The 3D audio market is expected to grow from US$ 5,611.50 million in 2021 to US$ 15,000.34 million by 2028; it is estimated to grow at a CAGR of 15.1% from 2021 to 2028.
Continuous technological innovations in home audio systems and increasing demand for high-performance home theaters are propelling the adoption of 3D audios in these systems.Moreover, developments in the Wi-Fi and Bluetooth speakers, and dedicated speaker dock stations would encourage consumer spending on audio equipment for enhanced audio quality.
Bluetooth facilitates wireless connection between stereo systems or soundbars and smartphones, as well as other streaming devices.The rising application of wireless or Bluetooth speakers and home audio systems, coupled with their advanced connectivity features such as online connectivity for music and video content, is bolstering the demand for Wi-Fi and Bluetooth speakers, which is fueling the 3D audio market.
Further, growing demand for smart speakers is another factor propelling the 3D audio sales.Smart speakers allow users to stream audio from a variety of sources with an audio request.
With the increasing popularity of these speakers, manufacturers are adding audio and voice functionalities such as 3D surround, wireless access points, soundbars, smart thermostats, and smart home hubs to their products. The aforementioned technological developments in audio systems are propelling the demand for 3D audios.
Auro Technologies; BARCO, Dear Reality; Dolby Laboratories, Inc.; FRAUNHOFER; MIMI HEARING TECHNOLOGIES GMBH; SENNHEISER ELECTRONIC GMBH AND CO. KG; SOUND PARTICLES S.A.; WAVES AUDIO, LTD; and XPERI HOLDING CORPORATION are among the key companies operating in the 3D audio market. These companies are also profiled in the report.
The overall size of the 3D audio market has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
The process also serves the purpose of obtaining an overview and forecast for the 3D audio market with respect to all the segments.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.
The participants of this process typically include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers—along with external consultants such as valuation experts, research analysts, and key opinion leaders—specializing in the 3D audio market.