The Europe audio codec market is anticipated to register a CAGR of 5.36% during the forecasted period of 2021 to 2028. The regional market’s growth is attributable to key drivers, including the rising adoption of technology within sectors such as wearables and telecommunication for offering high resolution and enhanced connectivity, the collaborations between entertainment platforms and numerous companies, the growing use of smartphones, and the surging penetration of consumer electronics.
The Europe audio codec market growth evaluation constitutes the detailed assessment of the United Kingdom, Poland, Italy, Russia, Belgium, France, Germany, and Rest of Europe. While Germany is a home country for the evolution of electronic devices, it is also the largest market for audio codecs in Europe. The use of hardware, as well as software codecs, is rapidly augmenting in the nation, in addition to the surging use of smartphones, smart homes, and media streaming platforms. According to the European Union (EU), value-added tax (VAT) on television purchases and licenses is zero, and thus smart televisions and other smart home devices are relatively affordable in Germany.
On the other hand, in April 2021, Fraunhofer collaborated with Sinclair to integrate the Digital Radio Mondiale framework into the ATSC 3.0 digital television platform. This collaboration resulted in the extensive usage of audio codecs in digital and OECD 4K televisions. Therefore, the abovementioned factors are set to fuel the audio codec market in Europe during the estimated years.
The top firms operating in the market are STMicroelectronics, Fraunhofer IIS, Barix AG, etc.
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- Explore key findings of the overall market
- Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
- Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
- Market Segmentation cater to a thorough assessment of key segments with their market estimations
- Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
- Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
- Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
- Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments