As per the newly compiled report by IndustryARC, the global microphone market generated $1.3 billion in revenue in 2018 owing to the widespread application of microphones in smartphones, wearables, tablets, headsets, hearing aids, two-way radios, knock sensors, motion picture production, sound recording, speech recognition, VoIP, audio engineering, and many more. Furthermore, the advent of technological innovations such as development of wireless microphones, and the adoption of digital wireless technology across the globe are the prime dynamics that are augmenting the global microphone market growth. The microphone market is projected to grow at a CAGR of 5.82% during the forecast period 2019-2025.
The report is titled as “Microphone Market: By Technology (Wired & Wireless); By Application (Consumer Electronics, Commercial, Video Surveillance, Medical, Automotive, Aerospace & Defense); & By Geography - Analysis & Forecast (2019- 2025).” This market research report on the microphone market offers analysis on market size, trends, growth drivers, and vendor analysis. It also include insights on segmentation by product type, application and geography.
Microphone Market: Leading Segments
Geographically, the APAC region dominated the global microphone market occupying almost 37.47% of the total market share in 2018. This is mainly due to the burgeoning end-user industries in the emerging economies of this region such as India, China, and Japan. Specifically, the prosperity in the electronics industry, being a prime manufacturer of microphones, in India and China has led to promising prospects for the market in the Asia Pacific. The growth in the electronics industry can be easily fathomed from the statistics provided by Invest India, according to which the India electronics industry is anticipated to attain $228 billion by 2020 from over $100 billion in 2016-17. Moreover, the presence of a high consumer base is providing a positive impulse to the market growth in this region.
Microphone Market Trends
Piezoelectric MEMS Microphones:
Piezoelectric MEMS microphone is a solid-state integrated circuit which can sense sound signals in same pattern as traditional microphones. It is a waterproof, dustproof, particle-resistant, and shockproof microphone. These features are attributed to the fact that Piezoelectric MEMS microphone design replaces diaphragm and backplate with flexible alternatives. Owing to the aforementioned advantages, there is increasing popularity for piezoelectric MEMS microphones, thereby disrupting the global microphone market growth.
Microphone Market Companies
There are many companies that are expanding geographically to gain ground over their competitors. Some of the major companies that are striving to acquire prominent position in the microphone market are Knowles, AAC, Vektor, Goertek, Infineon, BSE, Bosch, Wolfson, Analog Devices, NeoMEMS, Hosiden, Omron, and STMicroelectronics.
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