The global speaker amplifier market size was valued at USD 3,579 million in 2021, which is envisioned to reach USD 6,576 million growing at a CAGR of 7.9% during the forecast period. A speaker amplifier is a piece of electronic equipment that boosts the sound level of an amplifier from a lower-level electronic audio signal to a higher-level audio signal that headphones or loudspeakers can receive. It makes it possible to improve the sound system's efficiency by increasing the vibrations to their fullest extent without affecting the wavelength or frequency of the signal, and it also enables this. Its uses include sound reinforcement systems for concerts and theaters, public address systems, and home entertainment systems like stereos and home theaters. In addition to their use in broadcasting, speaker amplifiers are also utilized in wireless communication.
Due to a rise in demand for consumer electronics and an increase in the setup of high-performance infotainment systems in automobiles, the global market for speaker amplifiers is expected to expand significantly during the forecast period. In addition, consumers around the world favor compact efficiently carried systems with properties such as low power consumption, high speed, and greater accuracy. This motivates manufacturers to concentrate on and develop advanced features for speaker amplifiers supported by handheld devices. Nevertheless, technical defects and issues associated with audio device integration constitute a significant restraint on the speaker amplifier market growth. Moreover, the increasing penetration of IoT technology in media and infotainment systems is anticipated to generate prospects for the speaker amplifier market.
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Growth in the Setup of High-Performance Infotainment Systems in Automobiles
Increasing demand for safe, plentiful, intelligent vehicles has prompted automakers worldwide to develop and install more integrated automobile infotainment systems. These systems provide occupants with an improved in-vehicle experience by providing a set of information and entertainment in a single package. These infotainment systems cannot function properly without the presence of speaker amplifiers. As a result, expanding the market for in-vehicle infotainment systems is one of the most critical factors driving demand for speaker amplifiers.
Additionally, the music and film industries have experienced significant growth in recent years, contributing to the advancement of audio technology. In this industry, dependability on wireless technology and improvements to reduce the amount of connectivity and cabling are observed as trends. In addition, there has been an increase in the demand for components that are not only smaller and lighter but also more powerful to cut costs associated with shipping, storage, and the amount of time required to set up large audio systems. For example, in November of 2020, a technology company based in Israel called Noveto Systems developed a cutting-edge audio technology that enables users to listen to wireless music without using headphones. Such developments are anticipated to contribute to the expansion of the speaker amplifier market share significantly.
Technical Failures Associated with Audio Devices to Restrict Market Growth
Multiple technical problems are encountered when integrating audio devices, resulting in the release of no or distorted sounds from speakers, humming sounds, a shortage of treble or bass in music, and excessive audio volume. These issues are typically caused by a defective or improper speaker amplifier or improperly connected cables. In addition, settings and wires can sometimes make audio systems more challenging to comprehend. Such issues in audio systems can result in negative user experiences, thereby impeding the expansion of the speaker amplifier market.
Growing Adoption of IoT in Media & Infotainment Systems to Spur Market Opportunities
Recently, media and entertainment systems have adopted the Internet of Things (IoT). In addition, expenditures on IoT systems such as smart homes and connected vehicle infotainment are anticipated to increase in the coming years. These systems include several intelligent audio applications, such as innovative doorbells, smart thermostats with voice control, and Bluetooth speakers. As speaker amplifiers are critical elements of media and infotainment systems, the integration of IoT into these systems presents a market opportunity. For example, NXP Semiconductors introduced the TFA8200 in August 2019, a full-bridge digital-in mono Class D audio amplifier with a feedback loop mainly intended for the Internet of Things applications. Many market leaders are aggressively presenting advanced speaker amplifier goods and services. In addition, there is an increase in research and development expenditures among key players. This is one of the most significant growth opportunities for the speaker amplifier market share in the coming years.
The global speaker amplifier market is classified based on power, end-use, and region.
Based on power, the fragments include low power (less than 5W) and mid-power (5W to 25W).
The low power segment (less than 5W) is anticipated to grow at a CAGR of 8.2% and hold the largest market share during the forecast period. Low power amplifiers have a 5W output maximum. They are primarily helpful for amplifying audio from small-signal devices like mobile phones, desktop computers, and laptops. Low power amplifier circuits are becoming increasingly popular as the need to amplify audio from small-signal devices like mobile phones, desktops, and laptops rises. IC LM386, for example, is a low-power audio Amplifier IC that is ideal for battery operation and listening to music from mobile phones or MP3 players. Moreover, the emergence of advanced low-power wireless speakers is anticipated to create lucrative growth opportunities for low-power amplifiers during the forecast period.
