Wireless Microphone Market To Reach US$ 2.89 Bn By 2027

According to a new market research report published by Brisk Insights “Wireless Microphone Market ((By Product Type – Handheld, Clip-on and Others (Headset, Lavalier, etc.)), (By Technology- Wi-Fi Band and Radio Frequency), (By End-use – Corporate, Education & Training, Media & Entertainment and Others (Sporting Events, Hospitality, etc.),  (By Geography (North America, Europe, Asia Pacific and Rest of World (RoW)) Market – Growth, Future Prospects and Competitive Analysis, 2019 - 2027”, the overall wireless microphone market worldwide was valued at US$ 1.90 Bn in 2018 and is set to grow with 5.4% CAGR during the forecast period.

Market Insights

Rising wireless devices penetration worldwide and growing global events industry are the key drivers for the growth of the wireless microphone market. The global events industry is valued at around 1.05 Tn in 2018 and will continue its growth at a CAGR of nearly 9.5% in years to come. Increasing penetration of online education & training, rising sports events and growth of media & entertainment industry are also giving a boost to the wireless microphone market growth. Wireless microphones have various benefits over wired microphones such as move without restriction, clean machine, flexibility in setup, hands free operation and others. Further, due to aforementioned benefits the demand for wireless microphones are growing. Growing use of wireless microphones in government infrastructure is also enhancing the market growth. Therefore, we expect that the wireless microphone market will show significant growth during the forecast period.

Based on product type, the global wireless microphone market is led by handheld segment in 2018, contributing for more than 50% of the market revenue share in the same year. Handheld segment has its dominance due to penetration of these devices in the music events, lectures, conferences, public speaking events etc. Low cost, flexible and reliability are the other factors for its dominance.  On the other hand, the clip-on segment will show fastest growth in years to come. Light weight, portability, hands free devices and other benefits of clip-on microphones are the major growth driving factor for the segment. As a consequence, we expect that the clip-on segment will be the fastest developing segment throughout the forecast period.

Based on the geography, in 2018, North America was the market leader in the wireless microphone market followed by Europe and Asia Pacific. North America contributes to nearly 35% of the market revenue share in the same year. North America has its dominance owing to rising events industry, early adoption of technology, 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 flip, we expect that the Asia Pacific will be the fastest growing region during the forecast period. Growing media and entertainment industry, rising adoption of smart devices and increasing use of wireless microphones in various industries such as education, sports, hospitality and others. Hence, we expect that Asia Pacific will be the fastest growing region throughout the forecast period.

Major market players are developing new approaches such as product launch to increase their market presence. For instance, in June 2019, Audio-Technica Corporation launched new line of microphone systems with numerous versions. These microphones are interchangeable with each other and comes with three polar patterns, four module options and six dissimilar gooseneck lengths. The microphones comes with full range, natural sound, desk stand, all mic 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.

Browse the full report at https://www.briskinsights.com/report/wireless-microphone-market

The Global Wireless Microphone Market is Segmented into:

*Complete segmentation list is on report page