iCrowdNewswire Jan 27, 2021 2:00 AM ET
WiseGuyReports.com adds “Global Microphones Market Research Report 2021 Analysis and Forecast 2027” reports to its database.
The global microphones market was worth $2.48 billion in 2019. It is expected to grow at a compound annual growth rate (CAGR) of 0.43% and reach $2.53 billion by 2023.
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 2018 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. In 2019, 57% of women and 63% of men own smartphones. Therefore, adoption of mobile phones is expected to increase the microphones market’s growth.
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The microphones market consists of sales of microphones and related services that are used in various applications such as in hearing aids, radios, large venues & events, educational institutions, government and military, and hospitality. A microphone is a type of transducer that converts acoustical energy from one form to another.
The microphones market has been geographically segmented into North America, Western Europe, Asia-Pacific, Eastern Europe, South America and Middle East & Africa. North America was the largest region in the microphones market in 2019.
The microphones market covered in this report is segmented by product type into wired microphones, wireless microphones. It is also segmented by end-user into studio & broadcasting, large venues and events, educational institutions, government and military, corporate, hospitality.
In both developing and developed economies, devices such as Amazon Alexa and Google Home are gaining popularity. These devices are manufactured by extensive use of microphones, which are able to respond to human voices. A smart assistant can perform various tasks such as playing music, news with the help of software that is installed in these smart devices. The home users are interacting with the SPA technology, which is an emerging innovation that is changing the way. The growing demand for personal home assistance owing to increasing disposable incomes and standard of living are driving revenues in the global microphones market.
Technical difficulties hampering the adoption of wireless microphones are expected to limit the growth of the microphones market. Due to the obstructions and physical distance between transmitter and receiver wireless microphones are subjected to signal blockages. In large events, microphone reception fades drastically due to dead zones created by obstructions and physical distance. Although hand free microphones are popular and unobtrusive many people have a habit to turn their heads while talking causing the voice to drop significantly. Wireless microphones can operate in VHF, UHF, 2.4GHz and 6GHz bands. The obstructions and the signal blockages are some of the technical difficulties that limit the growth of the microphones market.
In December 2019, Knowles Corporation, a market leader and a global provider of advanced micro-acoustic, audio processing, and precision device solutions, acquired microphone design assets from AMS AG for a deal amount of $58 million. The transaction includes intellectual property, rights to source ASIC wafers from multiple foundry partners, and the transfer of the ASIC design team, which will continue to be based in Switzerland. AMS AG designs and manufactures advanced sensor solutions and also delivers a broad range of technology solutions for consumer electronics and communication device manufacturers. Products in AMS AG include sensor ICs, interfaces and related software for consumer, communication, industrial, medical, and automotive markets.
Major players in the microphones market are Knowles Corporation, Goertek, STMicroelectronics, BSE, NeoMEMS Technologies, Hosiden, InvenSense, Cirrus Logic, AAC Technologies, and Infineon Technologies.
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