The global speaker amplifier market size was valued at $3.73 Billion in 2020 and is projected to reach $5.80 Billion by 2027, to register a CAGR of 7.6% from 2020 to 2027. Major factors driving the growth of the market include rising demand for energy-efficient technologies in portable audio devices, increasing popularity of consumer electronic devices across the globe, growing traction of in-vehicle infotainment systems, and increasing demand for high-quality audio output.
A speaker amplifier is an electronic device, which increases the amplifier sound from a low-level electronic audio signal to a higher-level audio signal for loudspeakers or headphones. It allows to increase vibrations to the maximum extent of signals without affecting wavelength or frequency and helps improve the efficiency of a sound system. Its applications include concert & theatrical sound reinforcement systems, public address systems, and domestic systems such as a home theatre or stereo system. Speaker amplifiers are also used in wireless communication as well as broadcasting.
The global speaker amplifier market is anticipated to witness significant growth during the period, owing to a surge in demand for consumer electronics and the growth installation of high-performance infotainment systems in automobiles. In addition, consumers around the globe prefer devices that are portable, easy to carry and have features such as low power consumption, high speed, and greater accuracy, which propels manufacturers to focus and come up with advanced features for speaker amplifiers that are supported in handheld devices such as MP3 and portable docking stations.
Moreover, an increase in demand for audio systems in public and private events across the globe also fuels the growth of the market. However, technical faults and issues associated with the integration of audio devices are a major restraint for the speaker amplifier market growth. In addition, the growing penetration of IoT technology in media & infotainment systems is expected to create opportunities for the speaker amplifier industry.
The global speaker amplifier market is segmented into power, end-use, and region. By power, the market is segmented into low power (less than 5W) and mid-power (5W to 25W). The end-user segment is divided into computers, phones, tablets, over-ear headphones, TWS, home entertainment, commercial, automotive, portable, smart home, IoT, wearable, and AR/VR.
The audio amplifier market in China is projected to grow at a significant rate during the period. China is a global manufacturing hub for the automotive, entertainment, and consumer electronics industries. Considering its flourishing economy, it is one of the largest markets for consumer electronics such as smart speakers, professional audio systems, smartphones, and television sets. Moreover, China being a global manufacturing hub, holds immense potential for the automotive industry. These factors are expected to augment the growth of the market in China.
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. This leads to an increased demand for audio amplifiers in the region. Region-wise, the speaker amplifier market is analyzed across North America (U.S., Canada, and Mexico), Europe (UK, Germany, France, and Rest of Europe), Asia-Pacific (China, Japan, India, and Rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).