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Audio Codecs - Global Market Trajectory & Analytics

  • ID: 4804458
  • Report
  • April 2021
  • Region: Global
  • 275 Pages
  • Global Industry Analysts, Inc
Global Audio Codecs Market to Reach $7.7 Billion by 2027

Amid the COVID-19 crisis, the global market for Audio Codecs estimated at US$6.3 Billion in the year 2020, is projected to reach a revised size of US$7.7 Billion by 2027, growing at a CAGR of 2.8% over the period 2020-2027. Software, one of the segments analyzed in the report, is projected to record 3% CAGR and reach US$6.1 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Hardware segment is readjusted to a revised 2.4% CAGR for the next 7-year period.

The U.S. Market is Estimated at $1.7 Billion, While China is Forecast to Grow at 5.3% CAGR

The Audio Codecs market in the U.S. is estimated at US$1.7 Billion in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$1.6 Billion by the year 2027 trailing a CAGR of 5.3% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 0.7% and 2.1% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 1.3% CAGR.

Select Competitors (Total 38 Featured):
  • Analog Devices, Inc.
  • Cirrus Logic, Inc.
  • Dolby Laboratories, Inc.
  • DSP Group, Inc.
  • Fraunhofer IIS Development Center for X-ray Technology
  • Maxim Integrated Products, Inc.
  • Qualcomm, Inc.
  • Realtek Semiconductor Corp.
  • STMicroelectronics
  • Technicolor SA
  • Texas Instruments, Inc.
  • Xiph.Org Foundation
Frequently Asked Questions about the Global Market for Audio Codecs

What is the estimated value of the Global Market for Audio Codecs?

The Global Market for Audio Codecs was estimated to be valued at $6.3 Billion in 2020.

What is the growth rate of the Global Market for Audio Codecs?

The growth rate of the Global Market for Audio Codecs is 2.9%, with an estimated value of $7.7 Billion by 2027.

What is the forecasted size of the Global Market for Audio Codecs?

The Global Market for Audio Codecs is estimated to be worth $7.7 Billion by 2027.
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  • Influencer Market Insights
  • World Market Trajectories
  • Audio Codec Market: A Prelude
  • Software Dominates Global Audio Codecs Market
  • Exhibit 1: Global Audio Codec Market: Percentage Breakdown of Revenues by Type for 2019
  • Exhibit 2: Global Stereo Audio Codecs Market: Percentage Breakdown of Revenues by Applications for 2019
  • Exhibit 3: Global PCM Audio Codecs Market: Percentage Breakdown of Revenues by Applications for 2019
  • Impact of Covid-19 and a Looming Global Recession
  • Rising Adoption of Smartphones and Tablets: A Growth Opportunity for Audio Codecs Market
  • Exhibit 4: Global Smartphone Shipments in Million Units for the Years 2016 through 2024
  • Exhibit 5: Global Shipments of Tablets in Million Units for 2014 through Q1 2019
  • Smartphone Audio Codecs Market: Rising Adoption of Smartphones Drives Growth
  • Exhibit 6: Global Smartphone Audio Codecs Market: Percentage Breakdown of Revenues by Hardware and Software for 2019
  • With Smartphones Use Rising, Need for High-Quality Voice Calls Drives Need for a Superior Audio Codec
  • Growing Internet Penetration Rates, Massive Increase in Data Traffic, and Rise in Mobile Subscriptions: Opportunity for Audio Codec Market
  • Exhibit 7: Global Internet User Penetration Rate (in %) for the Years 2016 through 2022
  • Exhibit 8: Number of Internet Users Worldwide and Penetration Rate (in %) by Region as of March 2019
  • Exhibit 9: Global IP Data Traffic: Breakdown of Data Traffic (in PB per Month) by Type for 2017, 2019, 2021 and 2023
  • Exhibit 10: Mobile Subscriptions Worldwide in Billions for the Years 2018, 2020, 2022 and 2024
  • Growing Sales of Bluetooth-driven Devices and Bluetooth’s Popularity as a Technology for Wireless Audio Streaming Fuels Demand for Advanced Audio Codecs
  • Exhibit 11: Global Bluetooth Speakers Market: Annual Sales in US$ Billion for the Years 2019, 2021, 2023 and 2025
  • Exhibit 12: Global Bluetooth Headset Sales in Million for 2017, 2019, 2021 and 2023
  • With Wireless Set to be the Future of Headphones, Efforts Focus on Developing Wireless Audio Codec Standard to Improve Fidelity
  • Enhancing Performance with Modified SBC codec (mSBC)
  • Fraunhofer Institute Discontinues MP3 Format
  • With MP3 Discontinued, Audio Codec Supporting Fully Lossless, Multi-use, High resolution, Open and Secure Parameters to Emerge as the Standard
  • Fraunhofer’s Object-Based Audio Codec Emerges as the Future of Immersive Sound
  • Fraunhofer’s Enhanced Voice Services (EVS) Standard: Promise of Unprecedented Voice Call Quality
  • FLAC: A High-Definition MP3 Format
  • xHE-AAC: A Codec Designed for Adaptive Streaming and Digital Radio
  • Innovations & Advancements
  • Microchip Technology Unveils Bluetooth 5.0 Audio SoC for Enabling High Resolution Wireless Audio
  • Qualcomm Unveils Qualcomm Aqstic Audio Codecs for Smartphones
  • Dialog’s DA740x Highly-Integrated Audio Codec Chips: Providing a Mix of Noise Cancellation and Low Power Consumption Advantages
  • Audio Codec
  • Audio Codec Formats


  • Total Companies Profiled: 38
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