Audio Codec Market Worth 7.44 Billion USD by 2022

May 17, 2016, 11:30 ET from MarketsandMarkets

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.

     (Logo: )

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.

Inquiry Before Buying:

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.

Browse Related Reports 

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

Semiconductor IP Market by Form Factor (ICs IP, SOCs IP), Design Architecture (IP cores (Hard IP, Soft IP), Standard IP, Custom IP, Processor Design), Processor Type (Microprocessor, DSP), Verification IP - Global forecast to 2022

About MarketsandMarkets: 

MarketsandMarkets is the world's No. 2 firms in terms of annual published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.

M&M's flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical info graphics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.

We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.

Mr. Rohan
Markets and Markets
 UNIT no 802, Tower no. 7, SEZ
Magarpatta City, Hadapsar
Pune, Maharashtra 411013, India
Tel: + 1-888-600-6441

Visit MarketsandMarkets Blog@
Connect with us on LinkedIn @
Visit MarketsandMarkets Website:

SOURCE MarketsandMarkets