Audio CODEC Market Size Is Projected To Reach US$ 8.1 Billio...| MENAFN.COM

Wednesday, 22 March 2023 03:17 GMT

Audio CODEC Market Size Is Projected To Reach US$ 8.1 Billion By 2028, At A CAGR Of 3.93% - IMARC Group

(MENAFN- EIN Presswire)

Audio CODEC Market Size

Audio CODEC Market driven by the increasing number of internet users, the inflating need for consumer electronics, including computers, phones, tablets

SHERIDAN, WYOMING, UNITED STATES, February 9, 2023 / / -- The latest research study“Audio CODEC Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” by IMARC Group, finds that the 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.

Audio coder-decoder (CODEC) represents an integrated circuit (IC) and computer-based application that compresses as well as decomposes data stream and digital acoustic signals. This software-based system implements a range of algorithms that are used for encoding and decoding information. Audio CODEC exhibits the capability of analog-to-digital converter (ADC) and digital-to-analog converter (DAC). It aids in reducing the audio file size without affecting the data quality and storing high-quality audio signals while utilizing minimum storage space. Consequently, it finds extensive applications in automotive infotainment systems, soundbars, home theaters, and consumer electronic devices to offer an immersive experience.

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Audio CODEC Market Trends and Drivers:

The increasing number of internet users, the inflating need for consumer electronics, including computers, phones, tablets, etc., and the introduction of the Internet of Things (IoT)-enabled communication devices are primarily driving the audio CODEC market. Furthermore, the widespread adoption of several wearable smartwatches, wireless headphones, and headsets for entertainment purposes, especially during the sudden outbreak of the COVID-19 pandemic, is positively influencing the global market. Apart from this, the growing construction of smart homes equipped with home theaters to watch over-the-top (OTT) series and stream high-definition (HD) music is propelling the utilization of audio CODEC across the residential sector, which is acting as another significant growth-inducing factor. Moreover, the rising consumer inclination towards premium automobiles with advanced features is bolstering the use of audio CODEC in wireless infotainment systems, thereby augmenting the market growth. Besides this, the escalating demand for virtual reality (VR) integrated gaming consoles and the development of innovative product variants with enhanced features are expected to fuel the audio CODEC market in the coming years.

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Audio CODEC Market Report Segmentation:

Competitive Landscape:

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

Breakup By Regions:

.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 (2016-2021)
. Market Outlook (2022- 2027)
. 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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About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

Elena Anderson
IMARC Services Private Limited
+1 6317911145
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