Wireless microphone market size is forecast to surpass $2.9 billion by 2025, growing at CAGR 5.35% during 2020-2025 owing to the increasing adoption of wireless microphones in the education sector. The shift to cordless microphones with radio transmitter from the conventional wired type due to connectivity advantages and competitive price wireless devices w.r.t the wires ones is also set to drive the wireless microphone adoption during 2020-2025.
The education wireless microphone market
is estimated grow in excess of 6% during 2020-2025. The growing demand for Massive Online Open Courses (MOOC) in the past couple of years has been analyzed to be one the major factors assisting the market growth as microphones are used by the course providers for recording video and audio course contents.
Key Takeaways- Wireless Microphone Market Industry Analysis
- Clip-on wireless microphone market to experience significant growth owing to the rising demand from entertainment, sporting event and education sector
- 2.4GHz and UHF wireless microphones to witness highest growth owing to lower losses and less interference with uncompromised performance
- North America dominated the wireless microphone market, where APAC wireless microphone market to witness the highest growth during 2020-2025. The increasing spectators for live events and increasing subscription purchases for video on demand services respectively is analyzed to drive the wireless microphone market demand
Type of Wireless Microphone – Segment Analysis
Clip-on wireless microphone market is analyzed to witness the highest growth during 2020-2025 owing to the growing adoption of these products in education, hospitality and sporting events. As per recent IndustryARC estimates, the global Sport Event Ticketing e-Services revenue is set to surpass $40 billion by 2025 with the U.S. to continue its dominance over the market during the forecast period 2020-2025. The growing investment of government bodies among the developing economies, towards their domestic sports sectors is set to open up new opportunities for various equipment and devices used for live broadcasting during the events which includes wireless microphones as well.
Technology- Segment Analysis
Radio frequency based wireless microphones are analyzed to be the major shareholder of the market owing to the earlier penetration of the technology and ease of use of the products. However, technologies such as 2.4GHz wireless microphone and UHF microphones are analyzed to witness significant growth during 2020-2025 owing to the lower losses and accommodation of more number of channels in these products
Geography – Segment Analysis
North America dominated the wireless microphone market with a share of 40%, followed by Europe and APAC in 2018. As per recent IndustryARC estimates, the U.S. held the largest share accounting to 45% of the global Sport Event Ticketing E-services market in 2018 followed by U.K. and China. The broad base of sports event industry in the country with significant spending in the sports vertical is set to drive the market for various devices and equipment used for audio acquisition including the wireless microphones. APAC wireless microphone market is estimated to witness the highest growth rate during 2020-2025 owing to the increasing investment in the education sector for modernization of institutes, school, colleges and so on. Apart from this, the rise in the sporting events and government initiatives to boost the hospitality sector is also set to assist the market growth during 2020-2025
Drivers – Wireless Microphone Market Trends
- Growing Attraction towards Live Events
There has been significant rise in the number of audience attending live sporting events and other events globally which is further creating a demand for various audio and video recording devices as new purchases as well as stock upgrade for live recording and broadcasting. The paradigm shift to the online ticketing system for these events has been a major factor attracting more spectators to such events. As per recent IndustryARC estimates, the global event ticketing market valued close to $70 billion in 2018. This is set to drive the wireless microphone market growth during the forecast period 2020-2025
- Favorable Growth in Entertainment Sector
The entertainment sector has been analyzed to witness a significant buoyant force with the explosive growth of the Video-on-Demand services along with growing penetration of 4G across the globe. As per recent studies conducted by IndustryARC global Video-on-Demand market is set to surpass, $85 billion by 2025 growing at rate of close to CAGR 7% during the period 2020-2025. The access to high speed data access and the number of smartphone users is resulting in significant increase in the demand of the entertainment video content. This is availing a promising traction to the entertainment industry with the audiences’ keen interest to short films, TV series and so on. The demand for rich content is thereby creating a market pull for various for various audio and video capture devices or equipment, including wireless microphone
Challenges – Wireless Microphone Market
- Explosive Growth of Smartphones and Other Wireless Devices
The explosive growth of smartphones and other wireless devices have negative impact on the spectrum allocation resulting to the short of the same. Owing to this there are certain interference in the signals causing connection faults. With the buoying growth of IoT devices, the 2.4GHz spectrum is also set to witness prominent shortage which can negatively impact the wireless microphone market growth during 2020-2025
Product launches and acquisition are key strategies adopted by players in the wireless microphone during 2016-2018. The wireless microphone market has been analyzed to be fragmented with the key players accounting a small portion of the share in 2018. Some of the key players analyzed for the wireless microphone market share analysis include Samson Technology Corp, Sennheiser Electronic Gmbh Co, Sony Corporation, Audio-Technica Corporation and so on
Acquisitions & Product Launches
- In July, 2018, Logitech announced the acquisition of Blue Microphone for $117 million, for entering into the high fidelity audio equipment market
- In February, 2018, Sound Devices, LLC acquired Audio Ltd., a UK-based manufacturer of wireless microphone systems for its cutting edge digital RF equipment technology
- In September, 2019, Saramonic, a professional audio equipment manufacturer launched Saramonic Blink 500 system, a 2.4GHz wireless clip-on lavalier microphone system
IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to firstname.lastname@example.org to discuss more about our consulting services.