Market Synopsis of Global Wireless Microphone Market
A wireless microphone uses a wireless receiver/transmitter and connects via Wi-Fi networks, Bluetooth, and radio frequencies, thereby eliminating cables. The global wireless microphone market is expected to reach approximately USD 3.63 billion by the end of 2023 with 8.44% CAGR during forecast period 2017-2023.
Market Dynamics of Global Wireless Microphone Market
- Growing adoption of technology
- Growing consumer electronics market and availability of credit
- Growing media, booming entertainment industry and sports events
- Comfort associated with freedom of movement and hands
- Avoidance of cabling wear and tear caused by constant stressing the cables
- Reduction of trip hazards during performance
- Growing number of public events such as conferences and corporate events
- Falling profit margins and fragmentation of market
- Large inventory and technological obsolescence which increases operating costs
- Restrictions in 600 MHz frequency band due to regulations
- Possible interference from analogue FM systems, microwave and other devices
Key players in the global wireless microphone market
Shure Incorporated (U.S.), Sennheiser electronic GmbH & Co. KG (Germany), Sony Electronics, Inc. (U.S.), Audio-Technica Corporation (Japan), Yamaha Corporation (Japan), LEWITT GmbH (Austria), Samson Technologies Inc. (U.S.), Rode Microphones (Australia), AKG Acoustics (Austria), Blue Microphones (U.S.) and inMusic Brands, Inc. (U.S.) among others.
Current industry trend
- Growing market share and CAGR of digital receivers which uses uninterrupted signal such as WiFi over the analog which uses radio frequency prone to interference
- Miniaturisation and aesthetic appealing products
- Growing demand of multi-channel and multi-unit products which allows to switch frequencies according to the transmission strength
- Shift towards larger bandwidth signalling system
- Demand for products with better battery and larger range
- Increase in use of frequency bands such as 721 MHz - 750 MHz for RF signal transmission applications.
- Growing demand for products capable of being integrated with other systems
- Development of sound analytics software’s and noise cancellation technology
- Un-licensed spectrum is an added attraction
- Product development such as rechargeable battery options and charging stations
Regional analysis of global wireless microphone market
Geographically, the market is segmented into North America, Europe, Asia Pacific and rest of the world. The regional segment is further bifurcated into U.S., Canada, Mexico, UK, France, Germany, China, Japan and India.
Regionally, North America accounted for the largest market share which is dominated by the U.S. due to the presence of leading industry participants such as Shure Incorporated (U.S.), Sony Electronics, Inc. (U.S.), Samson Technologies Inc. (U.S.), Blue Microphones (U.S.) and inMusic Brands, Inc. (U.S.). Europe accounts for the second largest market followed by Asia Pacific. Asia Pacific is expected to be the fastest growing market over the forecast period, 2017-2023. Asia Pacific market is expected to be led by China and India due to growing demand from unmet needs. The Middle East and Africa is expected to yield moderate growth due to poor economic conditions and low per capita income. Thus market development in the Middle East and Africa market must take into consideration cost of the final product. First comer advantage is important as the volume of the African market is low which benefits an established player.
Segments of global wireless microphone market
For the purpose of this study, Market Research Future has segmented the market of wireless microphone into technology, product type, application and region.
Technology - Wi-Fi Band (4 GHz, 6 GHz, 5 GHz), Radio Frequency Channel (Single Channel, Dual Channel, Multi-Channel), Radio Frequency Band (540 MHz - 680 MHz, 721 MHz - 750 MHz, 823 MHz - 865 MHz)
Product type - Handheld, Head worn, Clipper, Other
Applications - Corporate Usage, Entertainment, Education, Hospitality, Events, Military/Defence, Others