Audio IC Market: Trends, Opportunities and Competitive Analysis [2023-2028]

Audio IC Market Trends and Forecast

The future of the global audio IC market looks promising with opportunities in the computer & tablet, phone, headphone, home entertainment system, automotive, smart home & IoT device, and wearable applications. The global audio IC market is expected to reach an estimated $46.7 billion by 2028 with a CAGR of 7.3% from 2023 to 2028. The major drivers for this market are widespread adoption of electronic gadgets among people, introduction of advanced, user-friendly, and energy-efficient audio equipment, and growing demand for AR/VR headsets equipped with audio ICs that provides superior sound quality for an immersive experience to its user.

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Audio IC Market by Segment

The study includes a forecast for the global audio IC market by product type, application, and region, as follows:

Audio IC Market by Product Type [Shipment Analysis by Value from 2017 to 2028]:

• Audio Amplifier
• Audio DSP
• Audio Codecs
• Microphone IC

Audio IC Market by Application [Shipment Analysis by Value from 2017 to 2028]:

• Computer & Tablets
• Phones
• Headphones
• Home Entertainment Systems
• Automotive
• Smart Home & IoT Devices
• Wearables
• Others

Audio IC Market by Region [Shipment Analysis by Value from 2017 to 2028]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Audio IC Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies audio IC companies cater to increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the audio IC companies profiled in this report include;

• Analog Devices
• Cirrus Logic
• NXP Semiconductors
• STMicroelectronics
• Maxim Integrated
• ROHM

Audio IC Market Insights

• Lucintel forecasts that audio codec will remain the largest segment over the forecast period due to the significant use of this gadget in various end use industries, including entertainment, gaming, consumer electronics, and automotive.
• Phone is expected to remain the largest segment due to the considerable use of this IC in speakers and headphones to enhance the audio quality of mobile devices and improve listening clarity.
• APAC will remain the largest region due to the growing demand of consumer electronics and favorable investment by manufacturers of automotive amplifiers and speakers for the expansion of audio IC production facilities in the region.

Features of the Audio IC Market

• Market Size Estimates: Audio IC market size estimation in terms of value.
• Trend And Forecast Analysis: Market trends (2017-2022) and forecast (2023-2028) by various segments and regions.
• Segmentation Analysis: Audio IC market size by various segments, such as by product type, application, and region
• Regional Analysis: Audio IC market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
• Growth Opportunities: Analysis on growth opportunities in different by product type, application, and regions for the audio IC market.
• Strategic Analysis: This includes M&A, new product development, and competitive landscape for the audio IC market.
• Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the audio IC market size?

Answer: The global audio IC market is expected to reach an estimated $46.7 billion by 2028.

Q2. What is the growth forecast for audio IC market?

Answer: The global audio IC market is expected to grow with a CAGR of 7.3% from 2023 to 2028.

Q3. What are the major drivers influencing the growth of the audio IC market?

Answer: The major drivers for this market are widespread adoption of electronic gadgets among people, introduction of advanced, user-friendly, and energy-efficient audio equipment, and growing demand for AR/VR headsets equipped with audio ICs that provides superior sound quality for an immersive experience to its user.

Q4. What are the major segments for audio IC market?

Answer: The future of the audio IC market looks promising with opportunities in the computer & tablet, phone, headphone, home entertainment system, automotive, smart home & IoT device, and wearable applications.

Q5. Who are the key audio IC companies?

Answer: Some of the key audio IC companies are as follows:

• Analog Devices
• Cirrus Logic
• NXP Semiconductors
• STMicroelectronics
• Maxim Integrated
• ROHM

Q6. Which audio IC segment will be the largest in future?

Answer:Lucintel forecasts that audio codec will remain the largest segment over the forecast period due to the significant use of this gadget in various end use industries, including entertainment, gaming, consumer electronics, and automotive.

Q7. In audio IC market, which region is expected to be the largest in next 5 years?

Answer: APAC will remain the largest region due to the growing demand of consumer electronics and favorable investment by manufacturers of automotive amplifiers and speakers for the expansion of audio IC production facilities in the region.

Q8. Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the audio IC market by product type (audio amplifier, audio DSP, audio codecs, and microphone IC), application (computer & tablets, phones, headphones, home entertainment systems, automotive, smart home & IoT devices, wearables, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?