Global Audio Codec Market Report 2023: Sector to Reach $8.1 Billion by 2028 at a CAGR of 4%
DUBLIN, March 31, 2023 /PRNewswire/ — The “Audio Codec Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” report has been added to ResearchAndMarkets.com’s Visit.
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Global audio codec market size to reach US$6.4 billion in 2022. Looking ahead, analysts expect the market to reach US$ 8.1 billion by 2028, exhibiting a CAGR of 4% during 2022-2028.
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An audio coder-decoder (CODEC) is an integrated circuit (IC) and computer-based application that compresses and decompresses data streams and digital acoustic signals. Its software-based system implements a variety of algorithms that are used for encoding, decoding, and compressing data.
It also exhibits both analog-to-digital converter (ADC) and digital-to-analog converter (DAC) capability. Audio Codec helps to reduce audio file size without affecting data quality and storing high quality audio signals while using minimum storage space.
Additionally, it has easy multichannel interfacing properties, enables low noise distortion, and eliminates the bandwidth required to transmit acoustic signals. Based on these properties, the audio codec finds wide application in automotive infotainment systems, soundbars, home theaters and consumer electronic devices to provide an immersive experience.
Increasing proliferation of Internet users, rising need for various consumer electronics, such as computers, phones, and tablets, and emergence of Internet of Things (IoT)-enabled communication devices are primarily driving the growth of the audio codec market. In line with this, the widespread use of multiple wearable smartwatches, miniature electronic devices, wireless headphones and headsets for entertainment purposes is fueling product demand worldwide, especially during the COVID-19 pandemic.
Additionally, the ongoing construction of smart homes equipped with home theaters to watch over-the-top (OTT) series and stream high-definition (HD) music accelerated the widespread adoption of audio codecs in the residential sector. who is acting as an other. growth-stimulating factor.
Furthermore, consumer inclination towards premium automobiles with advanced features has increased the incorporation of audio codecs in wireless infotainment systems, which in turn is supporting the market growth. Moreover, increasing demand for Virtual Reality (VR) integrated gaming consoles with high-quality audio and frequent launch of multiple product variants with advanced features by leading players is creating a positive outlook for the market.
Key Questions Answered in this Report
1. What was the global audio codec market size in 2022?
2. What is the expected growth rate of the global Audio Codec market during 2023-2028?
3. What are the key factors driving the global Audio Codec Market?
4. What is the impact of COVID-19 on the global Audio Codecs market?
5. What is the breakup of the global Audio Codec market on the basis of function?
6. What is the breakup of the global Audio Codec market on the basis of component?
7. What is the segmentation of the global audio codec market on the basis of end use?
8. What are the key regions in the global Audio Codec market?
9. Who are the key players/companies in the global Audio Codec market?
Major Topics Covered:
1 Preamble
2 Scope and Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Major Industry Trends
5 Global Audio Codec Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Function
6.1 with DSP
6.1.1 Market Trends
6.1.2 Market forecast
6.2 Without DSP
6.2.1 Market Trends
6.2.2 Market Forecast
7 Market Breakups by Component
7.1 Hardware
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Software
7.2.1 Market Trends
7.2.2 Market Forecast
8 Market Breakup by End Use
8.1 Computer
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Phone
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Tablets
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Over-Ear Headphones
8.4.1 Market Trends
8.4.2 Market Forecast
8.5 TWS
8.5.1 Market Trends
8.5.2 Market Forecast
8.6 Home Entertainment
8.6.1 Market Trends
8.6.2 Market Forecast
8.7 Commercial
8.7.1 Market Trends
8.7.2 Market Forecast
8.8 Automotive
8.8.1 Market Trends
8.8.2 Market Forecast
8.9 Portable
8.9.1 Market Trends
8.9.2 Market Forecast
8.10 Smart Home
8.10.1 Market Trends
8.10.2 Market Forecast
8.11 IoT
8.11.1 Market Trends
8.11.2 Market Forecast
8.12 Wearable
8.12.1 Market Trends
8.12.2 Market Forecast
8.13 AR/VR
8.13.1 Market Trends
8.13.2 Market Forecast
9 Market Breakup by Region
10. SWOT Analysis
11 Value Chain Analysis
Analysis of the five forces of 12 coolies
13 Value Analysis
14 Competitive landscape
14.1 Market Structure
14.2 Major players
14.3 Profile of Key Players
For more details about this report visit https://www.researchandmarkets.com/r/6mggow
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