3D audio Market to Grow at a CAGR of 15.1% to reach US$ 15,000.34 million from 2021 to 2028

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Electronics and Semiconductor 3D audio Market
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3D audio Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Component (Hardware, Software, Services); End Use Industries (Consumer, Automotive, Media and Entertainment, Gaming, Commercial), and Geography

Publication Month: Jun 2021 | Report Code: TIPEL00002494 | No. of Pages: 157 | Category: Electronics and Semiconductor | Status: Published

The 3D audio market is expected to grow from US$ 5,611.50 million in 2021 to US$ 15,000.34 million by 2028; it is estimated to grow at a CAGR of 15.1% from 2021 to 2028.

Developing regions such as Asia Pacific, the Middle East and Africa, and South America are characterized by positive economic outlook, increasing middle class population, and rising disposable incomes. These factors are driving the sales of audio systems in these regions. Developing economies have been witnessing steady growth in the post-recession era, which has reflected in rise in disposable income. In the western countries, where consumers have high disposable incomes, high value and volume of audio equipment sales is driven by the preference for advanced features and technologies integrated in the devices. The growing adoption of advanced technologies such as head-related transfer function (HRTF) across media & entertainment sector. The 3D audio market players across the world are focusing on integrating the HRTF technology for providing enhanced user experience. The 3D audio experience is much more immersive than 2D audio experience when watching movies on smartphones with earphones. In cinema halls, the integration of HRTF simulates the 3D audio when mirrored sounds hit the ears from different directions by using multiple speakers present on all sides of the hall. The HRTF are being integrated across a wide range of sound devices, including headphones, to generate different surround sound effect.  

Impact of COVID-19 Pandemic on 3D audio Market

According to the latest report from the World Health Organization (WHO), the US, Spain, India, Italy, France, Germany, the UK, Russia, Turkey, Brazil, Iran, and China are among the worst-affected countries due to the COVID-19 pandemic. In 2020, the world economy suffered significant consequences of the pandemic due to disruptions in the electronics & semiconductors, and manufacturing industries, among others. However, in the last quarter of 2020, companies from many industries began their operations virtually and employees started working from home, which has bolstered the demand of headphones and ear buds. In addition, with the rising demand of entertainment at home due to shutdown of cinema halls and theater has fostered the demand for 3D audio systems across the region. However, partial restriction on cargo and transport at the beginning of the pandemic resulted in disruptions in the supply chain of raw materials. The sudden rise in demand for 3D playlist and AR/VR in gaming industry as fostered the growth of the 3D audio market, and the market expected to continue its growth during the forecast period.

Lucrative Regions for 3D audio Market

Lucrative Regions for 3D audio Market

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Market Insight – 3D audio Market

Potential of 3D Audio to be Next Big Podcast Emerging as Significant Trend in 3D audio Market

The market players are constantly focusing on spending hugely on enhancing podcasting features by creating valuable content libraries. The growing trend of integrating 3D audio technology with the music and episodic series available on online streaming platforms. For instance, iHeart Media announced its investment in binaural audio/3D audio that efficiently spots listeners in the recording room and makes them feel like the performance is happening around them. The 3D audio can be felt in real-time with the help of 3D microphones or AirPods. Similarly, in 2020, Spotify signed a deal with Warner Bros. to produce and distribute an original slate of scripted narrative podcasts, which would be exclusively licensed to Spotify for a specific period. Therefore, such strategies are boosting the trend of 3D audio podcasting.

Component Segment Insights

The 3D audio market, by amplifier type, is segmented into mono channel, 2-channel, 4-channel, and 6-channel. Electronics vendors commonly use high-efficiency, filter-less, analog-input 3D audios to manage the power requirements of portable audio speakers engineered in cell phones, tablet computers, and personal navigation devices. These amplifiers allow direct connection to a battery, thus minimizing losses and reducing component count.

3D audio Market, by Type (% share)

3D audio Market, by Type (% share)

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Product Segment Insights

The 3D Audio market, by component, is segmented into hardware, software, and services. The hardware segment comprises loudspeakers, headphones, microphones, sound bars, Bluetooth speakers, and other hardware sound systems. 3D audio software is widely adopted by the media and entertainment sector. Companies such as Dolby, Atoms, and Aura Technologies are offering 3D audio software for the movie production houses for audiovisual (AV) applications. 3D audio service providers extend technical support to sound designers, engineers, and artists.

End Use Industries Segment Insights

The global 3D Audio market, based on end use industries, is segmented into consumer , automotive, media and entertainment, gaming , and commercial. The media and entertainment segment led the 3D Audio market, by end use industries in 2020. The advent of cloud computing solutions in the media and entertainment field, and escalating adoption of HRTF technology is also expected to help boost the market performance during the forecast period.

