Global Audio Codec Integrated Circuits (ICs) Market is valued at approximately USD XX billion in 2021 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2022-2029. An audio codec IC is a chip that serves as a MEMS microphone, audio processor, audio amplifier, and other subsystems. Among the most common types of audio ICs are audio DSPs, audio amplifiers, audio converters, and audio processors. Professional audio, smart homes, portable electronics, and automobile audio are just a few areas where audio IC is used extensively. The need for compact and energy-efficient audio ICs, as well as the rising demand for professional audio systems and smart home gadgets, are some of the key drivers for the growth of the global market. The major driving factors for the market are the rising adoption of connected devices, and the rising demand for entertainment devices is driving the growth of the market. Moreover, the growing adoption of smart homes is creating a lucrative growth opportunity for the market over the forecast period.

According to Statista, from 9.7 billion IoT devices in 2020 to more than 29 billion IoT devices in 2030, the number of IoT devices is expected to nearly treble. China will have almost 5 billion consumer IoT devices by 2030, making it the country with the most of them. However, technical faults associated with audio codec IC is stifles market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Audio Codec Integrated Circuits (ICs) Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue, owing to the dominance of key market players in the region, and the increasing disposable income of the consumers. The Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as rising disposable income, and growing urbanization driving the region's growth over the forecast period.

Major market players included in this report are:

Novo Nordisk A/S

Eli Lilly and Company

Sanofi

Biocon Ltd

Wockhardt

Boehringer Ingelheim International GmbH

Julphar

United Laboratories International Holdings Limited

Tonghua Dongbao Pharmaceutical Co. Ltd.

Pfizer, Inc.