Microphone Market: Global Industry Analysis and Forecast (2023-2029)

Microphone Market size was valued at US$ 2.20 Bn. in 2022 and the total revenue is expected to grow at CAGR 8.13% through 2023 to 2029, reaching nearly US$ 3.81 Bn.
Microphone Market Overview:
The microphone is an essential device in consumer electronic products such as mobiles, smartphones, tablets, computers, laptops, headphones, and earphones that enables the users to communicate with another user over another place. Microphones are typically used to amplify sound. Microphones are used in several applications such as telephones, public address systems for public events, live and recorded engineering, sound recording, two-way radios, and radio and television broadcasting.To know about the Research Methodology :- Request Free Sample Report
Microphone Market Dynamics:
The Microphone Market is showing northward direction growth, thanks to the growing demand for an efficient and reliable sound system with high audio quality is increasing, as the growing number of concerts, festivals, public meetings, sports events, corporate gatherings, and others fuelling the necessity of microphone for communication peoples. Microphones are the best devices for news broadcasters' reporters as they offer a two-way link between cameraman and reporter. Talkback, wireless microphones, and radio microphones are in great demand and are experiencing high popularity in the media and entertainment industry. These factors are driving the significant growth of the Microphone market across the globe.

Increased use of Microphone devices in Smartphones is the prime driving factor for the growth of the Microphone market across the globe. For instance, Global smartphone shipment revenue grew by 25% YoY to US $ 96 Billion in the second quarter of 2021. In the global shipment of the smartphone, about 0.323 Billion units were sold by Samsung Company, while Xiaomi eclipses 0.052 Billion units in 2021. Increased production of smartphones is fueling the Microphone product demand, which is expected to significant growth in the microphone market.

The increased investment in the entertainment industry is attributed to the microphone market growth. For instance, as per the report of the International Federation of the Phonographic Industry (IFPI), the overall investment in an artist is around $0.050 Billion to $2 Billion. These boosted investments and demands are expected to increase the global microphone market growth and product penetration opportunities for new players during the forecast period.

The appliances and consumer electronics industry is growing at a rapid pace, thanks to the increasing demand for high-end consumer electronics such as smartphones, tablets, smartwatches, smart homes, and office devices. These types of devices required small, thin, and lower consuming components, which has boosted demand for the microphones.
Microphone Market Segment Analysis:
Based on the Communication Technology, the Microphone Market is segmented into Wired and Wireless. The Wireless Microphone segment held the largest market share of 63.47% in 2020 and it is expected to grow at a CAGR of 9.37% during the forecast period. The Wireless Microphone has several benefits such as flexibility in the placement, easy set-up, and convenience to use are makes them vulnerable to consumers. The growing use of the wireless microphone in consumer electronics products, public speaking, entertainment, and television broadcasting has driven the growth of product demand for this segment over the forecast period.

Based on the Application, the Microphone Market is segmented into Automotive, Commercial Security and Surveillance, Consumer Electronics, Industrial, Medical, and Noise Monitoring and Sensing. The Consumer electronics segment held largest market share of 29.3% in 2020, and it is expected to witness rapid growth at a CAGR of 8.43% during the forecast period. Consumer Electronics and accessories are one of the major contributors to the MEMS microphone industry, fueling the microphone growth for this segment. Smartphones, Tablets, Laptops, PC Accessories, Handheld GPS, Smart Speakers, and Smart TVs are considered consumer electronics and accessories segments.
Microphone Market Regional Insights:
North America region held the largest market share accounting for 37.12% in 2020. The increasing adoption of electronic devices based on cutting-edge technology in countries like the US and Canada is a prime driving factor for the microphone market growth in this region. In addition, US-based consumer electronics manufacturers have increased the manufacturing of microphone-enabled devices for smart homes and offices, which is expected to boost the microphone market in the region over the forecast period.

Asia Pacific region is expected to witness a significant CAGR of 8.67% during the forecast period. The Increased use of consumer electronics like wearables and smart home devices in this region is fueling the product demand. In the Asia Pacific region, China is the biggest market for the manufacturing of smartphones, tablets, TV, and other electronic devices are expected to fuel the product demand in China. Emerging economies such as China and India have become high-end smart devices where better audio quality is needed, which is expected to fuel the market growth for the microphone market in this region.

The objective of the report is to present a comprehensive analysis of the Trampoline Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Trampoline Market dynamic, structure by analyzing the market segments and projecting the Trampoline Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Microphone Market make the report investor’s guide.
Microphone Market Scope: Inquire before buying



Microphone Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 2.20 Bn.


Forecast Period 2023 to 2029 CAGR:
8.13%
Market Size in 2029:
US $ 3.81 Bn.


 Segments Covered:
by Communication Technology
Wired
Wireless


by Type
Analog
Digital
Electret
Others


by Application
Automotive
Commercial Security and Surveillance
Consumer Electronics
Industrial
Medical
Noise Monitoring and Sensing



Microphone Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Microphone Market Key Players are:
1. Knowles
2. AAC Technologies
3. TDK
4. Goertek
5. STMicroelectronics
6. Omron
7. Texas instruments
8. Infineon technologies
9. Sonion
10.Cui Devices
11.Analog Devices
12.On Semiconductor
13.Neomems Technologies
14.Amkor Technology
15.Memsensing
16.Audio-Technica Corporation
17.LEWITT GmbH
18.Samson Technologies Inc.
19.Shure Incorporated
20.AKG Acoustics
21.Sennheiser Electronic GmbH & Co.
Frequently Asked Questions:
1] What segments are covered in the Microphone Market report?
Ans. The segments covered in the Microphone Market report are based on Type, Communication technology, and Application.

2] Which region is expected to hold the highest share in the Microphone Market?
Ans. The North America region is expected to hold the highest share in the Microphone Market.

3] What is the market size of the Microphone Market by 2029?
Ans. The market size of the Microphone Market by 2029 is US $ 3.81 Bn.

4] What is the forecast period for the Microphone Market?
Ans. The Forecast period for the Microphone Market is 2023-2029.

5] What was the market size of the Microphone Market in 2022?
Ans. The market size of the Microphone Market in 2022 was US $ 2.20 Bn.