Strategic Insights

Report Coverage - 3D audio Market
Report CoverageDetails
Market Size Value inUS$ 5,611.50 Million in 2021
Market Size Value byUS$ 15,000.34 Million by 2028
Growth rateCAGR of 15.1% from 2021-2028
Forecast Period2021-2028
Base Year2021
No. of Pages157
No. of Tables88
No. of Charts & Figures77
Historical data availableYes
Segments coveredComponent ; End Use Industries , and Geography
Regional scopeNorth America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country scopeUS, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Report coverageRevenue forecast, company ranking, competitive landscape, growth factors, and trends
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The players operating in the 3D audio market focus on strategies such as mergers, acquisitions, and market initiatives to maintain their positions in the market. A few of the significant market developments by key players are listed below:

  • In January 2021, Sound Particles, the software company that has been changing the paradigm of 3D audio software, has introduced a different approach to panning with the release of a new plugin – the Energy Panner.

  • In January 2021, THX and VisiSonics announced a partnership to provide cutting-edge spatial audio tools and technology for game developers.

The 3D audio market has been segmented as follows:

By Component

  • Hardware
  • Software
  • Services

By End Use Industries

  • Consumer,
  • Automotive
  • Media and Entertainment
  • Gaming
  • Commercial

By Geography

  • North America

    • US
    • Canada
    • Mexico

  • Europe

    • France
    • Germany
    • Italy
    • UK
    • Russia
    • Rest of Europe

  • Asia Pacific (APAC)

    • China
    • India
    • South Korea
    • Japan
    • Australia
    • Rest of APAC

  • Middle East and Africa (MEA)

    • South Africa
    • Saudi Arabia
    • UAE
    • Rest of MEA

  • South America (SAM)

    • Brazil
    • Argentina
    • Rest of SAM

3D Audio Market – Companies Profiles

  • Barco
  • Dear Reality
  • Dolby Laboratories, Inc
  • Auro Technologies
  • Sound Particles S.A.
  • XPERI HOLDING CORPORATION
  • Waves Audio Ltd.
  • Sennheiser electronic GmbH & Co. KG
  • Fraunhofer
  • Mimi Hearing Technologies GmbH.
  • VisiSonics

Frequently Asked Questions

Which factor is driving the 3D Audio market?
With continuous developments in the gaming industry, people of diverse age groups are progressively adopting gaming culture in their daily routine. Although many people play video games to in leisure, an increasing percentage of population has started seeing it as a lucrative career option. The percentages of internet users have reached 73%, 76%, 84%, 83%, and 86% in North America, Europe, APAC, MEA, and SAM, respectively. The internet gaming users among different age group such as 23–26 (millennial), 37–55 (Gen X), and 16–22 (Gen Z) is estimated to be ~48%, ~25%, and ~23%, respectively. Additionally, the rising adoption of 3D audio systems in the gaming industry is used to create realistic atmosphere. Due to this the users are able to measure and detect the distance from where sound is generated. Furthermore, ongoing advancements in augmented reality (AR) and virtual reality (VR) applications used across gaming purpose is propelling the adoption of 3D audio systems.
Which end user type led the 3D Audio market?
The media and entertainment sector is contributing significantly to the global 3D audio market growth. In addition, the advent of cloud computing solutions in the media and entertainment field, and escalating adoption of HRTF technology is also expected to help boost the market performance during the forecast period.
What factors are providing opportunities for 3D Audio market?
The scope of music streaming platforms and on-demand streaming is constantly flourishing with the introduction of digital and cloud systems. Continuous technological developments taking place across the world are enabling musical content creators to cater to their subscribers in a better manner. The subscription model is creating a significant impact on the development of 3D audio song list as well as music streaming platforms. The music streaming service providers are offering 3D audio music to attract larger base of customers as well as to gain a larger number of subscriptions. India is a hotbed for content providers, as the platforms such as Saawan.com, Gaana.com, and Amazon prime are strengthened their presence in the country in the past few years, which allow content creators to exclusively offer a list of 3D songs.s

The List of Companies - 3D Audio Market

  1. Barco
  2. Dear Reality
  3. Dolby Laboratories, Inc
  4. Auro Technologies
  5. Sound Particles S.A.
  6. Xperi Holding Corporation
  7. Waves Audio Ltd.
  8. Sennheiser electronic GmbH & Co. KG
  9. Fraunhofer
  10. VisiSonics
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