Global Wireless Microphone Market is estimated to reach US$ 3.2 Bn. by 2027, growing at a CAGR of 5.35% during forecast period of 2020 to 2027.
A wireless microphone is a versatile device that broadcast sounds by converting sound waves into an electrical signal. It uses radio transmitter/ Wi-Fi networks or Bluetooth for communication and connectivity between receivers and transmitters, so that the user can move liberally and hand free. Wireless microphones are obtainable in numerous shapes and sizes, and offers, high mobility, high voice clarity and comfort as compared to wired microphones.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
The report comprises of worldwide Wireless Microphone Market in terms of revenue from various segments and detailed evaluation of the trends and factors that are playing substantial role in the market. These factors involve the drivers, restraints, opportunities and challenges for the key companies and stakeholders in the industry.
The market for wireless microphones is considerably driven by intense investments in R&D for wireless increasing acceptance for smartphones and other portable devices also, increasing demand in training & online education and growing use of wireless microphones in commercial areas such as call centers, events, shows and others wed chat services are driving the market growth. Furthermore, Wireless microphones have several advantages and are used over Wire microphones because of flexibility, unrestricted movement, hands-free operation. Additionally, increasing internet of things (IOT), rapid advancements in technology and ease of accessibility is further expected to propel market growth at a significant rate. Also, Increasing demand in various sports events such as World Cup, Olympics etc. is another dynamic factor further growing the market.
However, since these devices work on battery and frequency long-distance and longtime use can cause an adverse effect and disable hearing ability hence, hinder the growth further, availability of 7A quality product hamper the market growth. Also, certain barriers such as stringent regulations, high cost related and battery efficiency problem are few many factors estimated to restrain the market growth.
Opportunities and trends:
• The existing trend witnessed in the market is increasing demand for smart watches, flexible wearable, and flexible displays, are another factor predictable to further support the growth of the market. Growing acceptance in smart applications for flexible electronics is likely to present the rewarding business opportunity to main companies and vendors in the market globally over the next 10 years.
• The volatile growth of smartphones and other wireless devices have negative hamper on the spectrum allocation subsequent resulting in the short of the same, leading to certain interference and intervention in the signals disturbing connection faults.
With the sustainable growth of IOT devices, the 2.4GHz spectrum is also set to witness prominent shortage which can negatively impact the wireless microphone market growth during 2020-2027 .
Global Wireless Microphone Market: Market Segmentation:
The report covers competitive analysis of the Wireless Microphone Market in each of the geographical segments thereby providing insight into a market share at the macro as well as micro levels.
On the basis of product type, the handheld segment is leading the global wireless microphones market in 2019, with more than 50% of the revenue over the market share of 38.5%. As per statistics, U.S generated US$ 380 Mn alone, in 2016. The handheld segment is dominated by the increasing demand of these devices in conferences, public speaking events, music events and lectures etc. furthermore, unrestricted movement, Low cost, setup flexibility, and reliability are the other factors maintaining its dominance.
In terms of End- User, Corporate is the largest segment and valued to be USD 693.3 million. The increasing requirement of wireless Microphone device has empowered its usage in corporate enterprises for communication purposes. This trend is growing to increase in developing regions like the Asia Pacific and Latin America where companies use wireless Microphone device for internal as well as external communications and are increasingly operating on a global level.
Global Wireless Microphone Market: Regional analysis
North America’s Wireless Microphone Market was valued at US$ 750 Mn in 2019 and is expected to reach a value of US$ 2215 Mn by 2027, with a CAGR of 17.2%. North America is the largest market and accounted to dominate the market with nearly 40% share in terms of Wireless operator/subscriber where T-Mobile, Verizon, and Sprint are major operators in the U.S, because of the growing industry, rapid acceptance of technologies, well-established infrastructure for media & entertainment sector and educational various application of Wireless Microphone raise the demand also, presence of prominent key player takes a major role in Wireless Microphone Market growth.
However, Asia is projected to have the highest CAGR of 8.4% during the forecast because of the growing acceptance of advance technology and growing vendors in countries like China & Japan is expected to emerge over the forecast.
Competitive Analysis: Global Wireless Microphone Market:
These market players in the Wireless Microphone Market have implemented various strategies such as acquisition, joint ventures, collaborations, expansions Product launches and other crucial aspects to lessen the competition in the competitive landscape
Some of the key players in wireless microphone market share include Sennheiser Electronic Gmbh Co, Samson Technology Corp, Audio-Technica Corporation, Sony Corporation, and so on.
Key Developments in the Market: Acquisitions & Product Launches
• In July 2018, for entry into the high fidelity audio equipment market, Logitech proclaimed the acquisition of Blue Microphone.
• In February 2018, for cutting edge digital RF equipment technology, Sound Devices, LLC took over Audio Ltd., a UK-based manufacturer company.
• In September 2019, Saramonic, launched Saramonic Blink 500 system, a 2.4GHz wireless clip-on lavalier microphone system
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Scope of the Global Wireless Microphone Market:
Global Wireless Microphone Market, By Type
Global Wireless Microphone Market, By Technology
• Wi-Fi Band
• Radio Frequency Channel
• Radio Frequency Band
540 MHz- 680 MHz
721 MHz- 750 MHz
823 MHz- 865 MHz
Global Wireless Microphone Market, By Application
Global Wireless Microphone Market, By End user
• Corporate usage
• Sporting Events
Global Wireless Microphone Market, By Region
• North America
• Asia Pacific
• Middle East and Africa
• Latin America
Global Wireless Microphone Market, key Players
• Sennheiser Electronic
• Koninklijke Philips
• Harman International Industries
• VOXX International
• Blue Microphones
• AAC Technologies Holdings Inc. (China)
• Robert Bosch GmbH (Germany)
• BSE (South Korea)
• Cirrus Logic Inc. (U.S.)
• Goertek (China)
• Hosiden Corporation (Japan)
• InvenSense, Inc. (U.S.)
• Knowles Corporation (U.S.)
• STMicroelectronics N.V. (Switzerland)
• Shandong Gettop Acoustic Co. Ltd. (China)
• Shure Incorporated
• Rode Microphones
• InMusic Brands
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