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The global 3D audio market size is forecasted to reach USD 12.97 billion by 2026, owing to the increasing demand for 3-dimensional sound effects from the entertainment industry worldwide. This information is provided in the published report by Fortune Business Insights™ titled, “3D Audio Market Size, Share & Industry Analysis, By Component (Hardware (Loudspeakers, Headphones, Microphones/Mic, Sound Bars and Others (Power Amp, etc.), Software and Services), By End-use (Residential and Commercial) and Regional Forecast, 2019-2026” and provides a thorough analysis of the market and its growth trajectories. According to this report, the market was worth USD 3.80 billion in 2018 and is expected to rise at a CAGR of 16.9% within the forecast period of 2019 to 2026.
HRTF Technology Enabled 3D Audio Systems - New Trend Setter for Market
Head-related Transfer Function or HRTF technology is gaining popularity, especially from the media and entertainment applications. This is likely to boost the overall 3D audio market growth in the forecast period. For instance, Audeze LLC., the manufacturer for planar magnetic headsets, launched high-end headphones in October 2018. Mobius headphones are fully immersive 3D cinematic audio headphones and use HRTF technology. HRTF technology can be installed in predictable applications namely media, entertainment and gaming and provides an acoustic environment for users. Thus, the increasing popularity of acoustic property is expected to help the market gain impetus in the forecast years.
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Increasing Adoption of Cloud Applications – Major Advantage for Market
The report focusses on different 3D audio market trends, that will help our readers to get an in-depth understanding of the market. The advancement of wireless technology is a major market booster. It can solve basic issues such as installation, connectivity, and maintenance of the audio hardware. Various organizations are expanding 3D audio services and software based on cloud capabilities offering an easy method of storing and playing movies and music illimitably. Users get a flexible choice with advanced 3D audio solutions that are based on cloud platforms.
On the other hand, there is an increasing demand from the film and entertainment industry. This will help augment the market growth in the forecast period. This, coupled with the increasing adoption of core communication technology such as Bluetooth, Internet of Things, and Near Field Communication (NFC) is anticipated to attract high market revenue in the forecast duration.
Advent of Acoustic Headphones Have Intensified Market Competition
Major 3D audio market players are investing heavily in the production of acoustic headphones so that the user does not face any disturbance once the earphones are plugged in. This is a major factor intensifying competition among players in the market.
Key industry developments of the 3D Audio market include:
Key players of the 3D Audio Market include:
Further Report Findings
The global 3D audio market is categorized into the following:
2015 - 2026
2019 - 2026
2015 - 2017
Value (USD billion)