Report Code: A10349 | Pages: 220 | Feb 2021 | 4286 Views | ||
Author(s) : Ruchal H , Vineet K | Tables: 106 | Charts: 88 |
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Audio Codec Market
Request Now !The global audio CODEC market size was valued at $11.44 billion in 2019, and is projected to reach $14.12 billion by 2027, registering a CAGR of 4.1% from 2020 to 2027. Audio CODEC (coder/decoder) is a type of audio IC (integrated circuit) that encodes analog audio to digital signals and decodes digital signal back into analog. These are audio data convertors with both an analog-to-digital converter (ADC) and a digital-to-analog converter (DAC). In addition, being data convertors, CODEC are used for encoding, decoding, compressing, and decompressing audio as well.
Global audio CODEC market witness significant decline in demand owing to disruption in supply chain of phones during the pandemic.
Audio CODECs transfer digital data using buses, which may include linear pulse-code modulation (linear PCM), inter-IC sound (I2S), AC-Link, inter-integrated circuit (I2C), and serial peripheral interface (SPI). Audio CODEC finds a wide range of applications in sectors such as entertainment, gaming, consumer electronics, and automotive.
The audio CODEC industry is expected to witness growth during the forecast period, owing to rise in demand for energy efficient audio system. In addition, increase in adoption of smartphones also propels the market growth. Moreover, emergence of IoT-enabled devices integrated with artificial intelligence is estimated to revolutionize the market. Hence, owing to the aforementioned factors, the audio CODEC market share is expected to witness a steep growth in the near future.
Surge in disposable income and number of product launches also propel the audio CODEC market growth. However, emergence of audio SoC (system on a chip) and growth in awareness regarding adverse effects of audio codec devices on health and environment hinder the audio CODEC market growth. Furthermore, rise in demand for on-board entertainment, rapid development & adoption of virtual reality (VR) technology, and growth in demand for gaming consoles globally provides lucrative opportunities for the market.
The emergence of COVID-19 has declined growth rate of the audio CODEC market in 2020, and the market is estimated to witness slow growth till the end of 2021. Implementation of partial or complete lockdowns across various countries globally is the prime reason for this decline in growth rate. However, companies are committed to serve its customers by abiding rules and regulations laid by governments in their respective regions.
The global audio CODEC market is segmented on the basis of function, end use, and region. On the basis of function, it is fragmented into with DSP and without DSP. The without DSP segment dominated the market, in terms of revenue in 2019, and is expected to follow the same trend during the forecast period. On the basis of end use, the market is segregated into computer, phone, tablet, over-ear headphone, TWS, home entertainment, commercial, automotive, portable, smart home, IoT, wearable, and AR/VR. The phones segment accounted for the highest market share in 2019, and the IoT segment is expected to grow at a high CAGR from 2019 to 2027.
Region wise, the global audio CODEC market is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, and rest of Europe), Asia-Pacific (China, India, Japan, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa). Asia-Pacific accounted for the highest share, owing to considerable demand for consumer electronics from developing countries and substantial technological advancements. North America was the second largest contributor, in terms of revenue, and is expected to witness significant growth during the forecast period, owing to significant investments from major market players in research and development of audio devices.
There is a significant rise number of product launches for audio CODECs globally. With technological advancements in electronic devices, manufacturers are promoting development of audio CODECs to enhance overall experience of devices. For instance, a Japanese manufacturer, Asahi Kasei Microdevices (AKM) introduced AKM AK4336ECB ultra low power audio codec, specifically designed for TWS development. It supports active noise cancellations to complement complete portfolio of audio systems and sensors of TWS.
High demand for smartphones, increase in per capita income of population, surge in demand for consumer electronics, and emergence of IoT-enabled devices are the major factors that propel the market growth. However, emergence of audio SoC is expected to hinder the market growth. Conversely, rise in demand for automotive infotainment, growth in investments in the gaming industry, and implementation of virtual reality across various industries is projected to offer remunerative opportunities for the market.
Competitive analysis and profiles of the major audio CODEC market players such as Analog Devices, Cirrus Logic, CML Microelectronics, Dialog Semiconductor, DSP Group, Maxim Integrated, Realtek Semiconductor, ROHM CO. LTD., STMicroelectronics, and Texas Instruments are provided in this report. These key players have adopted various strategies, such as product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations, to increase their market penetration and strengthen their foothold in the industry.
Key Benefits For Stakeholders
Audio CODEC Market Report Highlights
Aspects | Details |
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By Function |
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By End Use |
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By Region |
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Key Market Players | Cirrus Logic, Analog devices, Texas Instruments, Dialog Semiconductor, STmicroelectronics, Microelectronics CML, DSP Group, Barix, Realtek Semiconductor, ROHM co. LTd |
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Audio offers a great feedback to user of any embedded system. With the use of audio CODECs, audio engineers can add an extensive range of features in an embedded system, effectively and inexpensively. Many devices available in the market demand for high fidelity audio, which helps to understand the state of a system. Presently, majority of CODECs available are high integrated and provide a whole range of additional functions. For instance, outputs for headphones, normal or special speakers, and digital volume control are integrated in most cases.
Moreover, audio codecs reduce processing burden and power consumption of an application processor, making devices energy efficient. Audio CODECs are undergoing various technological advancements with integration of artificial intelligence and machine learning in various devices. It has opened up new opportunities for the market growth such as robotics and industry automation. Consequently, audio engineers can maximize output and performance of small speakers and enhance overall experience of gaming and video streaming for mobile devices.
Various leading manufacturers such as Analog Devices, Cirrus Logic, CML Microelectronics, Dialog Semiconductor, DSP Group, Maxim Integrated, Realtek Semiconductor, ROHM CO., LTD., STMicroelectronics, and Texas Instruments occupy a prominent revenue share in the audio CODEC market.
A. The Audio CODEC Market is estimated to grow at a CAGR of 4.1% from 2020 to 2027.
A. The Audio CODEC Market is projected to reach $14.12 billion by 2027.
A. To get the latest version of sample report
A. High demand for smartphones, increase in per capita income of population, and surge in demand for consumer electronics etc. boost the Audio CODEC market growth.
A. The key players profiled in the report include Analog Devices, Cirrus Logic, CML Microelectronics, Dialog Semiconductor, DSP Group, and many more.
A. On the basis of top growing big corporations, we select top 10 players.
A. The Audio CODEC Market is segmented on the basis of function, end use, and region.
A. The key growth strategies of Audio CODEC market players include product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations.
A. With DSP segment would grow at a highest CAGR of 4.9% during the forecast period.
A. Phone segment will secure the leading position during 2020 - 2027.
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