ID: MRFR/SEM/3171-HCR | February 2021 | Region: Global | 100 pages
Wireless Microphone Market Overview:
The global wireless microphone market is witnessing a rise at a CAGR of 8.44% for the period between 2017 to 2023. Owing to the entertainment and media industry majorly, the market is taking over new leaps now and then. In the global market, there is a consistent demand for the products of this niche and that market has not been affected much in the recent developments of the world business scenario. Multiple industry verticals make use of the facilities of the wireless microphone.
As the name suggests, the microphone which does not require a cable or cord to connect with the receiver or amplifier device is a wireless microphone. In general terms, it is a small battery-powered device, which transmits audio waves to the receiver through a small radio transmitter that stays inside it. The global microphone industry is heavily reliant on the broadcasting and media production market, public service sectors, sporting, and other entertainment events, etc. Wireless microphones are a better, efficient, and flexible alternative to the traditional microphones in the market.
The impact of the COVID-19 pandemic has a multi-faceted effect on the lives of people. Most of the major countries and thriving economies have faced dire losses and slower growth in the last year. Since the pandemic has emerged in the market, it has become extremely difficult for the wireless microphone system manufacturers to carry on production amidst the lockdowns. Due to lockdowns, the economies of several countries have taken a terrible shape in the post-pandemic years. Investments have been reduced to multiple core industries, which unquestionably have contributed to the lowering of the wireless microphone business.
Although, in the lockdown period, major public administration and authorities have chosen the path to aware people through audio communication in the streets. Patrolling Cops have been regularly seen in the streets providing important information to the people from a safe distance. These public service initiatives have included increased use of wireless microphones.
Wireless Microphone Market Dynamics:
A popular market for wireless microphones is the live event industry all over the world. Various stage shows, concerts, live performances, sporting events, etc are the biggest market pusher for wireless microphones. The event management industry is one of the fastest-growing businesses in the world. Not only the market is expanding fast, but it is generating a lot of employment and revenue for subsidiary industries as well. The wireless microphone market growth highly depends on the growing event management business. Especially the live events are a key contributor in the industry. The live events have an immense global popularity, which is growing with time.
Also, a significant market stimulus is the live recording and broadcasting segments. Everywhere in the world, there grows the importance of the live programs because it is engaging to a lot of audiences. Typically, a live show on the television, radio, or internet fetches almost twice more an audience than the recorded shows. The microphone market is getting full advantage of these trends.
Highspeed low-cost internet facilities, wi-fi, and other enabling factors are encouraging audiences to turn towards digital more and more. The video-on-demand phenomenon has been a steady audience multiplier for the streaming platforms. Dedicated music studio shows, exclusive events, are generating maximum revenues off the online market. USB wireless microphone, computerized receiving systems, etc are going to win a lot of acceptance from the content creators in the online media.
A notable complaint from the consumer-ends is that there is a gap between noise sensitivity, battery consumption, and noise levels in the presently available microphones. These kinds of issues can damage the reputation of the brands in futuristic market conditions. The microphone market growth gets affected by these factors. Consumers expect satisfactory experiences from the products they use. It is a challenge in front of the market also to cope up with the shortcomings as well.
To cope up with the threat, the manufacturers have to work on the shortcomings of the devices. Wireless headphones are popular with microphones because of their compatibility with digital and indoor smart devices. The increasing number of indoors-man is a critical point to evaluate for the market expert.
For instance, the internet-based video-on-demand segment is growing at a CAGR of 7% for the forecast period of 2021-2026. It is considered one of the fastest-growing industries to reach a market valuation of USD 88 billion for the forecast period. The wireless microphone market trends suggest tremendous growth opportunities for the market in the future.
Wireless Microphone Market Segment Overview:
Based on multiple parameters, the global wireless microphone market size can be segmented into various sub-segments. The key considerations are the technology (frequency type channel type, etc), product type, region, etc.
Wireless Microphone Market Segment based on technology:
Wireless Microphone Market Segment based on the type of products:
Wireless Microphone Market Segment based on applications:
Wireless Microphone Market Segments based on region:
Wireless Microphone Market Regional Analysis:
The global wireless microphone market analysis states that the global market is regionally segmented between three major regions, i.e., North America, Europe, Asia Pacific (APAC), etc. Regionally, the North American region holds the largest market share in the world. The APAC region is amongst the fastest-growing markets.
Wireless Microphone Market Competitive Landscape:
The major key players in the market are:
Wireless Microphone Market Recent Developments:
Wireless Microphone Market Report Overview:
The wireless microphone market report includes a detailed analysis of the market size, share, growth rate, opportunities, etc.
Wireless Microphone Market Report Period:
Wireless Microphone Market Report Demography:
Frequently Asked Questions (FAQ) :
The global wireless microphone market is predicted to grow at an 8.44% CAGR between 2017- 2023.
The global wireless microphone market is predicted to reach USD 3.63 billion by 2023.
North America will lead the global wireless microphone market.
Growing adoption of technology and booming entertainment industry are the key factors driving the global wireless microphone market growth.
Key contenders profiled in the global wireless microphone market include Shure Incorporated (U.S.), Sennheiser electronic GmbH & Co. KG (Germany), Sony Electronics, Inc. (U.S.), Audio-Technica Corporation (Japan), Yamaha Corporation (Japan), LEWITT GmbH (Austria), Samson Technologies Inc. (U.S.), Rode Microphones (Australia), AKG Acoustics (Austria), Blue Microphones (U.S.) and inMusic Brands, Inc. (U.S.) among others.