Speaker Amplifier Market to Reach $5.8 Bn, Globally, by 2027 at 7.6% CAGR: AMR
- Rise in demand for consumer electronics and increase in demand for audio systems in public and private events drive the growth of the global speaker amplifier market.
PORTLAND, Ore., March 4, 2021 /PRNewswire/ -- Allied Market Research published a report, titled, "Speaker Amplifier Market by Power (Low Power (Less Than 5W) and Mid Power (5W to 25W)), and End Use (Computer, Phones, Tablets, Over-Ear Headphones, TWS, Home Entertainment, Commercial, Automotive, Portable, Smart Home, IoT, Wearable, and AR/VR): Global Opportunity Analysis and Industry Forecast, 2020–2027." According to the report, the global speaker amplifier market generated $3.73 billion in 2019, and is expected to reach $5.80 billion by 2027, witnessing a CAGR of 7.6% from 2020 to 2027.
Prime determinants of growth
Rise in demand for consumer electronics, installation of high-performance infotainment systems in automobiles, and increase in demand for audio systems in public and private events drive the growth of the global speaker amplifier market. However, technical faults and issues associated with integration of audio devices hinder the market growth. Contrarily, penetration of IoT in media & infotainment systems and rise in R&D for providing enhanced features create new opportunities in the coming years.
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The less than 5W segment to maintain its lead position during the forecast period
Based on power wattage, the less than 5W segment contributed to the largest market share, accounting for more than two-thirds of the global speaker amplifier market in 2019, and is expected to maintain its lead position during the forecast period. Moreover, this segment is expected to witness the fastest CAGR of 7.9% from 2020 to 2027. This is attributed to rise in need to amplify the sound from small-signal devices such as mobile phones, desktops, and laptops. The research also analyzes the 5W to 25W segment.
The phones segment to maintain its leadership status during the forecast period/p>
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Asia-Pacific, followed by North America, continue its dominant share in terms of revenue by 2027
Based on region, Asia-Pacific, followed by North America, held the highest market share in 2019, contributing to more than one-third of the global speaker amplifier market, and will continue its dominant share in terms of revenue by 2027. Moreover, this region is projected to maintain its highest CAGR of 8.4% during the forecast period. This is attributed to increase in investments in the automotive and consumer electronics industries.
Leading market players
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