Wireless Microphone Market Size 2024 And Growth Rate

The wireless microphone market size has grown strongly in recent years. It will grow from $1.9 billion in 2023 to $2.04 billion in 2024 at a compound annual growth rate (CAGR) of 7.4%. The growth in the historic period can be attributed to entertainment industry growth, diversity receivers, wireless connectivity, regulatory changes, live events and conferences.

Wireless Microphone Market Growth Forecast

The wireless microphone market size is expected to see strong growth in the next few years. It will grow to $2.71 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%. The growth in the forecast period can be attributed to 5g network expansion, remote work and virtual events, emerging markets, byod (bring your own device), ai and smart microphones. Major trends in the forecast period include digital wireless technology, increased spectrum efficiency, diversity receivers, advanced noise cancellation, wearable microphones.

Wireless Microphone Market Driver: Consumer Electronics Boom Fuels Growth In The Wireless Microphone Market

The rising demand for consumer electronics is expected to propel the growth of the wireless microphone market going forward. Consumer electronics (CE) refers to any electronic device designed to be purchased and used by end users or consumers for non-commercial or professional purposes daily. Consumers increasingly use wireless microphones in various applications such as sports, concerts, interviews, and creating YouTube videos, where mobility is critical as it enables the user's voice to be transferred wirelessly to the sound system's receiver. For instance, in 2021, according to a market figure published by GFU Consumer and Home Electronics GmbH, a Germany-based consumer electronics company, the consumer electronics segment is up 2.5% with 30.5 billion Euros in sales in 2021. Additionally, the segment of IT goods for private use grew positively, increasing by 3.1% to 8.5 billion euros. Therefore, the rising demand for consumer electronics is driving the growth of the wireless microphone market.

Wireless Microphone Market Driver: Growth In Media And Entertainment Is Anticipated To Fuel The Wireless Microphone Market

The growth in media and entertainment is expected to propel the growth of the wireless microphone market going forward. Media and entertainment refer to a broad category of industries that produce and distribute content to entertain, inform, or engage audiences. Wireless microphones provide seamless audio capture for on-the-go reporting, live performances, and film production in the media and entertainment industry. For instance, in July 2022, according to Draup, a US-based enterprise decision-making platform, the worldwide Media and Entertainment industry is projected to achieve a value of USD 2.5 trillion by 2025, expanding at a CAGR of 5.46%. Therefore, the growth in media and entertainment is driving the wireless microphone market.

Global Wireless Microphone Market Major Players

Major companies operating in the wireless microphone market include Yamaha Unified Communications Inc., Sony Electronics Inc., Sennheiser electronic GmbH & Co. KG, Shure Incorporated, Audio-Technica Corporation, RØDE Microphones, LEWITT GmbH, Cirrus Logic Inc., Lectrosonics Inc., Saramonic International Co Ltd, TONOR, Phenyx Pro, Honeywell Home and Building Technologies, Crestron Electronics Inc., Harman International Industries Inc, JBL Professional, MIPRO Electronics Co. Ltd., AKG Acoustics GmbH, Rode Wireless Go, Samson Technologies Corp, Electro-Voice RE3, Heil Sound Ltd., Beyerdynamic GmbH & Co. KG, Line 6 Inc., Nady Systems Inc., Chord Electronics Ltd., Amber Technology, Alto Professional

Global Wireless Microphone Market Trend: Innovative Solutions To Cater To Filmmakers And Content Creators

Major companies operating in the wireless microphone market are launching innovative solutions, such as compact wireless microphones, to cater to filmmakers and content creators. Compact wireless microphones are small, portable audio devices that transmit sound signals without the need for physical cables. For instance, in August 2023, Røde Microphones, an Australia-based audio technology company, launched Wireless PRO, a compact dual-channel wireless microphone system with a range of up to 260m. Compatible with cameras, smartphones, and computers, it offers 32-bit float on-board recording with a 32GB memory, ensuring approximately 40 hours of recording without audio clipping. The system utilizes Rode's series IV 2.4GHz digital transmission with 128-bit encryption and has features like a 30dB gain range, pre-configured camera presets, and an internal timecode generator syncable via the Rode Central app.

Global Wireless Microphone Market Trend: New Microphones To Elevate Audio For Vloggers And Podcasters

Major companies operating in the wireless microphone market are launching new microphones to cater to filmmakers and content creators. These mics are designed to seamlessly deliver high-quality sound with reduced noise integrated. For instance, in October 2023, Sony, a Japan-based manufacturer of electronic equipment, expanded its audio equipment lineup with the launch of three new microphones: the ECM-W3, ECM-W3S, and ECM-S1. The ECM-W3 is designed with a two-channel receiver and two microphones, focusing on delivering high-quality sound with reduced noise, especially in environments away from the camera. It's further enhanced with digital signal processing for effective noise reduction and is compatible with a digital audio interface. On the other hand, the ECM-W3S is a more streamlined version with a single-channel receiver and one microphone. This model shares many of the features of the ECM-W3, including low power consumption and Bluetooth 5.3 support.

Wireless Microphone Market Merger And Acquisition: Vitec Imaging Solutions Enhances Audio Capabilities With The Acquisition Of Audix Corporation

In January 2022, Vitec Imaging Solutions, an Italy-based premium branded hardware, and software solutions provider acquired Audix Corporation for an undisclosed amount. With the acquisition, Audix accelerates and strengthens its audio capture strategy by bringing additional specialist R&D capabilities to enable the Group to design and build microphones in-house. Audix Corporation is a US-based designer and manufacturer of wireless microphones and electronic components.

Regional Outlook For The Global Wireless Microphone Market

North America was the largest region in the wireless microphone market in 2023. Asia-Pacific is expected to be the fastest-growing region in the wireless microphone market report during the forecast period. The regions covered in the wireless microphone market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the wireless microphone market report include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The wireless microphone market consists of sales of wireless microphones by direction including cardioid, hyper-cardioid, sub cardioid, and bidirectional. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The wireless microphone market research report is one of a series of new reports from The Business Research Company that provides wireless microphone market statistics, including wireless microphone industry global market size, regional shares, competitors with a wireless microphone market share, detailed wireless microphone market segments, market trends and opportunities, and any further data you may need to thrive in the