Wireless Microphone Market Share, Size, Trends, Industry Analysis Report, By Type (Handheld, Clip-on); By End-Use (Corporate, Education, Hospitality, Sporting Events); By Technology; By Region; Segment Forecast, 2021 - 2028
- Published Date:Oct-2021
- Pages: 132
- Format: PDF
- Report ID: PM2018
- Base Year: 2020
- Historical Data: 2016 - 2019
Report Outlook
The global wireless microphone market was valued at USD 1.90 billion in 2020 and is expected to grow at a CAGR of 5.2% during the forecast period. A microphone is a physical cable connected directly to the sound recording or a device, which is ultimately connected to the wireless microphone. It is often regarded as a radio microphone. The wireless microphone has a small battery-powered radio transmitter residing within it, transferring an audio signal from the microphone by the radio waves to the connected Receiver unit, amplifying audio.
Know more about this report: request for sample pages
Moreover, a journalist, speaker, recorder, and performer can perform un-restricted, without the use of any cable. The mounting use of wireless microphones in podcasting, broadcasting, public speaking, entertainment, rising online activities, and on-demand video platforms are projected to foster the demand in the market. Moreover, the rise in sports events across the globe has further encouraged the demand for wireless microphones.
Know more about this report: request for sample pages
Industry Dynamics
Growth Drivers
An upsurge in sponsorship in sports and related activities is anticipated to foster the uptake of the wireless microphone market. It is predicted that investments in sports are worth more than 40 billion, thereby inducing growth in the wireless industry. Such products are widely utilized for commentary and announcement purposes. Such investments stimulate market players to develop innovative wireless microphones for the sports avenues, including indoor arenas, auditoriums, stadiums, and playing fields.
Wireless Microphones have varied advantages such as hands-free operations, allowing seamless mobility and ease of use, unlike wired microphones. The use of such microphones in the government-established infrastructure for unified communication has numerous applications, which is estimated to propel the growth of the wireless microphone market.
Report Segmentation
The market is primarily segmented on the basis of type, technology, end-use, and region.
|
By Type |
By Technology |
By End-Use |
By Region |
|
|
|
|
Know more about this report: request for sample pages
Insight by Type
Depending upon the type, the handheld segment is expected to dominate the global wireless microphone market during the forecast period. Handheld devices are utilized across several applications comprising music events, public speaking events, and lectures due to their reliability and lower cost compared to other types.
However, the clip-on segment is expected to witness the highest growth rate over the period. This market growth is primarily due to its lightweight, which allows portability. Moreover, such devices allow users to keep their hands free at public events, such as political rallies, comedy shows, conferences, and other public events.
Insight by Technology
Radio Frequency (RF) band is anticipated to emerge as the fastest-growing technology segment over the projection period. The RF band allows an extensive selection of channels that can be utilized depending on the application. Furthermore, changes in spectrum regulations also permitted wireless microphones to employ RF bands for better signal broadcasting. Moreover, technology has enabled Wi-Fi for signal transmission and multi-channel RF devices to switch frequencies according to the transmission strength, thereby broadcasting more reliable, averting signal loss.
Insight by End-Use
Corporate segment is expected to dominate the market during the forecast period. The increasing need for wireless devices for communication has allowed its use in corporate enterprises. The trend is more often in emerging markets such as the Asia Pacific, where companies are progressively operating at a global level, which requires them to use these wireless products for internal along with external communications.
However, the sporting event is the fastest-growing segment over the forecast period. The development in sports events has poured the demand for wireless products for announcements, commentary, and speech purposes, among others. For example, the International Olympic Committee (IOC) has added a few newer sports scheduled to be organized in Tokyo in 2020, which was postponed due to the COVID-19 outbreak.
Geographic Overview
Based on geographically, APAC is the fastest revenue contributor in the global wireless market, owing to the growth in the media houses and sports-related events. Moreover, the growing trend of video logging in concerned countries and adoption of radio-frequency enabled wireless products and services for effective sound recording.
However, North America is the largest regional market, primarily due to products announced by players initially being used in the local regions, allowing the market to hold maximum share. Moreover, the high popularity of music concerts, sports tournaments, and broadcasting studios are driving the market’s growth.
Europe is anticipated to register a moderate growth rate over the study period. European Commission’s spectrum policy also supports the expansion of wireless technologies in the countries within the market. In line with this, in 2018, the European council implemented an EU communication code, under which new rules for spectrum management and better synchronization. The above-mentioned factors are set to favor the region’s growth.
Competitive Landscape
Major Players operating the global market include AKG Acoustics, Audio-Technica, Baltic Latvian Universal Electronics, LLC, Harman International Industries, inMusic Brands, LEWITT GmbH, Logitech, Inc., RØDE Microphones, Samson Technologies Corp., Saramonic, Sennheiser electronic GmbH & Co. KG, Shure Asia Limited, Sony Corporation, and Yamaha Corporation.
Wireless Microphone Market Report Scope
|
Report Attributes |
Details |
|
Market size value in 2020 |
USD 1.90 billion |
|
Revenue forecast in 2028 |
USD 2.56 billion |
|
CAGR |
5.2% from 2021 - 2028 |
|
Base year |
2020 |
|
Historical data |
2016 - 2019 |
|
Forecast period |
2021 - 2028 |
|
Quantitative units |
Revenue in USD billion and CAGR from 2021 to 2028 |
|
Segments covered |
By Type, By Technology, By End-Use, By Region |
|
Regional scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
|
Key Companies |
AKG Acoustics, Audio-Technica, Baltic Latvian Universal Electronics, LLC, Harman International Industries, inMusic Brands, LEWITT GmbH, Logitech, Inc., RØDE Microphones, Samson Technologies Corp., Saramonic, Sennheiser electronic GmbH & Co. KG, Shure Asia Limited, Sony Corporation, and Yamaha Corporation |