The segment of mid-power (5W to 25W) will hold the second-largest share. High-resolution audio enables users to listen to audio in its original, recorded form. High-resolution audio is transmitted to speakers employing amplifiers with broader bandwidth and digital-to-analog converters (DAC) with a high sampling rate. Consequently, many speaker manufacturers provide speakers with integrated mid-power amplifiers. This factor significantly contributes to the segment's expansion.
End-use segments include computers, phones, tablets, over-ear headphones, TWS, home entertainment, commercial, automotive, portable, smart home, IoT, wearables, and AR/VR.
The segment of phones is estimated to hold the largest share and grow at a CAGR of 8.5% during the forecast period. Speaker amplifiers are primarily used in mobile devices. Speaker amplifiers improve the clarity of phone audio when using headphones or external speakers. Increased smartphone adoption and an increase in the amount of content consumed on them fuel the speaker amplifier market growth. This is due to smartphones' more significant and brighter screens and their ability to provide a better visual experience overall.
Consequently, smartphones have a growing trend toward stereo audio to match the visual experience. Moreover, the growing usage of enhanced speaker amplifiers for mobile phones drives the expansion of this market segment. Micro speakers augmented by a smart-enhanced audio amplifier enable loudspeakers to produce maximum volume while preventing damage.
The smart homes segment will hold the second-largest share. A smart home or home automation consists of internet-connected devices installed in the residence to permit remote control and monitoring of devices and systems. It includes doorbells, intercom systems, and intelligent speakers. Increased adoption of smart speakers in smart homes due to their advanced features and usability is a significant factor driving the speaker amplifier market share. In smart homes, smart speakers control the device with the user's voice, making daily tasks easier. For example, under the Google Nest brand, Google has introduced a series of smart speakers called Google Home. These speakers enable individuals to use voice commands to engage with Google Assistant, a virtual assistant. In addition, the development of smart amplifiers for smart speakers by key players propels the expansion of this market segment.
The region-wise segmentation of the global speaker amplifier includes North America, Europe, Asia-Pacific, and LAMEA.
Why is asia pacific projected to be the most lucrative market during the assessment period?
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Asia-Pacific will command the market with the largest share and grow at a CAGR of 8.7% during the forecast period. The market for speaker amplifiers worldwide is driven mainly by the Asia-Pacific region. There has been a significant increase in demand for speaker amplifiers in several developing nations, including China, Japan, India, and South Korea. This can be attributed to three factors:
In addition, this region is home to some of the most successful corporations in the consumer electronics industry, including Samsung, Toshiba, Panasonic, and LG Electronics. This factor contributes significantly to the expansion of the market.
The speaker amplifier industry in Asia-Pacific is being driven by an increase in investment in the automotive and consumer electronics industries. In addition, providers of car audio speakers and car amplifiers in the Asia-Pacific region are continuously expanding their production facilities, contributing to the speaker amplifier market share. In 2018, for instance, Harman Kardon brought the construction of its Suzhou plant II to a successful conclusion. It is a facility that is 14,000 square meters in size and has multiple production equipment to double the production capacity that Harman currently possesses.
North America will hold the second-largest share of USD 2,135 million, growing at a CAGR of 7.2% during the forecast period. The landscape of the speaker amplifier industry in this region is constantly changing. Speaker amplifiers' expenditures in the U.S. and Canada continue to increase rapidly. Research and development, mergers and acquisitions, and product launches are market-relevant business activities that have resulted from the intense competition in the U.S. market for speaker amplifiers. This factor has primarily driven the speaker amplifier market in North America.
In September 2020, Technics, a sub-brand of Panasonic Consumer Electronics Company, a Panasonic Corporation of North America, introduced the Reference Class integrated amplifier SU-R1000. The reference class products provide customers with improved sound quality and a premium musical experience. In addition, the region is home to major market participants such as Texas Instruments, Analog Devices Inc., Monolithic Power Systems Inc., and Cirrus Logic. These competitors are employing various strategies to expand their customer base and boost revenue. Consequently, accelerating the market expansion for speaker amplifiers.
List of top key speaker amplifier market suppliers