Report : North America Audio IC and Audio Amplifiers Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Audio IC Type (A/D Converter IC, Processor IC, Amplifier IC, D/A Converter IC, and Others) and Audio Amplifier Class (Class A/B, Class D, Class G, and Class H)
Amplifier IC Segment to Dominate North America Audio IC and Audio Amplifiers Market during 2020–2028
According to a new market research study on “North America Audio IC and Audio Amplifiers Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Audio IC Type and Audio Amplifier Class” is expected to reach US$ 5,321.47 million by 2028 from 3,237.38 US$ million in 2021. The market is estimated to grow at a CAGR of 7.4% from 2021 to 2028. The report provides trends prevailing in the North America audio IC and audio amplifiers market along with the drivers and restraints pertaining to the market growth. Rising adoption of consumer electronics is the major factor driving the growth of the North America audio IC and audio amplifiers market. However, issues associated with audio amplifiers in various devices having interfacing issues hinders the growth of North America audio IC and audio amplifiers market.
North America audio IC and audio amplifiers market is segmented into audio IC type and audio amplifier and country. Based on audio IC type, the North America audio IC and audio amplifiers market is segmented into (A/D converter IC, processor IC, amplifier IC, D/A converter IC, and others. The market is led by amplifier IC segment with highest share in 2020. Based on audio amplifier class, the North America audio IC and audio amplifiers market is segmented into Class A/B, Class D, Class G, and Class H. The Class D segment led the market in 2020 with highest share. Based on country, the North America audio IC and audio amplifiers market is segmented into US, Canada, and Mexico. US held the largest market share in 2020.
North America is one of the most important regions for the adoption and growth of new technologies owing to favorable government policies to boost innovation and strengthen the infrastructure capabilities. Hence, any impact on the growth of industries is expected to affect the economic growth of the region in a negative manner. Due to the shutdown of businesses and delay in procurement activities are affecting the supply chain and significantly impacted the market. Moreover, due to the falling GDP, the market will have negative impact on the growth rate of audio IC and audio amplifier market. The COVID-19 crisis has drastically upended operations across the value chain, from supplier networks to the customer delivery experience. The region has presence of several electronic component manufacturers, who cater advanced and innovative components for building audio IC and audio amplifier. The COVID-19 outbreak has severely affected these companies in production activities as well as supplying their products to their clients. However, in the coming years, the audio IC and audio amplifier market is expected to foresee significant growth opportunities owing to the rising demand for 5G based audio amplifier and IC across the region. Thus, the overall impact of COVID-19 on the North American region is low to moderate.
Cirrus Logic, Inc.; IC Audio GmbH; ICEpower A/S; Infineon Technologies AG; Maxim Integrated; NXP Semiconductors N.V.; Renesas Electronics Corporation; Semiconductor Components Industries, LLC; STMicroelectronics; Texas Instruments Incorporated; and Toshiba Corporation are among the leading companies in the North America audio IC and audio amplifiers market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, Infineon Technologies AG announced the completion of the acquisition of Cypress Semiconductor Corporation. This combination of Cypress and Infineon will lead to a denser network of sales offices, R&D centers, manufacturing sites and distribution partnerships. Cypress adds a differentiated portfolio of microcontrollers, connectivity components, software ecosystems and high-performance memories.