Wireless Microphone Market to Reach US$611.4 mn by 2023 in APAC

  • Posted by Pragati P
  • June 6, 2016 10:15 AM BST

According to a new market report published by Transparency Market Research “Wireless Microphone - Asia Pacific (APAC) Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023, the APAC wireless microphone market is expected to be valued at US$611.4 Mn by 2023. The market is anticipated to expand at a CAGR of 9.8% during the forecast period from 2015 to 2023. Furthermore, the volume generated in the APAC wireless microphone market for 2014 was 1.41 Mn units and is expected to grow at a CAGR of 9.4% during the forecast period from 2015 to 2023.

The growth of the media and entertainment industry in Asia Pacific, coupled with a rise in the number of sporting events is the key driving factor for the APAC wireless microphone market. Moreover, the superiority of wireless microphones over traditional wired microphones has increased their uptake across all end-use sectors. Wireless microphones offer enhanced comfort, improved efficiency and robustness, and increased lifespan, all of which make them preferable to end-users. However, : interference issues from other wireless transmitters, computers, lighting controllers, electric motors, electrical equipment, TV stations, and lightning challenge the growth of the wireless microphones market. Moreover, the complexity of their integration with existing audio systems owing to differences between the technologies acts as another restraining factor for this market.

Rest of APAC was the largest geographical market for wireless microphones in 2014, accounting for around one-third of the market. The high demand from this region can be attributed to growth in countries such as India, Japan, Hong Kong, and Taiwan. The high rate of digitization in countries such as India and infrastructural reforms in Japan are some of the factors that would maintain the high growth of wireless microphones in Rest of APAC. China is expected to be the second-fastest-growing market for wireless microphones, with an estimated CAGR of 9.9% during the forecast period (2015–2023). The demand for wireless microphones from China largely comes from the events and large venue application segments. Moreover, corporate usage and hospitality also contribute to the growth of the market in the country.

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In terms of segmentation by technology, radio frequency (RF) by frequency was the largest segment of the wireless microphone market, accounting for approximately 82% of the total market in 2014. However, wireless microphones incorporating Wi-Fi technology are expected to be the fastest-growing segment by technology. Wi-Fi-based wireless microphones offer a broader range of channels and more voice clarity than RF-based wireless microphones, which is expected to boost their market growth in the coming years.

Some of the key manufacturers of wireless microphones are Shure Incorporated, Sennheiser electronic GmbH & Co. KG, Sony Electronics, Inc., Audio-Technica Corporation, Yamaha Corporation, LEWITT GmbH, Samson Technologies Inc., Rode Microphones, AKG Acoustics, Blue Microphones, and inMusic Brands, Inc.