Press release
3D Audio Market Expected to Reach USD 19.07 Billion by 2030
3D Audio Market
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The 3D audio market in APAC has been analyzed on the basis of historical, current, and future trends in countries across the region. The need for 3D audio is relatively high in the media & entertainment and gaming sectors. Most of the countries in the region have developing economies, making them capable of investing in advanced technologies. The 3D audio market growth is attributed to continuous developments in the media & entertainment sector in countries such as India, China, South Korea, and Australia.
Similarly, the adoption of video gaming is rising in the APAC population, irrespective of age groups. In 2020, according to Newzoo. The demand for 3D audio systems increased due to the presence of 1.5 billion gamers in the region. China, Japan, and South Korea are among the top 10 markets in terms of game revenues. Taiwan, India, Indonesia, Thailand, the Philippines, Malaysia, and Vietnam are other small gaming markets in the Asian economy. Moreover, the trend of e-sports is gaining momentum in the region; ~10 million enthusiasts, including 2 million in Indonesia and 2.8 million in Vietnam, have shown their interest in e-sports. As per the Singapore Cybersports and Online Gaming Association, there are 500,000 gamers in Singapore, and the figure is predicted to rise further in the coming years.
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Moreover, Indonesia is the largest gaming market in Southeast Asia, and the Animation and Creative Industry Association in the country provides strong support to game developers. Also, in April 2023, WePlay Ventures, which recently expanded its operational region to Central Asia, launched the largest Game Acceleration Program in Central Asia in collaboration with major players in the gaming industry. Furthermore, early-stage gaming studios that are involved in developing games for mobile, PC, console, and Web3 platforms in Central Asia are qualified to apply to the program. Thus, the growing media & entertainment and gaming industry is creating an opportunity for the growth of the 3D audio market in APAC.
The 3D audio market size is segmented into component, end use industries, and geography. Based on component the market is segmented into hardware, software, services. Based on the end use industries, the market is segmented into consumer, automotive, media and entertainment, gaming, commercial. Additionally, based on geography, the 3D audio market is segmented into Europe, North America, Middle East & Africa (MEA), Asia Pacific (APAC), and South America (SAM).
3D Audio Market Key Findings:
Asia Pacific held the largest share in the 3D audio market in 2022, followed by North America and Europe. As North America has a vast entertainment industry and is home to Hollywood, the demand for quality sound experiences is high among the customers in the region. Hence, the film, television, and gaming industries are rapidly increasing the adoption of 3D audio technology to improve the audio and visual quality, fueling the 3D audio market growth. Furthermore, North America has the strongest and the largest gaming industries across the globe. As gamers seek a realistic gaming experience, 3D audio technology plays a critical role in providing this quality to the customers, which will create an opportunity for the growth of the market in the region.
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Contact Us:
If you have any queries about this report or if you would like further information, please contact us:
Contact Person: Ankit Mathur
Sr. Vice President - Research
E-mail: sales@theinsightpartners.com
Phone: +1-646-491-9876
About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
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