The audio codec is computer-based application software, which contains a system of implemented algorithms for coding and decoding audio streams. It enables the user to compress and decompress digital audio data streams from live stream media or an already existing file. Thus, it reduces the size of an audio file without compromising on the sound quality. Audio codecs aid in reducing storage space, as well as the requirements of bandwidth for audio signal transmission. An extensive range of audio codecs is available in the market, which includes AAC, AIFF, MP3, WMA, Opus, WAV, etc.
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The growing demand for mobiles, tablets, laptops, and tablets by the youth is contributing to the development of the global audio codec market. Additionally, the high usage of headphones, headsets, and wearable devices is fueling the further advancement of this market. The rise in disposable incomes and lifestyle changes are increasing the inclination of consumers towards a luxurious lifestyle, which is fueling the demand for voice quality, advanced or upgraded versions of music, quality communication, and good storage space.
Some of the key insights about the global audio codec market are given below:
- The global audio codec market has five key regions viz. Europe, Latin America, North America, Middle East and Africa, and Asia Pacific that provide us with a better understanding of its working dynamics. Currently, the market is expected to be dominated by the Asia Pacific region due to the presence of large manufacturing companies like Xiomi, Lenovo, Oppo, etc. in the region. Additionally, the increasing inclination of youth towards wireless headphones, smartwatches, wearable devices, headsets, etc. is significantly contributing to the further expansion of the market.
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- The leading players in the global market for audio codec are expected to witness substantial advancement owing to the focus of leading manufacturers to provide their consumers with innovations in their products and services in the coming years of the forecast period. Some of the leading brands in the global market include names such as St microelectronics N.V., Cirrus Logic Incorporation, Xiph Organisations, Texas Instruments Incorporation, Technicolor SA, Dolby Laboratories Incorporation, Qualcomm Incorporation, Fraunhofer IISCompany, Maxim Integrated Products, Analog Devices, and Realtek Semiconductor Corporation among others.
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