Market by Component, Application, and Regional Outlook | Forecast 2022-2028
Audio codecs refer to computer software or a
device competent in encoding or decoding a digital audio data stream. It
essentially implements a method to compress or decompress digital audio data in
accordance with a certain audio file or streaming media coding format.
Moreover, they are critical components of sound systems and devices.
Based on Triton Market Research estimates, the Global Audio Codec Market was valued at
$2324.10 million in 2021 and is
expected to reach $4242.59 million by
2028, growing at a CAGR of 9.27%
during the forecast period 2022-2028.
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MARKET PERFORMANCE – DRIVERS, CHALLENGES, AND TRENDS
Growing
adoption of wearable devices, rise in energy-efficient devices, and robust
optimization techniques in the electronic industry are key growth drivers
supporting the studied market’s growth.
Audio codecs have evolved in size, compatibility with other software and
devices, and frequency and stereo tuning, increasingly used in energy-efficient
devices. In this regard, their compactness has increased, sound bandwidth
reduced, and the frequency has adjusted according to device compatibility.
Additionally,
the surge in mobile gaming, the evolution of software audio codecs, and the
growing smartphone penetration have created high demand for audio codecs in the
electronics industry. As a result, the
increased use of codecs has led to size reduction, along with an efficiency
boost. In the early 2000s, the issue pertaining to size emerged in association
with gadget compactness. Moreover, the market for software audio codecs
exploded with the expiration of software codecs in 2017. Presently, AAC, ALAC,
FLAC, AMR, Opus, LDAC, Vorbis, DSD, and MP4 have emerged as new-generation
popular audio software codecs.
On the
contrary, patented market and IP licensing restrictions, coupled with the
availability of open-source audio codecs on the internet, are key challenges
impacting the reviewed market.
With the growth of the internet of things, open-source software is available
for free, giving access to third party users to alter and develop it as per
requirements. Due to the hefty license costs associated with legal,
high-quality audio codecs such as MP3, aptX, and others, many developers have
duplicated the technology and modeling of these audio codecs, making them
easily available in the market. These factors thus negatively impact end-users
and manufacturers in the audio codec market.
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KEY GEOGRAPHIES
COVERED:
• North America: United States and Canada
• Europe:
United Kingdom, France, Germany, Spain, Italy, Russia, and Rest of Europe
• Asia-Pacific:
China, Japan, India, Australia, South Korea, ASEAN Countries, and Rest of Asia-Pacific
• Latin America: Brazil, Mexico, and Rest of Latin America
• Middle East and Africa: Saudi Arabia, Turkey, United Arab Emirates, South Africa, and
Rest of Middle East & Africa
SEGMENTATION
ANALYSIS – AUDIO CODEC MARKET:
• Market by Component:
o Software Audio Codec
o Hardware Audio Codec
Software is
estimated to progress with the highest CAGR during the forecast period. The term software audio codec refers to a
device that compresses and decompresses digital audio signals. Some of the most
well-known and widely used software audio codecs include MP3, windows media
audio (VMA), advanced audio coding (AAC), free lossless audio codec (FLAC),
LDAC, 7 kHz audio coding inside 64 kbps (G.722), Opus, and Vorbis.
• Market by Application:
o Computer
o Phones
o Tablets
o Over-Ear Headphones
o True Wireless Stereo (TWS)
o Home Entertainment
o Commercial
o Automotive
o Portables
o Smart Home
o Wearables
o Other Applications
Phones lead
the market in terms of revenue.
The growing smartphone industry and new marketing investments to expand
production, manufacturing, brand building, services, and others have increased
the implementation of audio codecs in phones. Before smartphones, cellular
phones were equipped with hardware audio codecs for voice calling and music
streaming.
COMPETITIVE
LANDSCAPE:
The competitive landscape
helps dive into data about the key players in the audio codec market. The
strategic initiatives for each of the companies considered have been covered in
detail.
Acquisition
(August 2021): Analog Devices Inc and Maxim Integrated Products Inc
Announced in 2019, Analog Devices Inc completed
the acquisition of Maxim Products Inc in August 2021. Following the
acquisition, Analog became the world leader in mixed-signal and power
technologies such as CODAC, ICs, semiconductors, etc. It expanded the company’s
presence across 35 countries globally, with over 60,000 employees.
