Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Global 3D Audio Market - Insights
3D audio is often used in games or other interactive applications such as cinema and it helps to create a more realistic environment. The 3D audio technology was developed to mimic the real life audio through which the user can differentiate the distance of the sound coming from any direction. When compared to surround audio, 3D audio is a more complex and immersive audio system. It is used to create a more vivid projection of the surrounding environment for the listener.
Global 3D audio market is expected to witness significant growth during the forecast period (2018–2026). The market growth is attributed to continuous advancements in audio technology across various applications in different end-use industries such as cinema, gaming, and VR concerts. Some of the characteristics of 3D audio include volume & attenuation (to give the listener an idea of the distance), panning & direction (to give the listener an idea of direction), and reverberation & acoustics, an idea of the surrounding environment. The 3D audio system manufacturers are continuously trying to make advancements in their products such as 3D sound one module along with the motion tracker in order to give a better quality sound to its customers.
Figure 1. Global 3D Audio Market Share (%), by Region, 2017 & 2026
Source: Coherent Market Insights, 2017-18
Continuous advancements in audio technology is expected drive growth of the market
Advancements in audio technology such as shift from 2D audio to 3D audio is expected to aid in growth of the market. For instance, audio technology was in two dimension earlier i.e. direction above & below and front & rear equally; however, now 3-dimensional audio gives identical differences of distance (from what distance the sound is coming) and difference in direction such as the above/below/front/rear/left/right, which is a new technology for the users. This is being adopted globally for a real sound experience in different applications such as gaming, cinema, VR concerts, and automobile industry.
Two advancements in audio technology in terms of hardware include noise-cancellation and wireless connectivity in professional and consumer headphones and earphones. These technologies have evolved the way people listen to music or use audio devices to communicate.
Figure 2. Global 3D Audio Market Share (%), By Component Type, 2017 & 2026
Source: Coherent Market Insights, 2017-18
Continuous development in the music industry is expected to drive growth of the market
The music industry is continuously evolving with time and there is high availability of instruments and hardware according to the requirement of the user. Increasing demand for audio hardware devices such as headphones and loudspeakers for commercial and personal use is projected to drive the market growth during the forecast period.
Increasing application of 3D audio in gaming industry is driving the market growth
3D audio is largely used in the gaming industry. The gaming and audio software developers are continuously trying to modify the audio effect, which is required in a game, for a more realistic user experience. Half-life that was released on November 8, 1998 & created by Valve Corporation was one of the first games in the gaming industry that supported 4 channel 3D audio. Game developers are now trying to integrate augmented or virtual reality along with 3D audio in gaming to provide realistic experience for the users.
Some of the key players operating in the global 3D audio market include 3D Sound Labs, Auro Technologies Inc., Comhear Inc., Core Sound LLC (TeraMic), DearVR, Dolby Labs, DTS Inc. (Xperi Corporation), Dysonics, Fraunhofer, Hooke Audio, ISONO Sound, OSSIC, Sennheiser Electronic GmbH & Co., VisiSonics Corporation (Realspace 3D), and Waves Audio Ltd.
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