3D audio market
Transparency Market Research delivers key insights on the global 3D audio market. In terms of revenue, the global 3D audio market is estimated to expand at a CAGR of 15.5% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecasts in its report on the global 3D audio market.
3D Audio companies are expanding their product lines to cater to the increasing demand for 3D audio products. Moreover, strong product innovation among 3D audio companies with newer features in 3D audios is expected to boost the market during the forecast period. Furthermore, companies are adopting latest technologies to provide extra benefits and more comfort to clients, and to boost their own efficiencies. This is expected to propel the global 3D audio market during the forecast period.
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3D Audio Market: Key Segments
In terms of component, the software segment is expected to dominate the 3D audio market during the forecast period. The hardware segment is expected to expand at a rapid pace during the forecast period. The demand for 3D audio is increasing among consumers due to increased adoption of noise-cancellation technologies by companies. For instance, in 2018, SHIVR launched 3D wireless headphones based on noise cancellation technology. Such huge applications of innovative technologies are driving the global 3D audio market.
In terms of end-use, the commercial segment is anticipated to hold a major share and maintain its share during the forecast period. Future cockpit designs would introduce new human-machine interface supporting 3D audio technology. New cockpit designs are likely to feature pilot assistance and information systems. 3D audio enabled cockpits aim to decrease the visual workload and enhance the human visual channel, which increases the information flow and lowers stress of the flight crew. Such factors are expected to provide significant opportunities for the market.
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3D Audio Market: Prominent Regions
Based on region, the global 3D audio market can be categorized into North America, Europe, Asia Pacific, MEA, and South America. Asia Pacific accounted for a dominant share of the global 3D audio market in 2020. It is expected to maintain its dominance during the forecast period. Rise in adoption of advanced technologies such as head-related transfer function (HRTF) across the media & entertainment sector is also driving the global 3D audio market.
The 3D audio market in North America is expected to expand at a prominent CAGR in the near future. Key players operating in the 3D audio market in the region are adopting new technologies to provide quality products to their customers. Increasing promotional activities are also expected to have a positive impact on the market in the region.
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3D Audio Market: Key Players
Key players operating in the global 3D audio market are Sennheiser Electronic GmbH & Co. KG , Dolby Laboratories, Inc. , DTS, Inc. (Xperi Corporation) , Beken Corporation , CEVA, Inc. , Waves Audio Ltd , Hooke Audio , Comhear Inc. and VisiSonics Corporation Ltd.
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