The Audio Codec Market is projected to grow from USD 5.9 billion in 2020 to USD 7.8 billion in 2025, at a CAGR of 5.5%. The growth can be attributed to the rising demand IoT enables devices and shift in consumer trend towards smart devices and electronics.

Software Audio Codec, by Component Type, is expected to grow at the highest CAGR during the forecast period

The demand toward software audio codec products is showing the fastest growth in the forecast period as the inclination of technologies is rising towards software as it is convenient, less expensive, easily fragmented for encoding and decoding.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=225395818

Others Application, is expected to grow at the largest market share during the forecast period

Others application include software platforms, broadcasting, audio production & recording, and IP telephony. As the companies are shifting towards software enabled and updated device for convenience this gives a boost to software platforms. Moreover, the entertainment channels such as radio, music, movies, TV shows require audio production and recording in order to provide best quality music to the user base, hence require audio codec products for various audio related applications.

Speak To Analyst @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=225395818

Italy, by Country, is expected to grow at the highest CAGR during the forecast period

One of the major reasons for Italy’s growth in the market is the presence huge R&D facilities, top class manufacturing companies which make quality products and advanced supply chain which caters globally. As Italy is hub for luxurious products and consumer products, it has helped the country grow in the forecast period.

Key Players

Key Players in the Audio Codec Market include Cirrus Logic (US), Qualcomm (US) and Realtek Semiconductor (Taiwan). Cirrus Logic is a well-known player for providing innovative and customized audio codec solutions and products in the Audio Market.

Browse For More Details - https://www.marketsandmarkets.com/Market-Reports/audio-codec-market-225395818.html

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
Visit Our Website: https://www.marketsandmarkets.com
Content Source: https://www.marketsandmarkets.com/PressReleases/audio-codec.asp