Audio Codec Market Size, Share & Trends Analysis Report By Function (With DSP, Without DSP), By Component Type (Hardware Codecs, Software Codecs), By Application (Automobile, Television Sets), By Region, And Segment Forecasts, 2024 - 2030

Audio Codec Market Size, Share & Trends Analysis Report By Function (With DSP, Without DSP), By Component Type (Hardware Codecs, Software Codecs), By Application (Automobile, Television Sets), By Region, And Segment Forecasts, 2024 - 2030

Audio Codec Market Size & Trends

The global audio codec market size was valued at USD 6.71 billion in 2023 and is projected to grow at a CAGR of 5.9% from 2024 to 2030. The integration of AI in audio codecs is becoming more prevalent, enabling smarter and more efficient audio processing. AI-powered codecs can optimize audio quality based on the content being played and the environment. This includes features such as adaptive noise cancellation, audio enhancement, and real-time translation. Such capabilities are increasingly sought after in consumer electronics, where seamless and high-quality audio experiences are a priority. As AI technology continues to advance, its incorporation into audio codecs is likely to become even more sophisticated and widespread.

The expanding market for smart home devices, such as smart speakers and home assistants, is driving the need for high-quality audio Codecs. These devices require Codecs that can handle voice recognition and command processing with high accuracy and clarity. High-performance audio Codecs ensure that smart home devices can provide clear and reliable voice interactions. As the smart home market continues to grow, the demand for advanced audio Codecs is expected to increase. This trend underscores the importance of integrating high-quality audio processing into connected home devices.

There's a growing demand for high-resolution audio (Hi-Res Audio), which offers better sound quality than standard audio formats. Audiophiles and general consumers alike are seeking out devices and services that provide superior audio fidelity. This trend is driving the adoption of advanced audio Codecs that can support higher bit rates and sample rates. These Codecs are crucial for delivering the detailed and nuanced sound that high-resolution audio formats require. As more streaming services and audio equipment manufacturers embrace Hi-Res Audio, the market for compatible codecs is set to expand.

Global Audio Codec Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global audio codec market report based on function, component type, application and region:

• Function Outlook (Revenue, USD Million, 2018 - 2030)
• With DSP
• Without DSP
• Component Type Outlook (Revenue, USD Million, 2018 - 2030)
• Hardware Codecs
• Software Codecs
• Application Outlook (Revenue, USD Million, 2018 - 2030)
• Automobile
• Television Sets
• Smartphones and tablets
• Desktop and laptops
• Headphone, Headsets and Wearable devices
• Music & Media Devices and Home Theatres
• Gaming consoles
• Others (AR/VR, Broadcasting Equipment, Smart Home Devices)
• Regional Outlook (Revenue, USD Million, 2018 - 2030)
• North America
• U.S.
• Canada
• Mexico
• Europe
• Germany
• UK
• France
• Asia Pacific
• China
• Japan
• India
• South Korea
• Australia
• Latin America
• Brazil
• Middle East and Africa (MEA)
• UAE
• KSA
• South Africa

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