3D Audio Market How Are The Different Business Strategies Going To Drive The Revenue Share Of The 2019 - 2027

 

3D Audio Market Outlook 2031

  • The global 3D audio market was valued at US$ 4.6 Bn in 2020
  • It is estimated to expand at a CAGR of 15.5% from 2021 to 2031
  • The global 3D audio market is expected to reach the value of US$ 22 Bn by the end of 2031

Coronavirus Crisis Points at Upward Trend in 3D Audio Adoption

The COVID-19 pandemic has had a relatively positive effect on the 3D audio market. The proliferation of Over the Top platforms is contributing to rapid adoption of the 3D audio technology. According to the latest study, the audio streaming platform has 2.5 million titles globally. Such findings are reflecting an anticipated uptick in the application of the 3D audio technology.

Asia Pacific is predicted to dominate the highest revenue share among all regions in the 3D audio market. Podcasts could benefit from the addition of the 3D sound technology designed to make them sound more realistic.

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3d audio market infographic

Lack of Standard and Universal Format for 3D Audio Affects Adoption Rates

The issues related to connectivity, installation, and maintenance of audio hardware are affecting the rapid adoption rate of 3D audio. Hence, technology providers are investing in advanced equipment amplifiers, mixers for monitoring sound outputs, and multichannel loudspeakers to align with specific guidelines for 3D audio installation.

3D audio engineers are investing in additional speakers and specific AV receivers to deploy efficient 3D audio output. As such, there is a need for a standard and universal format or configuration in the 3D audio market.

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Growing Adoption of 3D Audio Systems in Cinemas Driving Market Expansion

The ever-increasing entertainment industry is generating stable revenue streams for stakeholders in the 3D audio market. Ongoing advancements in augmented reality and virtual reality are contributing toward market growth. Cinema screens have been have been transformed from analogue to digital output. The growing adoption of 3D audio sound systems in the cinema industry is contributing toward market growth.

Currently, products such as DTS Inc., Dolby Labs, and Auro Technologies are being preferred by consumers. According to the latest report by UNESCO, there are approximately 200,000 cinema screens worldwide, of which, 40,000 are in the U.S. The rising number of cinema screens across the world is anticipated to drive the market of 3D audio.

Leading-edge Audio Software Capable of Automatically Perform Various Processes

Next-gen recording and rendering software are contributing to the growth of the 3D audio market. 3D audio software permits to manipulate sounds anywhere in the 3D environment, both horizontally and vertically. For instance, a chirping bird can be placed on a tree with the help of these software. Leading-edge audio software has the capability to automatically calibrate itself based on the type of sound card and audio system.

3D audio is being mainly designed for movies, gaming, broadcasting, and AR/VR systems. 3D audio system includes various process form of recording, production, mixing, and mastering. These systems are composed of hardware, software, and other services.

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3D Audio Engineers Leverage Revenue Opportunities in Corporate AV Space

Inorganic strategies such as partnerships and acquisitions are transforming the 3D audio market. For instance, in 2021, Barco - a specialist in professional visualization and collaboration technologies, partnered with Ideal Systems, Asia’s prominent systems integrator for broadcast & professional AV equipment to unlock revenue opportunities in the corporate AV (audio-visual) space.

In 2020, Dolby Atmos announced that it would be a part of Lucid Air’s new 21-speaker Surreal Sound system to enable a truly immersive listening experience, along with enhanced in-car active audio safety features. Such trends are contributing to the expansion of the 3D audio market. On the other hand, the 3D audio technology is being publicized in the aircraft industry. Future cockpit designs will be introducing new human-machine interface supporting the 3D audio technology.

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