| Press Release
Global Smartphone Audio Codecs Market Report 2020-2027 with COVID-19 Impact Insights on Production and Procurement for 2020 & 2021
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Global Smartphone Audio Codecs Market to Reach $8.3 Billion by 2027
Amid the COVID-19 crisis, the global market for Smartphone Audio Codecs estimated at US$6.3 Billion in the year 2020, is projected to reach a revised size of US$8.3 Billion by 2027, growing at a CAGR of 4.1% over the period 2020-2027.
The U. S. Market is Estimated at $1.8 Billion, While China is Forecast to Grow at 3.9% CAGR
The Smartphone Audio Codecs market in the U. S. is estimated at US$1.8 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.5 Billion by the year 2027 trailing a CAGR of 3.9% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.8% and 3.4% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3.9% CAGR.