Global 3D Audio Market Poised to Gain Outstanding Surge at a CAGR of 16.6% during Forecast 2017-2025
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Major Insights from the Report
Globally, consumers are highly spending on electronic products and when it comes to speakers and audio devices, they become choosier. With focus on enhancing consumer experience, this sound mix technology delivers music (sound) to a listener in three dimensions. In the present time, increasing adoption of 3D audio in gaming is the major factor driving the 3D audio market. Game developing companies are replacing their traditional 2D audio sound engine with advanced 3D audio sound engines.
According to the study prime evaluations, the market for 3D audio is forecast to quickly grow to US$ 14,498.0 Mn by 2026 from US$ 3,194.5 Mn in 2016, recording a remarkable CAGR of 16.6%. It has been also analyzed that industry participants active in the 3D audio market reveals that industries such as gaming, music, VR, and cinemas would continue to dominate the market throughout the forecast period. In the current time, cinema industry is adopting 3D audio sound systems. Furthermore, booming virtual reality (VR) and augmented realty (AR) and its penetration across museums and exhibitions anticipated to create lucrative market opportunity for 3D audio.
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Moving further in the study, the market segmentation has been presented. The report segments the market on the basis of component and end-use. By component, the study covers software, hardware and services. The hardware segment is further bifurcated into loudspeakers, headphones, microphones/mic and others. By end-use, the market has been classified into personal/in-house and commercial. As per the research, the 3D audio market has seen steady demand due to rising employment across end-use applications, with commercial implementations holding the largest share. The geographical analysis of the report reveals that APAC region is expected to witness rapid growth in the coming years. Cinema digitization and rising proliferation of portable media devices is anticipated to drive the 3D audio market across APAC.
The research finally concludes with the profiling of key players active in the 3D audio market. They are OSSIC, 3D Sound Labs, DTS, Inc. (Xperi Corporation), Auro Technologies Inc., Dysonics, Sennheiser electronic GmbH & Co., ISONO Sound, Comhear Inc., Core Sound LLC., dearVR, Dolby Labs, Hooke Audio, VisiSonics Corporation (Realspace 3D), and Waves Audio Ltd.
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