Microphones Global Market To Reach Value Of About $2 Billion In 2025
24 Sep, 2021
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.
Global Microphones Market Size And Drivers:
The global microphones market is expected to grow from $1.87 billion in 2020 to $2.21 billion in 2021 at a compound annual growth rate (CAGR) of 18.2%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $2.41 billion in 2025 at a CAGR of 2%. Widespread adoption of smartphones globally contributing to the growth of the microphones market. The demand for mobiles is directly proportional to demand for microphones.
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Trends In The Global Microphones Market
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.
Global Microphones Market Segments:
The global microphones market is further segmented –
By Product Type: Wired Microphones, Wireless Microphones
By End-User: Studio & Broadcasting, Large Venues and Events, Educational Institutions, Government and Military, Corporate, Hospitality
By Application: Automotive, Commercial Security & Surveillance, Consumer Electronics, Industrial, Medical, Noise Monitoring & Sensing
By Technology: Electret, MEMS, Others
By Geography: The global microphones market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Read More On The Report For The Global Microphones Market At:
https://www.thebusinessresearchcompany.com/report/microphones-global-market-reportMicrophones Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides microphones market overviews, analyzes and forecasts market size and growth for the global microphones market, microphones market share, microphones market players, microphones market segments and geographies, microphones market’s leading competitors’ revenues, profiles and market shares. The microphones market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.