NEW YORK—The power amplifier market is expected to grow from USD 21.4 billion in 2018 to USD 30.6 billion by 2023, at a CAGR of 7.4% between 2018 and 2023. The increasing popularity of consumer electronics and use of LTE technology are driving the growth of the power amplifier market. Further, need for quality audio is contributing to the growth of the power amplifier market. However, reduced price margin due to highly fragmented industry may erode profits and restrict the market growth.
The RF power amplifier market is expected to continue hold the largest market share during the forecast period.RF power amplifiers have several use cases in telecom and military & defense verticals, which also cost high.
These are used in several high power wireless transmission devices and equipment requiring input signals at thousands of kilowatts of power.There are two types of RF power amplifiers: traveling wave tube amplifiers (TWTAs) and solid-state power amplifiers (SSPAs).
SSPA is expected to substitute TWTAs during the forecast period owing to compact design and high lifespan of SSPA.
The market for industrial vertical is expected to grow at a significant CAGR during the forecast period. The adoption of industrial automation in countries focused on manufacturing sector is expected to be the driving factor for the power amplifier market.
Further, the market for telecommunication vertical is also expected to grow at a considerable rate during the forecast period. The growing adoption of 4G technology and upcoming 5G technology are the key factors for this growth.
APAC is expected to continue lead the power amplifier market and also expected to be the fastest growing region.This is mainly 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. Therefore, there is a continuous demand for power amplifiers in APAC.
A few power amplifier ecosystem players are as follows: Infineon Technologies (Germany), Texas Instruments (US), Broadcom (US), Toshiba (Japan), STMicroelectronics (Switzerland), Maxim Integrated (US), Yamaha (Japan), Qorvo (US), NXP Semiconductors (Netherlands), Analog Devices (US), Skyworks Solutions (US), QSC Audio Products (US), Peavey Electronics (US), Qualcomm (US), MACOM (US), BONN Elektronik (Germany), Renesas Electronics (Japan), ETL Systems (UK), Aemulus (Malaysia), and OPHIR RF (US).