Exclusive Report on Global Audio CODEC Industry: Post-COVID Growth Opportunity Analysis, Key Players | Analog Devices, Cirrus Logic, and Maxim Integrated.

The global Audio CODEC market size was valued at $5.43 Billion in 2020 and is expected to reach $8.67 Billion by 2028 growing at the CAGR of 5.80% from 2021 to 2028.

Increasing disposable income and a booming number of launches for new audio codec devices are propelling the sales of audio codec. In addition, the growing use of internet-enabled gadgets such as smartphones and tablets with built-in support for various digital media formats is also driving the market growth.

However, adverse effects of audio codec devices on the environment and health along with the emergence of audio SOCs (system on chip) are hindering the market growth. Moreover, high costs associated with the acquisition and maintenance of the latest vehicles incur a huge opportunity cost that owners incur for buying vehicles that contain inferior sound systems

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Key Players

Some of the major Audio CODEC players holding high market share include Analog Devices, Cirrus Logic, and Maxim Integrated. These players use new product development and collaboration as a key strategy to gain significant market share to compete with market leaders.

The key players profiled in the report are:
● Analog Devices
● Cirrus Logic
● Maxim Integrated
● Qualcomm
● Realtek Semiconductor
● STMicroelectronics
● Texas Instruments
● DSP Group
● Dolby Laboratories
● Technicolor

The recently published research report on Global Audio CODEC Market by Evolve Business Intelligence examines the industry in the context of major market aspects including market size & forecast, market shares in terms of revenues and volume, key players, and SWOT analysis. The market is analyzed based on 4 separate indications in the market dynamic chapter: Drivers, Restraints, Key Trends, and Challenges. The total sum of these sections will help you understand what strategies will be best to adopt in order to prosper through this industry over a few short years. The quantitative analysis includes our actual findings out of this research study where we provided additional insight into what our readers can do to embrace new opportunities or plan against threats that might hinder the market.

The COVID-19 pandemic has led to disruption in the supply chain leading to lower demand or supply shortages in the Audio CODEC market. The travel restrictions and social-distancing measures have resulted in a sharp drop in consumer and business spending and this pattern is expected to continue for some time. The end-user trend and preferences have changed due to the pandemic and have resulted in manufacturers, developers, and service providers adopting various strategies to stabilize the company.

The New Normal

As businesses recover from the COVID-19 pandemic, they have a new set of priorities to cope with. Throughout this crisis, they were forced to deal with shifting situations and often fell short of their ultimate goals. Now that a cure has been found and the pandemic is dying down, they will need to recuperate from this epidemic by setting forth new objectives to succeed in the future.

In terms of COVID 19 impact, the Audio CODEC market report also includes the following data points:
● COVID19 Impact on Audio CODEC market size
● End-User/Industry/Application Trend, and Preferences
● Government Policies/Regulatory Framework
● Key Players Strategy to Tackle Negative Impact/Post-COVID Strategies
● Opportunity in Audio CODEC market

Segmental Analysis

Market Segment By Component Type with focus on market share, consumption trend, and growth rate of Audio CODEC Market:
o Hardware
o Software

Market Segment By Application with the focus on market share, consumption trend, and growth rate of Audio CODEC Market:
o Desktop and Laptop
o Mobile Phone and Tablet
o Television and Gaming Console
o Automotive Infotainment
o Desktop and Laptop
o Mobile Phone and Tablet
o Television and Gaming Console
o Automotive Infotainment

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Key Region/ Countries Covered
● North America (US, Canada, Mexico)
● Europe (Germany, U.K., France, Italy, Russia, Rest of Europe)
● Asia-Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
● Rest of the World (the Middle East & Africa and South America)

The Asia Pacific dominated the global market for audio codecs in 2020. This region is expected to continue its growth due to increasing industrialization, developing industrial infrastructure, and the need to achieve ROI on IoT-enabled devices. The rapid technological development has led to the increasing use of modern technologies such as cloud computing, wireless connectivity, and IoT in this region.

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