The research report on the in-ear monitoring system market cover market sizing and forecast, market share, industry trends, growth drivers, and vendor analysis. The study includes insights on segmentation by products (wired, wireless), applications (studio and broadcasting, live events and performances, large venues, and others), distribution types (online and retail), and geography (North America, Europe, APAC, Latin America, and MEA).
In-ear monitoring systems came into the scene in 1980 since then they have been gaining popularity, especially for live events and performances, outdoor concerts, and musical festivals. They have also found their application in broadcasting studios and recording venues and in large venues such as stadiums, exhibitions and tradeshow centers, and worship places. The in-ear monitoring market comprises two types - wired and wireless. A wired in-ear monitoring system constitutes of two parts (a bodypack receiver and earphones), whereas the wireless in-ear monitoring system consists of three components (earphones, a bodypack receiver, and a transmitter). In-ear monitoring systems are designed to enhance sound quality and reduce the outside noise levels. These systems usually require the performer to remain tethered to the cable wire. Stationary performers on the stage usually prefer wired in-ear monitoring systems as they offer convenience, cost efficiency, and hassle-free frequency monitoring abilities. A wireless in-ear monitoring system, on the other hand, offers a high scope for mobility. On-stage performers, theater and stage-rehearsal personalities, and worship houses prefer wireless systems as they offer mobility. Shure, Sennheiser, LD Systems, and Audio-Technica are some of the key vendors engaged in the designing of wireless in-ear monitoring systems.
Collaborations among music industry players, advancements in in-ear monitoring technology, and intensification in market competitions are expected to offer new opportunities for vendors in the market. Further, product differentiation is a factor for vendors to distinguish their products and service offerings, or else they might lose relevance in the market. In addition, the development of new functionalities and continued product upgrades is required to keep pace with the evolving technological landscape in the in-ear monitoring system market. The in-ear monitoring system market is expected to reach around $981 million by 2024, growing at a CAGR of about 4.5% during 2018–2024.
A key trend witnessed in the music industry market is to target visually impaired musicians via innovations. A major development in the in-ear monitoring system market has been the contribution toward the Baton Project, a plan that redefines orchestra for visually impaired musicians. A leading manufacturer, Shure, has backed the Project. It launched PSM900 in-ear monitoring systems, which can transmit the vibrations from the Baton directly to a wearable device worn by the visually impaired end-user. The transmitted signals ensure that they are received by the user that help in assessing the direction of the ongoing performance.
Further, top-notch vendors are adopting this new concept and considering it as a revenue-generating opportunity. The first trial was conducted by using the Haptic Baton experience. Hence, it is an incredibly innovative approach to cater to the niche market, and the vendor is expected to emerge as an exclusive service provider for the visually impaired audience. Also, such initiatives help the company to project itself as a socially responsible brand in the in-ear monitoring system market.
This market research report includes a detailed segmentation of the market by products, applications, distribution types, and geography.
In-ear Monitoring System Market: Products
Innovations and strategic partnerships between manufacturers and musicians are set to increase the reach of wireless in-ear monitoring systems
The in-ear monitoring system market by products can be segmented into wired and wireless. The wireless in-ear monitoring system segment continues to dominate the market due to innovations and the rise in strategic partnerships between manufacturers and musicians and bands. For instance, since 2014, the famous singer and songwriter ED Sheeran has opted for Sennheiser, which is a high-quality, brand. Further, the availability of multiple features in wireless in-ear monitors has increased the demand across diverse end-user applications. They are widely used during live performances and studio recordings. Vendors are actively involved in developing new and innovative products for the diverse range of end-user applications. For instance, Audio-Technica delivers an in-ear monitoring system (Audio-Technica M2), which has competitively priced and easy to operate.
Wired in-ear monitors primarily cater to the demand for stage performers playing second fiddle to the lead vocal. They are widely used in worship houses, events, and studio recordings. Stage performers prefer wired in-ear monitoring systems due to the ease of usage, low cost, and hassle-free frequency monitoring abilities. For instance, P9HW wired bodypack personal monitor by Shure is gaining traction due to low-cost, long battery backup, and easy operating abilities.
