The global digital A/V decoder demand is anticipated to grow at a healthy CAGR during the forecast period from 2022 and 2032. Growth is attributable to the rising demand for digital A/V decoders in many automotive, residential, professional, and consumer video applications.
Digital A/V decoder is a device or a computer program (software) that can decode audio/visual content easily. It is being increasingly used to convert digital signals from a number of sources (mostly TV providers) into images and sounds.
Over the last few years, demand for digital A/V decoders has risen substantially and the trend is likely to continue during the forecast period. Their basic function is to decode the signal, amplify the audio signal to drive multiple speakers, and allow pass-through of the corresponding video signal to a display device such as a television or a projector.
Adoption of digital A/V decoders has significantly minimized the need for using numerous separate pieces of equipment. They have an infrared remote-control feature by means of which they can be easily operated.
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Increasing spending by people on consumer electronics such as home theatres, televisions, and connected devices coupled with rise in the number of DTH service providers is anticipated to generate lucrative growth avenues within the global digital A/V decoder market during the forecast period.
Moreover, innovation in digital A/V decoders and reduction in product prices will further expand the market size during the forthcoming years.
Which Factors are Driving the Growth in Digital A/V Decoder Market?
The swift growth of digital A/V decoder market is attributed to the flourishing consumer electronics industry worldwide, rising adoption of home entertainment options, increase in the number of DTH providers, and growing popularity of digital A/V decoders due to their various benefits.
In recent years, digital A/V decoders have gained wider popularity due to their enhanced durability and high efficiency. These solutions are available in an attractive and compact package, which can be installed at almost any location. They can be used for multi-channel digital media signal decoding and output.
Consumers across the world are increasingly employing digital A/V decoders to get high-definition audio/visual content without the need to include additional control components. This advantage of digital A/V decoders to eliminate the need for additional components is likely to continue fueling their adoption during the forecast period.
Similarly, addition of various attractive features, such as integration of earphone jack and LCD is expected to generate lucrative growth prospects within the global digital A.V decoder market in the forthcoming years.
In addition to this, rising demand for consumer electronic devices along with growing popularity of home theaters is expected to further expand the size of the global digital A/V decoder market during the forthcoming years.
What are the Challenges Faced by the Digital A/V Decoder Industry?
Despite its optimistic stance, digital A/V decoder market is facing several challenges that are likely to affect its growth during the forecast period. Some of these challenges are the higher chances of current leakage and the consequential damage to the components of a digital A/V decoder. Moreover, availability of cheap Digital A/V Decoders in an unorganized market is also expected to limit the market growth during the assessment period.
Why is North America Considered as a Prominent Market for Digital A/V Decoders?
As per FMI, North America holds the largest share of the global digital A/V decoders market in 2022 and is projected to maintain its lead during the forecast period, owing to the rising demand for digital A.V decoders and other consumer electronics, presence of leading market players, and growing popularity of home entertainment products.
Similarly, surge in input signal amplification services and solution providers is positively impacting the growth of digital A/V decoder market across North America.
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How Will Growth Unfold in Asia Pacific Excluding Japan (APEJ) Market?
According to Future Market Insights, the Asia Pacific Excluding Japan (APEJ) market is poised to grow at a relatively higher CAGR during the forecast period, owing to the rising adoption of digital A/V decoders across various end use verticals, rapidly growing population, and rising popularity of home theaters and several other entertainment products.
Countries such as China and India are becoming ideal destinations for the digital A/V decoders due to the presence of a huge population, increasing spending by people on home entertainment options, growing popularity of connected devices, and rapid increase in the number of DTH service providers. Moreover, growing adoption of digital A/V decoders in industrial and scientific applications is positively impacting the market growth and the trend is likely to prevail during the assessment period.
Market Competition
Some of the key participants present in the global digital A/V decoder market include Flaunt Corps., STMicroelectronics, NXP Semiconductors, NOGA, Dolby Laboratories, Cirrus Logic, Gefen (a subsidiary of Nortek Security and Control), Orei, AP LINK, Cablesetc, Kanex Pro and Neoteck, among others.
Attributed to the presence of such a high number of participants, the market is highly competitive in nature. In order to capitalize on the emerging opportunities and gain a competitive edge in the market, key players are continuously adopting growth strategies such as mergers, partnerships, acquisitions, new product launches, and strengthening of distribution channels.
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Key Segments Profiled in the Digital A/V Decoder Industry Survey
By Output Port Type:
- Optical output port
- Coaxial output port
By Application:
- Residential
- Industrial
- Scientific
By Type:
- Codec device
- Codec software
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- APEJ
- Japan
- Middle East & Africa
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