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.
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.
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.
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