Market Trends of Audio Amplifier Industry
This section covers the major market trends shaping the Audio Amplifier Market according to our research experts:
Consumer Electronics to Drives the market
- The increase in the adoption of advanced & power-efficient electronic products and the demand for the speakers, which consist of audio amplifiers, improve sound quality majorly drive the growth of the audio amplifier market. For instance, according to the Music Trades, in 2019, the instrument amplifier market's retail sales value was 153.93 million U.S. dollars. Also, as per the same source, in 2019, 218,000 power amplifiers were sold in the U.S. These factors are responsible for the growth of the market across the globe.
- The factors that hamper the audio amplifier market's growth include problems regarding high energy consumption and current leakage. An increase in the penetration of IoT and the escalating popularity of in-vehicle Infotainment systems gives optimum opportunities for the audio amplifier market's growth.
- For instance, according to Finch Capital, the global market for the Internet of things (IoT) end-user solutions is expected to grow to USD 418 billion in size by the end of 2021. The technology reached 100 billion dollars in market revenue for the first time in 2017, and forecasts suggest that this figure will grow to around USD 1.6 trillion by 2025.
- The recent development in the audio amplifier market is 'D' technology, which is used by various electronics, automotive, and home automation systems. It is used in electronic devices capable of holding hundreds of watt of power efficiently and used in low noise and high-power applications. For example, Toshiba Electronic Devices and Storage Corporation recently launched "TCB503HQ' for car audio that exhibits high resistance to power.
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Asia-Pacific to Account For Highest Market Growth
- The Asia-Pacific is projected to account for highest market growth in audio amplifier market. The highest growth in the market is attributed to the growing disposable income of consumers in the region, increasing adoption of consumer electronics devices, booming infrastructure, and rising technological advancement in the region are some of the driving factors behind the growth of the audio amplifier market.
- Increased investments in consumer electronics and automotive industries in the Asia Pacific are fueling the growth of the market in this region. Moreover, Asia Pacific is also home to some of the major consumer electronics companies, including Samsung, Panasonic, Toshiba, and LG Electronics. Availability of low cost of labor and development in infrastructure in developing countries like China and India have boosted the manufacturing capacity of consumer electronics devices in the Asia Pacific region.
- The growth of the audio amplifier market in APAC is also attributed to the consumption of these amplifiers by automotive players in this region to advance their automotive infotainment systems as audio amplifiers (class D) help reduce noise and distortion, enables refined signal processing and improves overall performance of the infotainment sound system and attains the need for an elevated audio experience.
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