Product
Launch (September 2021): Qualcomm
Qualcomm launched Qualcomm aptX, an audio
Bluetooth codec, in September 2021. The device is capable of delivering
CD-quality over the wireless connection established through Bluetooth,
improving the overall audio quality. Besides, it provides an audio resolution
of 16 bit/44.1kHz with a bit-rate of 1mbps.
Key Benefits
of the Report:
• Triton
Market Research has a collective experience of 25-30 years in the industry,
with its analysts and experts encompassing the most infallible research
methodology for its market intelligence and industry analysis.
• Our
research methodology helps in achieving a broader consensus of the market size,
shape, and industry trends within each industry segment.
• The
strategy adopted in designing the research methodology includes the
amalgamation of the information assembled from primary and secondary sources,
with the assistance of analytical tools to construct the forecast and
predictive models.
• The
scope of the market report comprises the current scenario of the global audio
codec market, along with the detailed overview of the industry outlook, market
dynamics, segmentation analysis, regional outlook, and competitive landscape
for the period 2022-2028.
FAQs:
Q 1) What
are audio codecs?
Audio codecs refer to computer software or a
device competent in encoding or decoding a digital audio data stream.
Q 2) What is
the preferred codec for digital audio?
The preferred audio for digital audio includes
uncompressed lossless codec, such as WAV-PCM.
Q 3) Which
are the popular software audio codecs?
The popular software audio codecs include AAC,
ALAC, LADC, aptX, FLAC, MP4, and MP3, among others.
Q 4) What is
the audio codec market size?
The global audio codec market was valued at
$2324.10 million in 2021 and is expected to reach $4242.59 million by 2028,
growing at a CAGR of 9.27% during the forecast period 2022-2028.
Market by Technology (Data ana ..
VIEW REPORT1. GLOBAL
AUDIO CODEC MARKET - SUMMARY
2. INDUSTRY
OUTLOOK
2.1. IMPACT
OF COVID-19 ON AUDIO CODEC MARKET
2.2. EVOLUTION
& TRANSITION OF AUDIO CODEC
2.3. KEY
INSIGHTS
2.3.1. SURGE
IN MOBILE GAMING
2.3.2. EVOLUTION
OF SOFTWARE AUDIO CODEC
2.3.3. GROWING
USAGE OF SMARTPHONE DEVICES
2.4. PORTER’S
FIVE FORCES ANALYSIS
2.4.1. THREAT
OF NEW ENTRANTS
2.4.2. THREAT
OF SUBSTITUTES
2.4.3. BARGAINING
POWER OF BUYERS
2.4.4. BARGAINING
POWER OF SUPPLIERS
2.4.5. THREAT
OF COMPETITIVE RIVALRY
2.5. KEY
IMPACT ANALYSIS
2.5.1. APPLICATION
2.5.2. COST-EFFECTIVENESS
2.5.3. COMPATIBILITY
2.6. MARKET
