Report : South & Central America 3D Audio Market Forecast to 2030 - Regional Analysis - By Component (Hardware, Software, Services) and End Use Industries (Consumer Electronics, Automotive, Media and Entertainment, Gaming, and Others)
At 11.3% CAGR, the South & Central America 3D Audio Market is projected to be worth US$ 779.88 million by 2030, says Business Market Insights.
According to Business Market Insights research, the South & Central America 3D audio market was valued at US$ 330.38 million in 2022 and is expected to reach US$ 779.88 million by 2030, registering a CAGR of 11.3% from 2022 to 2030. Increasing importance of spatial audio and proliferation of gaming industry are among the critical factors attributed to the South & Central America 3D audio market expansion.
The process of capturing sound in three dimensions, allowing the listener to perceive sound as if it were coming from all directions, is referred to as 3D audio recording. This is accomplished by employing specialized recording techniques and equipment capable of capturing spatial information about sound waves, such as distance and direction. Moreover, in gaming, 3D audio recording provides players with a better sense of spatial awareness. Sound can be placed in precise locations, allowing players to recognize the source of the sounds and react accordingly. This is also useful in multiplayer games, where players need to know the location of their opponents. Also, spatial audio enhances the immersive experience in gaming, VR, and AR applications, making it a key selling point for these applications. Furthermore, filmmakers and content creators can use 3D audio to provide a more engaging and realistic audio experience for viewers, leading to increased demand for 3D audio technologies. By using the 3D audio software services to enhance the quality of the audio. Therefore, the growing importance of spatial audio in various industries is expected to create diverse opportunities for the South & Central America 3D audio market players in the coming years.
On the contrary, connectivity issues and high overall costs hampers the growth South & Central America 3D audio market.
Based on component, the South & Central America 3D audio market is segmented into hardware, software, and services. The hardware segment held 52.7% share of the South & Central America 3D audio market in 2022, amassing US$ 174.05 million. It is projected to garner US$ 434.44 million by 2030 to expand at 12.1% CAGR during 2022-2030.
Based on end use industries, the South & Central America 3D audio market is segmented into consumer electronics, automotive, media and entertainment, gaming, and others. The media and entertainment segment held 29.5% share of the South & Central America 3D audio market in 2022, amassing US$ 97.59 million. It is projected to garner US$ 209.19 million by 2030 to expand at 10.0% CAGR during 2022-2030.
Based on country, the South & Central America 3D audio market is segmented into Brazil, Argentina, the rest of South & Central America. Brazil held 67.6% share of South & Central America 3D audio market in 2022, amassing US$ 223.30 million. It is projected to garner US$ 544.95 million by 2030 to expand at 11.8% CAGR during 2022-2030.
Key players operating in the South & Central America 3D audio market are Barco NV, Dolby Laboratories Inc, Fraunhofer, and Sennheiser electronic GmbH & Co. KG, among others.
- In Aug 2023, Dolby Laboratories, one of the leaders in immersive entertainment experiences, unveiled its latest innovation in immersive audio - Dolby Atmos FlexConnect. TCL, a world leading TV brand, will be the first to implement Dolby Atmos FlexConnect in its 2024 TV lineup.
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