Evolve Business Intelligence has published a research report on the Global Audio Transformer Market, 2021–2030. The global Audio Transformer market is projected to exhibit a CAGR of around 9% during the forecast period of 2022 to 2030.
Evolve Business Intelligence has recognized the following companies as the key players in the global Audio Transformer market are Abracon, Bourns, Halo Electronics, Hammond, Murata, Pulse Electronics, TDK, TE Connectivity, TT Electronics, Würth Elektronik Gmbh & Co. KG.
Market Highlights
The global Audio Transformer market is projected to be valued at USD 50 Billion by 2030, recording a CAGR of around 9% during the forecast period. Audio Transformer is a type of wiring that is usually used to transfer audio signals from one place to another. It works by monitoring the incoming signal and then transforming it into a signal that can be transferred. When the signal is transmitted, this type of wiring turns the input audio signal back into a standard signal. The transformer ensures that the signal is being transferred effectively and accurately, without being altered or damaged. One of the main uses of these devices is in sound equipment.
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At the beginning of 2020, covid started to spread across the world. Soon the number of cases started to increase infecting the majority of people. the pandemic has majorly affected production, demand, supply chain, and financial impact. Due to the increase in the number of cases, government officials responded by closing down unnecessary industries to reduce the spread of the virus and improved public health conditions. Various industries were closed down or were operating with 50% capacity. There was a decrease in demand for unnecessary items from the end-user. People were focusing more on their health and the necessary items such as food. This has decreased the demand for Audio transformers. First, the government announced the closure of industries, and then there was reduced demand from the end-user. These affected the audio transformer market badly. Due to the decrease in demand the manufacturer started to reduce their production.
Segmental Analysis
The global Audio Transformer market has been segmented based on the type, application, and region.
By type, the global Audio Transformer market has been segmented into Output Transformers, Input Transformers, and Interstage transformers. The Input Transformer segment is the fastest growing in the global Audio Transformer market. These transformers are used in applications such as home theatre, audio equipment, and mobile phones to improve sound quality, noise reduction, and frequency response.
Based on application, the global Audio Transformer market has been segmented into Electrical, Electronics, and Others. The Electronics segment holds a significant market share in the global Audio Transformer market. This is mainly due to the continuing advancement in consumer electronics and low-cost manufacturing. Electronics devices are becoming more advanced and hence the demand for audio transformers is increasing. The rise in demand for Audio transformers is increasing due to the increasing sales of home theatres, music systems, subwoofers, headphones, AV receivers, home theatres, and multimedia speakers.
Regional Analysis
The Audio Transformer market is divided into six regions: North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa. With the increasing demand for Audio transformers, South America is expected to witness considerable growth in the market. The region has a huge potential with an untapped market, which is expected to generate a significant revenue opportunity during the forecast period