$4.8 Billion Worldwide 3D Audio Industry to 2027 - Impact of COVID-19 on the Market

Research and Markets
·3 min read

Dublin, Oct. 28, 2020 (GLOBE NEWSWIRE) -- The "3D Audio - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

The publisher brings years of research experience to the 9th edition of this report. The 173-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.

Global 3D Audio Market to Reach US$13.7 Billion by the Year 2027

Amid the COVID-19 crisis, the global market for 3D Audio estimated at US$4.8 Billion in the year 2020, is projected to reach a revised size of US$13.7 Billion by 2027, growing at a CAGR of 16.1% over the analysis period 2020-2027.

Hardware, one of the segments analyzed in the report, is projected to grow at a 15.4% CAGR to reach US$7.1 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Software segment is readjusted to a revised 17.2% CAGR for the next 7-year period. This segment currently accounts for a 28.9% share of the global 3D Audio market.

The U.S. Accounts for Over 29.6% of Global Market Size in 2020, While China is Forecast to Grow at a 15.6% CAGR for the Period of 2020-2027

The 3D Audio market in the U.S. is estimated at US$1.4 Billion in the year 2020. The country currently accounts for a 29.58% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$2.4 Billion in the year 2027 trailing a CAGR of 15.6% through 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 15% and 13.7% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 11.6% CAGR while Rest of European market (as defined in the study) will reach US$2.4 Billion by the year 2027.

Services Segment Corners a 17.2% Share in 2020

In the global Services segment, USA, Canada, Japan, China and Europe will drive the 16.2% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$664.9 Million in the year 2020 will reach a projected size of US$1.9 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1.7 Billion by the year 2027.

Competitors identified in this market include, among others:

  • 3D Sound Labs

  • Auro Technologies

  • Barco Audio Technologies (ISONO Sound)

  • Comhear Inc.

  • Core Sound LLC

  • Dear Reality GmbH

  • Dolby Laboratories, Inc.

  • DTS, Inc.

  • Dysonics

  • Hooke Audio

  • Sennheiser Electronics GmbH & Co. KG

  • VisiSonics Corporation

  • Waves Audio Ltd.

Key Topics Covered:

I. INTRODUCTION, METHODOLOGY & REPORT SCOPE

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

  • Impact of Covid-19 and a Looming Global Recession

  • Global Competitor Market Shares

  • 3D Audio Competitor Market Share Scenario Worldwide (in %): 2018E

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

  • Total Companies Profiled: 43

For more information about this report visit https://www.researchandmarkets.com/r/3o0hz0

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