Global Audio Codec Market, By Component Type (Hardware and Software), By Application (Automobile, Television Sets, Smartphones and Tablets, Desktop and Laptops, Headphone, Head Sets and Wearable Devices, Music & Media Devices and Home Theatres, Gaming Consoles, and Others), by Geography (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2018-2026

  • To Be Published : Jul 2019 |
  • Format : CMI Insight PPT Format CMI Insight PDF Format

Audio Codec is a device or a computer program that encodes or decodes an audio signal. A software-based Audio Codec implements an algorithm, which is designed to compress and decompress digital data streams. The purpose of this operation is minimizing the number of bits, of the given audio file, while retaining its accuracy and quality and helps in reducing the demand for storage space and bandwidth for transmission. Audio Codec ICs are used in portable media devices or consumer applications such as mobile phones, tablets, automotive, home theatre, PCs, and gaming systems.

Increasing number of smartphones is one of the major driving factors for growth of Audio Codec market

Recent past has witnessed a substantial growth in the smartphone market and is expected to exhibit this high growth in the near future as well. According Consumers International Organization, the number of smartphone users in the world reached to 2.1 Billion in 2016 and is expected to be pegged at 2.9 Billion by 2019 end. Audio Codecs are one of the primary elements used in the manufacturing of mobiles. Audio Codecs affects listening experience of the consumers whether using headphones, earbuds or Bluetooth speakers. Thus, growth of smartphone market will also lead to increasing demand for Audio Codecs.

In addition to this, Audio Codecs is extensively used in various applications such as television systems for enhanced audio experience. Demand for televisions is increasing significantly and at a faster pace. Manufacturers are focusing on offering advanced televisions with functionality such as Wi-Fi enabled, internet connectivity, and also have cameras, which enables facial recognition technology and recording options. This is expected to aid in demand for such advanced products. Audio is one of the major components of television systems. Hence, as the demand and supply for television system changes, it will also affect the Audio Codec market. For instance, according to India Brand Equity Foundation, the television market in India is expected to grow to US$ 11.78 Billion in 2018, from US$ 9.23 Billion in 2016, which accounts for an increase of 12.97% in 2016–2018.

Audio Codec market: Regional Insight

The market for Audio Codec can be segmented into six regions namely North America, Europe, Asia Pacific, Latin America, The Middle East, and Africa.

Asia Pacific held the dominant position in the market in 2017 and is expected to retain its dominance throughout the forecast period. Asia Pacific has emerged as a major manufacturing hub for the consumer electronics, which use audio codec. Some emerging economies such as China, India, and Japan are few of the major mobile phone manufacturing countries in the region. For instance, according to the India Brand Equity Foundation, India was world’s third-largest market for smartphones in 2017. This is expected to aid in growth of the market in the region.

Furthermore, North America held the second-largest position in the market, in terms of revenue share. The U.S. and Canada are major growth engines in the market in this region. High presence of mobile companies and in the U.S. such as Apple, Google, and Microsoft is a major factor aiding in growth of the market in this region. In addition to this, the increasing smart phone users in the United States have also accelerated the market in this region. According to Coherent Market Insights, in 2016, the smart phone users in the United States were 241.0 million and is projected to reach 343.9 million by 2021. Audio Codecs being an integral part of a smart phone device, the increase in demand for smart phones has led to rise in demand for Audio Codec.

Audio Codec Market: Competitive Insight

Some of the major players operating in the global Audio Codec market are Cirrus Logic, Inc., Qualcomm Inc., Realtek Semiconductor Corp., Analog Devices, Inc., Maxim Integrated Products, Inc., Stmicroelectronics N.V., Texas Instruments Inc., DSP Group, Inc., Dolby Laboratories, Inc., Technicolor SA

Audio Codec Market: Taxonomy

By Component Type:

  • Hardware Based Audio Codec
    • Mono Codec
    • Stereo Codec
    • Multi-Channel Codec
  • Software Based Audio Codec
    • Non-Compression
    • Lossy Compression
    • Lossless Compression

By Application:

  • Automobile
    • Television Sets
    • Smartphones and tablets
    • Desktop and laptops
    • Headphone, Head Sets and Wearable devices
    • Music & Media Devices and Home Theatres
    • Gaming consoles
    • Others

By Region:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • The Middle East
  • Africa

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

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Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.
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Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization:

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users

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