How big is the Audio CODEC Market?
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” by IMARC Group, finds that the the global audio CODECmarket 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.
What are Audio CODEC?
Audio coder-decoder or audio CODEC refers to computer-based applications and integrated circuits (IC) that compress and decompose digital acoustic signals and data streams. These software-based systems implement a range of algorithms that are utilized for decoding, encoding, and compressing data. Audio CODEC systems exhibit the capability of both digital-to-analog converter (DAC) and analog-to-digital converter (ADC). They aid in reducing the audio file size without impacting the data quality and help to store high-quality audio signals using minimum storage space. Audio CODEC solutions have easy multichannel interfacing properties, allow low noise distortion, and eliminate the bandwidth required to transmit acoustic signals. Consequently, they find widespread utilization across numerous sectors, such as automobile, commercial electronics, residential, etc.
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Audio CODEC Market Trends and Drivers:
The growing proliferation of internet users, the increasing need for various consumer electronics, including computers, smartphones, and tablets, and the introduction of the internet of things (IoT)-enabled communication devices are among the key factors driving the audio CODEC market. Furthermore, the escalating usage of wearable smartwatches, wireless headphones and headsets, miniaturized electronic devices, etc., is acting as another significant growth-inducing factor. In addition to this, the expanding construction of smart homes across countries equipped with home theaters to watch over-the-top (OTT) series and live-stream high-definition (HD) music is further stimulating the global market. Moreover, the emerging trend of incorporating audio CODEC in wireless infotainment systems of automobiles is also positively influencing the global market. Apart from this, the elevating demand for virtual reality or VR-integrated gaming consoles with superior-quality audio and the launch of multiple product variants with improved features by leading market players are expected to fuel the audio CODEC market over the forecasted period.
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Audio CODEC Market Report Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- Analog Devices Inc.
- 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:
Breakup by End Use:
- Over-Ear Headphones
- Home Entertainment
- Smart Home
- 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 need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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