3D audio market size is anticipated to record a valuation of USD 15,000.34 million By 2028
According to new research study on “3D Audio Market to 2028 – COVID-19 Impact and Global Analysis and Forecast – by Component, End Use Industries, and Geography,” the 3D Audio Market is projected to reach US$ 15,000.34 million by 2028 from US$ 5,611.50 million in 2021; it is expected to grow at a CAGR of 15.1% during 2021–2028. With continuous developments in the gaming industry, people of diverse age groups are progressively adopting gaming culture in their daily routine. Although many people play video games to in leisure, an increasing percentage of population has started seeing it as a lucrative career option. The percentages of internet users have reached 73%, 76%, 84%, 83%, and 86% in North America, Europe, APAC, MEA, and SAM, respectively. The internet gaming users among different age group such as 23–26 (millennial), 37–55 (Gen X), and 16–22 (Gen Z) is estimated to be ~48%, ~25%, and ~23%, respectively. Additionally, 3D audio systems in the gaming industry are used to create realistic atmosphere. Due to this, the users can measure and detect the distance from where the sound is generated. Furthermore, ongoing advancements in augmented reality (AR) and virtual reality (VR) applications used for gaming purpose are propelling the adoption of 3D audio systems.
Constant Rise in Demand from Media & Entertainment Sector Drives 3D Audio Market Growth
The growing adoption of advanced technologies such as head-related transfer function (HRTF) across media & entertainment sector. The 3D audio market players across the world are focusing on integrating the HRTF technology for providing enhanced user experience. The 3D audio experience is much more immersive than 2D audio experience when watching movies on smartphones with earphones. In cinema halls, the integration of HRTF simulates the 3D audio when mirrored sounds hit the ears from different directions by using multiple speakers present on all sides of the hall. The HRTF are being integrated across a wide range of sound devices, including headphones, to generate different surround sound effect. Consumers nowadays are highly interested in installing home theater setups, which uses HRTF for enhanced customer experience. For the usage of HRTF a certification named as Dolby Digital is offered to the user, which is based on surround sound effects. Some of the HRTF processing is also simulated with the help of software without the intervention of any external hardware to produce surround sound. Furthermore, headphone manufacturers are investing in the integration of the HRTF technology to deliver best 3D acoustic environment to the users. In October 2018, Audeze announced a gaming headphone named “Mobius cinematic 3D headphones,” with 3D sound effects.
3D Audio Market: Segmental Overview
Based on component, the 3D audio market is segmented into hardware, software and services. The hardware segment led the 3D Audio Market in 2020. The segment comprises loudspeakers, headphones, microphones, sound bars, Bluetooth speakers, and other hardware sound systems. 3D audio hardware uses binaural sound systems to capture, process, and play back audio waves. The goal of 3D audio hardware system is to provide the listener with an audio experience that mimics real life. Further, 3D audio recordings are made with two microphones—one mounted within a human-like head and another mounted at site where the human’s ears would be.
3D Audio Market: Competition 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 that were profiled during the study of 3D audio market. The market players are adopting strategies such as product developments, partnerships, mergers and acquisitions, and collaborations for sustaining the competitive edge.
In 2021, Barco, a global leader in professional visualization and collaboration technologies, partnered with Ideal Systems, Asia’s leading systems integrator for broadcast, cloud, and professional audiovisual equipment. The alliance boosts market leadership of Barco in visualization and processing solutions, particularly in the broadcasting space, while raising Ideal Systems profile in the corporate audiovisual space, as Barco’s new regional Systems Integration for SEAT – starting from Singapore and Malaysia.
In 2020, Dolby Atmos announced that it will be a part of Lucid Air’s new 21-speaker Surreal Sound system, providing a truly immersive listening experience along with enhanced in-car active audio safety features. PR Newswire
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