APAC is the fastest-growing region for the audio codec market during the forecast period. APAC is expected to be the fastest growing region of the audio codec market, between 2016 and 2022. APAC also accounts for the largest share in 2016 of the total audio codec market. The primary reason behind this trend is the growing Chinese, South Korean, and Indian consumer electronic market. This market 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. Complete report on audio codec market spread across 146 pages, profiling 12 companies and supported with 64 tables and 63 figures is now available at http://www.rnrmarketresearch.com/audio-codec-market-by-component-hardware-and-software-channel-type-mono-codec-stereo-codec-and-multi-channel-codec-compression-type-non-compression-lossless-compression-and-lossy-compression-application-st-to-2022-market-report.html .
The audio codec market was valued at $5.49 billion in 2015 and is expected to reach $7.44 billion by 2022, at a CAGR of 4.3% between 2016 and 2022 driven by increasing demand for mobile phone and tablet, rising trend of consumer electronics & passenger vehicles and APAC is expected to be the fastest growing region during the forecast period.
The audio codec market for the headphone, headset, and wearable device application is expected to grow at the highest rate between 2016 and 2022. This is mainly because of the growing trend of the usage of wearable devices in the day to day life because of the changing consumer need with the advancement of connected life with the development of IoT concept. Headphone, headset, and wearable device is expected to be the fastest-growing application in the audio codec market during the forecast period.
In the process of determining and verifying, the market size for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted with key people. In Tier 1 (35%), Tier 2 (40%) and Tier 3 (25%) companies were contacted for primary interviews. The interviews were conducted with various key people such as C-level (45%), Director Level (35%) and Managers (20%) from various key organizations operating in the audio codec market. The primary interviews were conducted worldwide covering regions such as North America (30%), Europe (40%), APAC (20%), and RoW (10%).
Mobile phones and tablets held the largest share of the audio codec market in 2016. Growing mobile phone and tablet adoption increases the demand for audio codec. This growth can be attributed to the huge demand for mobile phones and tablets. The rising middle class population and improved disposable income and availability of mobile phones and tablets at a low cost are the driving factors for the growth of mobile phones and tablets.
Some of the major players in the audio codec market are Cirrus Logic, Inc. (U.S.), Texas Instruments Inc. (U.S.), ST Microelectronics N.V (Switzerland), Qualcomm Inc. (U.S.), Analog Devices, Inc. (U.S.), Maxim Integrated Products Inc. (U.S.), Realtek Semiconductor Corp. (Taiwan), Dolby Laboratories, Inc. (U.S.), Fraunhofer IIS (Germany) and Technicolor SA (France). Make an Inquiry on “Audio Codec Market by Component (Hardware and Software), Channel Type (Mono-Codec, Stereo Codec, and Multi-channel Codec), Compression Type (Non-Compression, Lossless Compression, and Lossy Compression), Application, & Geography - Global Forecast to 2022” research report at http://www.rnrmarketresearch.com/contacts/inquire-before-buying?rname=547913 .
On a related note, another research titled Wireless Audio Market Global Forecast to 2022 says, the wireless audio market is expected to reach USD 54.07 billion by 2022, at a CAGR of 23.2% between 2016 and 2022. The growth of the market for smartphones and rise in the adoption of portable devices is driving the wireless audio market. Companies like Apple Inc. (U.S.), Bose Corporation (U.S.), Sonos, Inc. (U.S.), DEIHoldings Inc. (U.S.), Harman International Industries, Incorporated (U.S.), Samsung Electronics Co., Ltd. (South Korea), Sennheiser Electronic GmbH & Co. KG (Germany), Sony Corporation (Japan), Vizio, Inc. (U.S.) and Voxx International Corporation (U.S.) have been profiled in this 152 pages research report available at http://www.rnrmarketresearch.com/wireless-audio-market-by-product-soundbar-speaker-headphones-headset-technology-bluetooth-wi-fi-sonos-airplay-application-home-audio-consumer-automotive-commercial-and-geography-global-forecast-to-2022-market-report.html .
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