The 3D audio market revenues were estimated at US$ 6.6 Bn in 2021 and is anticipated to grow at a CAGR of 15.3% from 2022-2032, according to a recently published FMI report. By the end of 2032, the market is expected to reach US$ 31.9 Bn.
3D audio market is likely to observe a CAGR of 15.3% in the next ten years, fueled by the growing demand for 3D audio and its applications in a wide range of industries including automobiles, media and entertainment, and gaming. Commercial end-use of 3D audio is expected to garner traction, wherein gaming industry is expected to be pivotal towards the revenue expansion.
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Key Takeaways from the Market Study
- Global 3D audio market is expected to reach a market size of US$ 31.9 Bn by 2032.
- In 2022, market value of 3D audio software is estimated at US$ 4.6 Bn.
- Software also shows the highest potential for growth in the components segment. The segment is expected to grow at a CAGR of about 14.0% from 2022- 2032.
- China, the key market is expected to hold the prominent market share and grow at a CAGR of 15.8% during 2022 – 2032.
Who is winning?
Some of the key players present in the 3D audio market are 3D Sound Labs, Auro Technologies Inc, Dolby Labs, Hooke Audio, dearVR, Fraunhofer, Sennheiser electronic GmbH & Co., VisiSonics Corporation, Google, and Waves Audio Ltd. among others.
A number of regional and global players operate in this market. These companies compete based on the innovation of their products, their quality, their brand reputation, and their market presence in order to sell their products through various industries. A variety of strategies are being employed by companies to remain competitive.
- In Mar 2022, Sennheiser announce that it will focus on professional audio business. The company is confirmed expansion of their portfolio in pro audio and business communication unit.
- In Feb 2022, Dolby Laboratories acquired Millicast, a developer platform providing ultra-low latency video streaming capabilities at a scale to massive audience.
- In Feb 2022, Dear Reality released latest monitoring plugin dearRV MIX which suits for all professional studio headphones. It will strengthen the portfolio of the company technologically.
- In Dec 2021, VisiSonics partnered with University of Maryland to pioneer 3D audiogram technology. It will have a wide range of application in gaming and military headsets.
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Get Valuable Insights into 3D Audio Market
Future Market Insights, in its new offering, provides an unbiased analysis of the global 3D audio market, presenting historical demand data (2015-2021) and forecast statistics for the period from 2022-2032.
The study divulges compelling insights on the 3D audio market based on by Components (Hardware, Software, Services), by End-use (Personal/in-house, Commercial) across five regions (North America, South America, Europe, Asia Pacific and Middle East & Africa).
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