Audio Codec Market to Receive Overwhelming Hike in Revenues By 2030 | TMR Study

Audio Codec: Introduction

An audio codec is a device that codes and decodes audio signals. CODECs combine an ADC and DAC with one or more conversion algorithms depending on the exact application.

Audio codec is used to minimize the number of bits of the given audio file, while retaining its accuracy, quality, and reducing the storage space of the audio file
Audio codec uses multiple formats such as FLAC (Free Lossless Audio Codec), ALAC (Apple Lossless Audio Codec), and WMA (Windows Media Audio) to offer uncompressed audio file in reduced size

Multiple manufacturers across the globe are engaged in developing high quality, affordable, and compact size of audio codec to address the needs of their customers
Based on component, the audio codec market is bifurcated into hardware and software

Audio codec is used in various applications such as automobile infotainment, wearable devices, smartphones & tablets, media devices, and desktops & laptops

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Growing Demand for Audio Codec for use in Wearable Devices
Audio codec are largely used in consumer electronic devices such as smartphones, tablets, laptops, headphones, and wearable devices as it provides speaker protection, microphone noise suppression during wideband calls, and acoustic echo cancellation

Adoption of software embedded devices is increasing across the globe as it provides flexibility for upgrade, consumes less space, and is economical
Moreover, headphones, headsets, and wearable devices are enabled with IoT technology, owing to growing demand among customers for communication and entertainment applications

Multiple manufacturers are engaged in development of technologically advanced products. In line with this, in August 2018, Qualcomm Technologies, Inc. announced the launch of its audio codec, "Qualcomm aptX Adaptive," a next-generation audio codec for dynamic next-gen premium wireless audio experiences.

The exponential adoption of audio codec in the consumer electronics industry for wearable devices and applications is propelling the market growth and development

As a result of these factors, demand for audio codec in wearable devices is growing, which is expected to drive the global audio codec market during the forecast period

Asia Pacific to Lead the Audio Codec Market
In terms of region, the global audio codec market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America
Asia Pacific is anticipated to dominate the global audio codec market throughout the forecast period, as a large number of manufacturers of audio codec operate in the region

Additionally, many well-established players based in Asia Pacific are focusing on development of new technology in audio codec which is expected to boost the market in the region during the forecast period
The audio codec market in North America and Europe is expected to expand at a substantial rate during the forecast period. On the other hand, the market in Middle East & Africa and South America is estimated to expand at a moderate pace during the forecast period.

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Key Players Operating in the Global Audio Codec Market

The global audio codec market was highly fragmented in 2020. Major players operating in the global market are focusing on technological advancements and expansion to meet the rising demand for audio codec. Moreover, manufacturers are signing partnerships for the development of innovative products.

Key players operating in the global audio codec market include:

Analog Devices, Inc.
Cirrus Logic, Inc.
Dolby Laboratories, Inc.
DSP GROUP
Maxim Integrated
Qualcomm Technologies, Inc.
Realtek Semiconductor Corp.
ROHM CO., LTD.
STMicroelectronics
Texas Instruments Incorporated
Others

This intelligence report by TMR is the outcome of intense study and rigorous assessment of various dynamics shaping the growth of the market. TMR nurtures a close-knit team of analysts, strategists, and industry experts who offer clients tools, methodologies, and frameworks to make smarter decisions. Our objective, insights, and actionable analytics provide CXOs and executives to advance their mission-critical priorities with confidence.

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