MIDDLE EAST AND AFRICA AUDIO CODEC MARKET 2022-2028

MIDDLE EAST AND AFRICA AUDIO CODEC MARKET 2022-2028

MARKET OUTLOOK

Triton Market Research’s report intimates that the audio codec market in the Middle East and Africa is predicted to advance in value at a compound annual growth rate of 9.45% during the forecast years 2022-2028. Turkey, the UAE, Saudi Arabia, South Africa, and Rest of Middle East & Africa shape the market in the considered region.

In the United Arab Emirates, smartphone penetration accounts for the majority of the share in the consumer electronics segment. Moreover, the demand is estimated to grow significantly over the next few years. This is mainly owing to the increasing use of the internet. There is a huge influx of younger consumers opting for smartphones and portable devices, increasing the adoption rate. As a result, several international companies are launching products in the country. For instance, the German company Sennheiser launched the new CX True Wireless earbuds, compatible with Bluetooth and supported by audio codecs. Thus, these factors drive the audio codecs market on a large scale.

Similarly, Saudi Arabia has witnessed significant growth in its electronic devices segment. In this regard, several electronics manufacturers like LG and Samsung have set up operations on a large scale. This has led to the production and launch of new electronics. For instance, LG released the latest models of its wireless earbuds range, supporting SBS and AAC audio codecs. Such developments are anticipated to boost the audio codec market on a progressive path.

COMPETITIVE OUTLOOK

The key companies thriving in the audio codec market are Dialog Semiconductor Plc, Realtek Semiconductor Corp, Texas Instruments Inc, Analog Devices, Dolby Laboratories Inc, and Cirrus Logic Inc.