Discussion System Market Size Worth $972.60 Mn, Globally, by 2028 at 6.5% CAGR - Exclusive Report by The Insight Partners

The discussion system market size is expected to grow from $625.39 million in 2021 to $972.60 million by 2028. It is estimated to grow at a CAGR of 6.5% during 2021–2028.

New York, March 17, 2022 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on “Discussion System Market Forecast to 2028 – COVID-19 Impact and Global Analysis – Type (Wired and Wireless) and Application (Meeting Rooms, Press Centers, Classrooms, and Others)”, the global discussion system market growth is driven by the rising investment in digitizing the workspace, complex large-scale operations, high operational costs, the prevailing trend of real-time work, and fast adoption of advanced solutions.

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Report Coverage Details
Market Size Value in US$ 625.39 million in 2021
Market Size Value by US$ 972.60 million by 2028
Growth rate CAGR of 6.5% from 2021 to 2028.
Forecast Period 2021- 2028
Base Year 2021
No. of Pages 145
No. Tables 61
No. of Charts & Figures 72
Historical data available Yes
Segments covered Type and Application
Regional scope North America; Europe; Asia Pacific; Latin America; MEA
Country scope US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Discussion System Market: Competitive Landscape and Key Developments
Audio Technica U.S, Inc.; AUDIX, Beyerdynamic GmbH & Co. KG, Bosch Sicherheitssysteme GmbH, Brähler Systems GmbH, Sennheiser electronic GmbH & Co. KG, Shure Europe, TAIDEN INDUSTRIAL CO., LTD.; Televic, and TOA Electronics, Inc. are among the key players profiled during this market study. In addition, several other essential discussion system market players were studied and analyzed to get a holistic view of the market and its ecosystem.

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In 2022, NBC Sports has selected Audio-Technica to provide microphones, headphones, and broadcast headsets for its production in Olympic Winter Games in China. The announcement was made by Karl Malone, Director, Sound Design, NBC Sports & Olympics, and Manabu Aoki, President, and CEO of Audio-Technica U.S.

In 2022, Sennheiser, the first choice for advanced audio technology that makes collaboration and learning easier, is an intelligent speaker Certified for Microsoft Teams, the TeamConnect Intelligent Speaker. The TeamConnect Intelligent Speaker, Sennheiser, is delivering a solution to support smart, focused, and inclusive meetings for up to 10 people, whether participants join remotely or are in the room.

The global discussion system market is segmented into North America, Asia Pacific, Europe, the Middle East & Africa, and South America. The discussion system market in Asia Pacific is segmented into China, India, Vietnam, Japan, Thailand, and the Rest of Asia Pacific. Asia Pacific is characterized by vast industrialization, huge population, and emerging economies, such as China, India, South Korea, Vietnam, and others.

Currently, the region is experiencing an increasing FDI across the region, and several western companies are significantly investing in setting up their operations centers. Further, with rising GDP across the region, governments are inclined toward supporting advanced communication systems at government institutions. Moreover, the education industry is currently witnessing significant growth, and education institutions are actively investing in adopting advanced communication technologies. Several marketing initiatives were observed due to these factors in the discussion system market.

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The discussion system market in the Middle East & Africa (MEA) is spread across South Africa, Saudi Arabia, UAE, and the Rest of the MEA. The region characterized by presence of oil rich economies, presence of young population, steady growth rate of economy across region. The Middle Eastern countries economically and technologically advanced while the African countries are yet to be at par with Middle Eastern countries. The Middle East countries such as the Saudi Arabia, the UAE, and Qatar, have become tourism hub and several luxurious hotels chains have a robust presence in the region. These hotels are known for conducting several corporate and non-corporate conferences owing to which the adoption of rate of advanced communication technologies including discussion system is on the higher side. Meanwhile, the region is known for conducting several trades such as Automechanika Riyadh, Cybertech Global Tel Aviv, HORECA Lebanon, THE BIG5 SAUDI, DUBAI WOODSHOW, GISEC Global, aluexpo, HOMETEX, and other which is among another factor contributing to the growth of the discussion system market. Meanwhile, the growing to commercial restate in African countries and advancement of African government institution is anticipated to create growth opportunities for discussion system market players.

For instance, In April 2020, Televic Conference announced that it appointed Audiobrains as its Exclusive Distributor for Japan. In May 2020, the company announced that it appointed Alphatec as its Exclusive Distributor for India. In November 2020, VISSONIC Electronics Ltd. revealed that it deployed its Wireless Conference System, including a discussion system at Vietnam Haiyang coal-fired power plant project. In August 2021, VISSONIC Electronics Ltd. announced that it deployed its Wireless Conference System, including discussion systems, at China Pacific Insurance (Group) Co., Ltd. in China. In April 2020, TOA Electronics Vietnam Co., Ltd. announced the launch of the TS-D1000 series Digital Conference System, a new generation stand-alone digital conference system.

In recent years, institutional audio requirements have shifted, particularly instruction, presentation, and conversation. Collaboration, team-based management, multi-site meetings, and increased dependence on multimedia are all on the rise. As a result, "many-to-many" communication is becoming increasingly common, displacing traditional "one-to-many" presentations.

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Discussion System Market: Type Overview
Based on type, the discussion system market is segmented as wired and wireless. Wired discussion systems are preferred because of the ease of use and simplicity of a wired connection. Users do not need to worry about frequency selection or battery life in a wired discussion system. Troubleshooting a microphone problem during a meeting or lecture is simple because fewer things can go wrong. It can be fixed right away with a new XLR cable or a signal path inspection. As a result, wired discussion systems are increasingly extensively used and preferred.

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