How Big is The Audio CODEC Market:
The global audio CODEC market size reached US$ 6.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 8.1 Billion by 2028, exhibiting a growth rate (CAGR) of 3.93% during 2023-2028.
IMARC Group, a leading market research company, has recently releases report titled “Audio CODEC Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” The study provides a detailed analysis of the industry, including the global audio CODEC market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
What is Audio codec?
Audio coder-decoder (CODEC) refers to an integrated circuit (IC) and computer-based application that compresses and decomposes data stream and digital acoustic signals. Its software-based system implements a range of algorithms that are used for encoding, decoding, and compressing data. Audio CODEC also exhibits the capability of analog-to-digital converter (ADC) and digital-to-analog converter (DAC). It aids in reducing the size of the audio file without affecting the data quality and storing high-quality audio signals while using minimum storage space. Consequently, audio coder-decoder finds extensive applications in automotive infotainment systems, soundbars, home theaters, and consumer electronic devices to offer an immersive experience.
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What are the growth prospects and trends in the Audio CODEC Industry?
The rising number of internet users, the elevating need for numerous consumer electronics, including computers, phones, and tablets, and the emergence of the Internet of Things (IoT)-enabled communication devices are among the key factors stimulating the audio CODEC market. Moreover, the widespread adoption of several wearable smartwatches, miniaturized electronic devices, wireless headphones, and headsets for entertainment purposes is acting as another significant growth-inducing factor.
Besides this, the ongoing construction of smart homes equipped with home theaters to watch over-the-top (OTT) series and stream high-definition (HD) music has strengthened the inflating usage of audio CODEC across the residential sector, which is positively influencing the global market. Furthermore, the growing utilization of virtual reality (VR) integrated gaming consoles with high-quality audio and the launch of several product variants with enhanced features by key players are also fuelling the market growth. Apart from this, the increasing consumer inclination toward premium automobiles with advanced features has augmented the incorporation of audio CODEC in wireless infotainment systems, which is anticipated to fuel the audio CODEC market over the forecasted period.
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Who are the key players operating in the industry?
- Analog Devices Inc.
- Barix
- Cirrus Logic Inc.
- DSP Group Inc.
- Qualcomm Inc.
- Realtek Semiconductor Corp.
- Rohm Co. Ltd
- STMicroelectronics and Texas Instruments Inc.
Breakup by Function:
- With DSP
- Without DSP
Breakup by Component:
- Hardware
- Software
Breakup by End Use:
- Computer
- Phones
- Tablets
- Over-Ear Headphones
- TWS
- Home Entertainment
- Commercial
- Automotive
- Portable
- Smart Home
- IoT
- Wearable
- AR/VR
By Geography:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Key highlights of the report:
• Market Performance (2017-2022)
• Market Outlook (2023- 2028)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape
If you require any specific information that is not covered currently within the scope of the report, we can provide the same as a part of the customization.
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