Audio Codec Market Worth USD 7.44 Billion by 2022 - Driven by Increasing Internet Penetration & Data Traffic - Research and Markets
DUBLIN, May 25, 2016 /PRNewswire/ --
Research and Markets has announced the addition of the "Audio Codec Market by Component, Channel Type, Compression Type, Application, & Geography - Global Forecast to 2022" report to their offering.
The audio codec market was valued at USD 5.49 Billion in 2015 and is expected to reach USD 7.44 Billion by 2022, at a CAGR of 4.3% between 2016 and 2022.
The growth of the market is driven by the factors such as increasing Internet penetration and data traffic and growing mobile phone subscription. In almost all the regions, the consumer's pattern is changing with the emergence of connected life in the form of connected infrastructures and machineries. Similarly, the increasing use of mobile broadband-enabled smartphones would generate an explosion of data traffic.
The fastest-growing applications and the major consumer of the audio codec are wearable device, headphone and headset, and music and media device, and home theater systems. The mobile phones and tablet are significantly manufactured at a high rate among all the consumer electronics and hence consume the highest volume of the audio codec hardware IC embedded with audio codec software. Increased demand for transmitting audio with high-fidelity (Hi-Fi) with low bit rate is generating more demand for the audio codec market.
The APAC region held the largest share of the total audio codec market in 2015. The APAC region has emerged as a major manufacturing hub for the consumer electronic industry; this has led to the majority of the market share, in terms of audio codec consumption volume, for both hardware as well as software. The market in this region has evolved into the largest producer of smartphones, laptops, TVs, and various other applications and, consequently the largest consumer of audio codec hardware IC-enabled with audio codec software across the globe and is expected to continue the same trend throughout the forecast period.
Decline in the usage of optical media products is the factor inhibiting the growth of this market.
Companies Mentioned:
- Analog Devices, Inc.
- Cirrus Logic, Inc.
- Dolby Laboratories, Inc.
- DSP Group, Inc.
- Fraunhofer IIS
- Maxim Integrated Products, Inc.
- Qualcomm Inc.
- Realtek Semiconductor Corp.
- Stmicroelectronics N.V.
- Technicolor SA
- Texas Instruments Inc.
- Xiph.Org
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Audio Codec Market, By Component
8 Audio Codec Market, By Application
9 Audio Codec Market, By Geography
10 Competitive Landscape
11 Company Profiles
For more information visit http://www.researchandmarkets.com/research/d4dpcl/audio_codec
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