Insights on the Audio Codec Global Market to 2028 - Growing Adoption of Wearable Devices and a Surge in Energy-Efficient Devices is Driving Growth

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Dublin, July 01, 2022 (GLOBE NEWSWIRE) -- The "Global Audio Codec Market 2022-2028" report has been added to ResearchAndMarkets.com's offering.

The global market for audio codecs is expected to register revenue growth at a CAGR of 9.27% over the forecasting period 2022-2028.

The growing adoption of wearable devices, a surge in energy-efficient devices, and implementation of optimization techniques in the electronics sectors support the studied market's growth globally. In addition, the development of HD music streaming and the expansion of OTT generates new opportunities for the global market.

However, patented market and IP licensing limitations and availability of open-source audio codecs negatively impact the overall market's growth.

REGIONAL OUTLOOK

The global audio codec market includes North America, Asia-Pacific, Latin America, Europe, and the Middle East and Africa regions.

Globally, the Asia-Pacific is expected to emerge as the fastest-growing region during the forecast period. The region's robust growth can be attributed to the growing popularity of streaming media among the young population. This popularity has resulted in the market attaining the largest share in the region. Furthermore, the adoption of an enhanced voice services codec that is standardized for mobile communication has contributed to the growth of the audio codec market. Several technologies, such as lossless audio codecs, are being tested and offered in the region first, which ultimately propels the audio codec market on a growth path.

COMPETITIVE OUTLOOK

The prominent companies mentioned in the audio codec market are Ittiam Systems Pvt Ltd, Rohm Corporate Ltd, Barix AG, Analog Devices Inc, Synopsys Technology Inc, Texas Instruments Inc, Qualcomm Inc, Cirrus Logic Inc, STMicroelectronics, Dialog Semiconductor Plc, Fraunhofer Institute of Integrated Circuits, Synaptics Inc, Realtek Semiconductor Corp, Dolby Laboratories Inc, and Sony Group Inc.

Qualcomm Inc is a technology company involved in designing, manufacturing, and marketing digital technologies and products employed in mobile devices, wireless products, and network equipment. It also offers audio codecs, server processors, cellular modems, and Bluetooth products, among others. The company provides products and services across various industries, including telecom, automotive, AI, and computing. Besides, it markets products under various brands such as MSM, Hexagon, and Wireless Reach. Qualcomm is a global company with operations across the APAC, Europe, and the Middle East and Africa.

Key Topics Covered:

1. Global Audio Codec Market - Summary

2. Industry Outlook
2.1. Impact of Covid-19 on Audio Codec Market
2.2. Evolution & Transition of Audio Codec
2.3. Key Insights
2.3.1. Surge in Mobile Gaming
2.3.2. Evolution of Software Audio Codec
2.3.3. Growing Usage of Smartphone Devices
2.4. Porter'S Five Forces Analysis
2.4.1. Threat of New Entrants
2.4.2. Threat of Substitutes
2.4.3. Bargaining Power of Buyers
2.4.4. Bargaining Power of Suppliers
2.4.5. Threat of Competitive Rivalry
2.5. Key Impact Analysis
2.5.1. Application
2.5.2. Cost-Effectiveness
2.5.3. Compatibility
2.6. Market Attractiveness Index
2.7. Vendor Scorecard
2.8. Industry Components
2.9. Key Market Strategies
2.9.1. Acquisitions
2.9.2. Product Developments
2.9.3. Agreements
2.9.4. Business Expansion
2.10. Market Drivers
2.10.1. Growing Adoption of Wearable Devices
2.10.2. Rise in Energy-Efficient Devices
2.10.3. Robust Optimization Techniques in the Electronics Industry
2.11. Market Challenges
2.11.1. Patented Market and Ip Licensing Restrictions
2.11.2. Availability of Open-Source Audio Codecs
2.12. Market Opportunities
2.12.1. Development of Hd Music Streaming
2.12.2. Expansion of Cinema and Ott Platform

3. Global Audio Codec Market Outlook - by Component
3.1. Software Audio Codec
3.2. Hardware Audio Codec

4. Global Audio Codec Market Outlook - by Application
4.1. Computer
4.2. Phones
4.3. Tablets
4.4. Over-Ear Headphones
4.5. True Wireless Stereo
4.6. Home Entertainment
4.7. Commercial
4.8. Automotive
4.9. Portable
4.10. Smart Homes
4.11. Wearables
4.12. Other Applications

5. Global Audio Codec Market - Regional Outlook

6. Competitive Landscape
6.1. Analog Devices Inc
6.2. Cirrus Logic Inc
6.3. Qualcomm Inc
6.4. Dialog Semiconductor plc
6.5. Dolby Laboratories Inc
6.6. Realtek Semiconductor Corp
6.7. Texas Instruments Inc
6.8. Fraunhofer Institute of Integrated Circuits
6.9. Stmicroelectronics
6.10. Barix AG
6.11. Rohm Corporate Ltd
6.12. Ittiam Systems Pvt Ltd
6.13. Sony Group Inc
6.14. Synopsys Technology Inc
6.15. Synaptics Inc

7. Research Methodology & Scope

For more information about this report visit https://www.researchandmarkets.com/r/fu5vcd

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