Microphone Market Size (2024 - 2029)

Microphone Market Analysis

The Microphone Market is expected to register a CAGR of 7.21% during the forecast period (2022 - 2027). COVID-19 has changed lifestyles as more people consume content from the internet, especially in countries like India, where internet data prices are incredibly low. Sites like YouTube, Facebook, and Instagram witnessed a surge in the number of subscribers. Considering this, numerous microphone companies have released new products for content creators. For instance, in July 2021, German audio company, Sennheiser, launched XS Lavmicrophone, which comes in two variants for content creators in India.

The microphone is probably one of the most recognized electrical devices ever developed for widespread use. They guide the army during the war, provide millions of live sports broadcasts, announce details of presidential candidate races, announce the president's passage, and send trillions and trillions of telephone calls. With the proliferation of audio applications and features, microphone technology is becoming more and more critical. Different applications need to consider various factors, from audio quality to water and dust robustness, size and cost.

The increasing demand for smartphones and the rising adoption of voice-enabled smart devices are some of the major factors expected to fuel the market studied over the forecast period. The total number of digital voice assistants in use globally is also expected to reach 6.38 billion by the end of 2022.

The spread of smartphones is contributing to the growth of the microphone market worldwide. Mobile demand is directly proportional to microphone demand. Mobile penetration is rapidly growing day by day across the globe. Younger people are more likely to have smartphones, access to the internet, and use social media to be digitally connected. According to Ericsson, the number of smartphone users is expected to cross 7.69 billion by 2027 compared to the existing figure of 6.25 billion in 2021.

Devices such as Amazon Alexa and Google Home are gaining popularity in both developing and developed countries. These devices are manufactured with heavy use of microphones that can respond to human voices. Moreover, according to a survey by Triton Digital, the share of individuals who own any smart speakers in the United States increased from 24% in 2020 to 32% in 2021.

Advances in automotive automation are driving demand for different types of wireless microphone products used in driving assistance systems, controllers, power integrated devices, telematics, and Global Positioning systems (GPS). These devices are widely used in electric vehicles (EVs) and self-driving cars. Therefore, the increase in demand for electric vehicles is estimated to spur product adoption over the forecast period. With the advent of connected technology, the manufacturing industry is changing rapidly.

Microphone Industry Segmentation

The scope of the study focuses on the market analysis of microphones sold across the globe. The study also tracks the key market parameters, underlying growth influencers, and major vendors operating in the industry, which supports the market estimations and growth rates over the forecast period. The scope of the report encompasses market sizing and forecast for segmentation by type, communication type, end-user vertical, and geography. The study further analyzes the impact of COVID-19 on the ecosystem.