The global 3D audio market revenue is expected to expand at a lucrative CAGR over the forecast period. Increasing consumer awareness regarding new technologies and their features is major factor expected to drive revenue growth of the global 3D audio market over the forecast period.
The global 3D audio market report has been segmented on the basis of component type, end-use, and region. On the basis of component type, the target market is segmented into hardware, software, and services. the hardware component type segment is further sub-segmented into loudspeakers, headphones, microphones/mic, and sound bars. The hardware component type segment is expected to register significant share in terms of revenue over the forecast period, owing to continuous advancements and new product launches.
On the basis of end-use, the target market is segmented into personal/in-house and commercial. the personal/in-house end-use segment is further sub-segmented into mobile devices, home theater, and gaming. The commercial end-use segment is further sub-segmented into automobile, cinema, music, gaming, VR concerts, and others.
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Based on the region the global 3D audio market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in North America is estimated to account for significant growth over the forecast period, owing to technological advancements and availability of smart devices in various countries in this region. The market in Asia Pacific is expected to register highest CAGR in terms of revenue, owing to incising demand for 3D audio technology from cinema industry and rising adoption of smart gadgets such as smartphones, headphones, speakers, Bluetooth, etc., across various countries in this region.
Key players operating in the global 3D audio market include 3D Sound Labs SAS, Auro Technologies N.V., Comhear, Inc., DearVR, Dolby Laboratories, Inc., Xperi Corporation, Dysonics, Inc., Fraunhofer-Gesellschaft zur Förderung der angewandten Forschung e.V. (Fraunhofer), Hooke Audio, and Sennheiser Electronic GmbH & Co. KG.