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The audio codec market was valued at USD 6.8 billion in 2020 and is projected to reach USD 7.8 billion by 2025; it is expected to register a CAGR of 5.5% from 2020 to 2025.
Some of the Factors such as penetration of internet users which are generating traffic, demand for telecommunication devices and products as there are restrictions globally amidst the pandemic and consumer trends inclined for IoT enabled smartphones and related devices.
Audio codec market for headset, hearables and wearable devices application to grow at highest CAGR during forecast period
The audio codec market for headset, hearables and wearable devices application is expected to grow at the highest CAGR during the forecast period considering the surge in the demand for wireless electronic products such as earplugs, smart watches, bluetooth speakers and others. Many automotive companies are diversifying their business portfolio in o