Audio Codec Market by Component Type (Hardware and Software), Application (Desktop and Laptop, Mobile Phone and Tablet, Headphones, Headset and Wearable Devices), and Region - Forecast to 2025

Audio Codec Market by Component Type (Hardware and Software), Application (Desktop and Laptop, Mobile Phone and Tablet, Headphones, Headset and Wearable Devices), and Region - Forecast to 2025

The audio codec market is expected to grow at a CAGR of 5.5% from USD 5.9 billion in 2020 to USD 7.8 billion. Some of the Factors such as penetration of internet users which are generating traffic, demand for telecommunication devices and products as there are restrictions globally amidst the pandemic and consumer trends inclined for IoT enabled smartphones and related devices.

“Audio codec market for headset, hearables and wearable devices application to grow at highest CAGR during forecast period”
The audio codec market for headset, hearables and wearable devices application is expected to grow at the highest CAGR during the forecast period considering the surge in the demand for wireless electronic products such as earplugs, smart watches, bluetooth speakers and others. Many automotive companies are diversifying their business portfolio in order to cater upgraded audio enabled music and communication devices in the manufacturing stage.

“China is accounted for largest share in 2020 and further in the forecast period”
The audio codec market in India is projected to share the largest market share during the forecast period. The highest CAGR is because of the presence of manufacturing capabilities in consumer goods and electronic products. Moreover, the R&D from China has helped the increasing the market share of audio products in the audio codec market.

Breakdown of the profile of primary participants:
By Company Type: Tier 1 – 60 %, Tier 2 – 25%, and Tier 3 – 15%
By Designation: C-level Executives – 50%, Directors - 30%, and Others -20%
By Region: APAC – 40 %, NA – 25%, Europe – 20%, and RoW – 15%

The major players profiled in this report include:
Analog Devices (US)
Cirrus Logic (US)
Maxim Integrated (US)
Qualcomm (US)
Realtek Semiconductor (Taiwan)
STMicroelectronics (Switzerland)
Texas Instruments (US)
DSP Group (US)
Dolby Laboratories (US)
technicolor (France)

Research Coverage
The study segments the audio codec market report into component type (hardware and software) and by application (desktop and laptop, mobile phone and tablet, headphones, headset and wearable devices) The study also provides market size for various segments regarding global regions.

Reasons to buy the report
The report would help the market leaders/new entrants in this market in the following ways:
1. This report segments the audio codec market comprehensively provides the closest approximations of the overall market size and those of the subsegments across different applications and regions.
2. The report provides a detailed analysis of the audio codec market with the help of competitive leadership mapping, including crucial companies in the market and their relations in the ecosystem.
3. The report helps stakeholders understand the pulse of the market and provide them information on the key market drivers, restraints, challenges, and opportunities.
4. This report would help stakeholders understand their competitors better and gain insights to enhance their position in the business. The competitive landscape section includes the competitor ecosystem, product developments, partnerships, and mergers & acquisitions in the audio codec market.