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The global audio codec market is projected to register a CAGR of 5.60% during the forecast period, 2021-2028

·3-min read

The market growth drivers include the rising use of energy-efficient devices, increased optimization technique in audio codecs, and the growing use of smartphones. MARKET INSIGHTS

New York, Nov. 02, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "GLOBAL AUDIO CODEC MARKET FORECAST 2021-2028" - https://www.reportlinker.com/p06178666/?utm_source=GNW
An audio codec is a computer program that can encode or decode a digital data stream, which decodes or encodes audio.The use of smartphones is surging worldwide.

For instance, it has increased from 3668 million in 2016 to 6738 million in 2021 in terms of the number of users.The MP3 codec in smartphones works with Bluetooth connections.

Also, Bluetooth devices have a calculated connectivity range, three meters for headphones. The manner of Bluetooth transmission from smartphones to headphones is determined by the audio codec.
In addition, the primary goal of the audio codec is to transmit a high-fidelity signal at the minimum bit rate.As a result, with the rising use of smartphones, the demand for audio codecs is set to increase during the forecast period.

At the same time, the market growth is hindered by the patent and IP licensing and vast availability of free open sources.

REGIONAL INSIGHTS
The global audio codec market growth evaluation includes the analysis of North America, Europe, Asia-Pacific, and Rest of World.Asia-Pacific is estimated to harbor the largest revenue share in the global market.

The rising young population in the region offers a conducive base for media streaming.

COMPETITIVE INSIGHTS
The established players account for 50% of the global share and are sustaining it through acquisitions.This is one of the significant factors contributing to high competitive rivalry.

Texas Instruments Incorporated, Dialog Semiconductor Plc (Acquired by Renesas), Dolby Laboratories Inc, Realtek Semiconductor Corporation, Qualcomm Incorporated, etc., are among the established market players.

Our report offerings include:
• Explore key findings of the overall market
• Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
• Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
• Market Segmentation cater to a thorough assessment of key segments with their market estimations
• Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
• Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
• Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
• Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments

Companies mentioned
1. ANALOG DEVICES INC
2. BARIX AG
3. CIRRUS LOGIC INC
4. DIALOG SEMICONDUCTOR PLC (ACQUIRED BY RENESAS)
5. DOLBY LABORATORIES INC
6. FRAUNHOFER INSTITUTE OF INTEGRATED CITCUITS
7. ITTIAM SYSTEMS PVT LTD
8. QUALCOMM INCORPORATED
9. REALTEK SEMICONDUCTORS CORPORATION
10. ROHM CORPORATION LTD
11. SONY GROUP CORPORATION
12. STMICROELECTRONICS
13. SYNAPTICS INC
14. SYNOPSYS TECHNOLOGY INC
15. TEXAS INSTRUMENTS INCORPORATED
Read the full report: https://www.reportlinker.com/p06178666/?utm_source=GNW

About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.

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