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Global 3D Audio Market to Reach USD 14.7 Billion by 2026, Aided by the Developments in the Entertainment Industry

According to a new report by EMR titled, ‘Global 3D audio Market Report and Forecast 2021-2026’, the global market for 3D audio is expected to grow at a CAGR of 16% in the forecast period of 2021-2026 and reach a value of USD 14.7 billion by 2026.

The global market of 3D audio is being significantly aided by the increasing developments being made in the entertainment as well as the media industry. Applications like virtual reality and augmented reality are the major factors driving the market growth. The increasing usage of VR in the gaming industry is also facilitating the 3D audio industry growth. The growing consumer electronics industry is further aiding the market growth. Rising research and development activities bringing new innovations in the field of audio-based gadgets are also aiding the market. The growing retail market coupled with the increasing middle-class population and improving standards of living is also boosting the industry growth. The market is further expected to grow in emerging regions, owing to their increasing industrial activities, rapid urbanisation, and rising disposable incomes. However, the rising prevalence of coronavirus pandemic across the world has hindered the market growth, but with reducing lockdowns and economies turning back to normal, the 3D audio industry is likely to grow during the forecast period.

Companies like Dolby Laboratories Licensing Corporation (US NYSE: DLB) have also facilitated in maintaining the demand across the globe for products made with 3D audio. On the basis of geography, North America is the major contributor to the market, specifically due to the demand generated from countries like the United States. Also, the Asia Pacific is expected to emerge as a significant market in the coming years owing to the increasing consumer electronics industry, especially from countries like Japan and India.

Market Breakup by Component, Products, Sound Type, End Use, and Region:

  • In terms of component, the market is divided into software and services.
  • By products, the market is further classified into loudspeaker, headphones/earphones, sound bars, ARVs, and others.
  • On the basis of sound type, the market is segmented into binaural and ambisonics.
  • The market is divided based on end-use into commercial, personal, and others.
  • Region-wise, the global market for 3D audio can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The market is aided by the significant developments being made in the entertainment industry. 
  • The rapid urbanisation and industrialisation, along with increasing disposable income and the thriving retail market, is also boosting the market growth.
  • The increasing applications of 3D audio into products such as virtual reality (VR) and augmented reality (AR).
  • The growing consumer electronics industry is further propelling the market growth.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for 3D audio for the periods (2016-2020) and (2021-2026). 
  • The report also offers historical (2016-2020) and forecast (2021-2026) market information for the components, products, sound types, end-uses, and regional markets of 3D audio.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global 3D audio market include Dolby Laboratories Licensing Corporation, Waves Audio Ltd, Auro Technologies Inc., Comher Inc., Sennheiser Electronics GmbH & Co. KG, and Dysonics, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always strive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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