According to a new market research report published by Credence Research “Wireless Microphone Market – Growth, Future Prospects, and Competitive Analysis, 2019 – 2027”, the global market for wireless microphone was valued at US$ 1.90 billion in 2018 and is set to grow at 5.4 percent CAGR during the forecast period 2019 to 2027.
Rising wireless devices worldwide penetration and the growing global event industry are key drivers for the growth of the wireless microphone market. The global event industry is valued at around 1.05 Tn in 2018 and will continue to grow at a CAGR of almost 9.5 percent in the coming years. Increasing penetration of online education & training, rising sports events and the growth of the media & entertainment industry are also boosting the growth of the wireless microphone market. Wireless microphones have various advantages over wired microphones, such as unrestricted movement, clean machine, setup flexibility, hands-free operation, and others. Furthermore, the demand for wireless microphones is growing due to the above-mentioned benefits. The growing use of wireless microphones in government infrastructure is also boosting the market growth. We, therefore, expect the market for wireless microphones to show significant growth during the forecast period.
Browse Full Report Originally Published by Credence Research at https://www.credenceresearch.com/report/wireless-microphone-market
Based on the product type, the global market for wireless microphones is led by the handheld segment in 2018, contributing more than 50% of the market share of revenue in the same year. The handheld segment is dominated by the penetration of these devices in music events, lectures, conferences, public speaking events, etc. Low cost, flexibility, and reliability are the other factors behind its dominance. On the other hand, the clip-on segment will show the fastest growth in the coming years. Lightweight, portability, hands-free devices and other benefits of clip-on microphones are key growth drivers for the segment. As a result, we expect the clip-on segment to be the fastest-growing segment in the forecast period.
Geographically, North America was the market leader in the wireless microphone market in 2018, followed by Europe and the Asia Pacific. North America contributed nearly 35% of the market share of revenue in the same year. North America is dominated by the growing event industry, the early adoption of technology, the established media & entertainment industry and the presence of major market players (such as Sennheiser Electronics GmbH & Co., Samson Technologies Inc., and others) in the region. On the other hand, we expect the Asia Pacific to be the fastest-growing region in the forecast period. Growing media and entertainment industries, increasing the adoption of smart devices and increasing the use of wireless microphones in various industries such as education, sports, hospitality, and others. As a result, we expect the Asia Pacific to be the fastest-growing region in the forecast period.
Major market players are developing new approaches, such as product launches, to increase their market presence. For example, in June 2019, Audio-Technica Corporation launched a new line of multi-version microphone systems. These microphones are interchangeable and come with three polar patterns, four-module options and six different lengths of the gooseneck. The microphones come with a full range, natural sound, desk stand, all microphone housing features, and flush-mount power modules.
Some of the major companies profiled in the report include Audio-Technica Corporation, LEWITT GmbH, Røde Microphones, LLC, Samson Technologies Inc., Sennheiser Electronic GmbH & Co., Koninklijke Philips N.V., Shure Incorporated, Sony Electronics, Inc., Yamaha Corporation, Harman International Industries, Inc., MIPRO Electronics Co., Ltd., and others.
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By Product Type
• Others (Headset, Lavalier, etc.)
By Technology Type
• Wi-Fi Band
• Radio Frequency
By End-use Type
• Education & Training
• Media & Entertainment
• Others (Sporting Events, Hospitality, etc.)
By Geography Segment
• North America (the U.S., Rest of North America)
• Europe (U.K., Germany, France, Rest of Europe)
• Asia Pacific (China, Japan, India, Rest of Asia Pacific)
• Rest of the World (the Middle East & Africa, Latin America)
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Key questions answered in this report
- What was the market size of a wireless microphone in 2018 and forecast up to 2027?
- Which is the largest regional market by revenue for wireless microphones?
- What are the major trends followed in overall wireless microphones across different regions?
- What are the key market trends and high-growth opportunities observed in the wireless microphone market?
- What are the drivers of the wireless microphone market?
- Who are the key wireless microphone companies leading the market?
- What are the key strategies adopted by the leading wireless microphone companies in the market?