The global audio CODECmarket size reached US$ 6.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 8.1 Billion by 2028, exhibiting a growth rate (CAGR) of 3.93% during 2023-2028.
Audio coder-decoder (CODEC) is an integrated circuit (IC) and computer-based application that compresses and decomposes data stream and digital acoustic signals. Its software-based system implements a range of algorithms that are used for encoding, decoding, and compressing data. It also exhibits the capability of both analog-to-digital converter (ADC) and digital-to-analog converter (DAC). Audio CODEC aids in reducing the audio file size without affecting the data quality and storing high-quality audio signals while utilizing minimum storage space. Along with this, it has easy multichannel interfacing properties, enables low noise distortion, and eliminates the bandwidth required to transmit acoustic signals. Based on these properties, audio CODEC finds extensive applications in automotive infotainment systems, soundbars, home theaters, and consumer electronic devices to offer an immersive experience.
Audio CODEC Market Trends:
The increasing proliferation of internet users, the rising need for various consumer electronics, such as computers, phones, and tablets, and the emergence of the Internet of Things (IoT)-enabled communication devices are primarily driving the Audio CODEC market growth. In line with this, the extensive utilization of several wearable smartwatches, miniaturized electronic devices, wireless headphones, and headsets for entertainment purposes, especially during the COVID-19 pandemic, is supplementing the product demand across the globe. Additionally, the ongoing construction of smart homes equipped with home theaters to watch over-the-top (OTT) series and stream high-definition (HD) music has intensified the widespread adoption of audio CODEC across the residential sector, which is acting as another growth-inducing factor. Moreover, the shifting consumer inclination toward premium automobiles with advanced features has augmented the incorporation of audio CODEC in wireless infotainment systems, which, in turn, is supporting the market growth. Apart from this, the growing demand for virtual reality (VR) integrated gaming consoles with high-quality audio and the continual launch of multiple product variants with enhanced features by key players are creating a positive outlook for the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global audio CODECmarket report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on function, component and end use.
Breakup by Function:
Breakup by Component:
Breakup by End Use:
Breakup by Region:
Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being Analog Devices Inc., Barix, Cirrus Logic Inc., DSP Group Inc., Qualcomm Inc., Realtek Semiconductor Corp., Rohm Co. Ltd, STMicroelectronics and Texas Instruments Inc.
Base Year of the Analysis
Function, Component, End Use, Region
Asia Pacific, Europe, North America, Latin America, Middle East and Africa
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Analog Devices Inc., Barix, Cirrus Logic Inc., DSP Group Inc., Qualcomm Inc., Realtek Semiconductor Corp., Rohm Co. Ltd, STMicroelectronics and Texas Instruments Inc.
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Key Questions Answered in This Report
The global audio CODEC market was valued at US$ 6.4 Billion in 2022.
We expect the global audio CODEC market to exhibit a CAGR of 3.93% during 2023-2028.
The growing adoption of audio CODEC, as it has easy multichannel interfacing properties, enables low noise distortion, eliminates the bandwidth required for transmitting acoustic signals, etc., is primarily driving the global audio CODEC market.
The sudden outbreak of the COVID-19 pandemic has led to the rising demand for audio CODEC, owing to the increasing utilization of miniaturized electronic devices, wearable smartwatches, wireless headphones, and headsets for entertainment purposes.
Based on the function, the global audio CODEC market can be divided into with DSP and without DSP, where without DSP currently accounts for the majority of the global market share.
Based on the component, the global audio CODEC market has been segregated into hardware and software. Currently, hardware exhibits clear dominance in the market.
Based on the end use, the global audio CODEC market can be bifurcated into computer, phones, tablets, over-ear headphones, TWS, home entertainment, commercial, automotive, portable, smart home, IoT, wearable, and AR/VR. Among these, phones hold the largest market share.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where Asia-Pacific currently dominates the global market.
Some of the major players in the global audio CODEC market include Analog Devices Inc., Barix, Cirrus Logic Inc., DSP Group Inc., Qualcomm Inc., Realtek Semiconductor Corp., Rohm Co. Ltd, STMicroelectronics, and Texas Instruments Inc.
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