According to a new market research report published by Credence Research “3D Audio Market (Product Type – Speakers (Wired and Wireless), Headphones (Wired and Wireless), Microphone (Wired and Wireless); End-use – Personal and Commercial; Sales Channel – Offline Channels and Online Channels) – Growth, Future Prospects and Competitive Analysis, 2018 – 2026”, the global 3D audio market was valued at US$ 3.45 Bn in 2017 and will be growing at a CAGR of 17.2% during the forecast period from 2018 to 2026.
[Note: Our Free Complimentary Sample Report Accommodate a Brief Introduction To The Synopsis, TOC, List of Tables and Figures, Competitive Landscape and Geographic Segmentation, Innovation and Future Developments Based on Research Methodology are also Included]
3D audio refers to a group of sound effects that control the sound produced by stereo speakers, speaker arrays, surround sound speakers or headphones. This includes the virtual location of sound sources anywhere in three-dimensional space, including above, below or behind the listener. The aim of 3D audio is to make it possible for the listener to appreciate an audio experience that imitates real life.
One of the most important factors contributing to the growth of the 3D audio industry is the fact that user adoption of 3D audio has increased significantly in recent years. Increased consumer awareness of this new technology has further enabled the industry to flourish. In addition, increasing disposable incomes across developing countries, such as India, China and Brazil, among others, are another key factor leading to the global adoption of 3D audio products. There has been a dip in the price of the product with technological advances. This trend has also had a positive impact on market growth. The adoption of 3D audio has been at a high level in the gaming industry and it has been noted that game developers have updated their sound systems from 2D audio to 3D audio. Nonetheless, market growth may be influenced by the absence of any standard or standardized format. This aspect will impede its wide-scale penetration in the years to come.
In 2017, Asia Pacific was the largest market for 3D audio. The area experiencing success in the film industry is an important factor leading to the growth of the sector. In addition, increasing demand for portable 3D media devices, such as speakers and headphones, is expected to have a positive impact on market growth in Asia Pacific. In 2017, China was the largest market for 3D audio. In the coming years, India is expected to be an important market over view of the ongoing development of the country’s film industry. Accordingly, market growth in the country is expected to be substantial during the forecast period. These factors in combination are expected to drive the growth of the 3D audio market in the region.
Some of the major players operating in the market include Auro Technologies, Inc., 3D Sound Labs, dearVR, Comhear, Inc., Dolby Labs, Core Sound LLC, DTS, Inc. (Xperi Corporation), Hooke Audio, Sennheiser Electronic GmbH & Co., Dysonics, ISONO Sound, VisiSonics Corporation and Waves Audio Ltd.