The audio IC and audio amplifier market is projected to reach US$ 22,525.7 million by 2028 from US$ 13, 424.5 million in 2021; it is expected to grow at a CAGR of 7.7% from 2021 to 2028.

The adoption of consumer electronics and smart appliances is increasing with the development of new energy-efficient audio devices for both commercial and domestic use. Advancements in technologies and high disposable income among working population would also contribute to the audio IC and audio amplifier market growth. Continuous technological innovations in the semiconductors industry, increasing demand for high-performance home theaters, and penetration of Internet of Things (IoT) are the other major factors propelling the adoption of consumer electronic devices, which would contribute to the growth of the market. For example, the development of gallium nitride (GaN) power transistors has enabled manufacturers to offer high-performance home theater systems, with less production cost. Many smart appliances come with voice assist, and Wi-Fi and Bluetooth connectivity, which is adding to their popularity among consumers. Moreover, rise in preference for smart homes with luxurious entertainment systems, escalating demand for smart speakers with display features, and high inclination toward multifunctional devices, all coupled with rising per capita income of populations are among the key factors driving the sales of AI-based smart speakers, which is fueling the audio IC and audio amplifier market growth. Continuous technological innovations in home audio systems, increasing popularity of high-performance home theaters, are among the major factors bolstering the demand for smart electronic products. Additionally, the elevating adoption of smart and wireless infrastructure with a rising demand for high-fidelity (Hi-Fi) audio systems at commercial venues is another factor boosting the demand for audio ICs and amplifiers.

The COVID-19 pandemic has disturbed the economic progress and disrupted supply chains in many countries. It has hampered the performances of industries such as energy, aviation, food & beverages, chemicals, retail and e-commerce, and travel and tourism. The decline in raw material supply from various manufacturers across North America, Europe, and Asia Pacific, due to the downsizing of production and trade activities, is limiting the audio IC and audio amplifiers market growth. Moreover, the audio IC and audio amplifier market players are facing challenges in meeting the demand owing to halt in business operations in last few months, decline in production of various components, as well as restrictions on supply chain. However, the market has started regaining pace since 2021, with the demand- and supply-sides resuming their operations.

The audio IC and audio amplifier market is segmented on the basis of audio IC type, audio amplifier class, and geography. Based on audio IC type, the market is segmented into A/D converter IC, processor IC, amplifier IC, D/A converter IC, and others. Based on audio amplifier class, the audio IC and audio amplifier market is segmented into Class A/B, Class D, Class G, and Class H. Based on geography, the global audio IC and audio amplifier market is broadly segmented into North America, Europe, Asia Pacific, and the Middle East and Africa (MEA), and South America (SAM). In 2020, APAC accounted for a significant share of the global market.

A few key audio IC and audio amplifier market players profiled in this market study are IC Audio GmbH, icepower A/S; Infineon Technologies AG; Maxim Integrated; NXP Semiconductors N.V.; Renesas Electronics Corporation; Semiconductor Components Industries, LLC; STMicroelectronics; Texas Instruments Incorporated; and Toshiba Corporation

The overall audio IC and audio amplifier market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast for the audio IC and audio amplifier market with respect to all the segments. Also, multiple primary interviews have been conducted with industry participants to validate the data as well as to gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers-along with external consultants such as valuation experts, research analysts, and key opinion leaders-specializing in the audio IC and audio amplifier market.