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.
Estimated Market Size in 2020:
USD 5.90 billion
Compound Annual Growth Rate (CAGR) from 2020 to 2028:
Predicted 2028 Value:
USD 10.52 billion
Tables, Graphs & Figures
Type, Component, Function, Channel Type, Compression Type, Application and Region
Core Drivers and Opportunities:
Restraining Factors & Market Threats:
• 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
- Strategic recommendations for the new entrants
- Covers Market data for the years 2018, 2019, 2020, 2024 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Key Questions Answered In The Report
The Global Audio Codec Market is majorly driven by 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.
The headphone, headset, and wearable devices segment is growing at a highest CAGR owing to shift in demand for wearables such as smart watches, wireless hear phones and headsets as they are compact, economical and provides easy connectivity to the user.
North America dominated with a significant market share due to the factors such as significant investments from major market players in research and development of audio devices.
Asia Pacific market is growing at a highest CAGR owing to the 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.
Key players in 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.
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