Audio Codec Market Global Growth By 2030 | Industry Analysis by Size, Trends, Competitor Strategy, High Emerging, Sales Revenue, Competitive Landscape, Opportunity and Challenges

Audio codecs compress and decompress digital audio data to facilitate transmission and storage. They are commonly used for audio streaming, video conferencing, or interactive voice response systems.

Market Dynamics:

The Audio Codec Market is witnessing high growth owing to innovation in wireless audio technologies such as Wi-Fi, Bluetooth, and internet radio. Additionally, increasing demand for high definition and enhanced audio is also fostering market growth. Audio codecs help transmit high quality audio over these technologies by compressing large audio files without significant loss. They allow for streaming of high definition audio on a variety of devices including smartphones, tablets, laptops, smart TVs and wireless audio systems. With growing popularity of wireless audio technologies, the need for efficient audio codecs is increasing rapidly.

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Audio Codec Market Drivers: Increasing Demand for Wireless Audio Devices

The demand for wireless audio devices such as wireless headphones, speakers, and home theaters has increased significantly over the past few years. The convenience of being able to stream high quality audio content from smartphones, tablets, and laptops without any wired connections has made wireless audio devices very popular. As wireless audio devices require audio codecs to compress and transmit audio signals between devices, their growing demand directly boosts the audio codec market. Some key statistics highlighting the increasing demand for wireless audio devices include a valuation of over $20 billion for the wireless speakers market in 2020 and shipment of over 430 million wireless headphones globally in the same year. This growing need for wireless connectivity in audio devices establishes a strong driver for the growth of the audio codec market.

Audio Codec Market Drivers: Rising Popularity of Voice Assistants

Voice assistants powered by artificial intelligence are gaining widespread popularity due to their convenience of performing tasks and answering questions simply with voice commands. All major technology companies now offer their own voice assistants like Amazon Alexa, Google Assistant, Apple Siri, Microsoft Cortana and others. For voice assistants to function effectively, audio codecs play a vital role in both capturing the user's voice commands accurately as well as generating natural-sounding responses. The growing demand for voice assistants is directly contributing to the increasing importance of audio codecs. It is estimated that shipments of smart speakers containing voice assistants grew by over 60% in 2020 alone. This booming voice assistant market presents a strong driver for the audio codec industry.

Audio Codec Market Restrain: Resistance to Codec Upgrades

While advanced new audio codecs keep emerging with improved compression capabilities and higher audio quality, not all device manufacturers and network operators are quick to adopt them. Upgrading to new codecs requires changes to both hardware and software, which necessitates additional costs. Many manufacturers prefer sticking to widely supported legacy codecs like AAC and MP3 to avoid additional expenses of codec upgrades and compatibility issues during transition periods. Network operators also have to invest in infrastructure updates to support newer codecs fully. This inertia towards adopting new audio codecs acts as a restrain on the market's growth potential as support for older codecs slows the rollout of newer and better ones.

Audio Codec Market Opportunity: Growth of Streaming Audio Services

The demand for high-quality streaming of audio content over the internet through various online audio streaming platforms has grown tremendously in recent years. Popular services like Spotify, Apple Music, YouTube Music, Amazon Music, and others now have hundreds of millions of subscribers. As audio streaming relies on efficient audio compression through codecs to deliver a smooth listening experience over bandwidth-constrained networks, this boom in online audio streaming presents a huge opportunity for the audio codec industry. Services need to constantly upgrade to newer and more advanced codecs to provide users an improved quality of experience. It is expected that global revenue from audio streaming will surpass $30 billion by 2025, establishing it as a significant growth opportunity for audio codec vendors to capitalize on.

Audio Codec Market Trend: Emergence of Next-Generation Codecs

There is an ongoing trend where new generations of audio codecs emerge on a regular basis promising even higher compression capabilities and improved perceptual audio quality compared to their predecessors. Some examples include Opus, EVS, and codec extensions like MPEG-H 3D Audio. These new codecs leverage latest advancements in audio compression techniques as well as new encoding architectures like neural networks for a more natural listening experience and requiring less bandwidth. While legacy AAC and MP3 codecs currently dominate the market, the transition towards these next-gen alternatives has started in niches and is expected to gradually expand over the coming years. This changing landscape where periodic new codec innovations emerge establishes an important trend in the market that vendors and service providers will have to adapt to remain competitive.

Top Key Players:

Cirrus Logic, Inc., Qualcomm Inc., Realtek Semiconductor Corp., Analog Devices, Inc., Maxim Integrated Products, Inc., Stmicroelectronics N.V., Texas Instruments Inc., DSP Group, Inc., Dolby Laboratories, Inc., Technicolor SA

Detailed Segmentation:

By Component Type:

Hardware-Based Audio Codec
Mono Codec
Stereo Codec
Multi-Channel Codec
Software Based Audio Codec
Non-Compression
Lossy Compression
Lossless Compression
By Application:

Automobile
Television Sets
Smartphones and tablets
Desktop and laptops
Headphone, Head Sets and Wearable devices
Music & Media Devices and Home Theatres
Gaming consoles
Others

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Regional Analysis:

⁃ North America: United States, Canada, and Mexico

⁃ South & Central America: Argentina, Chile, Brazil and Others

⁃ Middle East & Africa: Saudi Arabia, UAE, Israel, Turkey, Egypt, South Africa & Rest of MEA.

⁃ Europe: UK, France, Italy, Germany, Spain, BeNeLux, Russia, NORDIC Nations and Rest of Europe.

⁃ Asia-Pacific: India, China, Japan, South Korea, Indonesia, Thailand, Singapore, Australia and Rest of APAC.

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Key Questions Addressed in the Market Report:

What is the expected size, share, and CAGR of the Audio Codec Market over the forecast period?
What are the key trends expected to influence the Audio Codec Market between 2023 and 2030?
What is the expected demand for various types of products/services in the Audio Codec Market?
What long-term impact will strategic advancements have on the Audio Codec Market?
Who are the key players and stakeholders in the Audio Codec Market?
What are the different segments and sub-segments considered in the Audio Codec Market research study?
Strategic Points Covered in Table of Content of Global Audio Codec Market:

Chapter 1 : Introduction, market driving forces, and product The study and research objectives are to investigate the Audio Codec market.

Chapter 2: Exclusive Summary - Audio Codec Market Fundamentals.

Chapter 3: The Changing Impact on Market Dynamics- Drivers, Trends, and the Challenges and Opportunities of Process Spectroscopy

Chapter 4: Audio Codec Market Factor Analysis, Porter's Five Forces Analysis, Supply/Value Chain, SWOT Analysis, Market Entropy, and Patent/Trademark Analysis are all presented in this chapter

Chapter 5: 2017-2022 Forecast by Type, End User, and Region/Country

Chapter 6: Evaluating the key players in the Audio Codec market, including the Competitive Landscape, Peer Group Analysis, BCG Matrix, and Company Profile.

Chapter 7: To evaluate the market by segments, countries, and manufacturers/companies, as well as revenue share and sales by major countries in these regions (2023-2030).

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