Dublin, Oct. 27, 2023 (GLOBE NEWSWIRE) -- The "Smartphone Audio Codecs Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global smartphone audio codecs market has witnessed remarkable growth, reaching a valuation of US$ 6.5 billion in 2022. Industry experts anticipate continued expansion, projecting the market to reach US$ 8.4 billion by 2028, with a notable Compound Annual Growth Rate (CAGR) of 4.3% during the forecast period of 2023-2028.
Understanding Audio Codecs
Audio codecs, also known as sound codecs, play a crucial role in compressing and decompressing audio data streams to reduce bit rates and storage requirements. These codecs encompass both hardware and software components, incorporating signal routing, mixing channels, microphone and line inputs, digital-to-analog converters (DAC), and analog-to-digital converters (ADC), facilitating smoother audio transmissions. Widely used audio codec formats today include MP3, advanced audio coding (AAC), Apple lossless audio code (ALAC), free lossless audio codec (FLAC), and Windows media audio (WMA).
Market Drivers
The surge in smartphone sales, coupled with escalating mobile data traffic, serves as a pivotal factor driving the global smartphone audio codecs market. The growing popularity of music streaming services is also propelling demand for audio codecs worldwide. Additionally, as Bluetooth earphones and headphones gain widespread adoption, leading manufacturers are focusing on incorporating innovative features such as parametric equalizers, dynamic range control, noise cancellation, and 3D sound processing to expand their consumer base.
Furthermore, the industry has recently witnessed the introduction of aptX technology, capable of wirelessly transmitting 24-bit high-resolution audio. This technology reduces audio file sizes before transmission without compromising sound quality, fostering a positive market outlook for future growth.
Key Market Segmentation
The comprehensive report provides an analysis of key trends within sub-segments of the global smartphone audio codecs market, offering forecasts at global, regional, and country levels from 2023 to 2028. The market is categorized based on component, converter type, and application type:
Breakup by Component:
- Hardware
- Mono Codecs
- Stereo Codecs
- Multi-channel Codecs
- Software
- Non-compression
- Lossy Compression
- Lossless Compression
Breakup by Converter Type:
- Analog to Digital Converter
- Digital to Analog Converter
Breakup by Application Type:
- iOS
- Android
Regional Insights:
- North America
- Asia Pacific
- Europe
- Latin America
- Middle East and Africa
Competitive Landscape
The competitive landscape of the industry has been thoroughly examined, featuring key players such as ams AG, Analog Devices, Inc., Broadcom Inc., Cirrus Logic Inc., CML Microcircuits (UK) Ltd., Dialog Semiconductor PLC, Integrated Device Technology, Inc., Maxim Integrated Products, Inc., NXP Semiconductors N.V., STMicroelectronics International N.V., and Texas Instruments Incorporated.
Key Questions Answered in This Report:
- Performance of the global smartphone audio codecs market to date and future projections.
- Impact of COVID-19 on the global smartphone audio codecs market.
- Breakdown of the market by component, hardware product type, software compression type, converter type, and application type.
- Key driving factors and challenges in the industry.
- Competitive landscape and key players.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 150 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $6.5 Billion |
| Forecasted Market Value (USD) by 2028 | $8.4 Billion |
| Compound Annual Growth Rate | 4.4% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/7wktmx
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