Pune, India, Aug. 29, 2022 (GLOBE NEWSWIRE) — The global wireless microphone market size was estimated at 1.66 billion dollars in 2021. The market is projected to grow from 1.72 billion dollars in 2022 until 3.29 billion dollars by 2029, exhibiting a CAGR of 9.7% during the forecast period.
This information is stated by Fortune Business Insightsin its report titled, “Wireless Microphone Market, 2022-2029.”
Key industry developments:
- May 2022: Audio-Technica Ltd. introduced the ATW-3255 3000 Series, a wireless in-ear monitor system intended to be an inexpensive and robust IEM solution that delivers professional sound quality. It features all stages of venues and performers. Additionally, it offers sonic performance and is modeled after Audio-Technica’s 3000 Series UHF wireless microphone system. It further offers the ATH-E40 in-ear monitor headphones with registered two-stage push and pull levers.
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Scope of report:
| Report coverage | The details |
| Forecast period | 2022 to 2029 |
| Forecast period 2022 to 2029 CAGR | 9.7% |
| 2029 Value Projection | 3.29 billion dollars |
| Base year | 2021 |
| Market size in 2021 | 1.66 billion dollars |
| Historical data for | 2018 to 2020 |
| number of pages | 150 |
Impacts of COVID-19:
Supply chain disruptions and industrial plant shutdowns hampered market growth during COVID-19
The COVID-19 pandemic caused numerous problems for global supply networks. Various nationwide blockades remained to impede or even cut off the mobility of raw materials and finished products, hampering production. However, the pandemic did not present new supply chain concerns. It exposed previously undetected vulnerabilities in various industries, and numerous companies have endured labor shortages and injuries due to COVID-19. However, it has accelerated and intensified existing supply chain problems.
Segments:
Strengthening implementation of handheld microphones to drive product demand
Based on type, the market is segmented into handheld, bodypack, and desktop. Among these, the mobile segment captured the highest market share of around 47.7% in 2021. Bodypack Microphones is projected to grow at a notable CAGR of 12.4% during the forecast period.
The stress-free configuration supplies the 2.4 GHz segment
On the basis of frequency, the market is categorized into ultra-high frequency, very high frequency, 2.4 GHz and others Among these, the 2.4 GHz segment is projected to grow at the maximum CAGR of 9.7% during the forecast period.
Due to increased live performance, Sports venues, stadiums, public gatherings and concerts in Sports at Spur Market
By application, the market is categorized into auditoriums, theaters, studios; shopping malls, hotels, restaurants, bars, retail, shopping malls; parking lots, airports, bus stations; educational institutes and universities; offices, conference rooms; sports facilities, stadiums, public gatherings, concerts, stage shows; and others.
Geographically, the market is divided into five main regions, North America, Europe, Asia Pacific, Middle East and Africa and Latin America. They are further categorized into states.
Report coverage:
The report provides valuable insights obtained from the thorough study done by our researchers. An extensive research was conducted to provide the estimated market size. The information used to design the actions for multiple segments at the country, regional and global level was obtained from in-depth interviews with multiple stakeholders. Additionally, we have gained access to several global and regional fee-based databases to provide accurate information to make business investment decisions easy for you.
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Drivers and restrictions:
Reinforcement of advanced microphone advancements to bolster market growth
Increasing advances in technologically progressive microphones across applications such as shopping malls, hotels, conference halls, restaurants, parking lots, offices, bars, large retail, airports, bus stations, educational institutes, universities, sports venues, stadiums, public gatherings , concerts, and stage shows, the demand for products is increasing all over the world.
Decreasing access of raw material to satisfy the demand for microphone manufacturing is restricting the growth of the wireless microphone market. Voice coil, cable and magnets are some of the raw materials used to manufacture these microphones. The lack of these materials can hinder the production process in the market.
Regional insights:
North America will dominate supported by the presence of great music enthusiasts
North America to account for the largest share of the wireless microphone market during the forecast period. North America has the largest music market presence in the world.
Asia Pacific observed a notable growth rate during the forecast period. According to IFPI’s Global Music Report 2019, China was the seventh largest recorded music market and India was present in the top ten, despite having the globe’s two largest populations.
The European market is projected to hold a key share in the global market. The increase is due to the increase in the production capacity of the product in the region.
Competitive Landscape:
Innovative product launch announcement by key players to boost market growth
Prominent players adopt several strategies to strengthen their position in the market as leading companies. One such key strategy is acquiring companies to strengthen brand equity among users. Another essential strategy is the periodic launch of innovative products with a detailed study of the market and its target audience.
Companies covered in Wireless microphone market report
- Harman International (Samsung) (USA)
- Logitech International SA (Blue) (Switzerland)
- Sennheiser Electronic GmbH & Co. KG (Germany)
- Sony Group Corporation (Japan)
- Saramonica (China)
- Shure Incorporated USA)
- Shenzhen Jiayz Photo Industrial., Ltd. (China)
- Audio-Technica Ltd. (Japan)
- Rode Microphones (Australia)
- Samson Technologies Corp. (USA)
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Key points in the TOC:
- presentation
- Definition, by segment
- Research Methodology/Approach
- Data sources
- Executive Summary
- Market Dynamics
- Macro and microeconomic indicators
- Drivers, constraints, opportunities and trends
- Impact of COVID-19
- Short-term impact
- Long-term impact
- The competitive landscape
- Business strategies adopted by major players
- Consolidated SWOT analysis of key players
- Major Global Wireless Microphone Market Insights and Analysis, 2021
- Global Wireless Microphone Market Size Estimates and Forecasts, by Segment, 2018-2029
- Key findings
- By type (USD)
- By frequency (USD)
- Ultra High Frequency (UHF)
- Very High Frequency (VHF)
- 2.4 GHz
- Other (1.9 GHz)
- By Application (USD)
- Auditorium, Theaters, Studios
- Shopping Malls, Hotels, Restaurants, Bars, Wholesale Retail, Malls
- Parking lots, airports, bus stations
- Institutes and Universities of Education
- Office, Conference Hall
- Sports venues, stadiums, public gatherings, concerts, stage shows
- Others
- By region (USD)
- North America
- Latin America
- Europe
- Middle East and Africa
- Asia Pacific
- North America Wireless Microphone Market Size Estimates and Forecasts, by Segment, 2018-2029
- Key findings
- By type (USD)
- By frequency (USD)
- Ultra High Frequency (UHF)
- Very High Frequency (VHF)
- 2.4 GHz
- Other (1.9 GHz)
- By Application (USD)
- Auditorium, Theaters, Studios
- Shopping Malls, Hotels, Restaurants, Bars, Wholesale Retail, Malls
- Parking lots, airports, bus stations
- Institutes and Universities of Education
- Office, Conference Hall
- Sports venues, stadiums, public gatherings, concerts, stage shows
- Others
- By Country (USD)
- Latin America Wireless Microphone Market Size Estimates and Forecasts, by Segment, 2018-2029
TOC Continues…!
- How big it is The wireless microphone market?
The market is projected to grow from USD 1.72 billion in 2022 to USD 3.29 billion by 2029, exhibiting a CAGR of 9.7% during the forecast period.
- What was the value of the global market in 2021?
In 2021, the market was $1.66 billion.
- Who are the best players in the market?
Harman International, Logitech International SA, Sennheiser Electronic GmbH & Co. KG, Sony Group Corporation, Saramonic, Shure Incorporated, Shenzhen Jiayz Photo Industrial., Audio-Technica Ltd, Rode Microphones, Samson Technologies Corp
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