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Smart Mic Market Overview:
Smart Mic Market size is estimated to reach $450 Million by 2030, growing at a CAGR of 10.8% over the forecast period 2023-2030. A microphone is a transducer that converts sound waves into electrical signals. It is a vital tool used in various industries, including broadcasting, music production, public speaking, and telecommunications. Microphones come in different types, such as dynamic, condenser, ribbon, and lavalier, each with its own characteristics and applications. Microphones are essential for recording clear and accurate audio, amplifying sound in live performances, facilitating clear communication in teleconferences, and capturing vocals or instruments in studios. The rising popularity of voice-activated technology, such as virtual assistants for Instance, Amazon Alexa, Google Assistant, Apple Siri, has significantly increased the demand for smart microphones. These microphones enable accurate and reliable voice recognition, facilitating seamless interactions between users and their devices. Their advancements in technology have led to the development of wireless and miniature microphones, making them even more versatile and convenient for various applications.
Market Snapshot:
Smart Mic Market- Report Coverage:
“Smart Mic Market Report - Forecast (2022-2030)” by IndustryARC, covers an in-depth analysis of the following segments in the Smart Mic Market.
COVID-19 / Ukraine Crisis - Impact Analysis:
• The Smart Mic market is not an exception for the way the COVID-19 pandemic has affected every sector of business. The pandemic disrupted global supply chains, affecting the availability of critical components for smart microphones. This resulted in delays in production and potential shortages, impacting the market's ability to meet demand. As economic uncertainty prevailed, consumer spending on non-essential devices like smart microphones was affected. Many consumers prioritized essential items, leading to a decrease in sales. The employment, revenues, exports, and domestic consumption of the smart mic business have all declined.
Key Takeaways:
• The Smart Mic Market is Growing Fastest in the Asia Pacific Region
Geographically, Asia Pacific dominated the Smart Mic Market grow with a share of more than 11.5% over the forecast period of 2023 to 2030, followed by North America and Europe. The Smart Mic market has seen substantial growth all around the world, however the Asia Pacific area has seen the quickest expansion. Asia Pacific has developed into a key market for Smart Mic's growth because of its increasing adoption of smart devices. Additionally, The well-known lifestyle audio brand Skullcandy debuted an intriguing line of audio products in India in 2023, including a sophisticated ANC Headphone and two True Wireless earbud variants. The Smokin' Buds and Rail are among the TWS products, the ANC Headphone is the CRUSHER ANC 2. With features including multipoint pairing, a clear speech smart mic, and hands-free voice control with Skull-iQ Smart Feature Technology®, the Rail True Wireless Earbuds are Skullcandy's top model. These factors drive up demand for Smart Mic Market throughout the forecast period.
• Digital Type Registers the Fastest Growth
In the Smart Mic Market, the category for Digital Type segment held a major market share of 32% in 2022, grow with the highest CAGR during the forecast period. Digital-type smart mics have witnessed the swiftest expansion in the smart mic market owing to their exceptional versatility and advanced features. Unlike traditional analog mics, digital smart mics provide enhanced signal processing capabilities and noise reduction, rendering them adaptable to a wide array of applications, from consumer electronics to industrial and automotive sectors. They can seamlessly integrate with voice assistants like Siri or Alexa, making them highly sought after for voice-controlled devices. Furthermore, the surging demand for voice recognition technology in smartphones, smart speakers, and smart home devices has fueled the adoption of digital smart mics. Their ability to process and transmit clear, high-quality audio data in a compact and energy-efficient package has positioned them as the preferred choice in the rapidly expanding world of smart technology, driving their remarkable growth in the market.
For instance, MD ADVANCE TECHNOLOGY 2 in 1 K8 Wireless Microphone . This is a digital mini portable recording clip mic with a receiver for all Type-C Lightning mobile phones.
• Automotive Segment is Leading the Market Growth
The automotive segment has emerged as the frontrunner in the burgeoning smart microphone market, owing to its rapid integration of advanced voice recognition and control systems. The automotive application segment has emerged as the leader in driving market growth within the smart microphone market due to several compelling reasons. Modern vehicles are increasingly incorporating voice recognition and control systems to enhance user experience and improve safety on the road. Smart mics play a pivotal role in enabling these systems by providing precise voice command recognition and noise cancellation, ensuring clear communication between the driver and the vehicle's integrated technologies. Additionally, the growing popularity of hands-free infotainment systems, GPS navigation, and in-car virtual assistants has contributed significantly to the demand for smart mics in the automotive sector. As the automotive industry continues to evolve toward autonomous driving and connected vehicles, the importance of reliable and efficient voice-based interfaces becomes even more pronounced, solidifying the automotive application segment's leadership in driving the smart microphone market's overall growth.
