Smartphone Audio Codecs Market To Grow at US$ 8.1 Billion by 2027 | CAGR of 4.4%

SHERIDAN, WYOMING, UNITED STATES, November 22, 2022 /EINPresswire.com/ -- As per the latest report by IMARC Group, titled “Smartphone Audio Codecs Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global smartphone audio codecs market size reached US$ 6.2 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 8.1 Billion by 2027, exhibiting a growth rate (CAGR) of 4.4% during 2022-2027.

A smartphone audio codec assists in the compression and decompression of a digital audio data stream. It can be both an electronic device that features analog-to-digital converter (ADC) and digital-to-analog converter (DAC) used in sound cards to support audio in and audio out functions, or computer-based software that compresses or decompresses digital audio data as per the media audio coding format. A smartphone audio codec minimizes the number of bits of an audio file while retaining its accuracy and quality. This helps to reduce the need for storage space and bandwidth for transmission.

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Global Smartphone Audio Codecs Market Trends:

The market is currently experiencing moderate growth on account of the growing popularity of music streaming services across the globe. Apart from this, boosting sales of smartphones and the rising mobile data traffic represents another factor influencing the demand for smartphone audio codecs positively. Furthermore, the industry recently witnessed the launch of aptX technology that helps reduce the size of an audio file before transmission without affecting its overall sound quality. Moreover, with the increasing adoption of Bluetooth earphones and headphones, leading key players are investing in research and development (R&D) projects to offer innovative and advanced features in their products, such as noise cancellation, 3D sound processing, parametric equalizers and dynamic range control.

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Competitive Landscape with Key Players:

• ams AG
• Analog Devices, Inc
• Broadcom Inc
• Cirrus Logic Inc
• CML Microcircuits (UK) Ltd
• DescriptionDialog Semiconductor PLC
• Integrated Device Technology, Inc
• Maxim Integrated Products, Inc
• NXP Semiconductors N.V
• STMicroelectronics International N.V
• Texas Instruments Incorporated

Breakup by Component:

• Hardware
o Mono Codecs
o Stereo Codecs
o Multi-channel Codecs
• Software
o Non-compression
o Lossy Compression
o Lossless Compression

Breakup by Converter Type:

• Analog to Digital Converter
• Digital to Analog Converter

Breakup by Application Type:

• IOS
• Android

Breakup by Region:

• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key Highlights of the Report:

• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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Elena Anderson
IMARC Services Private Limited
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