Power Amplifier Market to be Worth $30.6 Billion by 2023

According to a report published by MarketsandMarkets, the power amplifier market is expected to grow from USD 21.4 billion in 2018 to USD 30.6 billion by 2023, with a CAGR of 7.4% through the forecast period. Major factors driving the power amplifier market include the increasing use of the LTE technology and the need for high-quality audio.

In the report, the power amplifier market has been segmented on the basis of product into two categories: audio power amplifier and RF power amplifier. These power amplifiers are used to amplify different types of signals. Among these types, RF power amplifier is the fastest growing segment in the overall power amplifier market. It is used for various functions in the communication chain to provide a gain to the signal before further transmission. The growing traction of connected devices is expected to be the key factor for the significant growth of RF power amplifier market.

Among all verticals, consumer electronics held the largest share in 2018 and is expected to be the leading segment over the forecast period. This is attributed to the huge adoption of consumer electronics devices such as wearable devices, smartphones, gaming consoles, TV sets, VR HMDs, wireless speakers and soundbars and headphones and headsets. Developments in LTE is also expected to drive the growth of the power amplifier market in consumer electronics vertical.

Asia Pacific is expected to account for the largest share in 2018. This is attributed to the presence of key electronics manufacturers such as Samsung, Hitachi, Nissan, Panasonic, and Honda. China, Japan, South Korea, and India offer some of the prolific electronics manufacturers in APAC. There has been a paradigm shift of users from 3G to 4G technology in this region. The markets in Asia are encouraging the development of 5G mobile technologies, with commercial deployments planned in South Korea in 2019, and Japan and China in 2020.

Click here to access the research report "Power Amplifier Market by Product (Audio Power Amplifier, Radio Power Amplifier), Class (Class AB, Class C, Class D), Technology, Vertical (Consumer Electronics, Industrial, Telecommunication, Automotive) and Region - Global Forecast to 2023".