The Europe 3D audio market has been analyzed on the basis of historical, current, and future trends in France, Germany, Italy, the UK, Russia, and the Rest of Europe. The consumer electronics industry in these countries is focused on introducing innovative products. The population of Europe is inclined toward using branded products. With the emergence of VR/AR devices in recent years, the demand for enhanced surround sound experience is gaining momentum in the region. Western Europe is well-known for its better living conditions, with residents experiencing higher income levels. The high standards of living in Western European countries drive the demand for 3D audio devices. The gaming industry in the region is proliferating, which highly integrates the 3D audio features on the gaming platform. In September 2021, OneMoreLevel, a Poland-based gaming company, introduced a new action game—Ghostrunner—with advanced features such as faster loading and haptic feedback, a DualSense controller, and 3D audio.
In addition, European countries initiated strong research and development activities focused on 3D audio. For instance, in February 2021, researchers from Imperial College London were awarded a grant of ~US$ 6.93 million for the development of immersive 3D sound systems enabled by artificial intelligence (AI) for virtual and alternative reality situations, such as lectures, gaming, and online meetings. The EU has initiated the Binaural Tools for Creative Industries (BINCI) project for the research and development of a solution to ease the production of 3D audio and binaural audio. Therefore, substantial research activities to further enhance the 3D audio solution are boosting the 3D audio market growth in Europe.
Numerous automakers have their establishments across European countries, and they are also supported by innumerable component manufacturers. With the robust automotive sector in these countries, there is a high demand for advanced telematics and entertainment devices; the automotive players are seeking advanced audio solutions such as 3D audio navigation maps. Further, in May 2022, the Portuguese deep tech company that was awarded an Oscar for Best Sound in the Hollywood film—Dune—aims to promote its presence in the gaming/VR world and expand its product range in the music production segment. To achieve these goals, the startup has raised a funding of US$ 2.6 million to rollout 3D audio technology for headphones.
End Use Industries Segment Dominated by Hardware in 3D Audio Market
The media & entertainment sectors are contributing significantly to the global 3D audio market growth. In addition, the advent of cloud computing solutions in the media and entertainment field and the escalating adoption of HRTF technology are expected to boost market performance during the forecast period. Additionally, 3D audio systems have several applications in media & entertainment, such as movies and tv shows, music, virtual reality (VR), and augmented reality (AR). In addition to these specific applications, 3D audio is also being used in a variety of other ways in the media & entertainment industry. For example, 3D audio is being used to create immersive podcasts, audiobooks, and even live performances. Therefore, these multiple applications of 3D audio in media & entertainment industry are booting the growth of market.
3D Audio Market: Segmental Overview
Based on component, the 3D audio market is segmented into hardware, software, and services. The hardware segment is further segmented into loudspeakers, headphones, microphones, and others. The hardware segment recorded the largest 3D audio market share in 2022 and is anticipated to register the highest CAGR during the forecast period. Based on product, the 3D audio market is segmented into consumer electronics, automotive, media & entertainment, gaming, and others. The media & entertainment segment registered the largest share of the 3D audio market in 2022, whereas the automotive segment is anticipated to record the highest CAGR during the forecast period. Based on geography, the 3D audio market is segmented into North America, Middle East & Africa (MEA), Asia Pacific (APAC), Europe, and South America (SAM). North America recorded the largest 3D audio market share in 2022, whereas APAC is anticipated to register the highest CAGR during the forecast period.
3D Audio Market Analysis: Competitive Landscape and Key Developments
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 among the key 3D audio market players that are profiled in the report. Several other essential 3D audio market players were analyzed for a holistic view of the market and its ecosystem. The market report provides detailed market insights to help major players strategize their growth.
- In 2023, at CES 2023, Fraunhofer IIS, the primary developer of the MPEG-H 3D Audio standard, and Amazon Music—the premium audio entertainment service—demonstrated how immersive and authentic 360 Reality Audio music can sound in a vehicle.
- In 2023, NewAuro B.V and WOWOW Inc. announced their collaboration in supporting AURO-3D Technology for satellite/TV broadcasting by launching their first Japanese show in immersive audio for headphones. This established the world’s first commercial use of the AURO-3D headphone technology called Auro-Headphones in broadcast, promising an immersive experience in storytelling and the audible presence of being inside a theater.
- In 2023, Dolby Laboratories, Inc. and Cinépolis announced an agreement to deliver Dolby’s spectacular experiences to more moviegoers across the globe. Cinépolis is committed to installing Dolby’s innovative, industry-leading cinema solutions on all refresh and newly built screens throughout their global circuit. This expanded Dolby and Cinépolis agreement highlights Cinépolis’ commitment to its patrons to bring them the best possible cinema experience available.