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Share this article PORTLAND, Ore., April 13, 2021 /PRNewswire/ Allied Market Research published a report, titled, Audio CODEC Market By Function (With DSP and Without DSP) and End Use (Computer, Phone, Tablet, Over-Ear Headphone, TWS, Home Entertainment, Commercial, Automotive, Portable, Smart Home, IoT, Wearable, and AR/VR): Global Opportunity Analysis and Industry Forecast, 2020–2027. According to the report, the global audio CODEC industry garnered $11.44 billion in 2019, and is estimated to reach $14.12 billion by 2027, manifesting a CAGR of 4.1% from 2020 to 2027. Prime determinants of growth Surge in penetration of smartphones, advent of IoT enabled devices, and increase in energy-efficient audio systems demand fuel the growth of the global audio CODEC market. However, omnipresence of audio SoC and fatal effects on health and environment restrain the market growth. On the other hand, increase in demand for on-board entertainment, development and rapid adoption of VR

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