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Audio Codec Market Trends

Report ID: GMI8987
Published Date: Apr 2024
Report Format: PDF

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Audio Codec Market Trends

The increasing demand for high-resolution audio formats, such as Free Lossless Audio Codec (FLAC) and Direct Stream Digital (DSD) stems from audiophiles' pursuit of uncompromised sound quality. These formats offer higher fidelity and detail compared to standard audio formats, preserving the nuances of original recordings. Audiophiles seek the immersive experience and authenticity provided by high-resolution audio, boosting the adoption of such formats in music production, playback systems, and digital streaming services.

Cloud-based audio processing solutions offer scalability by leveraging the vast resources of cloud infrastructure, allowing seamless expansion to accommodate fluctuating demand. They provide flexibility through remote accessibility and easy integration with existing systems, enabling efficient deployment across diverse applications such as streaming media and telecommunication. Moreover, these solutions offer cost-effectiveness by eliminating the need for expensive hardware investments and maintenance while reducing operational overheads associated with in-house processing infrastructure.

Authors: Suraj Gujar, Deeksha Vishwakarma

Frequently Asked Questions (FAQ) :

The market size of audio codec crossed USD 6.5 billion in 2023 and is set to grow at 5.5% CAGR between 2024 and 2032, led by advancements in audio compression and processing technologies.

The software codecs component segment is poised to witness 8% CAGR during 2024-2032, as they offer unparalleled adaptability, swiftly adjusting to changing industry standards and user needs.

Asia Pacific audio codec industry held a revenue share of 35% in 2023 and is set to grow rapidly by 2032, due to rapid urbanization and increasing disposable income.

Analog Devices, Knowles Corporation, Qualcomm, Realtek Semiconductor, Sony Semiconductor Solutions Corporation, STMicroelectronics, Texas Instruments Incorporated among others.