3D Audio Market Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Component (Hardware, Software, and Services) and End Use Industries (Consumer Electronics, Automotive, Media and Enter

3D Audio Market Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Component (Hardware, Software, and Services) and End Use Industries (Consumer Electronics, Automotive, Media and Entertainment, Gaming, and Others)

The 3D audio market was valued at US$ 6.28 billion in 2022 and is expected to reach US$ 19.07 billion by 2030; it is estimated to record a CAGR of 14.9% from 2022 to 2030.

With continuous developments in the gaming industry, people of diverse age groups are progressively adopting gaming culture in their daily routines. Although many people play video games in leisure, an increasing percentage of the population has started seeing it as a lucrative career option. Gamers who create and share content, such as gameplay videos and streams, are more likely to invest in 3D audio equipment to enhance the quality of their content, indirectly promoting the 3D audio technology. As the number of internet users is increasing, there is a rise in streaming activities. For instance, according to internet world stats, in 2023, the percentages of internet users accounted for 93.4%, 89.2%, 57.9%, 77.1%, and 80.5% in North America, Europe, APAC, MEA, and SAM, respectively.

In addition, 3D audio systems in the gaming industry are utilized to create a realistic experience for consumers. With this, the users are able to determine the distance from where sound is generated. In the gaming industry, the 3D audio technology is integrated with augmented reality (AR) and virtual reality (VR) applications, which are propelling the adoption of 3D audio systems. As gaming expands across other platforms, including consoles, PCs, and mobile devices, the demand for consistent and high-quality 3D audio experiences also increases. Therefore, the proliferation of the gaming industry drives the 3D audio market growth.

The US, Canada, and Mexico are the major countries in North America. The demand for 3D audio products is substantially higher among consumers in the US due to the greater tendency to purchase premium-quality products offering rich sound experience. The visibility of the US manufactured products across other countries is significant; hence, various local and international brands are continuously offering new products. 3D audio systems are gaining popularity among consumers due to their ability to add verticality to surround sound, thereby offering enhanced audio experiences, booting the growth of the 3D audio market. Further, the emergence of 3D videos and virtual reality (VR) gaming devices bolsters the market growth by integrating the technology into audio systems. Leading market players such as Microsoft and Sony are offering 3D audio features in their gaming consoles. Microsoft has started offering 3D spatial audio features in its latest gaming consoles. In addition, PS5, Xbox Series X, and Xbox Series S feature 3D audio systems. Thus, increasing demand for 3D audio systems and services from the gaming industry in North America is one of the prominent factors boosting the growth of the 3D audio market.

Further, the presence of many 3D audio solution providers is another factor bolstering the growth of the North America 3D audio market. Being a technologically advanced country, manufacturers in the US benefit from receiving early access to innovative products. As a result, the demand for 3D headphones is high among the end users, and the same is expected to continue in the coming years, thereby catalyzing the growth of the 3D audio market in the US. Moreover, the audio electronics manufacturing industries in Canada and Mexico are growing and offering advanced solutions for consumers' entertainment, which is boosting the demand for 3D audio solutions in these countries, fueling the 3D audio market growth in the region.

Barco NV; Dolby Laboratories Inc; Auro Technologies; Sound Particles S.A.; XPERI HOLDING CORPORATION; Waves Audio Ltd; Sennheiser electronic GmbH & Co. KG; Fraunhofer; VisiSonics; and THX Ltd are among the key 3D audio market players profiled in the report. Several other major 3D audio market players were studied and analyzed during this market research study to get a holistic view of the market and its ecosystem. The 3D audio market report provides detailed market insights, which helps the key players strategize their growth.

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