Global Audio Codec Market (2023-2028) Competitive Analysis, Impact of Covid-19, Ansoff Analysis

The Global Audio Codec Market is estimated to be USD 7.01 Bn in 2023 and is expected to reach USD 9.93 Bn by 2028 growing at a CAGR of 7.21%.

Market Dynamics

The expansion of the global audio codec market is being derived by factors such as the rising population and increasing disposable income of the people and the availability of low-cost mobile devices, tablets, and other devices such as television. Audio codecs influence consumers' listening experiences, whether using headphones, earbuds, or Bluetooth speakers. As a result, as the smartphone industry grows, so will the need for audio codecs. In addition, Technological advancements, innovations bought in by the key market players, and increased internet penetration are some other aspects that are positively affecting and creating opportunities for the growth of the global audio codec industry.

However, the issue of ongoing component size optimization in audio codec devices is restraining the market. In addition, with technological advancements, the use of optical media goods is gradually decreasing, which is negatively influencing and creating a challenge for the global audio codec market's growth.

Market Segmentation

• The Global Audio Codec Market is segmented further based on Component Type, Application, and Geography.
• By Component Type, the market is classified into hardware-based audio codec, software-based audio codec. Amongst all, the hardware-based audio codec segment is estimated to hold the highest market share during the forecast period.
• By Application, the market is classified as automobile, television sets, smartphones and tablets, desktop and laptops, headphone, head sets and wearable devices, music & media devices and home theatres, gaming consoles others. Amongst all, the automobile segment is estimated to hold the highest market share during the forecast period.
• By Geography, North America is projected to lead the market.

Recent Developments

1. AMS launches industry's smallest proximity sensor to enable integration of new functionality in space-constrained wireless earbuds - 16th February 2021.
2. Qualcomm Technologies launched the aptX voice audio, a new voice codec that provides high-definition voice quality over a connection using Bluetooth wireless technology - 6th January 2020.
3. Broadcom Completes Acquisition of Symantec Enterprise Security Business -4th November 2019

Company Profiles

Some of the companies covered in this report are AMS AG, Analog Devices, Inc, Asahi Kasei Microdevices Corporation, ATC LABS, BARIX AG etc.

Competitive Quadrant

The report includes Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Why buy this report?

• The report offers a comprehensive evaluation of the Global Audio Codec Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
• The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
• The report includes an in-depth market analysis using Porter's 5 forces model and the Ansoff Matrix. In addition, the impact of Covid-19 on the market is also featured in the report.
• The report also includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
• The report also contains the competitive analysis using Positioning Quadrants, the Proprietary competitive positioning tool.

Report Highlights:

• A complete analysis of the market, including parent industry
• Important market dynamics and trends
• Market segmentation
• Historical, current, and projected size of the market based on value and volume
• Market shares and strategies of key players
• Recommendations to companies for strengthening their foothold in the market