Pune, India, May 24, 2023 (GLOBE NEWSWIRE) -- According to Fortune Business Insights, global wireless microphone market size was valued at USD 1.72 billion in 2022 and is projected to grow from USD 1.83 billion in 2023 to USD 3.71 billion by 2030, exhibiting a CAGR of 10.6% during the forecast period. Amplifying Progressions of Advanced Wireless Microphones to Augur Growth. Fortune Business Insights, provide this information in its report titled, Global Wireless Microphone Market Forecast, 2023-2030.
A microphone caters to the demands of vloggers, short video creators, and others. It can be used directly without any requirement of additional hardware and software. Moreover, it can be used for online conferences, live streaming of games, recordings vlogs, and music recordings among several other uses.
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Key Industry Development:
October 2022: Panasonic Connect launched an addition to its next generation of wireless audio microphones and receivers. This provides crisp audio and connectivity options for added flexibility. This software integration enables Panasonic wireless microphones to activate presets across a suite of Panasonic PTZ cameras.
Key Takeaways
- Wireless microphone market size in North America was USD 0.55 Billion in 2022
- Audio-Technica Ltd. Launches ATW-3255 3000 Series to Display Impressive Growth
- Bolstering Implementation of Handheld Microphones to Thrust the Product Demand
- The sports venue segment is expected to hold a major market share during the projected period
Discover the Leading Players Featured in the Report:
“Companies leading the global wireless microphone market are Harman International (Samsung) (U.S.), Logitech International S.A. (Blue) (Switzerland), Sennheiser Electronic GmbH & Co. KG (Germany), Sony Group Corporation (Japan), Saramonic (China), Shure Incorporated U.S.), Shenzhen Jiayz Photo Industrial., Ltd (China), Audio-Technica Ltd. (Japan), Rode Microphones (Australia), Samson Technologies Corp. (U.S.)”
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 10.6% |
| 2030 Value Projection | USD 3.71 Billion |
| Base Year | 2022 |
| Wireless Microphone Market Size in 2022 | USD 1.13 Billion |
| Historical Data for | 2019 to 2021 |
| No. of Pages | 150 |
| Segments covered | Type, Frequency, Application and Geography |
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Drivers and Restraints:
Amplifying Progressions of Advanced Microphones to Bolster Market Growth
Increasing advancements of technologically progressive microphones across applications, such as shopping malls, hotels, conferences rooms, restaurants, parking lots, offices, bars, large retail, airports, bus stations, education institutes, universities, sports venues, stadiums, public gatherings, concerts, and stage shows, across the world are growing the product demand.
Decreased raw material accessibility to satisfy microphone production demand is constraining the wireless microphone market growth. Voice coil, cable, and magnets are a few of the raw materials used for manufacturing these microphones. Scarcity of these materials might hinder the manufacturing process in the market.
Segmentation:
By Type
- Handheld
- Bodypack
- Tabletop
By Frequency
- Ultra-high Frequency (UHF)
- Very High Frequency (VHF)
- 2.4 GHz
- Others (1.9 GHz)
By Application
- Auditorium, Theaters, Studios
- Shopping Malls, Hotels, Restaurants, Bars, Large Retails, Malls
- Parking Lots, Airports, Bus Stations
- Education Institutes and Universities
- Offices, Conferences Rooms
- Sports Venues, Stadium, Public Gatherings, Concerts, Stage Shows
- Others
By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
Regional Insights:
North America to Dominate Backed by Presence of Vast Music Enthusiasts
North America to attain the largest wireless microphone market share during the forecast period. North America has presence of the world’s largest music market.
Asia Pacific observed a notable growth rate during the forecast period. According to IFPI’s Global Music Report 2019, China was the seventh biggest music recording market, and India was present in the top ten, regardless of having the globe’s two biggest populations.
The Europe market is anticipated to hold a key share in the global market. The growth is owing to the region's surging manufacturing competency of the product.
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Competitive Landscape:
Innovative Product Launch Announcement by Key Players to Bolster Market Growth
The prominent players adopt several strategies to bolster their position in the market as leading companies. One such key strategy is acquiring companies to bolster the brand value among users. Another essential strategy is periodically launching innovative products with a detailed study of the market and its target audience. In May 2022, a wireless in-ear monitor system called ATW-3255 3000 Series, was launched by Audio-Technica Ltd. It is aimed toward designing durable IEM solution able to deliver professional sound quality at affordable price.
FAQs
How big is the wireless microphone market?
Wireless microphone market size was USD 1.72 billion in 2022. It is expected to reach USD 3.71 billion by 2030.
How fast is the wireless microphone market growing?
The wireless microphone market will exhibit a CAGR of 10.6% during the forecast period, 2023-2030.
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