ATTRACTIVENESS INDEX
2.7. VENDOR
SCORECARD
2.8. INDUSTRY
COMPONENTS
2.9. KEY
MARKET STRATEGIES
2.9.1. ACQUISITIONS
2.9.2. PRODUCT
DEVELOPMENTS
2.9.3. AGREEMENTS
2.9.4. BUSINESS
EXPANSION
2.10. MARKET
DRIVERS
2.10.1. GROWING
ADOPTION OF WEARABLE DEVICES
2.10.2. RISE
IN ENERGY-EFFICIENT DEVICES
2.10.3. ROBUST
OPTIMIZATION TECHNIQUES IN THE ELECTRONICS INDUSTRY
2.11. MARKET
CHALLENGES
2.11.1. PATENTED
MARKET AND IP LICENSING RESTRICTIONS
2.11.2. AVAILABILITY
OF OPEN-SOURCE AUDIO CODECS
2.12. MARKET
OPPORTUNITIES
2.12.1. DEVELOPMENT
OF HD MUSIC STREAMING
2.12.2. EXPANSION
OF CINEMA AND OTT PLATFORM
3. GLOBAL
AUDIO CODEC MARKET OUTLOOK - BY COMPONENT
3.1. SOFTWARE
AUDIO CODEC
3.2. HARDWARE
AUDIO CODEC
4. GLOBAL
AUDIO CODEC MARKET OUTLOOK - BY APPLICATION
4.1. COMPUTER
4.2. PHONES
4.3. TABLETS
4.4. OVER-EAR
HEADPHONES
4.5. TRUE
WIRELESS STEREO
4.6. HOME
ENTERTAINMENT
4.7. COMMERCIAL
4.8. AUTOMOTIVE
4.9. PORTABLE
4.10. SMART
HOMES
4.11. WEARABLES
4.12. OTHER
APPLICATIONS
5. GLOBAL
AUDIO CODEC MARKET – REGIONAL OUTLOOK
5.1. NORTH
AMERICA
5.1.1. MARKET
BY COMPONENT
5.1.2. MARKET
BY APPLICATION
5.1.3. COUNTRY
ANALYSIS
5.1.3.1. UNITED
STATES
5.1.3.2. CANADA
5.2. EUROPE
5.2.1. MARKET
BY COMPONENT
5.2.2. MARKET
BY APPLICATIONS
5.2.3. COUNTRY
ANALYSIS
5.2.3.1. UNITED
KINGDOM
5.2.3.2. GERMANY
5.2.3.3. FRANCE
5.2.3.4. SPAIN
5.2.3.5. ITALY
5.2.3.6. RUSSIA
5.2.3.7. REST
OF EUROPE
5.3. ASIA-PACIFIC
5.3.1. MARKET
BY COMPONENT
5.3.2. MARKET
BY APPLICATION
5.3.3. COUNTRY
ANALYSIS
5.3.3.1. CHINA
5.3.3.2. JAPAN
5.3.3.3. INDIA
5.3.3.4. SOUTH
KOREA
5.3.3.5. ASEAN
COUNTRIES
5.3.3.6. AUSTRALIA
& NEW ZEALAND
5.3.3.7. REST
OF ASIA-PACIFIC
5.4. LATIN
AMERICA
5.4.1. MARKET
BY COMPONENT
5.4.2. MARKET
BY APPLICATION
5.4.3. COUNTRY
ANALYSIS
5.4.3.1. BRAZIL
5.4.3.2. MEXICO
5.4.3.3. REST
OF LATIN AMERICA
5.5. MIDDLE
EAST AND AFRICA
5.5.1. MARKET
BY COMPONENT
5.5.2. MARKET
BY APPLICATION
5.5.3. COUNTRY
ANALYSIS
5.5.3.1. UNITED
ARAB EMIRATES
5.5.3.2. SAUDI
ARABIA
5.5.3.3. TURKEY
5.5.3.4. SOUTH
AFRICA
5.5.3.5. REST
OF MIDDLE EAST & AFRICA
6. COMPETITIVE
LANDSCAPE
6.1. ANALOG
DEVICES INC
6.2. CIRRUS
LOGIC INC
6.3. QUALCOMM
INC
6.4. DIALOG
SEMICONDUCTOR PLC
6.5. DOLBY
LABORATORIES INC
6.6. REALTEK
SEMICONDUCTOR CORP
6.7. TEXAS
INSTRUMENTS INC
6.8. FRAUNHOFER
INSTITUTE OF INTEGRATED CIRCUITS
6.9. STMICROELECTRONICS
6.10. BARIX
AG
6.11. ROHM
CORPORATE LTD
6.12. ITTIAM
SYSTEMS PVT LTD
6.13. SONY
GROUP INC
6.14. SYNOPSYS
TECHNOLOGY INC
6.15. SYNAPTICS
INC
7. RESEARCH
METHODOLOGY & SCOPE
7.1. RESEARCH
SCOPE & DELIVERABLES
7.2. SOURCES
OF DATA
7.3. RESEARCH
