Dublin, Feb. 26, 2024 (GLOBE NEWSWIRE) -- The "Audio Codecs - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Audio Codecs Market to Reach $8.8 Billion by 2030
The global market for Audio Codecs estimated at US$6 Billion in the year 2022, is projected to reach a revised size of US$8.8 Billion by 2030, growing at a CAGR of 4.9% over the analysis period 2022-2030. Hardware, one of the segments analyzed in the report, is projected to record 4.7% CAGR and reach US$6.6 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Software segment is readjusted to a revised 5.6% CAGR for the next 8-year period.
The report offers insights into the global audio codec market, including its various segments and competitive landscape. It begins with influencer market insights and world market trajectories, setting the stage for an in-depth analysis of the audio codec industry. The market is segmented by type, with software emerging as the dominant segment. Revenues for stereo and PCM audio codecs are broken down by applications, providing a comprehensive understanding of market dynamics.
Additionally, key competitors' market shares for 2022 are highlighted, along with the percentage breakdown of sales by leading players in the multi-channel and low-power audio codec segments for 2019. The competitive market presence section categorizes players worldwide based on their market influence in 2022. Overall, these insights offer valuable perspectives on the global audio codec market landscape and its key players.
The U.S. Market is Estimated at $1.6 Billion, While China is Forecast to Grow at 8.2% CAGR
The Audio Codecs market in the U.S. is estimated at US$1.6 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$1.9 Billion by the year 2030 trailing a CAGR of 8.2% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.5% and 4% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 3.2% CAGR.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 189 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $6 Billion |
| Forecasted Market Value (USD) by 2030 | $8.8 Billion |
| Compound Annual Growth Rate | 4.9% |
| Regions Covered | Global |
MARKET TRENDS & DRIVERS
- Rising Adoption of Smartphones and Tablets: A Growth Opportunity for Audio Codecs Market
- Global Smartphone Shipments in Million Units for the Years 2016 through 2024
- Global Shipments of Tablets in Million Units for 2014 through Q1 2019
- Smartphone Audio Codecs Market: Rising Adoption of Smartphones Drives Growth
- Global Smartphone Audio Codecs Market: Percentage Breakdown of Revenues by Hardware and Software for 2019
- With Smartphones Use Rising, Need for High-Quality Voice Calls Drives Need for a Superior Audio Codec
- Growing Internet Penetration Rates, Massive Increase in Data Traffic, and Rise in Mobile Subscriptions: Opportunity for Audio Codec Market
- Growing Sales of Bluetooth-driven Devices and Bluetooth's Popularity as a Technology for Wireless Audio Streaming Fuels Demand for Advanced Audio Codecs
- Global Bluetooth Speakers Market: Annual Sales in US$ Billion for the Years 2019, 2021, 2023 and 2025
- With Wireless Set to be the Future of Headphones, Efforts Focus on Developing Wireless Audio Codec Standard to Improve Fidelity
- Enhancing Performance with Modified SBC codec (mSBC)
- Fraunhofer Institute Discontinues MP3 Format
- With MP3 Discontinued, Audio Codec Supporting Fully Lossless, Multi-use, High resolution, Open and Secure Parameters to Emerge as the Standard
- Fraunhofer's Object-Based Audio Codec Emerges as the Future of Immersive Sound
- Fraunhofer's Enhanced Voice Services (EVS) Standard: Promise of Unprecedented Voice Call Quality
- FLAC: A High-Definition MP3 Format
- xHE-AAC: A Codec Designed for Adaptive Streaming and Digital Radio
- Innovations & Advancements
- Microchip Technology Unveils Bluetooth 5.0 Audio SoC for Enabling High Resolution Wireless Audio
- Qualcomm Unveils Qualcomm Aqstic Audio Codecs for Smartphones
- Dialog's DA740x Highly-Integrated Audio Codec Chips: Providing a Mix of Noise Cancellation and Low Power Consumption Advantages
- Audio Codec Formats
FOCUS ON SELECT PLAYERS(Total 32 Featured)
- Analog Devices, Inc.
- Cirrus Logic, Inc.
- Dolby Laboratories, Inc.
- DSP Group, Inc.
- Fraunhofer IIS Development Center for X-ray Technology
- Maxim Integrated Products, Inc.
- Qualcomm, Inc.
- Realtek Semiconductor Corp.
- STMicroelectronics
- Technicolor SA
- Texas Instruments, Inc.
- Xiph.Org Foundation
For more information about this report visit https://www.researchandmarkets.com/r/d7hz92
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