consumers whether using headphones, earbuds or Bluetooth speakers. Thus, growth of
smartphone market will also lead to increasing demand for Audio Codecs.
In addition to this, Audio Codecs is extensively used in various applications such as television
systems for enhanced audio experience. Demand for televisions is increasing significantly and at
a faster pace. Manufacturers are focusing on offering advanced televisions with functionality
such as Wi-Fi enabled, internet connectivity, and also have cameras, which enables facial
recognition technology and recording options. This is expected to aid in demand for such
advanced products. Audio is one of the major components of television systems. Hence, as the
demand and supply for television system changes, it will also affect the Audio Codec market. For
instance, according to India Brand Equity Foundation, the television market in India is expected
to grow to US$ 11.78 Billion in 2018, from US$ 9.23 Billion in 2016, which accounts for an
increase of 12.97% in 2016–2018.
Audio Codec market: Regional Insight
The market for Audio Codec can be segmented into six regions namely North America, Europe,
Asia Pacific, Latin America, The Middle East, and Africa.
Asia Pacific held the dominant position in the market in 2017 and is expected to retain its
dominance throughout the forecast period. Asia Pacific has emerged as a major manufacturing
hub for the consumer electronics, which use audio codec. Some emerging economies such as
China, India, and Japan are few of the major mobile phone manufacturing countries in the region.
For instance, according to the India Brand Equity Foundation, India was world’s third-largest
market for smartphones in 2017. This is expected to aid in growth of the market in the region.
Furthermore, North America held the second-largest position in the market, in terms of revenue
share. The U.S. and Canada are major growth engines in the market in this region. High presence
of mobile companies and in the U.S. such as Apple, Google, and Microsoft is a major factor aiding
in growth of the market in this region. In addition to this, the increasing smart phone users in the
United States have also accelerated the market in this region. According to Coherent Market
Insights, in 2016, the smart phone users in the United States were 241.0 million and is projected
to reach 343.9 million by 2021. Audio Codecs being an integral part of a smart phone device, the
increase in demand for smart phones has led to rise in demand for Audio Codec.
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Audio Codec Market: Competitive Insight
Some of the major players operating in the global Audio Codec market are Cirrus Logic,
Inc., Qualcomm Inc., Realtek Semiconductor Corp., Analog Devices, Inc., Maxim Integrated
Products, Inc., Stmicroelectronics N.V., Texas Instruments Inc., DSP Group, Inc., Dolby
Laboratories, Inc., Technicolor SA