LATIN AMERICA AUDIO CODEC MARKET 2022-2028
MARKET OUTLOOK
Triton’s research report signifies that the audio codec market in Latin America is envisioned to register progress at a CAGR of 9.50% during the forecast period 2022-2028. Mexico, Brazil, and Rest of Latin America outline the market in the region.
Several international companies like Samsung and Fraunhofer are investing and expanding operations in Brazil. This has resulted in higher adoption of audio codecs. For instance, the Brazilian Digital Television Forum adopted MPEG-H audio as an additional audio system. This enables broadcasters to deliver high resolution sound alongside existing AAC audio. Further, Fraunhofer IIS announced that NXP Semiconductors adopted its MPEG audio SDK. Therefore, these developments hold the potential to widen the audio codec market scope in Brazil.
Growing streaming events primarily drive Argentina’s audio codec market. The audio codecs are mainly employed to play music, live stream events, and more. It changes signal formats to support multiple devices, including home theater systems, recorders, and DVD players. Texas Instruments and Cirrus Logic have emerged as major vendors in the country’s market. Besides, the National Institute of Rosario has developed a transparent, user-friendly graphic interface that works efficiently with audio codecs. Thus, as stated above, these factors contribute immensely to the audio codec market’s growth.
COMPETITIVE OUTLOOK
The prominent enterprises in the audio codec market consist of Analog Devices Inc, Qualcomm Inc, Texas Instruments Inc, Barix AG, Dolby Laboratories Inc, STMicroelectronics, and Ittiam Systems Pvt Ltd.
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