The global 3D audio market was valued at US$ 3,746.9 million in 2017 and is projected to reach US$ 14,812 million by 2026, exhibiting a CAGR of 16.5% over the forecast period, according to Global 3D Audio Market Report, by Component Type (Hardware (Loudspeakers, Headphones, Microphones/Mic, Sound Bars, and Others), Software, and Services), by End-use (Personal/In-house (Mobile Devices, Home Theater, and Gaming) and Commercial (Automobile, Cinema, Music, Gaming, VR Concerts, and Others)), and by Region (North America, Europe, Asia Pacific, Latin America, The Middle East, and Africa), published by Coherent Market Insights.
3D audio devices are significantly gaining traction in various industries such as gaming and cinema. The applications of 3D audio in gaming is an emerging trend, as game developers are trying to provide better audio and video effects for the users. The game developing companies are processing specialized neuro-auditory research and advanced digital sound processing (DSP) algorithms that could be integrated into a game’s sound system directly. Continuous development in 3D audio such as analog to digital shift in the cinema industry and 3D sound speakers for the application in automobile industry are also driving growth of the market globally.
Due to high demand for 3D audio, existing market players as well as the new entrants are investing high capital to offer upgraded 3D audio products and services to their customers. For instance, till 2017, Auro Technologies installed 600 AURO 11.1 3D audio systems for cinemas across the world and Dolby Atmos installed around 2,000 3D audio systems across the world. Moreover, the other companies in this market such as Sennheiser Electronic GmbH & Co. and Frauhaufer are increasing their innovation in the 3D audio products to gain the market share in this market.
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Key Trends and Analysis of Global 3D Audio Market:
Key Takeaways of the Market:
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