The Microphones Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2011-2022) and extends its insights into a ten-year forecast period (2024-2033).
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According to The Business Research Company’s Microphones Global Market Report 2024, The microphones market size has grown steadily in recent years. It will grow from $2.63 billion in 2023 to $2.72 billion in 2024 at a compound annual growth rate (CAGR) of 3.8%. The growth in the historic period can be attributed to media and entertainment industry, telecommunications and audio communication, consumer electronics, professional audio recording, live performances and events.
The microphones market size is expected to see steady growth in the next few years. It will grow to $3.09 billion in 2028 at a compound annual growth rate (CAGR) of 3.2%. The growth in the forecast period can be attributed to voice-activated devices, 5g technology, telemedicine and remote work, automotive voice control, iot devices. Major trends in the forecast period include directional microphones, wireless and bluetooth connectivity, miniature and wearable microphones, usb microphones, environmental and noise-canceling microphones.
Widespread adoption of smartphones globally contributing to the growth of the microphones market. The demand for mobiles is directly proportional to demand for microphones. Mobile penetration is rapidly growing day by day across the globe, it is estimated that more than 5 billion people have mobile phones and half of them are smartphones. Younger people are more likely to have smartphones, access to the internet and use social media to be digitally connected. According to a Pew Research Center survey conducted across 18 advanced economies revealed that, a median of 76% have smart phones compared with a median of 45% in emerging economies. In Japan 69% of men and 63% of women own smartphones. Therefore, adoption of mobile phones is expected to increase the microphones market’s growth.
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The microphones market covered in this report is segmented –
1) By Product Type: Wired Microphones; Wireless Microphones
2) By Technology: Electret; MEMS; Other Technologies
3) By Application: Automotive; Commercial Security & Surveillance; Consumer Electronics; Industrial; Medical; Noise Monitoring & Sensing
4) By End-User: Studio & Broadcasting; Large Venues and Events; Educational Institutions; Government and Military; Corporate; Hospitality
The microphones market report table of contents includes:
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