Audio CODEC Market to Reach $14.12 Bn, Globally, by 2027 at 4.1% CAGR: Allied Market Research

Surge in penetration of smartphones, advent of IoT enabled devices, and increase in energy-efficient audio systems' demand fuel the growth of the global audio CODEC market.

News provided by

Allied Market Research

Apr 13, 2021, 09:45 ET

PORTLAND, Ore., April 13, 2021 /PRNewswire/ -- Allied Market Research published a report, titled, "Audio CODEC Market By Function (With DSP and Without DSP) and End Use (Computer, Phone, Tablet, Over-Ear Headphone, TWS, Home Entertainment, Commercial, Automotive, Portable, Smart Home, IoT, Wearable, and AR/VR): Global Opportunity Analysis and Industry Forecast, 2020–2027." According to the report, the global audio CODEC industry garnered $11.44 billion in 2019, and is estimated to reach $14.12 billion by 2027, manifesting a CAGR of 4.1% from 2020 to 2027.

Prime determinants of growth

Surge in penetration of smartphones, advent of IoT enabled devices, and increase in energy-efficient audio systems' demand fuel the growth of the global audio CODEC market. However, omnipresence of audio SoC and fatal effects on health and environment restrain the market growth. On the other hand, increase in demand for on-board entertainment, development and rapid adoption of VR technology, and rise in gaming consoles' demand create new opportunities in the next few years.

Request PDF Brochure: https://www.alliedmarketresearch.com/request-sample/10714

Covid-19 Scenario

The production activities of audio CODEC have been stopped due to lockdown imposed by governments in many countries. In addition, the shortage of raw materials occurred due to disruptions in the supply chain.
The demand from various end use industries such as smartphones, automotive parts, tablets, computers, headphones, and others reduced significantly due to stoppage of daily operations or partial continuation of production activities. However, the demand is estimated to increase steadily during the post-lockdown as day-to-day activities begin and supply chain gets back on track.

The without DSP segment to continue its leadership status throughout the forecast period

By function, the without DSP segment accounted for the largest share in 2019, holding more than three-fourths of the global audio CODEC market, and is projected to continue its leadership status throughout the forecast period. This is due to technical benefits offered by them. However, the with DSP segment is estimated to register the highest CAGR of 4.9% from 2020 to 2027, owing to technological advancements and improvement in wireless infrastructure.

Get detailed COVID-19 impact analysis on the Audio Codec Market: https://www.alliedmarketresearch.com/request-for-customization/10714?reqfor=covid

The phones segment to maintain its lead position during the forecast period

By end use, the phones segment contributed to the highest share in 2019, accounting for more than two-fifths of the global audio CODEC market, and is expected to maintain its lead position during the forecast period. This is attributed to increased adoption of smartphones and demand for high quality voice assistance. However, the smart home segment is estimated to witness the fastest CAGR of 8.0% from 2020 to 2027, owing to integration of advanced technologies with consumer goods.

Asia-Pacific, followed by North America, to offer lucrative opportunities

Based on region, Asia-Pacific, followed by North America, held the highest share in 2019, accounting for more than one-third of the global audio CODEC market in terms of revenue, and is projected to maintain its dominance by 2027. Moreover, this region is expected to witness the largest CAGR of 4.8% during the forecast period. This is due to significant demand for consumer goods and rise in disposable income of the population.

Leading market players

Analog Devices
Cirrus Logic
CML Microelectronics
Dialog Semiconductor
DSP Group
Maxim Integrated
Realtek Semiconductor
ROHM CO. LTD.
STMicroelectronics
Texas Instruments

Interested in Procuring This Report? Visit Here: https://www.alliedmarketresearch.com/purchase-enquiry/10714

Avenue Basic Plan | Library Access | 1 Year Subscription |

Sign up for Avenue subscription to access more than 12,000+ company profiles and 2,000+ niche industry market research reports at $699 per month, per seat. For a year, the client needs to purchase minimum 2 seat plan.

Avenue Library Subscription | Request for 14 days free trial of before buying: https://www.alliedmarketresearch.com/avenue/trial/starter

Get more information: https://www.alliedmarketresearch.com/library-access

Similar Reports:

Speaker Amplifier Market is Projected to Reach $5.80 Billion by 2027

Audio DSP Market Size is Projected to Reach $23.43 Billion by 2027

Mixed Signal IC Market Size is Projected to Reach $149.80 Billion by 2027

Class D Audio Amplifier Market is Projected to Reach $4.92 Billion by 2026

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free: 1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
[email protected]
Web: https://www.alliedmarketresearch.com
Follow Us on: LinkedIn Twitter