The global microphone market is expected to be valued at USD 2,454 million in 2023 and is projected to reach USD 3,526 million by 2028; it is expected to grow at a CAGR of 7.5% from 2023 to 2028.
The proliferation of IoT devices has contributed to the growth of the microphone market. IoT applications such as voice-controlled home automation systems, smart appliances, and voice assistants require microphones to enable voice commands and voice recognition capabilities.
Key Players:
The microphone market includes major Tier I and II players like Knowles Electronics LLC (US), Goertek (China), AAC Technologies (China), TDK Corporation (Japan), Infineon Technologies (Germany), and others.
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Microphone market for a wireless segment to hold the highest CAGR during the forecast period.
Advancements in wireless technology have significantly improved the reliability and range of wireless microphones. Modern wireless microphone systems use robust transmission techniques and advanced frequency management systems to ensure reliable and interference-free operation. This allows users to achieve stable and high-quality audio performance over extended distances, making wireless microphones suitable for large venues and outdoor events.
Microphone market for consumer electronics applications holds the highest market share during the forecast period.
Voice-enabled devices such as smartphones, smart speakers, wearable devices, and virtual assistants have gained significant popularity among consumers. These devices rely on high-quality microphones to enable voice commands, voice recognition, and voice-controlled features. As the demand for voice-enabled devices continues to rise, the need for microphones in the consumer electronics market grows accordingly. The rise of social media platforms, streaming services, and online content creation has led to an increased demand for microphones in the consumer electronics market. Content creators, vloggers, podcasters, and influencers require high-quality microphones to capture professional-grade audio for their videos, podcasts, and live streams. The demand for consumer-grade microphones grows as more individuals engage in multimedia production and content creation.
Microphone market for the electret microphone segment to hold the second highest market share during the forecast period.
Electret microphones are known for their compact size and low manufacturing cost. Their small form factor makes them suitable for integration into various consumer electronic devices such as smartphones, laptops, tablets, and wearable devices. The cost-effectiveness of electret microphones makes them an attractive choice for manufacturers looking to incorporate audio capture capabilities into their products without significantly increasing the overall cost. Additionally, electret microphones are utilized in automotive systems, healthcare devices, security systems, and industrial applications. The versatility and adaptability of electret microphones to various applications contribute to their market growth.
Microphone market for Asia Pacific to hold the highest CAGR during the forecast period.
The Asia Pacific region has a large and rapidly expanding consumer electronics market. Countries like China, Japan, South Korea, and India have witnessed a surge in demand for smartphones, tablets, smart home devices, and other consumer electronic products. These devices often require microphones for voice calls, voice recognition, and other audio-related functionalities, driving the region’s microphone market’s growth. The Asia Pacific region is home to a significant automotive market, with countries like China, Japan, and South Korea being major automobile manufacturers. Microphones are increasingly integrated into vehicles for hands-free calling, voice-controlled infotainment systems, and in-car communication. As the automotive industry continues to grow in the region, the demand for microphones in automobiles increases as well.