According to a new market research "Microphone Market with COVID-19 Impact by Technology (MEMS, Electret, Other), by MEMS Type, by Communication Technology, by Application (Automotive, Consumer Electronics, Industrial, Medical, and Sensing), & by Geography - Global Forecast to 2025", published by MarketsandMarkets™, the global Microphone Market is estimated to be USD 2.3 billion by 2025 (forecast year) from USD 1.6 billion in 2020 (estimated year), at a CAGR of 7.9% between 2020 to 2025.
The growth of the microphone market is fueled by high adoption of next-generation consumer electronics, elevated use of piezoelectric microphones in IoT applications, escalated demand for modern microphones for use in smart wearable devices, and increased number of microphones per device. Moreover, factors such as increasing utilization of microphones in infotainment and safety monitoring systems in vehicles, growing demand for IoT enabled connected devices with voice command feature, and growing use of microphones in industrial applications for the evaluation of ambient or environmental noise play an important role in driving the growth of the market.
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The market for MEMS microphones expected to hold the largest market share during the forecast period
In 2019, the MEMS technology segment of microphones accounted for the largest share of the microphone market. Growth of this segment can be attributed to the various benefits provided by this microphone which includes improved sound-to-noise ratio (SNR), high integration level, high-performance density, less variation in sensitivity over temperatures, and low power consumption. Also, the reduced size of MEMS microphones makes them ideal for use in several small products such as wearables, wireless earphones, and hearing aids. The superior temperature stability and small form factors are also a few of the other advantages offered by the MEMS microphones.
Wireless microphones expected to grow at the highest CAGR during the forecast period
An exponential use of wireless microphones in concerts, musical events, sporting tournaments, and broadcasting studios is fueling the growth of the wireless microphone market across the world. In 2018, sponsorship investments in sports were worth nearly 46 billion. The increase in sponsorship investments in sports activities is expected to propel the demand for wireless microphones during the forecast period. Also, wireless microphones are used with various consumer electronic devices, such as smartphones and tablets.
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128 – Tables
66 – Figures
187 – Pages
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Americas is projected to hold the largest share of microphone market in 2025
Americas is expected to hold the largest share of the microphone market in 2025. The Americas is a huge adopter of smart electronic devices. This has helped the consumer electronics manufacturers to introduce higher-end devices in this region. The acceptance of the latest technology trends and the adoption of MEMS microphones by the majority of consumer electronics manufacturers have stimulated the growth of the microphone in the Americas. Also, some players from the consumer electronics industry such as Apple and Samsung are adding more numbers of microphones per device to ensure improved acoustical performance, which is crucial for the consumer-driven market in the Americas. Also, the sensitivity to detect low-level sounds can be increased by maximizing the number of microphones. Similarly, wearable devices have gained popularity in recent years, and their market is growing at an impressive rate in the Americas. The use of microphones in such wearable devices enables manufacturers to add voice recording and voice command features. All these factors contribute to the growth of the microphone market in the region.
The report profiles key players, including Knowles (US), AAC Technologies (China), TDK (Japan), Goertek (China), STMicroelectronics (Switzerland), Robert Bosch (Germany), BSE (South Korea), Cirrus Logic (US), Hosiden Corporation (Japan), and Gettop Acoustic (China). These companies focus on adopting both organic and inorganic growth strategies, such as new product launches, partnerships, and mergers and acquisitions to strengthen their position in the market.
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