The professional wireless microphone is the largest product segment in the pro microphone market.
Arizton’s recent market research report on the pro microphone market identifies Audio-Technica, HARMAN International (Samsung), Sennheiser, Shure, and Yamaha as the leading vendors that are likely to dominate the market during the forecast period. The research report provides detailed analysis of market segmentation by product type (wired and wireless), format (digital and analog), end-users (corporate, large venues and events, educational institutions, government and military, studio and broadcasting, hospitality, and others), and geography (APAC, Europe, Latin America, MEA, and North America).
The pro microphone market is expected to generate revenue of $3.04 billion in 2023 and is expected to grow at a CAGR of more than 2% during the forecast period.
The global pro microphone market is segmented into product type, format, end-users, and geography.
The leading three market segments are discussed in detail below:
Wireless microphones to dominate the pro microphone market during the forecast period
The pro microphone market by product type is segmented into wireless and wired microphones. The wireless microphone is the largest product segment in the pro microphone market, accounting for close to 54% of the total market share in 2017 and is expected to grow at a CAGR of 3.70% by 2023. The ease offered by wireless microphones to users onstage and the enhancement of their ability to interact with the performance environment are propelling the growth of this segment in the global pro microphone market. Leading companies in the wireless microphone segment are concentrating on developing microphones that resolve technical issues such as static, interference, drop-outs, intermodulation, and voice and noise distortions to attract a wide consumer base and sustain the competition in the global pro microphone market. The wireless microphone segment is further divided into handheld, clip-on, and others (headsets). The innovation in technology will help vendors launch superior products in the global pro microphone market over the next few years.
Corporate sector to be the largest end-sure segment in the pro microphone market during the forecast period
The end-user segment in the global pro microphone market consists of corporate, large venues and events, educational institutions, government and military, studio and broadcasting, hospitality, and others.
The corporate sector dominated the pro microphone market, occupying over 25% of the total market share in 2017 and is expected to grow at a CAGR of 2.50% during the forecast period.
The adoption of e-learning programs designed for skill development and training is driving the growth of the pro microphone market. Leading vendors are focusing on developing sound reinforcement equipment for IT integrated technology-based corporate learning programs to increase share in the global pro microphone market.
APAC to grow at a significant CAGR in the pro microphone market during the forecast period
The pro microphone market by geography is classified into APAC, Europe, Latin America, MEA, and North America. APAC is growing at a considerable rate in the global pro microphone market at a CAGR of 2.97% and is expected to reach revenue of close to $985 million during the forecast period.
Japan, Australia, China, and South Korea are leading revenue contributors in the global pro microphone market.
Rapid urbanization and increase in disposable income are propelling the demand for professional microphones from various industries such as entertainment, broadcasting, hospitality, exhibition, healthcare, and restaurant. The government initiatives in the countries such as India and China toward the development of the digitalized economy will attribute to the demand in the global pro microphone market.
Audix Microphones, Beyerdynamic, Blue Microphones, Electro-Voice, GTD Audio, Heil Sound, inMusic Brands, Lectrosonics, LEWITT, MIPRO Electronics, Music Group (Tribe) IP, MXL by Marshall Electronics, Nady Systems, PROEL, RCF, Samson Technologies, Sony, and ZAXCOM are other prominent players in the global pro microphone market.
The complete overview of the latest market research report on the pro microphone market by Arizton is now available.
The report offers a detailed study of major trends, drivers, challenges, and provides the market size and forecast for major geographical regions and key countries.
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