According to a new market report 3D audio market, published by Transparency Market Research. The global 3D audio market is expected to reach US$ 12,340.7 Mn by 2025, expanding at a CAGR of 16.4% from 2017 to 2025. According to the report, the global market is expected to be influenced by a range of macroeconomic and industry-specific factors. Asia Pacific will continue to be at the forefront of global demand, with the market in the region expected to grow at a higher growth rate during the forecast period. Commercial application segment of 3D audio market is anticipated to significantly drive the global market across Middle East and Africa.
Increasing adoption of 3D audio in gaming is the major factor to drive the 3D audio market. Game developing companies are replacing their traditional 2D audio sound engine with advanced 3D audio sound engines. Companies are incorporating specialized neuro-auditory research and advanced digital sound processing (DSP) algorithms that can be integrated directly into a game’s sound engine. Moreover, cinema industry in the global market is experiencing significant advancements.
Over the years, cinema screens have been transformed from analogue to digital format. In the current market scenario, cinema industry is adopting 3D audio sound systems. Furthermore, booming (VR) and augmented realty (AR) and its penetration across museums and exhibitions, is anticipated to create lucrative market opportunities for 3D audio solutions. These attributes of cinema digitization and VR penetration in the end-use market is anticipated to further enhance the adoption of 3D audio systems.
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The global 3D audio market is broadly segmented by component and end-use. According to the research study, the software segment of the market held the maximum market share and anticipated to show a CAGR of above 15% throughout the forecast period. Software’s revenue contribution is primarily due to significant deployment of 3D audio software across cinema industry. The software segment is anticipated to remain dominant over the forecast period. As the market is in its initial stage, services including installation, maintenance, and repair related 3D audio are limited.