Rising Penetration of Wireless Devices Market Worldwide to Boost the Demand for Wireless Microphone
The wireless microphone market worldwide is expected to riserise with a CAGR of 5.4% during the forecast period from 2019 to 2027, starting from US$ 1.90 Bn in 2018. The proliferation of wireless devices and technology gradation of electronic devices is the major factor in the growth of the wireless microphone market. Furthermore, the rising online training market, growing no. of sports events, and continued increase in the media & entertainment industry are other factors for market growth. In addition, wireless microphones have numerous benefits over wired microphones, such as no movement restriction, ease of use, hands-free operations, and others, boosting the market demand. As a result, we expect that the wireless microphone market will show substantial growth in the years to come.
Market Synopsis
Radio Frequency Segment to Continue its Dominance
The radio frequency segment led the global wireless microphone market in 2018. The radiofrequency segment contributed over 1/2 of the market revenue share in the same year. Changing spectrum regulations, efficient signal broadcasting, and other factors are the major factors for the dominance of the segment. Radiofrequency has various benefits, such as switching frequencies, preventing signal loss, more reliability, and others, which are helping the segment to grow. In addition, the use of 721 MHz to 750 MHz frequency bands for signal transmission has increased due to enforce regulations on using 600 MHz bands. Further, the aforementioned shift is also helping the market to grow. As a result, we expect the radio frequency segment to continue its dominance throughout 2019-2027.
The Asia Pacific to be the Fastest Growing Region
North America was the highest value contributor in the global wireless microphone market, shadowed by Europe and the Asia Pacific, respectively, in 2018. North America contributes around 35% of the global revenue in the same year. North America has dominance owing to the early adoption of technology and established industries. On the other hand, Asia Pacific will be the fastest growing region due to the rising smart devices market and increasing media & entertainment industry. In addition, developing economies of the Asia Pacific, such as China and India, will be the major contributor to the growth of the wireless microphone market. Consequently, we assume the Asia Pacific will be the fastest-growing region throughout the forecast period.
Some of the prominent players operating in the wireless microphone market 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.
Historical & Forecast Period
This research report presents the analysis of each segment from 2017 to 2027, considering 2018 as the base year for the research. In addition, compounded Annual Growth Rate (CAGR) for each respective segment was calculated for the forecast period from 2019 to 2027.
Report Scope by Segments
The wireless microphone market report provides market size and estimates based on market dynamics and key trends observed in the industry. In addition, the report provides a holistic view of the global wireless microphone market based on product type, technology, end-user, and geography.
Frequently Asked Questions:
The market for Wireless Microphone is expected to reach US$ 1.90 Bn in 2027.
The Wireless Microphone market is expected to see significant CAGR growth over the coming years, at 5.4%.
The report is forecasted from 2019-2027.
The base year of this report is 2021.
Audio-Technica Corporation, LEWITT GmbH, Røde Microphones, LLC, Samson Technologies Inc., Sennheiser Electronic GmbH & Co., Koninklijke Philips N.V., Shure Incorporated are some of the major players in the global market.
