PUNE, India, May 17, 2016 /PRNewswire/ --
According to the new market research report on the "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", published by MarketsandMarkets, the market is expected to reach USD 7.44 Billion by 2022, at a CAGR of 4.3% between 2016 and 2022.
Browse 64 market data Tables and 63 Figures spread through 146 Pages and in-depth TOC on "Audio Codec Market"
Early buyers will receive 10% customization on this report.
The most significant factor driving the audio codec market is the increasing mobile phone and tablet adoption. Increasing consumer electronic products and passenger car infotainment are the other factors driving the growth of audio codec market.
Growing mobile phone and tablet adoption increases the demand for audio codec.
Mobile phones and tablets held the largest share of the Audio Codec Market in 2016. 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.
Software accounts almost three-fourth times more market share than the hardware
The software licensing is done at many stages for the same product. First the audio codec IC manufacturer gets the licensing for the usage of audio codec software. The device manufacturer or the system integrator then has to again buy the license from the software vendor to use their software-embedded hardware IC in their product.
Asia-Pacific is the major consumer of audio codec market
APAC is expected to hold the largest share of the total audio codec market in 2016. 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 report also profiles the most promising players in the audio codec market. The competitive landscape of the market presents a very interesting picture where a large number of big and small players have become a force to reckon with. The key players in the audio codec market are Cirrus Logic, Inc. (U.S.), Texas Instruments Inc. (U.S.), STMicroelectronics N.V (Switzerland), Qualcomm Inc. (U.S.), Analog Devices, Inc. (U.S.) and Maxim Integrated Products Inc. (U.S.), Realtek Semiconductor Corp. (Taiwan), Dolby Laboratories, Inc. (U.S.), Fraunhofer IIS (Germany), and Technicolor SA (France) among others.
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The report articulates the drivers, restraints, challenges, and opportunities with respect to the audio codec market and forecast the market till 2022. The report also gives a qualitative and quantitative description about different segments considered for audio codec market. This global report gives a detailed view of the market across the four geographical regions, namely, the Americas, Europe, APAC, and RoW.
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