For Instance, MediaTek Introduce Dimensity in 2023, an Auto smart microphone developing innovation in smart vehicle technology. The next generation of intelligent, always-connected cars is powered by a new automotive platform that offers powerful processing and a wide range of technologies.
• Rising Demand for Voice-Activated Virtual Assistants Will Fuel the Growth of the Smart Mic Market.
The inception of voice-activated virtual assistants marked a revolutionary moment in the tech industry. Amazon's Alexa, Apple's Siri, Google Assistant, and Microsoft's Cortana are just a few of the names that have become household terms. These intelligent assistants leverage advanced voice recognition, natural language processing, and cloud computing to understand and respond to spoken commands. Their versatility spans from answering questions, setting reminders, controlling smart home devices, and even engaging in casual conversations. The seamless operation of these virtual assistants relies on smart microphones, which act as their ears, capturing audio input and facilitating bidirectional communication. These microphones are engineered to be exceptionally sensitive, capable of capturing voice commands accurately in various environments. They play a fundamental role in the voice recognition and speech processing algorithms that enable virtual assistants to comprehend human speech and respond with precision.
For instance, in 2022, 42.7% of adults will use a smartphone to interact with voice assistants each month. Meanwhile, 32.2% will use a smart speaker as often. Almost all adult voice assistant users are using the conversational AI tech on a smartphone (91.0% this year).
• Increasing Consumer Electronics Market Will Fuel the Growth of the Smart Mic Market.
The consumer electronics market is a sprawling landscape encompassing a diverse array of devices, from smartphones and smart speakers to smart TVs, headphones, and wearables. These devices have become an integral part of our lives, delivering convenience, entertainment, and connectivity. With the continuous evolution of consumer electronics, the incorporation of smart microphones has opened up new dimensions in how we interact with these devices. Smartphones have established themselves as an indispensable part of modern life. As the hub of our daily communication and information access, smartphones have integrated smart microphones to facilitate voice commands, virtual assistants, and voice-activated applications. For example, the introduction of noise-canceling smart microphones in flagship smartphones enhances audio quality during calls and media consumption. The advent of smart speakers has brought voice-activated virtual assistants into our homes. Devices like Amazon Echo, Google Home, and Apple HomePod rely on high-quality microphones to capture voice commands accurately. These voice assistants have become central to home automation, offering features such as controlling smart lights, thermostats, and appliances.
For instance, Skullcandy launches Mod earphones with Clear Voice Smart Mic in 2022. "Clear Voice Smart Mic" technology ensures crystal clear audio during conversations and Zoom meetings by isolating the speaker's voice from background noise and utilising artificial intelligence (AI).
• High cost associated with High-Quality Microphones Hamper the Market Growth.
High-quality smart microphones are the result of intricate engineering and cutting-edge technology. They incorporate advanced features like noise cancellation, beamforming, and voice recognition, which demand significant research and development efforts. This technological complexity contributes to the elevated costs of production. Smart microphones are composed of precision components such as diaphragms, sensors, and signal processors, designed to deliver exceptional audio quality. The manufacturing and assembly of these components require a high degree of precision, which often involves costly materials and processes. Many smart microphones are equipped with noise-canceling capabilities to ensure clear audio capture in diverse environments. The sophisticated signal processing chips and algorithms required for noise cancellation add to the cost of the microphone. Despite the high costs associated with high-quality smart microphones, the industry is actively addressing this restraint to ensure that consumers can access advanced audio technology without breaking the bank.
For instances, Apple's AirPods Pro, released in 2019, are known for their active noise cancellation and high-quality audio. While they are considered among the best in-ear wireless headphones available, their premium price tag has raised discussions about the affordability of advanced audio technology. Apple's strategy involves offering multiple price points, including budget-friendly options, to cater to a broader consumer base.
Smart Mic Market Share (%) By Region, 2023
Key Market Players:
Product/Service launches, approvals, patents and events, acquisitions, partnerships and collaborations are key strategies adopted by players in the Smart Mic Market. The top 10 companies in this industry are listed below:
- AKG Acoustics GmbH
- Knowles Corporation
- Infineon Technologies AG
- Vesper Technologies, Inc.
- DSP Group, Inc.
- Cirrus Logic, Inc.
- TDK Corporation
- DSP Group
- Synaptics Incorporated.
- Akustica, Inc.
