Increasing Use of Smartphones offers Global Audio Codec Market Lucrative Growth Prospects

Inkwood Research estimates that the Global Audio Codec Market is set to register a CAGR of 5.60% in terms of revenue during the forecasting years of 2021-2028.

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Audio codecs are characterized as essential elements in sound systems as well as associated equipment. An audio codec entails a computer program or device capable of decoding and encoding a digital data stream that predominantly encodes and decodes audio. In terms of software, audio codes include computer programs that implement an algorithm, compressing and decompressing digital audio data as per the audio file or streaming media's audio coding format.

Surging Usage of Smartphones to Facilitate Market Growth
While nearly 3668 million people utilized smartphones in 2016, this figure reached 6378 million in 2021 and is expected to rise to 7336 million by 2025. As the first technology in audio codecs, MP3 codecs in smartphones work with Bluetooth connections. In this regard, Bluetooth devices have a determined connectivity range, typically ranging up to three meters for headphones. Moreover, an audio codec regulates how Bluetooth is transmitted from sources such as smartphones to headphones. Irrespective of the audio codec used, it is primarily responsible for decoding and encoding digital audio into data by virtue of a specified format. As a result, the ultimate goal of transmitting a high-fidelity signal at a minimum bit rate is achieved.

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Hardware Audio Codec is the Major Component
A hardware audio codec covers sound waves into PCM digital code and vice versa. It may include either the compression technique for reducing the signal or the analog-to-digital (A/D) or digital-to-analog (D/A) conversion. Also, hardware codecs are fast and high-quality, dedicated codecs.
In addition, its common application includes Digital Signal Processors (DSPs) in audio electronics devices. Further, these are used while playing or recording using Audio Queue Services or interfaces like AVFoundation. Moreover, it can be used with Open AL or the I/O audio unit.

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Asia-Pacific is the Fastest-Growing and Revenue-Generating Region
The region has an increasingly young population, which contributes to the popularity of media streaming. Also, several technologies are tested in Asia first, with its consumers getting direct benefits. In addition, innovations are supplementing the market growth in the region. Moreover, the partnerships and collaborations offer growth opportunities.
The market leaders maintain their market share by acquiring emerging players. Also, the established players are collaborating with outsiders. As a result, the competitive rivalry is intense. Analog Devices, Qualcomm Inc, Cirrus Logic, Texas Instruments, Fraunhofer IIS, etc., are among the key firms in the market.

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