METHODOLOGY
TABLE 1: GLOBAL AUDIO CODEC
MARKET, BY REGIONAL OUTLOOK, 2022-2028 (IN $ MILLION)
TABLE 2: VENDOR SCORECARD
TABLE 3: LIST OF ACQUISITIONS
TABLE 4: LIST OF PRODUCT
LAUNCHES & DEVELOPMENTS
TABLE 5: LIST OF PARTNERSHIPS
& AGREEMENTS
TABLE 6: LIST OF BUSINESS
EXPANSIONS & DIVESTITURES
TABLE 7: REGION-WISE SMART WEARABLE
BANDS SHIPMENT 2020 (IN $ MILLION)
TABLE 8: GLOBAL AUDIO CODEC
MARKET, BY COMPONENT, 2022-2028 (IN $ MILLION)
TABLE 9: GLOBAL AUDIO CODEC
MARKET, BY APPLICATION, 2022-2028 (IN $ MILLION)
TABLE 10: GLOBAL AUDIO CODEC MARKET,
BY REGIONAL OUTLOOK, 2022-2028 (IN $ MILLION)
TABLE 11: NORTH AMERICA AUDIO
CODEC MARKET, BY COUNTRY, 2022-2028 (IN $ MILLION)
TABLE 12: NORTH AMERICA AUDIO
CODEC MARKET, BY COMPONENT, 2022-2028 (IN $ MILLION)
TABLE 13: NORTH AMERICA AUDIO
CODEC MARKET, BY APPLICATION, 2022-2028 (IN $ MILLION)
TABLE 14: EUROPE AUDIO CODEC
MARKET, BY COUNTRY, 2022-2028 (IN $ MILLION)
TABLE 15: EUROPE AUDIO CODEC
MARKET, BY COMPONENT, 2022-2028 (IN $ MILLION)
TABLE 16: EUROPE AUDIO CODEC
MARKET, BY APPLICATION, 2022-2028 (IN $ MILLION)
TABLE 17: ASIA-PACIFIC AUDIO
CODEC MARKET, BY COUNTRY, 2022-2028 (IN $ MILLION)
TABLE 18: ASIA-PACIFIC AUDIO
CODEC MARKET, BY COMPONENT, 2022-2028 (IN $ MILLION)
TABLE 19: ASIA-PACIFIC AUDIO
CODEC MARKET, BY APPLICATION, 2022-2028 (IN $ MILLION)
TABLE 20: LATIN AMERICA AUDIO
CODEC MARKET, BY COUNTRY, 2022-2028 (IN $ MILLION)
TABLE 21: LATIN AMERICA AUDIO
CODEC MARKET, BY COMPONENT, 2022-2028 (IN $ MILLION)
TABLE 22: LATIN AMERICA AUDIO
CODEC MARKET, BY APPLICATION, 2022-2028 (IN $ MILLION)
TABLE 23: MIDDLE EAST AND
AFRICA AUDIO CODEC MARKET, BY COUNTRY, 2022-2028 (IN $ MILLION)
TABLE 24: MIDDLE EAST AND
AFRICA AUDIO CODEC MARKET, BY COMPONENT, 2022-2028 (IN $ MILLION)
TABLE 25: MIDDLE EAST AND
AFRICA AUDIO CODEC MARKET, BY APPLICATION, 2022-2028 (IN $ MILLION)
FIGURE 1: PENETRATION RATE OF
MOBILE GAMES, BY TYPE, 2020 (IN %)
FIGURE 2: WORLDWIDE SMARTPHONE
USERS IN 2016-2025
FIGURE 3: KEY BUYING IMPACT
ANALYSIS
FIGURE 4: MARKET
ATTRACTIVENESS INDEX
FIGURE 5: INDUSTRY COMPONENTS
FIGURE 6: PENETRATION RATE OF
OTT PLATFORMS, BY DEVICE TYPE, 2021 (IN %)
FIGURE 7: GLOBAL AUDIO CODEC
MARKET, COMPONENT OUTLOOK, 2021 & 2028 (IN %)
FIGURE 8: GLOBAL AUDIO CODEC
MARKET, BY SOFTWARE AUDIO CODEC, 2022-2028 (IN $ MILLION)
FIGURE 9: GLOBAL AUDIO CODEC
MARKET, BY HARDWARE AUDIO CODEC, 2022-2028 (IN $ MILLION)
FIGURE 10: GLOBAL AUDIO CODEC
MARKET, APPLICATION OUTLOOK, 2021 & 2028 (IN %)
FIGURE 11: GLOBAL AUDIO CODEC
MARKET, BY COMPUTER, 2022-2028 (IN $ MILLION)
FIGURE 12: GLOBAL AUDIO CODEC
