What is the global market size of Wireless Microphone Market?

Global Wireless Microphone Market size was valued at USD 1.59 billion in 2021 and is poised to grow from USD 1.72 billion in 2022 to USD 3.02 billion by 2030, growing at a CAGR of 8.57% in the forecast period (2023-2030).

Global Wireless Microphone Market Size, Share, Growth Analysis, By Type(Handheld, Clip-on), By Technology(Radio Frequency, Bluetooth), By Application(Corporate, Entertainment), By Frequency(Ultra-high Frequency, Very High Frequency), By Distribution Channel(Online, Offline) - Industry Forecast 2024-2031

Report ID: SQSG45K2004 | Region: Global | Published Date: February, 2024
Pages: 165 | Tables: 150 | Figures: 78

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Global Wireless Microphone Market size was valued at USD 1.59 billion in 2019 and is poised to grow from USD 1.72 billion in 2023 to USD 3.02 billion by 2031, growing at a CAGR of 8.57% in the forecast period (2024-2031).

The market for wireless microphones is massively competitive and has players spread across various parts of the world. Key players are undergoing mergers and acquisitions to surpass the boundaries and extent beyond their current presence. For instance, Audio-Technica had partnered with RP tech India with intention to become the national distributor of headphones manufactured by Audio-Technica. 'Shure Incorporated', 'Sennheiser Electronic GmbH & Co. KG', 'Audio-Technica Corporation', 'AKG Acoustics GmbH', 'Rode Microphones', 'Sony Corporation', 'Samson Technologies Corp.', 'Blue Microphones', 'Electro-Voice (EV)', 'Beyerdynamic GmbH & Co. KG', 'Lectrosonics, Inc.', 'TOA Corporation', 'Line 6, Inc.', 'MIPRO Electronics Co. Ltd.', 'Yamaha Corporation', 'Audio Ltd.', 'Trantec Solids, Ltd.', 'Revolabs, Inc.', 'Peavey Electronics Corporation', 'Anchor Audio Inc'

Growing attraction towards events and concerts is expected to drive the market in coming years

The need for various types of wireless microphone-related items has expanded as the automobile industry becomes more automated. These products are utilised in telematics, controllers, power integrated devices, driver assistance systems, and global positioning systems (GPS). Electric vehicles (EVs) and driverless vehicles both use these components often. Thus, it is anticipated that increased demand for electric vehicles will accelerate product acceptance during the projection period. The manufacturing sector is undergoing a rapid transformation as a result of connected technology.

Over the course of the forecast period, North America is anticipated to hold the greatest market share in the wireless microphone industry, followed by Europe. It is anticipated that the market would expand in tandem with Northern America's expanding entertainment and media sector. One of the main growth drivers for the wireless microphone market in the North American region is the rise in the deployment of smart traffic management systems in a number of North American nations, including the U.S., Canada, and Mexico, to handle the traffic-related problem.

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