A senior analyst from AMR highlighted that the Asia-Pacific audio CODEC market is expected to grow at the fastest CAGR during the forecast period.

Allied Market Research published a research report on the Audio CODEC Market. The findings of the report states that the global audio CODEC market generated US$11.44 billion in 2019 and is expected to reach US$14.12 billion by 2027, growing at a CAGR of 4.1% from 2020 to corresponds to 2027. The report offers valuable information on changing market dynamics, major segments, top investment pockets and competitive scenario for market players, investors, shareholders and new entrants.

The report provides detailed insights into drivers, restraints, and opportunities to assist market participants in developing multiple growth strategies. Significant increase in demand for energy-efficient audio systems, increasing adoption of smartphones and widespread application in various sectors such as entertainment, gaming, consumer electronics and automotive are expected to drive the growth of the global audio CODEC market. On the other hand, negative health and environmental impacts of audio codec devices are hampering the growth to some extent. However, the advent of IoT-enabled devices integrated with artificial intelligence is expected to create numerous opportunities for the growth of the market.

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“Asia-Pacific audio CODEC market is expected to experience the fastest growth during the forecast period owing to significant consumer electronics demand. In addition, the disposable income of the region’s population is increasing, which in turn drives demand for audio CODECs,” said Umang Vashishtha, Lead Analyst, Semiconductor and Electronics.

The report provides a detailed scenario of the impact of the Covid-19 pandemic on the Audio CODEC Market globally. The outbreak of COVID-19 has negatively impacted the growth of the global audio CODEC…