The global audio CODEC market revenue was around US$ 6.4 billion in 2022 and is estimated to reach US$ 9.05 billion by 2031, growing at a compound annual growth rate (CAGR) of 3.93% during the forecast period from 2023 to 2031.
Audio coder-decoder (CODEC) is a computer-based application and integrated circuit (IC) that compresses and decomposes digital acoustic signals and data streams. Its software-based system implements a range of algorithms that are utilized for data encoding, decoding, and compression. It demonstrates the capability of both digital-to-analog converter (DAC) and analog-to-digital converter (ADC).
Market Driving Factors
Increasing the use of smartphones benefits the market. Smartphones are versatile mobile devices featuring a range of features, including hardware, mobile operating systems, and speech and text functionality. Due to higher audio fidelity than MP3, smartphone companies employ lossless audio CODEC (ALAC) and advanced audio CODEC technologies to deliver voice communication performance and seamless audio.
The high need for energy-efficient audio creates a positive impact on the market. Wireless technology improvements like highly energy-efficient devices are used to achieve the goal of reducing product energy consumption. The demand for energy-efficient electronics has increased as a result of growing energy costs. Furthermore, the increased need for OTT services like Amazon, Netflix, and HBO has generated a new trend in home theatres that encourages the use of energy-efficient audio systems, which raises the demand for audio CODEC technology.
Growth in disposable income has a favorable impact on the market. Consumers are spending more on consumer electronics like entertainment and safety systems as their disposable income has increased. The infrastructures of developed countries, such as Japan, the United States, South Korea, Canada, and the United Kingdom have incredibly effective infrastructures that integrate the latest technological developments in smart devices. Additionally, the surge in popularity of smart devices such as smartphones and smart speakers has positively impacted the demand for audio CODEC hardware.
Health hazards Associated with Audio Devices constrain the market growth.
Regional Analysis
Asia-Pacific is predicted to dominate the market in terms of the largest shares over the projection period. In the region, the introduction of 5G technology is expected to boost consumer devices like tablets, smartphones, and smart speakers. Furthermore, major economic expansion in this region's developing countries, rising per capita income, and the emergence of the Industrial Internet of Things (IoT) are among the important factors boosting the market expansion.
North America dominates the market in terms of the highest CAGR. This is due to IoT-enabled devices fuel the demand for audio CODEC technology. Wireless communication and entertainment devices have expanded throughout the region during the pandemic. Demand for consumer electronics, communication equipment, and entertainment is influenced by high per capita income in regional countries like the US. This region's investors have significantly invested in 5G infrastructure, enhancing the IoT sector.
Segmentation Insights
The phone segment dominates the market in terms of the largest shares during the projection period. The surge of 5G technology, which enables more data to be transferred across wireless networks to provide high-resolution audio, higher performance, and video experiences, has led to a surge in the number of devices, like phones. Therefore, such these factors boost the market expansion.
The Internet of Things (IoT) segment is the fastest-growing segment in the market. This is due to the introduction of a 5G network structure would certainly significantly boost the IoT's market traction. Furthermore, the adoption of IoT-enabled devices is encouraged by increased per-capita income in some regions which is accelerating the market.
Prominent Companies
Segmentation Outline
The global audio CODEC market segmentation focuses on Function, Component, End Use, and Region.
By Function
By Component
By End Use
By Region
[TABLE OF CONTENTS]
