Audio Codec Market 2019 Industry Trends, Business Strategies, Opportunities and Forecast to 2026

The market analysis is focused primarily on primary and secondary data, collected through a systematic approach to research. The research methodology is described in accordance with the business experts and international research standards by professional “Audio Codec Market” analysts. To draw the conclusion on the macroeconomic business climate, economic, political, and environmental regulations for the Audio Codec Market are examined.

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Report Scope:

In this report, the market is segmented by component, application and geography. The component segment is further broken down into hardware and software.

The software segment only includes those software components or audio codec algorithms that are implemented on hardware IC/chips to enable audio codec functionalities in Bluetooth-enabled consumer electronic devices. Thus, the software segment only focusses on software audio codecs which are used in Bluetooth devices (known as Bluetooth audio codecs) such as SBC, LDAC, LC3, and AAC.

This report provides an overview of the global audio codec market and analyzes market trends and challenges that will affect the vendor landscape. Using 2019 as the base year, the report provides market projections for the forecast period 2020 through 2025. This report also takes into consideration the economic slowdown caused by lockdowns across the world due to the COVID-19 pandemic.

Report Includes:

– 39 data tables and 23 additional tables

– An overview of the global market for audio codec integrated circuits (ICs) within the industry

– Analyses of global market trends with data from 2019-2020, estimates for 2022, and projections of compound annual growth rates (CAGRs) through 2025

– Highlights of the new technological developments and evaluation of market size and market share analysis for audio codecs based on component, application and geographical region

– Identification of market drivers, restraints and other forces affecting the growth of the market

– Impact of COVID-19 on the audio codec market as against the overall semiconductor industry

– Coverage of events like mergers & acquisitions, joint ventures, collaborations or partnerships, and other key market strategies

– Company profiles of the key market players, including Analog Devices Inc., Cirrus Logic, DSP Group, Realtek Semiconductor, Maxim Integrated, Qualcomm, Texas Instruments, STMicroelectronics and Fraunhofer IIS

Summary:

The need for deploying high-performance software audio codecs is more important than ever due to the demand for superior audio experiences across consumer electronics applications. Popular codec formats are often deployed across multiple products with varying processor architectures produced by one manufacturer. System engineers thus face the challenge of identifying the right implementation for their applications.

The growing demand for superior audio experiences across consumer electronics applications has increased the need for deploying high-performance hardware and software audio codecs, especially in a wide range of smart electronics devices. An audio codec is a device or computer program that encodes or decodes an audio signal. A software-based audio codec implements an algorithm that compresses and decompresses digital data streams. The aim of using an audio codec is to effectively reduce the size of an audio file without affecting the quality of the sound. This helps in storing a high-quality audio signal using the minimum amount of space. Audio codec integrated circuits (ICs) are used in portable media devices and consumer applications such as mobile phones, tablets, automotive infotainment systems, home theater systems, PCs, and gaming systems.

The global market for audio codecs was valued at $REDACTED in 2019 and is forecast to reach $REDACTED by 2025, growing at a CAGR of REDACTED during the forecast period. Some of the major drivers for the growth of the audio codec market are the increasing adoption of Internet of Things (IoT)-enabled connected devices, increasing penetration of mobile data traffic, and growing adoption of wearable and hearable devices. Increasing demand for in-vehicle infotainment systems provides major growth opportunities in the market. However, saturation in the optical media industry will act as a restraint on the growth of the market.

In this report, the global audio codec market is segmented by component, application and geography. The audio codec market by component is categorized into hardware and software. The software segment is expected to exhibit the highest growth in the audio codec market. Since software licensing is done at many stages for the same product, the segment accounts for more than REDACTED of the market. Software codecs as compared to hardware can be upgraded faster and can be easily fragmented for encoding and decoding, so are economical and consume less space. These factors will result in the growth of software embedded devices and technologies.

The global audio codec market by application is categorized into mobile phones; home audio systems; PCs; tablets; headphones, headsets and wearable devices; televisions; gaming consoles; and automotive infotainment systems. The headphones, headsets and wearable devices segment is expected to grow at the highest CAGR in the audio codec market during the forecast period of this report. Due to rapid technological advancements in voice-user interface, and introduction of miniaturized wearable electronic devices for health monitoring, the demand for wearables such as smart watches, wireless headphones and headsets has increased considerably. Moreover, it is anticipated that the COVID-19 pandemic will have a significant impact on market growth. The COVID-19 crisis has expanded the role of wearable technologies, especially in the healthcare sector. Also, new products from wearable companies such as Apple, Samsung and Fitbit have helped renew interest in popular categories such as smartwatches and hearables. All these factors, along with devices’ ability to connect to the internet, will propel the growth of the wearables, headsets and headphones segment, which will result in increased demand for audio codecs.

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The market study also highlights the technical, distributional, production of goods and sourcing of raw materials. Appropriate explanations illustrate the market appeal research for various goods and applications. In order to provide an overall perspective on the industry value chain, primary activities, and support activities involved in the Audio Codec Market are discussed. In this Market Analysis, key strategic decisions and future business strategies for key players in the Audio Codec Market will be discussed in order to understand competition in the coming years.

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