GLOBAL AUDIO CODEC MARKET 2022-2028

ICT | Semiconductor

GLOBAL AUDIO CODEC MARKET 2022-2028

Market by Component, Application, and Regional Outlook | Forecast 2022-2028

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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.

 

Click here to check out our blog on the Global Audio Codec Market

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.

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Table of Content

1. 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

List of Tables

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)

List of Figures

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)

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