1 INTRODUCTION OF GLOBAL AUDIO CODEC MARKET
1.1 OVERVIEW OF THE MARKET
1.2 SCOPE OF REPORT
1.3 ASSUMPTIONS
2 EXECUTIVE SUMMARY: AUDIO CODEC MARKET
3 RESEARCH METHODOLOGY
3.1 DATA MINING
3.2 VALIDATION
3.3 PRIMARY INTERVIEWS
3.4 LIST OF DATA SOURCES
3.5 ANALYST TOOLS AND MODELS
4 GLOBAL AUDIO CODEC MARKET OUTLOOK
4.1 OVERVIEW
4.2 MARKET DYNAMICS AND TRENDS
4.2.1 DRIVERS
4.2.2 RESTRAINTS
4.2.3 OPPORTUNITIES
4.3 PORTERS FIVE FORCE ANALYSIS
4.4 VALUE CHAIN ANALYSIS
4.5 MARKET GROWTH AND OUTLOOK
4.5.1 PRICE TREND ANALYSIS
4.5.2 OPPORTUNITY SHARE
5 GLOBAL AUDIO CODEC MARKET, BY FUNCTION
5.1 OVERVIEW
5.2 WITH DSP
5.3 WITHOUT DSP
6 GLOBAL AUDIO CODEC MARKET, BY COMPONENT
6.1 OVERVIEW
6.2 HARDWARE
6.3 SOFTWARE
7 GLOBAL AUDIO CODEC MARKET, BY END USE
7.1 OVERVIEW
7.2 COMPUTER
7.3 PHONES
7.4 TABLETS
7.5 OVER-EAR HEADPHONES
7.6 TWS
7.7 HOME ENTERTAINMENT
7.8 COMMERCIAL
7.9 AUTOMOTIVE
7.10 PORTABLE
7.11 SMART HOME
7.12 IOT
7.13 WEARABLE
7.14 AR/VR
8 GLOBAL AUDIO CODEC MARKET, BY GEOGRAPHY
8.1 OVERVIEW
8.2 NORTH AMERICA
8.2.1 NORTH AMERICA MARKET SNAPSHOT
8.2.2 U.S.
8.2.3 CANADA
8.2.4 MEXICO
8.3 EUROPE
8.3.1 EUROPE MARKET SNAPSHOT
8.3.2 WESTERN EUROPE
8.3.2.1 THE UK
8.3.2.2 GERMANY
8.3.2.3 FRANCE
8.3.2.4 ITALY
8.3.2.5 SPAIN
8.3.2.6 REST OF WESTERN EUROPE
8.3.3 EASTERN EUROPE
8.3.3. 1 POLAND
8.3.3.2 RUSSIA
8.3.3.3 REST OF EASTERN EUROPE
8.4 ASIA PACIFIC
8.4.1 ASIA PACIFIC MARKET SNAPSHOT
8.4.2 CHINA
8.4.3 JAPAN
8.4.4 INDIA
8.4.5 AUSTRALIA & NEW ZEALAND
8.4.6 ASEAN
8.4.7 REST OF ASIA PACIFIC
8.5 MIDDLE EAST & AFRICA
8.5.1 MIDDLE EAST & AFRICA MARKET SNAPSHOT
8.5.2 UAE
8.5.3 SAUDI ARABIA
8.5.4 SOUTH AFRICA
8.5.5 REST OF MEA
8.6 SOUTH AMERICA
8.6.1 SOUTH AMERICA MARKET SNAPSHOT
8.6.2 BRAZIL
8.6.3 ARGENTINA
8.6.4 REST OF SOUTH AMERICA
9 GLOBAL AUDIO CODEC MARKET COMPETITIVE LANDSCAPE
9.1 OVERVIEW
9.2 COMPANY MARKET RANKING
9.3 KEY DEVELOPMENT STRATEGIES
9.4 COMPETITIVE DASHBOARD
9.5 PRODUCT MAPPING
9.6 TOP PLAYER POSITIONING, 2022
9.7 COMPETITIVE HEATMAP
9.8 TOP WINNING STRATEGIES
10 COMPANY PROFILES
10.1 ANALOG DEVICES INC
10.1.1 OVERVIEW
10.1.2 FINANCIAL PERFORMANCE
10.1.3 PRODUCT OUTLOOK
10.1.4 KEY DEVELOPMENTS
10.1.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.2 BARIX
10.2.1 OVERVIEW
10.2.2 FINANCIAL PERFORMANCE
10.2.3 PRODUCT OUTLOOK
10.2.4 KEY DEVELOPMENTS
10.2.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.3 CIRRUS LOGIC INC
10.3.1 OVERVIEW
10.3.2 FINANCIAL PERFORMANCE
10.3.3 PRODUCT OUTLOOK
10.3.4 KEY DEVELOPMENTS
10.3.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.4 DSP GROUP INC
10.4.1 OVERVIEW
10.4.2 FINANCIAL PERFORMANCE
10.4.3 PRODUCT OUTLOOK
10.4.4 KEY DEVELOPMENTS
10.4.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.5 QUALCOMM INC
10.5.1 OVERVIEW
10.5.2 FINANCIAL PERFORMANCE
10.5.3 PRODUCT OUTLOOK
10.5.4 KEY DEVELOPMENTS
10.5.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.6 REALTEK SEMICONDUCTOR CORP
10.6.1 OVERVIEW
10.6.2 FINANCIAL PERFORMANCE
10.6.3 PRODUCT OUTLOOK
10.6.4 KEY DEVELOPMENTS
10.6.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.7 ROHM CO. LTD
10.7.1 OVERVIEW
10.7.2 FINANCIAL PERFORMANCE
10.7.3 PRODUCT OUTLOOK
10.7.4 KEY DEVELOPMENTS
10.7.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.8 STMICROELECTRONICS
10.8.1 OVERVIEW
10.8.2 FINANCIAL PERFORMANCE
10.8.3 PRODUCT OUTLOOK
10.8.4 KEY DEVELOPMENTS
10.8.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.9 TEXAS INSTRUMENTS INC
10.9.1 OVERVIEW
10.9.2 FINANCIAL PERFORMANCE
10.9.3 PRODUCT OUTLOOK
10.9.4 KEY DEVELOPMENTS
10.9.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
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