Speaker Amplifier Market to Reach $5.8 Bn, Globally, by 2027 at 7.6% CAGR: AMR

- Rise in demand for consumer electronics and increase in demand for audio systems in public and private events drive the growth of the global speaker amplifier market.

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Allied Market Research

Mar 04, 2021, 08:15 ET

PORTLAND, Ore., March 4, 2021 /PRNewswire/ -- Allied Market Research published a report, titled, "Speaker Amplifier Market by Power (Low Power (Less Than 5W) and Mid Power (5W to 25W)), and End Use (Computer, Phones, Tablets, Over-Ear Headphones, TWS, Home Entertainment, Commercial, Automotive, Portable, Smart Home, IoT, Wearable, and AR/VR): Global Opportunity Analysis and Industry Forecast, 2020–2027." According to the report, the global speaker amplifier market generated $3.73 billion in 2019, and is expected to reach $5.80 billion by 2027, witnessing a CAGR of 7.6% from 2020 to 2027.

Prime determinants of growth

Rise in demand for consumer electronics, installation of high-performance infotainment systems in automobiles, and increase in demand for audio systems in public and private events drive the growth of the global speaker amplifier market. However, technical faults and issues associated with integration of audio devices hinder the market growth. Contrarily, penetration of IoT in media & infotainment systems and rise in R&D for providing enhanced features create new opportunities in the coming years.

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Covid-19 Scenario

Production activities were hindered due to the lockdown imposed during the Covid-19 pandemic by governments of many countries. In addition, there has been the scarcity of workforce and supply chain disruptions. Raw material supply had been restrained due to transport obligations.
China is a major exporter of electronic parts and the ban on import and export activities hindered the raw materials as well as finished goods supply.
Production activities in the electronics sector were hindered due to lockdown and the demand for speaker amplifiers reduced significantly. However, the demand is expected to rise slowly as the daily operations in the sector resume in full capacity.

The less than 5W segment to maintain its lead position during the forecast period

Based on power wattage, the less than 5W segment contributed to the largest market share, accounting for more than two-thirds of the global speaker amplifier market in 2019, and is expected to maintain its lead position during the forecast period. Moreover, this segment is expected to witness the fastest CAGR of 7.9% from 2020 to 2027. This is attributed to rise in need to amplify the sound from small-signal devices such as mobile phones, desktops, and laptops. The research also analyzes the 5W to 25W segment.

The phones segment to maintain its leadership status during the forecast period

Based on end use, the phones segment accounted for the highest share, contributing to nearly half of the global speaker amplifier market in 2019, and will maintain its leadership status during the forecast period. Moreover, this segment is projected to manifest the highest CAGR of 8.3% from 2020 to 2027. This is attributed to rise in penetration of smartphones along with the increase in the amount of content consumed through their smartphones. The research also analyzes the segments including computers, tablets, over-ear headphones, TWS, home entertainment, commercial, automotive, portable, smart home, IoT, wearable, and AR/VR.

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Asia-Pacific, followed by North America, continue its dominant share in terms of revenue by 2027

Based on region, Asia-Pacific, followed by North America, held the highest market share in 2019, contributing to more than one-third of the global speaker amplifier market, and will continue its dominant share in terms of revenue by 2027. Moreover, this region is projected to maintain its highest CAGR of 8.4% during the forecast period. This is attributed to increase in investments in the automotive and consumer electronics industries.

Leading market players

Cirrus
Maxim
ROHM
NXP Semiconductors
ADI
STMicroelectronics
Silicon Labs
ICE Power
ON Semiconductors
Monolithic Power Systems
Infineon

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