MARKET, BY PHONE, 2022-2028 (IN $ MILLION)
FIGURE 13: GLOBAL AUDIO CODEC
MARKET, BY TABLETS, 2022-2028 (IN $ MILLION)
FIGURE 14: GLOBAL AUDIO CODEC
MARKET, BY OVER-EAR HEADPHONES, 2021-2028 (IN $ MILLION)
FIGURE 15: GLOBAL AUDIO CODEC
MARKET, BY TRUE WIRELESS STEREO, 2022-2028 (IN $ MILLION)
FIGURE 16: GLOBAL AUDIO CODEC
MARKET, BY HOME ENTERTAINMENT, 2022-2028 (IN $ MILLION)
FIGURE 17: GLOBAL AUDIO CODEC
MARKET, BY COMMERCIAL, 2022-2028 (IN $ MILLION)
FIGURE 18: GLOBAL AUDIO CODEC
MARKET, BY AUTOMOTIVE, 2022-2028 (IN $ MILLION)
FIGURE 19: GLOBAL AUDIO CODEC
MARKET, BY PORTABLE, 2022-2028 (IN $ MILLION)
FIGURE 20: GLOBAL AUDIO CODEC
MARKET, BY SMART HOME, 2022-2028 (IN $ MILLION)
FIGURE 21: GLOBAL AUDIO CODEC
MARKET, BY WEARABLES, 2022-2028 (IN $ MILLION)
FIGURE 22: GLOBAL AUDIO CODEC
MARKET, BY OTHER APPLICATIONS, 2022-2028 (IN $ MILLION)
FIGURE 23: GLOBAL AUDIO CODEC
MARKET, REGIONAL OUTLOOK, 2021 & 2028 (IN %)
FIGURE 24: UNITED STATES AUDIO
CODEC MARKET 2022-2028 (IN $ MILLION)
FIGURE 25: CANADA AUDIO CODEC
MARKET 2022-2028 (IN $ MILLION)
FIGURE 26: UNITED KINGDOM
AUDIO CODEC MARKET 2022-2028 (IN $ MILLION)
FIGURE 27: GERMANY AUDIO CODEC
MARKET 2022-2028 (IN $ MILLION)
FIGURE 28: FRANCE AUDIO CODEC
MARKET 2022-2028 (IN $ MILLION)
FIGURE 29: SPAIN AUDIO CODEC
MARKET 2022-2028 (IN $ MILLION)
FIGURE 30: ITALY AUDIO CODEC
MARKET 2022-2028 (IN $ MILLION)
FIGURE 31: RUSSIA AUDIO CODEC
MARKET 2022-2028 (IN $ MILLION)
FIGURE 32: REST OF EUROPE
AUDIO CODEC MARKET 2022-2028 (IN $ MILLION)
FIGURE 33: CHINA AUDIO CODEC
MARKET 2022-2028 (IN $ MILLION)
FIGURE 34: JAPAN AUDIO CODEC
MARKET 2022-2028 (IN $ MILLION)
FIGURE 35: INDIA AUDIO CODEC
MARKET 2022-2028 (IN $ MILLION)
FIGURE 36: SOUTH KOREA AUDIO
CODEC MARKET 2022-2028 (IN $ MILLION)
FIGURE 37: ASEAN COUNTRIES
AUDIO CODEC MARKET 2022-2028 (IN $ MILLION)
FIGURE 38: AUSTRALIA & NEW
ZEALAND AUDIO CODEC MARKET 2022-2028 (IN $ MILLION)
FIGURE 39: REST OF ASIA-PACIFIC
AUDIO CODEC MARKET 2022-2028 (IN $ MILLION)
FIGURE 40: BRAZIL AUDIO CODEC
MARKET 2022-2028 (IN $ MILLION)
FIGURE 41: MEXICO AUDIO CODEC
MARKET 2022-2028 (IN $ MILLION)
FIGURE 42: REST OF LATIN
AMERICA AUDIO CODEC MARKET 2022-2028 (IN $ MILLION)
FIGURE 43: UNITED ARAB
EMIRATES AUDIO CODEC MARKET 2022-2028 (IN $ MILLION)
FIGURE 44: SAUDI ARABIA AUDIO
CODEC MARKET 2022-2028 (IN $ MILLION)
FIGURE 45: TURKEY AUDIO CODEC
MARKET 2022-2028 (IN $ MILLION)
FIGURE 46: SOUTH AFRICA AUDIO
CODEC MARKET 2022-2028 (IN $ MILLION)
FIGURE 47: REST OF MIDDLE EAST
& AFRICA AUDIO CODEC MARKET 2022-2028 (IN $ MILLION)