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Global Smartphone Audio Codecs Market to Grow at a CAGR of 5% During 2020-2025, Facilitated by Growing Popularity of Music Streaming Services

As per the latest report by IMARC Group, titled “Smartphone Audio Codecs Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025,” the global smartphone audio codecs market experienced healthy growth during 2014-2019. A smartphone audio codec assists in the compression and decompression of a digital audio data stream. It can be both an electronic device that features analog-to-digital converter (ADC) and digital-to-analog converter (DAC) used in sound cards to support audio in and audio out functions, or computer-based software that compresses or decompresses digital audio data as per the media audio coding format. A smartphone audio codec minimizes the number of bits of an audio file while retaining its accuracy and quality. This helps to reduce the need for storage space and bandwidth for transmission.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Global Smartphone Audio Codecs Market Trends:

The market is currently experiencing moderate growth on account of the growing popularity of music streaming services across the globe. Apart from this, boosting sales of smartphones and the rising mobile data traffic represents another factor influencing the demand for smartphone audio codecs positively. Furthermore, the industry recently witnessed the launch of aptX technology that helps reduce the size of an audio file before transmission without affecting its overall sound quality. Moreover, with the increasing adoption of Bluetooth earphones and headphones, leading key players are investing in research and development (R&D) projects to offer innovative and advanced features in their products, such as noise cancellation, 3D sound processing, parametric equalizers and dynamic range control. On account of these factors, the market value is projected to grow at a CAGR of 5% during the forecast period (2020-2025).

Market Summary:

  • Based on the component, the market has been bifurcated into hardware (mono, stereo and multi-channel codecs) and software (non-, lossy and lossless compression).
  • On the basis of the converter type, the market has been bifurcated into ADC and DAC segments.
  • The market has been analyzed on the basis of the application type into iOS and Android.
  • Region-wise, the market has been classified into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others); Europe (the United Kingdom, Germany, France, Italy, Spain, Russia and others); Latin America (Brazil, Mexico and others); and Middle East and Africa.
  • The competitive landscape of the market has been examined, with some of the key players being ams AG, Analog Devices, Inc., Broadcom Inc., Cirrus Logic Inc., CML Microcircuits (UK) Ltd., DescriptionDialog Semiconductor PLC, Integrated Device Technology, Inc., Maxim Integrated Products, Inc., NXP Semiconductors N.V., STMicroelectronics International N.V. and Texas Instruments Incorporated.

 

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