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2023 Audio Codec Market Growth, Segmentation, Industry Analysis, Top Key Players | Apple Inc., AT&T Inc., Qualcomm Incorporated, Texas Instruments Incorporated, STMicroelectronics N.V.
Audio Codec Global Market
The Business Research Company's Audio Codec Global Market Report 2023 identifies The increase in smartphone adoption as the major driver for the Audio Codec market's growth in the forecast period. A smartphone is a mobile device that combines the functions of a cell phone with those of a computer. Smartphones have become the primary streaming media device, leading to a demand for codecs that provide high-quality audio while minimizing file size. Voice over Internet Protocol (VoIP) and smartphone video calling apps require audio codecs for clear voice transmission.
The global audio codec market is expected to grow from $8.78 billion in 2022 to $9.28 billion in 2023 at a compound annual growth rate (CAGR) of 5.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global audio codec is expected to reach $11.22 billion in 2027 at a CAGR of 4.9%.
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Major competitors in the Audio Codec market are Apple Inc., AT&T Inc., Qualcomm Incorporated, Texas Instruments Incorporated, STMicroelectronics N.V., NXP Semiconductors N.V., Analog Devices Inc., Renesas Electronics Corporation, ON Semiconductor Corporation, ROHM Co. Ltd.
A key trend in the Audio Codec market includes Product innovation. Major companies operating in the audio codec market are focused on innovating new products and solutions to sustain their position in the market.
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https://www.thebusinessresearchcompany.com/report/audio-codec-global-market-report
The Audio Codec market is segmented -
1) By Component: Hardware, Software
2) By Function: With Dedicated Digital Signal Processor (DSP), Without Dedicated Digital Signal Processor (DSP)
3) By Application: Desktop And Laptop, Mobile Phone and Tablet, Music And Media Device and Home Theatre, Television and Gaming Console, Headphone, Headset, and Wearable Devices, Automotive Infotainment
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Audio Codec market.
The Business Research Company's "Global Audio Codec Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Audio Codec Market Include:
1. Executive Summary
2. Audio Codec Market Characteristics
3. Audio Codec Market Trends And Strategies
4. Audio Codec Market - Macro Economic Scenario
5. Audio Codec Market Size And Growth
……
27. Audio Codec Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Audio Codec Market
29. Audio Codec Market Future Outlook And Potential Analysis
30. Appendix
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