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Global Smartphone Audio Codecs Market 2018-2022| Increasing Mobile Data Traffic Drives Growth| TechnavioTechnavio's global smartphone audio codecs market research report forecasts the market to grow at a CAGR of over 3% during the forecast period. However, the growth momentum of the market is expected to decelerate due to a decline in the year-over-year growth. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20181210005580/en/ 
Technavio has released a new market research report on the global smartphone audio codecs market for the period 2018-2022. (Graphic: Business Wire) The growing popularity of social networking applications will be one of the major trends in the global smartphone audio codecs market during 2018-2022. The adoption of audio codec in smartphones for audio conversion has been growing rapidly owing to the proliferation of social media applications that encourage users to click and share audio and video. Hence, there has been an increase in the adoption of audio codec among smartphone manufacturers. This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing According to Technavio analysts, one of the key drivers for the global smartphone audio codecs market is the increase in mobile data traffic:
Owing to the increase in the number of smartphone users subscribing to audio on demand and video on demand applications, there is an increase in mobile data traffic. The consumers use their smartphone to stream videos and play online games. The demand for audio codes from the consumers electronics segment is increasing because of the rising shipment of smartphones. According to a senior research analyst at Technavio, "The rising number of smartphone users has led to an increase in Internet traffic. The rise in data traffic is driven by cloud computing, audio streaming, and video streaming, which is further boosting the growth of the audio codec market. To convert raw audio into higher-quality audio formats, an audio codec IC and software are integrated into the smartphone." Global smartphone audio codecs market: Segmentation analysis This global smartphone audio codecs market analysis report provides market segmentation by type (hardware and software) and by region (the Americas, APAC, and EMEA). This report provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges. Of the two major segments based on type, the software segment held the largest smartphone audio codecs market share in 2017, contributing to around 53% of the market. This segment will dominate the global market throughout the forecast period. The APAC region held the largest share of the market in 2017, accounting for close to 47% share. It was followed by the Americas and EMEA respectively. The APAC region is expected to dominate the market throughout the period 2018-2022. Looking for more information on this market? Request a free sample report Technavio's sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more. Some of the key topics covered in the report include: Market Landscape
Market Sizing
Five Forces Analysis Market Segmentation Geographical Segmentation
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About Technavio Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios. If you are interested in more information, please contact our media team at [email protected].
View source version on businesswire.com: https://www.businesswire.com/news/home/20181210005580/en/ |
