Audio Codec Market Forecasts to 2028 – Global Analysis By Type (Analog and Digital), Component (Hardware and Software), Function (With DSP and Without DSP), Channel Type, Compression Type, Application and By Geography
According to Stratistics MRC, the Global Audio Codec Market is accounted for $5.90 billion in 2020 and is expected to reach $10.52 billion by 2028 growing at a CAGR of 7.5% during the forecast period. Increasing demand for telecommunication systems with the advent of COIVD-19, rising internet penetration and data traffic and growing adoption of IoT based devices for daily use are driving the market growth. However, decline in the usage of optical media products are hampering the growth of the market.
Audio Codec is a device or program used for decoding and encoding digital-analog by means of implementing an algorithm. It is used to decrease the number of bits in an audio file while maintaining consistency and accuracy and decreasing the audio file’s storage space.
Based on the component, the software segment is going to have lucrative growth during the forecast period due to the rise in adoption of software embedded devices owing to its less space consumption, flexibility of upgradation and also is economical. By geography, Asia Pacific is going to have high growth during the forecast period which can be attributed to the rapid technological advancements in the region. Furthermore, presence of large number of key players and rising demand for IoT based devices is boosting the growth of the market.
Some of the key players profiled in the Audio Codec Market include Analog Devices Inc., Asahi Kasei Microdevices (AKM) Corp., Cirrus Logic Inc., CML Microcircuits, Dialog Semiconductor, Dsp Group Inc., Maxim Integrated, Microchip Technology Inc., Nuvoton Technology Corp., Nxp Semiconductors N.V., Qualcomm, Realtek Semiconductor Corp., Rohm Semiconductor, Samsung Electronics Co., Ltd., Sony Corp., Tempo Semiconductor Inc. and Texas Instruments Inc.
• With Digital Signal Processing (DSP)
• Without Digital Signal Processing (DSP)
Channel Types Covered:
• Mono Codec
• Multi-Channel Codec
• Stereo Codec
Compression Types Covered:
• Lossless Compression
• Lossy Compression
• Augmented Reality (AR)/Virtual Reality (VR)
• Automotive Infotainment
• Desktop Personal Computers (PCs) and Laptop
• Headphone, Headset, and Wearable Devices
• Internet of Things (IoT)
• Mobile Phone and Tablet
• Music & Media Device and Home Theatre
• Television and Gaming Console
• True Wireless Stereo (TWS)
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
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- Covers Market data for the years 2018, 2019, 2020, 2024 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
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- Supply chain trends mapping the latest technological advancements
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