Press release
Audio CODEC Market Size is Expected to Reach $14.12 Billion by 2027
The global audio CODEC market size was valued at $11.44 billion in 2019, and is projected to reach $14.12 billion by 2027, registering a CAGR of 4.1% from 2020 to 2027
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Audio CODECs transfer digital data using buses, which may include linear pulse-code modulation (linear PCM), inter-IC sound (I2S), AC-Link, inter-integrated circuit (I2C), and serial peripheral interface (SPI). Audio CODEC finds a wide range of applications in sectors such as entertainment, gaming, consumer electronics, and automotive.
The audio CODEC industry is expected to witness growth during the forecast period, owing to rise in demand for energy efficient audio system. In addition, increase in adoption of smartphones also propels the market growth. Moreover, emergence of IoT-enabled devices integrated with artificial intelligence is estimated to revolutionize the market. Hence, owing to the aforementioned factors, the audio CODEC market share is expected to witness a steep growth in the near future.
Surge in disposable income and number of product launches also propel the audio CODEC market growth. However, emergence of audio SoC (system on a chip) and growth in awareness regarding adverse effects of audio codec devices on health and environment hinder the audio CODEC market growth. Furthermore, rise in demand for on-board entertainment, rapid development & adoption of virtual reality (VR) technology, and growth in demand for gaming consoles globally provides lucrative opportunities for the market.
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Competitive Analysis:
The competitive environment of the audio CODEC industry is further examined in the report. It includes details about the key players in the market's strengths, product portfolio, audio CODEC market share and size analysis, operational results, and market positioning. It comprises the actions taken by the players to grow and expand their presence through agreements and entering new business sectors. Mergers and acquisitions, joint ventures, and product launches are some of the other techniques used by players.
Some of the major key players of the audio CODEC industry include:
• Analog Devices
• Cirrus Logic
• CML Microelectronics
• Dialog Semiconductor
• DSP Group
• Maxim Integrated
• Realtek Semiconductor
• ROHM CO. LTD
• STMicroelectronics
• Texas Instruments
Top Impacting Factors:
High demand for smartphones, increase in per capita income of population, surge in demand for consumer electronics, and emergence of IoT-enabled devices are the major factors that propel the market growth. However, emergence of audio SoC is expected to hinder the market growth. Conversely, rise in demand for automotive infotainment, growth in investments in the gaming industry, and implementation of virtual reality across various industries is projected to offer remunerative opportunities for the market.
The research report presents a complete judgment of the audio CODEC market trends, growth factors, consumption, production volume, CAGR value, attentive opinions, profit margin, price, and industry-validated market data. Also, these research report provides accurate economic, global, and country-level predictions and analysis, size and share analysis, market dynamics, segmental analysis, top investment pockets, competition landscape, market drivers, restraints, and opportunities
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Key Benefits for Stakeholders:
• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the audio CODEC market analysis from 2022 to 2032 to identify the prevailing audio CODEC market opportunities.
• Market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and
strengthen their supplier-buyer network.
• In-depth analysis of the audio CODEC market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global audio CODEC market trends, key players, market segments, application areas, and market growth strategies.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports Insights" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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