Global Audio CODEC Market to Reach US$ 9.1 Billion by 2032, Propelled by the Widespread Adoption of Digital Audio Formats

May 18, 2023 | Electronics and Semiconductors

The latest report by IMARC Group, titled "Audio CODEC Market Report by Function (With DSP, Without DSP), Component (Hardware, Software), End Use (Computer, Phones, Tablets, Over-Ear Headphones, TWS, Home Entertainment, Commercial, Automotive, Portable, Smart Home, IoT, Wearable, AR/VR), and Region 2024-2032," finds that the global audio CODEC market size reached US$ 6.6 Billion in 2023. An audio coder-decoder (CODEC) is a technology for encoding and decoding digital audio signals. It is responsible for compressing audio data for efficient storage or transmission and then decompressing it for playback or processing. An audio CODEC aims to minimize the size of audio files while maintaining acceptable audio quality. An audio CODEC employs various algorithms to achieve compression and decompression. This algorithm analyzes the audio signal, removes redundancies, and represents the data in a more efficiently. There are two main types of audio CODECs, such as lossless and lossy. Lossless CODEC preserves all the original audio data without any loss in quality. It achieves compression by removing redundant information and utilizing advanced mathematical techniques. Lossless CODEC is commonly used in professional audio applications where audio quality is of utmost importance and file size reduction is secondary.

Global Audio CODEC Market Trends:

One of the primary factors driving the market is the widespread adoption of digital audio formats. Additionally, the rise of streaming services has also contributed to the growth of the audio CODEC market. Audio CODECs that offer a balance between compression efficiency and audio fidelity are in high demand, enabling streaming services to provide optimal audio experiences to their users. With the increasing popularity of music and video streaming platforms, efficient audio CODECs are essential for delivering high-quality audio over limited bandwidth connections. Consequently, the growing demand for high-quality audio experiences is increasing the adoption of advanced audio CODECs. In addition, consumers are increasingly seeking immersive and high-fidelity audio in various applications, including home entertainment, gaming, virtual reality, and automotive systems. This demand for enhanced audio quality pushes the development of CODECs that can deliver superior sound reproduction, spatial audio, and improved dynamic range. Furthermore, the advancements in audio compression technologies play a significant role in driving the audio CODEC market. As technology evolves, new and improved compression algorithms are developed, offering higher compression levels while maintaining acceptable audio quality. These advancements enable audio delivery content in various applications with reduced bandwidth and storage requirements. Looking forward, IMARC Group expects the market to reach US$ 9.1 Billion by 2032, exhibiting a growth rate (CAGR) of 3.43% during 2024-2032.

Market Summary:

On the basis of the function, the market has been segmented into with DSP and without DSP.
Based on the component, the market has been classified into hardware and software.
On the basis of the end use, the market has been bifurcated into computer, phones, tablets, over-ear headphones, TWS, home entertainment, commercial, automotive, portable, smart home, IoT, wearable, and AR/VR.
Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Russia, Spain, and others), Latin America (Brazil, Mexico, and others), and the Middle East and Africa.
The competitive landscape of the market has been examined in the report, with some of the key players being Analog Devices Inc., Barix, Cirrus Logic Inc., DSP Group Inc., Qualcomm Inc., Realtalk Semiconductor Corp., Rohm Co. Ltd., STMicroelectronics and Texas Instruments Inc.

Report Scope:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	US$ Billion
Segment Coverage	Function, Component, End Use, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	Analog Devices Inc., Barix, Cirrus Logic Inc., DSP Group Inc., Qualcomm Inc., Realtek Semiconductor Corp., Rohm Co. Ltd, STMicroelectronics and Texas Instruments Inc.
Customization Scope	10% Free Customization
Report Price and Purchase Option	Single User License: US$ 3899 Five User License: US$ 4899 Corporate License: US$ 5899
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global Audio CODEC Market to Reach US$ 9.1 Billion by 2032, Propelled by the Widespread Adoption of Digital Audio Formats

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