Growing Adoption in the Gaming Industry Will Drive 3D Audio Market Growth
The 3D audio market was valued at $3.45 billion in 2017 and is expected to grow at a CAGR of 17.2% between 2018 and 2026. The rise of digital music has substantially changed the ways in which music is consumed today. The devices used to record and play these sounds have also changed, with audio technology in a constant flux of changing listening experiences. In this context, 3D audio has changed the landscape of a video by attaching the sound to a certain object. One of the most prominent factors aiding the 3D audio market's growth is an improvement in consumer acceptance of 3D audio. This factor is further helped by the decline in product prices. Therefore, with rising disposable income across various countries such as China, India, and Brazil, among others, people are further expected to increase their spending on personal entertainment. Moreover, the increasing adoption of 3D audio in the gaming industry is another major factor contributing to the 3D audio market's growth. Recent trends have revealed that game-developing companies are upgrading their sound engines from 2D audio to 3D audio. However, the absence of any universal and standard format or configuration has impacted the large-scale proliferation of this technology negatively.
Market Synopsis
Increasing demand for portable entertainment devices is contributing to personal end-use segment growth.
The commercial end-use segment held the largest share in the overall 3D audio market in 2017 and is expected to continue its dominance throughout the forecast period. 3D audio is used in the commercial space in movies, automobiles, VR, and gaming, among others, and the segment is expected to create lucrative opportunities for 3D audio in the years to come. However, owing to increasing 3D audio integration in home cinema and gaming, the personal end-use segment is expected to witness the fastest growth during the forecast period from 2018 to 2026. Furthermore, rising household demand for portable entertainment devices is expected to remain a significant factor, complementing the growth of the personal end-use segment.
In the near future, the evolution of the cinema industry will make India an important market for 3D audio.
The global 3D audio market was dominated by Asia Pacific, which accounted for more than 30% of the overall market value in 2017. The 3D audio market in the region is driven by the rising proliferation of portable media devices coupled with cinema digitization. Analyzing the Asia Pacific market further at the country level, China held the largest value share in 2017. However, due to the evolution of the Indian film industry, the country is expected to emerge as a lucrative market for 3D audio in the coming years, with significant growth.
The market's enormous growth potential will attract many players in the coming years.
Considering the enormous growth potential the 3D audio market has to offer, many companies are investing in the market to strengthen their foothold. Dirac, a company that specializes in digital sound solutions for the home, theater, car, and mobile devices, recently announced its entry into the gaming headset market. The company announced its 3D audio surround sound for a gaming headset slated to be introduced later in 2018. However, new entrants may find it a challenge to venture into the market without a unique value proposition, considering players such as Dolby, DTS, and Sennheiser, among others, already have strong technical expertise and presence in the market.
Periods of History and Forecast
2016 : Historic year.
2017: Base Year
2018–2026: Forecast Period
This research report presents the analysis of each segment from 2016 to 2026, considering 2017 as the base year for the research. The compound annual growth rate (CAGR) for each of the respective segments is calculated for the forecast period from 2018 to 2026.
Report Scope by Segments
The report elucidates the detailed outline of the global 3D audio market by categorizing it in terms of product type, end-use, sales channel, and geography.
Product Type (2016-2026; US Dollars)
Speakers
Wired
Wireless
Headphones
Wired
Wireless
Microphone
Wired
Wireless
End-of-life (2016-2026; $BN)
Personal
Commercial
Sales Channel (2016-2026; billions of dollars)
Offline Channels
Online Channels
Geography (2016-2026; USD Billion)
North America
United States
Canada
Europe
United Kingdom
Germany
France
Rest of Europe
Asia-Pacific (APAC)
China
Japan
India
Rest of APAC
Rest of the World (RoW)
Middle East and Africa (MEA)
Latin America
Key players profiled in the report include Auro Technologies Inc., 3D Sound Labs, dearVR, Comhear Inc., Dolby Labs, Core Sound LLC, DTS, Inc. (Xperi Corporation), Hooke Audio, Sennheiser Electronic GmbH & Co., Dysonics, ISONO Sound, VisiSonics Corporation, and Waves Audio Ltd.
Frequently Asked Questions:
The market for 3D Audio is expected to reach US$ 3.45 Bn in 2026.
The 3D Audio market is expected to see significant CAGR growth over the coming years,at 17.2%.
The report is forecasted from 2018-2026.
The base year of this report is 2017.
Auro Technologies, Inc.,3D Sound Labs,dearVR,Comhear, Inc.,Dolby Labs2 are some of the major players in the global market
