Audio Driver IC Market Size, Share, Growth, And Industry Analysis, By Type (2-channel, 4-channel, 6-channel, Mono channel), By Application (Consumer Electronics, Telecommunication, Automotive) and Regional Forecast To 2031

Updated On: 08 April 2024

Audio Driver IC Market Report Overview

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The global audio driver IC market size was USD 2996 million in 2022 & the market is expected to reach USD 9671 million by 2031, exhibiting a CAGR of 13.9% during the forecast period.

The COVID-19 pandemic has been unprecedented and staggering, with the audio driver IC market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

An audio driver integrated circuit (IC) is a chip that allows an electronic device to make sound. It is found in smartphones, tablets, laptops, and desktop computers. Audio driver ICs are important because they allow these devices to produce high-quality sound.

The market's expansion can be ascribed to rising demand for consumer electronics and automotive applications. Furthermore, increased demand for telecommunication applications is likely to boost market growth throughout the forecast period. Because of its widespread use in consumer electronics and automotive applications, the 2-channel audio driver IC segment is expected to dominate the worldwide audio driver IC market during the forecast period.

COVID-19 Impact: Coronavirus Pandemic has decreased the demand because of reduced supply chain

The global impact of the COVID-19 outbreak is affecting the production processes of various sectors. Because governments in several countries have previously declared total lockdown or temporary shutdown of industry, the overall manufacturing process has been negatively impacted, hampered the global audio IC market. The COVID-19 pandemic is having a global impact on society and the economy. This outbreak's impact is expanding by the day and is harming the supply chain. The crisis is causing stock market uncertainty, a drop in corporate confidence, a major slowing of the supply chain, and an increase in customer concern

Latest Trends

"Adoption of wireless audio content streaming is the market's main trend"

One of the technological advancements of the twenty-first century was the emergence of wireless technology. These short-range radio waves aid in the transmission of data such as images, music, documents, and movies. It is also used in many audio driver ICs to transport signals, allowing sound to be shared from a smart device to a wireless headphone. Furthermore, smartphone makers such as Apple Inc. are projected to push the market during the projection period by abandoning the headphone jack. This will most likely increase the demand for audio driver ICs rather than traditional wired headphones. Audio driver ICs' cord-free capability is convenient for consumers. It provides mobility and a hands-free experience, allowing you to continue completing other tasks without interruption. Some of the main advantages of audio driver ICs that will fuel market expansion over the projected period include noise filtering, long-distance operations, multitasking, high-quality audio, and dependability.

Audio Driver IC Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into 2-channel, 4-channel, 6-channel, Mono channel. 2-channel is anticipated to be the leading segment.

• By Application Analysis

Based on application, the market can be divided into Consumer Electronics, Telecommunication, and Automotive. Consumer Electronics will be the dominating segment.

Driving Factors

"Increased usage of consumer electronics devices driving the market growth"

Significant factors influencing the growth of the audio IC market include the increased usage of consumer electronics devices and the development of new energy efficient audio devices with greater user experience. Furthermore, market expansion is driven by the rising adoption of wireless and smart infrastructure, as well as the surge in demand for Hi-Fi audio in commercial events. However, the increase in demand for audio SoCs, as well as technical defects and issues associated with audio device integration, is a significant constraint for the global audio IC market. Furthermore, the global market is likely to benefit from an increase in demand for on-board media entertainment systems and the advancement of VR technology.

"Growing penetration of smart gadgets is significantly driving market growth "

The increasing use of smart devices such as smartphones, tablets, laptops, smart TVs, streaming media players, and other multimedia devices is predicted to increase demand for supporting accessories such as audio driver ICs. Bluetooth headphones are popular wearable connected devices that sync with cellphones.

Restraining Factors

"The main impediment to marketing expansion is increased vendor competition"

Several worldwide and regional vendors are present in the industry. Previously, North American businesses like as Microchip Technology, Synaptic, and Cypress Semiconductor dominated the market, but a growing number of newcomers, particularly from APAC, has increased competition. Analogue Devices and Infineon Technologies are competing with the well-established manufacturers. Because the requirement for strong technological know-how is not a significant criterion for entry into the market, the number of vendors entering the market is likely to expand during the forecast period. This will increase competition among vendors, leading to price wars. Market suppliers will endeavour to supply audio driver ICs at competitive rates, resulting in a decline in audio driver IC ASP. This will have a negative impact on vendor revenue generation, resulting in a slower market growth rate during the projection period.

Audio Driver IC Market Regional Insights

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"North America dominated the global market during forecast period"

In terms of revenue share, North America dominated the global market in 2019. Due to increasing demand for advanced audio driver ICs from various application categories such as consumer electronics, communications, and automotive, the region is likely to maintain its dominance over the forecast period. Growing 4K TV penetration and increased demand for 5G networks are two significant drivers driving regional market growth. Furthermore, the growing popularity of smart home solutions is fueling market growth. The Asia Pacific region is expected to be one of the fastest-growing regions during the forecast period, owing to rising adoption from emerging economies such as China and India, as well as increased investments by key players in the region in developing advanced products based on Audio Driver IC technology.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• STMicroelectronics (Switzerland)
• Texas Instruments (U.S.)
• Infineon Technologies (Germany)
• Analog Devices (U.S.)
• NXP Semiconductors (Netherlands)
• ON Semiconductor (U.S.)
• ROHM Semiconductor (Japan)
• Cirrus Logic (U.S.)
• Silicon Laboratories (U.S.)
• Microchip Technology (U.S.)
• Monolithic Power Systems (U.S.)
• ICEpower (Denmark)
• Intersil (U.S.)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.