Dublin, Dec. 21, 2020 (GLOBE NEWSWIRE) -- The "Audio Codec Market by Component Type (Hardware and Software), Application (Desktop and Laptop, Mobile Phone and Tablet, Headphones, Headset and Wearable Devices), and Region - Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The Audio Codec Market is Expected to Grow at a CAGR of 5.5% from USD 5.9 Billion in 2020 to USD 7.8 Billion
Some of the Factors such as penetration of internet users which are generating traffic, demand for telecommunication devices and products as there are restrictions globally amidst the pandemic and consumer trends inclined for IoT enabled smartphones and related devices.
Audio codec market for headset, hearables and wearable devices application to grow at highest CAGR during forecast period
The audio codec market for headset, hearables and wearable devices application is expected to grow at the highest CAGR during the forecast period considering the surge in the demand for wireless electronic products such as earplugs, smart watches, bluetooth speakers and others. Many automotive companies are diversifying their business portfolio in order to cater upgraded audio enabled music and communication devices in the manufacturing stage.
China is accounted for largest share in 2020 and further in the forecast period
The audio codec market in India is projected to share the largest market share during the forecast period. The highest CAGR is because of the presence of manufacturing capabilities in consumer goods and electronic products. Moreover, the R&D from China has helped the increasing the market share of audio products in the audio codec market.
The major players profiled in this report include:
- Analog Devices (US)
- Cirrus Logic (US)
- Maxim Integrated (US)
- Qualcomm (US)
- Realtek Semiconductor (Taiwan)
- STMicroelectronics (Switzerland)
- Texas Instruments (US)
- DSP Group (US)
- Dolby Laboratories (US)
- technicolor (France)
Market Dynamics
Drivers
- Growing Internet Penetration and Data Traffic
- Increasing Adoption of IoT-Enabled Connected Devices for Daily Users
- Surging Demand for Telecommunication Systems Amid COVID-19 Outbreak to Drive the Market for Audio Codecs
Restraints
- Declining in the Usage of Optical Media Products
- Short-Term Impact on Consumer Electronics Industry due to COVID-19
Opportunities
- Growing Demand for Android Set-Top Boxes and Video-On-Demand Services
- Rising Demand for Infotainment in Passenger Cars
Challenges
- Continuous Optimization of Component Size
- Variations in Demand and Supply due to COVID-19
Price Trend Analysis
Regulatory Update
Value Chain Analysis
Audio Codec Market Ecosystem
Technology Analysis
Patent Analysis
Case Study Analysis
- Media Magic Enabled a Leading Speaker Manufacturer to Integrate Multi-Room/Multi-Zone Capabilities on Its Smart Wireless Speaker
- American Smartwatch Brand Enhances Its Appeal and Delivers Outstanding User Experience with Ittiam's Sbc Codec
Companies Mentioned
- Akm (Asahi Kasei Microdevices)
- Ams
- Analog Devices
- Atc Labs
- Barix
- Broadcom
- Cirrus Logic
- Cml Microcircuits
- Dialog Semiconductor
- Digigram
- Dolby Laboratories
- Dsp Group
- Fraunhofer IIS
- Ittiam
- Maxim Integrated
- Qualcomm
- Realtek Semiconductor
- Right to Win
- STMicroelectronics
- Sony
- Synopsys
- Technicolor
- Tempo Semiconductor
- Texas Instruments
- Tieline
- Xiph
For more information about this report visit https://www.researchandmarkets.com/r/bc3lu3
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