Scope of the Report:
1. Smart Mic Market - Overview
1.1. Definitions and Scope
2. Smart Mic Market - Executive Summary
3. Smart Mic Market - Comparative Analysis
3.1. Company Benchmarking
3.2. Global Financial Analysis
3.3. Market Share Analysis
3.4. Patent Analysis
3.5. Pricing Analysis
4. Smart Mic Market - Start-up Companies Scenario
4.1. Key Start-up Company Analysis by
4.1.1. Investment
4.1.2. Revenue
4.1.3. Venture Capital and Funding Scenario
5. Smart Mic Market – Industry Market Entry Scenario Premium
5.1. Regulatory Framework Overview
5.2. New Business and Ease of Doing Business Index
5.3. Case Studies of Successful Ventures
6. Smart Mic Market - Forces
6.1. Market Drivers
6.2. Market Constraints/Challenges
6.3. Porters Five Force Model
6.3.1. Bargaining power of suppliers
6.3.2. Bargaining powers of customers
6.3.3. Threat of new entrants
6.3.4. Rivalry among existing players
6.3.5. Threat of substitutes
7. Smart Mic Market – Strategic Analysis
7.1. Value Chain Analysis
7.2. Opportunities Analysis
7.3. Market Life Cycle
8. Smart Mic Market – By Type
8.1. Analog
8.2. Digital
9. Smart Mic Market – By Technology
9.1. MEMS
9.2. Electret
9.3. Others
10. Smart Mic Market – By Communication Technology
10.1. Wired
10.2. Wireless
11. Smart Mic Market – By Application
11.1. Automotive
11.2. Commercial Security & Surveillance
11.3. Consumer Electronics
11.4. Industrial
11.5. Medical
11.6. Noise Monitoring & Sensing
12. Smart Mic Market - By Geography
12.1. North America
12.1.1. U.S.
12.1.2. Canada
12.1.3. Mexico
12.2. Europe
12.2.1. U.K.
12.2.2. Germany
12.2.3. France
12.2.4. Italy
12.2.5. Spain
12.2.6. Russia
12.2.7. Rest of Europe
12.3. Asia-Pacific
12.3.1. China
12.3.2. India
12.3.3. Japan
12.3.4. South Korea
12.3.5. Australia & New Zealand
12.3.6. Rest of Asia-Pacific
12.4. South America
12.4.1. Brazil
12.4.2. Argentina
12.4.3. Chile
12.4.4. Colombia
12.4.5. Rest of South America
12.5. Rest of the World
12.5.1. Middle East
12.5.2. Africa
13. Smart Mic Market - Entropy
13.1. New product launches
13.2. M&A’s, collaborations, JVs and partnerships
14. Smart Mic Market – Industry/Segment Competition Landscape
14.1. Market Share Analysis
14.1.1. Global Market Share – Key Companies
14.1.2. Market Share by Region – Key companies
14.1.3. Market Share by Countries – Key Companies
14.2. Competition Matrix
14.3. Best Practices for Companies
15. Smart Mic Market – Key Company List by Country Premium
16. Smart Mic Market - Company Analysis
16.1. Audio-Technica Corporation
16.2. Sennheiser Electronic GmbH & Co. KG
16.3. Shure Incorporated
16.4. AKG Acoustics GmbH
16.5. Beyerdynamic GmbH & Co. KG
16.6. Sony Corporation
16.7. Harman International Industries, Inc.
16.8. Rode Microphones
16.1. Blue Microphones. AKG Acoustics GmbH
16.2. Knowles Corporation
16.3. Infineon Technologies AG
16.4. Vesper Technologies, Inc.
16.5. DSP Group, Inc.
16.6. Cirrus Logic, Inc.
16.7. TDK Corporation
16.8. DSP Group
16.9. Synaptics Incorporated.
16.10. Akustica, Inc.
"Financials to the Private Companies would be provided on best-effort basis."
Smart Mic Market is projected to grow at 10.8% CAGR over the forecast period 2023-2030.
Smart Mic Market size is estimated to reach $450 Million by 2030
Top companies in the Smart Mic Market are Audio-Technica Corporation, Sennheiser Electronic GmbH & Co. KG, Shure Incorporated, AKG Acoustics GmbH, Beyerdynamic GmbH & Co. KG, Sony Corporation, Harman International Industries, Inc., Rode Microphones, Blue Microphones and Others.
Proliferation of smart technologies such as internet of things sensors and household virtual assistants are some of the major Smart Mic Market trends in the industry which will create growth opportunities for the market during the forecast period.
The rising demand of Smart Mic for voice activated virtual assistant, such as Siri, Google, and Alexa, is what fuels the market. There are lots of opportunities for firms to innovate and grow in this vibrant sector driving factors of the market.