DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Audio Codec Market by Component, Channel Type, Compression Type, Application, & Geography - Global Forecast to 2022" report to their offering.
The audio codec market was valued at USD 5.49 billion in 2015 and is expected to reach USD 7.44 billion by 2022, at a CAGR of 4.3% between 2016 and 2022.
This growth can be attributed to the huge demand for mobile phones and tablets. The rising middle class population and improved disposable income and availability of mobile phones and tablets at low cost are the driving factors for the growth of mobile phones and tablets.
The audio codec market for the headphone, headset, and wearable device application is expected to grow at the highest rate between 2016 and 2022. This is mainly because of the growing trend of the usage of wearable devices in the day to day life because of the changing consumer need with the advancement of connected life with the development of IoT concept.
APAC is expected to be the fastest-growing region of the audio codec market, between 2016 and 2022. The primary reason behind this trend is the growing Chinese, South Korean, and Indian consumer electronic market. This market has evolved into the largest producer of smartphones, laptops, TVs, and various other applications and consequently the largest consumer of audio codec hardware IC enabled with audio codec software across the globe and is expected to continue the same trend throughout the forecast period. APAC also accounts for the largest share in 2016 of the total audio codec market.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Audio Codec Market, By Component
8 Audio Codec Market, By Application
9 Audio Codec Market, By Geography
10 Competitive Landscape
11 Company Profiles
- Analog Devices, Inc.
- Cirrus Logic, Inc.
- Dolby Laboratories, Inc.
- DSP Group, Inc.
- Fraunhofer IIS
- Maxim Integrated Products, Inc.
- Qualcomm Inc.
- Realtek Semiconductor Corp.
- Stmicroelectronics N.V.
- Technicolor SA
- Texas Instruments Inc.
For more information visit http://www.researchandmarkets.com/research/qk27kp/audio_codec