3D Audio Market - This Rise is Attributable To Further Improvement In Consumer Acceptance

The audio industry, which is in a re-evaluation stage, is witnessing significant technological advancements across the industry. Developments in music industry, which saw introduction of upgraded audio technology, also known as three dimensional (3D) audio, has changed the way services are being delivered. With focus on enhancing consumer experience, this sound mix technology delivers music (Sound) to a listener in 3 dimensions. The market for 3D audio is forecast to quickly grow to US$ 12.34 Bn by 2025 from US$ 3.20 Bn in 2016, recording a CAGR of 16.4%.

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3D audio market has seen demand traction due to rising implementation across end-use applications, with commercial implementations holding the largest share. Industries, such as gaming, cinemas, music, and automobiles, have been leading verticals in adopting the technology so as to enhance natural sound experience and real-life visualization experience for their customers.

Though 3D vision has been long in demand and visual technologies already enjoying strong acceptance among industries and consumers, 3D audio has off late gained traction. A close study of recent product launches and developments of the key industry participants active in the 3D audio market reveals that industries such as gaming, music, VR, and cinemas would continue to dominate the market throughout the forecast period. Non-commercial applications too such as personal mobile devices and home theater are forecast to see demand surge; however, gaining significant uptake towards second half of forecast period of the 3D audio market study. Typical personal entertainment devices include products such as, ambeo headsets, hookes verse headphones, 3D audio enabled headphones, head trackers and others. This rise is attributable to further improvement in consumer acceptance and expected dip in product prices. Factors such as improvement in consumer spending on personal entertainment is seen as crucial to influencing market growth trends for both the commercial and non-commercial applications. 3D audio market however still faces challenges such as absence of any standard and universal format or configuration, which has negatively affected further large scale proliferation of technology.

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These existing technology integration and distribution related challenges give way to possible opportunities, such as need for service providers or intermediaries addressing compatibility issues. Any further development and exploration of 3D audio technology as human computer interface technology is expected to open new set of unexplored opportunities, right from automation/IoT to driver assistance systems, remote device management, and so on, thereby supporting 3D audio market growth.

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