The continuous developments in the media & entertainment sector and the introduction of modern AV technologies fuels the growth of the 3D audio market. The 3D audio manufacturers are focusing on the incorporation of sound-mix technology in hardware to offer enhanced music (sound) to listeners in a 3D space. Also, the proliferation of the gaming industry is boosting the 3D audio market. Moreover, the growing inclination toward online 3D music streaming offers a lucrative opportunity to the 3D audio market players. Furthermore, many companies operating in the 3D audio market are involved in product development. For instance, in February 2023, Agora, Inc., a pioneer and leading platform for real-time engagement APIs, announced the launch of Agora 3D Spatial Audio; it is a solution that enables developers to add dynamic, immersive audio in real-time digital experiences. Similarly, in January 2022, Audioscenic partnered with Razer and THX to launch a Desktop Soundbar with 3D Beamforming Technology and Head-Tracking AI. Thus, the growing innovation by the market players is fueling the growth of the 3D audio market.
A 3D audio sound system is an acoustic system utilized to provide sound in a three-dimensional space to the users. The 3D audio effect is a pattern of different sound effects constructed by 3D speaker arrays, stereo speakers, headphones, and surround-sound speakers. These systems are installed in an extensive range of applications, such as mobile devices, gaming consoles, AR/VR-based audio systems, home theater systems, etc. In addition, industries such as automobiles, consumer electronics, and media & entertainment are implementing 3D audio systems to offer enhanced 3D sound experience and real-time visualization to its users.
The use of advanced technologies such as head-related transfer functions (HRTF) is growing in the media & entertainment industry. Players in the global 3D audio market are working on merging the HRTF technology for improved user experience. When watching movies on smartphones with earphones, 3D audio is more immersive than 2D audio. In the film industry, HRTF integration simulates 3D audio when mirrored sounds reach the ears from multiple directions through various speakers located on all four sides of a space. The HRTF is implemented for a wide range of sound devices, including headphones, to provide a distinct surround sound impression. Consumers are increasingly interested in installing home theater systems that take advantage of the experience offered by HRTF. A certification called Dolby Digital is given to consumers using HRTF, which is based on surround sound effects. HRTF processing is also emulated using software without the use of any external hardware to produce surround sound.
Furthermore, headphone manufacturers are investing in products that integrate HRTF technology to provide users with the greatest 3D auditory environment. In January 2023, JBL expanded its new JBL Quantum Series headsets. After the success of its first wireless gaming headset—the JBL Quantum TWS, the company also launched the next installment in the series—the JBL Quantum TWS Air. Therefore, the constant rise in the use of HRTF in media & entertainment sector fuels the growth of the 3D audio market.
The 3D audio market is segmented on the basis of component, end use industries, and geography. Based on component, the market is segmented into hardware, software, and services. The hardware segment is further segmented into loudspeakers, headphones, microphones, and others. Based on end use industries, the market is segmented into consumer, automotive, media & entertainment, gaming, and commercial. Additionally, based on geography, the market is segmented into Europe, North America, the Middle East & Africa (MEA), Asia Pacific (APAC), and South America (SAM).
Based on component, the 3D audio market is segmented into hardware, software, and services. Loudspeakers, headphones, Bluetooth speakers, microphones, sound bars, and other hardware sound systems are included in the hardware sector. Binaural sound systems are used in 3D audio hardware to acquire, process, and playback audio waves. The 3D audio hardware system's purpose is to provide the listener with an auditory experience that replicates real life. Additionally, 3D audio recordings are made using two microphones. The microphones collect sound in two channels at the same time. Software modifies the recording to imitate the tiny signal fluctuations that occur when each ear transmits messages to the brain, and the concept is referred to as biomimicry. Unlike surround sound, which necessitates the use of several external speakers to provide directional audio sources, 3D audio can be experienced through headphones only.
The global 3D audio market is categorized into North America, Europe, MEA, APAC, and SAM. In 2022, Asia Pacific held the largest share in the 3D audio market, followed by Europe and America. Further, APAC is expected to record the highest CAGR during the forecast period. The 3D audio market growth in APAC is attributed to the presence of various consumer electronics manufacturers, automobile manufacturers, and the entertainment industry in the region, which generate huge demand for amplifiers. Further, the rising use of consumer electronics such as television sets and smartphones, elevating disposable income levels, growing adoption of smart and advanced devices, and the presence of local 3D audio providers are a few factors boosting the growth of the market in the region. China holds the largest share in the 3D audio market in APAC owing to its high production capabilities and low labor costs.
Barco NV; Dolby Laboratories Inc; Auro Technologies; Sound Particles S.A.; XPERI HOLDING CORPORATION; Waves Audio Ltd; Sennheiser electronic GmbH & Co. KG; Fraunhofer; VisiSonics; and THX Ltd are the key 3D audio market players profiled in the report.
The regional trends and factors influencing the 3D Audio Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses 3D Audio Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 6.28 Billion |
| Market Size by 2030 | US$ 19.07 Billion |
| Global CAGR (2022 - 2030) | 14.9% |
| Historical Data | 2020-2021 |
| Forecast period | 2022-2030 |
| Segments Covered |
By Component
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The 3D Audio Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the 3D Audio Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The 3D audio market players highly adopt inorganic and organic strategies. A few recent key market developments are listed below:
The List of Companies - 3D Audio Market
The US is holding the major market share of 3D audio market in 2022.
The rise in use of HRTF in media & entertainment sector and proliferation of gaming industry are the drivers for the 3D audio market.
The global market size of 3D audio market by 2030 will be US$ 19.07 billion.
The key players, holding majority shares, in 3D audio market includes Dolby Laboratories Inc, Auro Technologies, SONY ELECTRONICS INC., Sennheiser electronic GmbH & Co. KG, and Fraunhofer
The use of 3D audio in podcasts can be one of the trends of the 3D audio market.
India is anticipated to grow with the highest CAGR over the forecast period.