Audio Codec Market to Witness Exponential Growth by 2027
Global audio codec market is expected to witness fastest growth due to the high adoption rate of earphones, headphone, and wireless audio devices during the forecast period. Changing lifestyle of urban population, increasing adoption of wireless headsets and other related devices is among the prominent trend in global audio codec market.
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Audio Codec Market: Drivers and Challenges
The rapidly growing demand for smartphones, tablet and other mobile devices is attributed to fuel the growth of global audio codec market. The rise in population and increasing disposable income of the population with mobile device being available at reasonable prices is encouraging the growth of global audio codec market. Advancement in technology and increasing penetration of internet are few factors that are positively impacting the growth of global audio codec market.
However, continuous optimization of component size of featured in audio codec devices is a challenge faced by the key vendors in the market. With the technological innovation there is a gradual decrease in usage of optical media products which is a factor that impacts negatively to the growth of global audio codec market.
Audio Codec Market: Segmentation
Audio codec market can be segmented on the basis of component type, type of channel, compression type, application and regions.
On the basis of component type, audio codec market can be segmented into hardware and software.
On the basis of type of channel, audio codec market can be segmented into mono-codec, stereo codec and multi-channel codec.
On the basis of compression type, audio codec market can be segmented into non-compression, lossless compression, lossy compression and others.
On the basis of application, audio codec market can be segmented into PCs and laptops, mobile phones and tablets, television, gaming console, wearable devices (headphone, earphones and others), media devices, automotive infotainment and others.
Audio Codec Market: Regional Overview
Regionally, global audio codec market can be segmented into North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan, Japan, Middle East and Africa.
Asia Pacific audio codes market is among the regions that hold the maximum revenue share in 2016 as many manufacturers are investing in staring their designing and developing facilities in countries of this region. North America, Western Europe and Japan are few other key regions that contribute to the global revenue of audio codec market to a greater extent.
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Audio Codec Market: Competition Landscape
Few prominent players in the global audio codec market include Texas Instruments Incorporated, DSP Group, Inc., Maxim Integrated Products, Inc. Dolby Laboratories, Inc. Technicolor SA, Fraunhofer IIS, Cirrus Logic, Inc. Realtek Semiconductor Corp. Analog Devices Inc. and among others.
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