In-ear Monitoring System Market: Application
The growth of the live music industry worldwide is likely to drive the demand for effective in-ear monitoring systems
The global in-ear monitoring market by application is segmented into studio and broadcasting, live events and performances, large venues, and others. The in-ear monitoring system market is witnessing an increase in live events and performances, and the segment is growing at a CAGR of about 5%. Live events and performances comprise outdoor concerts, performances, live music festivals, and clubs. Global music tours are drawing considerable attention and popularity, which requires effective in-ear monitoring systems. Hence, vendors catering to this end-user application segment via strategies such as partnerships with event organizers, music bands, and artists. They are also collaborating with trending performers to highlight and increase product sales.
In-ear monitoring systems efficiently reduce the external noise and enable the end-user to listen to the correct notes. The in-ear monitoring system market is growing significantly in Asia and Latin America. Countries such as the US, Japan, the UK, Germany, France, South Korea, China, Australia, Canada, and Brazil have emerged as major regions for vendors dealing in in-ear monitoring systems worldwide.
In-ear Monitoring System Market: Distribution Type
Online sales are set to increase over 10% YOY during the forecast period
The in-ear monitoring system market by distribution channels is classified into retail (AV system integrators, Pro AV &electronics stores, Pro AV dealers &distributors) and online stores. The retail stores segment dominated the market share in 2018. The segment consists of three sub-segments: AV system integrators, Pro AV & electronics stores, and Pro AV dealers and distributors. AV system integrators provide consultation services to end-users and act as intermediators between end-users and OEMs. Pro AV and electronic stores sell and rent pro AV solutions that are used during live shows, music concerts, and public speaking events. Pro AV dealers and distributors are the prime sellers of in-ear monitoring systems that sell them on behalf of OEMs.
In-ear monitoring systems and solutions are also available to end-users through OEMs’ e-commerce portals and online direct-to-consumer stores such as Amazon, eBay, SoundBroker.com, Americanmusical.com, Organgeaudio.co.uk, Alibaba, and AliExpress.The online distribution segment is expected to gain popularity due to the increasing penetration of the internet and compatible pricing. Online sales are set to increase by over 10% YOY during the forecast period.
In 2018, the retail segment contributed to the highest market revenue to the market globally. The online segment is facing strong competition from the retail segment because of the entry of traditional pro AV equipment vendors in the online market, which has increased the visibility of in-ear monitoring systems. A large number of retail players such as Wal-Mart, Sear's, Tesco, Best Buy, and Costco have started to stock and showcase products in their retail outlets, thereby leading to an erosion of market share of the online segment.
In-ear Monitoring System Market: Geography
North America and Europe are expected to remain the promising regions for in-ear monitoring systems
The in-ear monitoring systems market by geography is segmented into APAC, Europe, North America, Latin America, and MEA. North America dominated the market and is expected to grow at a CAGR of around 4% during the forecast period. In the last couple of years, the music industry in US has witnessed a growth of around 14%; hence, the growing demand for concerts and music recordings, increasing live music shows and activities, and the increasing retail expansion have holistically boosted the in-ear monitoring system market. Further, the penetration of networked audio technology in the US is growing, and more concerts and music festivals are using this technology in place of traditional ones.
The demand for in-ear monitoring systems in Europe is growing significantly. Constant upgrades and the replacement of legacy systems are driving the in-ear monitoring system market, especially in Western Europe. The rise in live shows, concerts, music recordings, and the increased consumer spend have accelerated the demand for in-ear monitoring devices. The UK, Germany, and France are the leading destinations of music festivals, thereby offering a high demand for in-ear monitoring systems.
Key Countries Profiled:
Key Vendor Analysis
The global in-ear monitoring system market is currently highly competitive. The market remains a little concentrated at the top, with 4–5 key vendors enjoying a majority of revenue.However, the market is also witnessing the growing influx of small and medium-sized vendors worldwide. Changing customer preferences worldwide and the consistent need for technological enhancements in product offerings are driving vendors to modify and refine their unique value propositions. Partnerships with artists, event organizers, and other end-user application entities are another growth strategy adopted by vendors, which is expected to boost the in-ear monitoring system market.
Other prominent vendors are Nady Systems, Pyle Pro, Hear Technologies, Peavey Electronics, Prodipe, JTS Professional, Audio2000’s, EnpingSange Electronic (Baomic), Shenzhen Anleon Electronic, SOYO Technology, Takstar, Wisycom USA, CAD Audio, MIPRO, Listen Technologies, Gear4music, TOA corporation, ANT (Advanced Native Technologies), The t.bone, and LD Systems.
Key Market Insights
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