DUBLIN, July 27, 2023 /PRNewswire/ — The “3D Audio: Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering.
Global 3D Audio Market Expected to Reach $22.1 Billion by 2030
Amidst the evolving post-COVID-19 business landscape, the global 3D audio market, which was valued at US$6.6 billion in 2022, is projected to undergo substantial growth and attain a revised size of US$22.1 billion by 2030. This growth is anticipated to occur at a robust Compound Annual Growth Rate (CAGR) of 16.3% during the analysis period spanning from 2022 to 2030. Among the segments analyzed in the report, the hardware segment is expected to perform well, with a projected CAGR of 15.6% and an estimated value of US$11.2 billion by the end of the analysis period. Additionally, considering the ongoing post-pandemic recovery, the software segment’s growth is readjusted to a revised 17.3% CAGR for the next eight-year period.
The U.S. 3D Audio Market Estimated at $2 Billion, While China to Grow at 15.6% CAGR
The 3D audio market in the U.S. is estimated to be valued at US$2 billion in 2022. On the other hand, China, the world’s second-largest economy, is forecast to reach a projected market size of US$3.8 billion by the year 2030, exhibiting a CAGR of 15.6% over the analysis period from 2022 to 2030. Other noteworthy geographic markets include Japan and Canada, each expected to grow at 15.2% and 13.8% CAGR, respectively, over the period from 2022 to 2030. Within Europe, Germany is forecasted to experience growth at an approximate CAGR of 11.7%.
Select Competitors (Total 41 Featured) –
What`s New for 2023?
Special coverage on Russia–Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
Global competitiveness and key competitor percentage market shares
Market presence across multiple geographies – Strong/Active/Niche/Trivial
Online interactive peer-to-peer collaborative bespoke updates
Access to digital archives and the publisher’s Research Platform
Complimentary updates for one year
Looking Ahead to 2023
Higher retail inflation will impact consumer confidence and spending. As governments combat inflation by raising interest rates, new job creation will slowdown and impact economic activity and growth. Lower capital expenditure is in the offing as companies go slow on investments, held back by inflation worries and weaker demand.
With slower growth and high inflation, developed markets seem primed to enter into a recession. Fears of new COVID outbreaks and China’s already uncertain post-pandemic path poses a real risk of the world experiencing more acute supply chain pain and manufacturing disruptions this year.
Volatile financial markets, growing trade tensions, stricter regulatory environment and pressure to mainstream climate change into economic decisions will compound the complexity of challenges faced. Year 2023 is expected to be tough year for most markets, investors and consumers. Nevertheless, there is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.
Influencer Market Insights
World Market Trajectories
Impact of Covid-19 and a Looming Global Recession
3D Audio – Global Key Competitors Percentage Market Share in 2020 (E)
Competitive Market Presence – Strong/Active/Niche/Trivial for Players Worldwide in 2020 (E)
For more information about this report visit https://www.researchandmarkets.com/r/xo7syw
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SOURCE Research and Markets