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Surging Demand for 3D Audio Podcast to Provide Growth Opportunities for 3D Audio Market during 2021–2028

NEW YORK, UNITED STATES, February 2, 2022 /EINPresswire.com/ -- According to our latest market study on “3D Audio Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type, Product, and Industry Vertical,” the 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.

Strategic Insights

Report Coverage Details

Market Size Value in US$ 5,611.50 Million in 2021
Market Size Value by US$ 15,000.34 Million by 2028
Growth rate CAGR of 15.1% from 2021-2028
Forecast Period 2021-2028
Base Year 2021
No. of Pages 157
No. Tables 88
No. of Charts & Figures 77
Historical data available Yes
Segments covered Component; End-Use Industries, and Geography
Regional scope North America; Europe; Asia Pacific; Latin America; MEA
Country scope US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends

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3D audio sound is an acoustic system used to provide sound in 3-dimensional space to the users. The 3D audio effect is a combination of different sound effects produced by 3D speaker arrays, stereo speakers, surround-sound speakers, and headphones. The 3D audio is largely influenced by several economic and non-economic factors prevailing across the world. These systems are installed in a wide range of applications, including mobile devices, gaming consoles, home theater systems, AR/VR-based audio systems, etc. Increasing demand for 3D audio technology in various applications across industries such as cinema, gaming, and VR concerts, owing to continuous advancements in audio technology, is a major factor driving the global 3D audio market growth. 

The 3D audio market is segmented on the basis of components, end-use industries, and geography. Based on components, the market is segmented into hardware, software, and services. In 2020, the hardware segment accounted for the largest market share. In terms of end-use industries, the 3D audio market is segmented into consumer, automotive, media and entertainment, gaming, and commercial. In 2020, the media and entertainment segment accounted for the largest market share. In terms of geography, the global 3D audio market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). In 2020, North America accounted for a significant share of the global market.

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 for headphones and earbuds. 

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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.

3D Audio Market Component Segment Insights

The 3D audio market, by amplifier type, is segmented into the 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: Competitive Landscape and Key Developments

Auro Technologies; BARCO, Dear Reality; Dolby Laboratories, Inc.; FRAUNHOFER; MIMI HEARING TECHNOLOGIES GMBH; SENNHEISER ELECTRONIC GMBH AND CO. KG; SOUND PARTICLES S.A.; WAVES AUDIO, LTD; and XPERI HOLDING CORPORATION are among the key players in the global 3D Audio market. The leading companies focus on the expansion and diversification of their market presence, and acquisition of new customer base, thereby tapping prevailing business opportunities.

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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.

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