Microphone Market Size, Share & Trends Analysis Report By Connectivity (USB Microphones, XLR Microphones), By Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa), And Segment Forecasts, 2022 - 2030

Report Overview

The global microphone market was valued at USD 6.33 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 5.4% from 2022 to 2030. The surge in demand for hearing aids and virtual reality (VR) headsets is expected to drive the demand for microphones worldwide. Likewise, high demand for smartphones is expected to support the growth of the microphones market. According to a report published by Pew Research Center in 2019, more than five million people worldwide own a mobile phone, with half of them being smartphones.

Mobile penetration is increasing day by day across the world. Younger people more commonly use social media through smartphones to stay connected. According to Pew Research Center surveys conducted in 2019, 76% of people have smartphones, while 45% have them in emerging economies. Sixty-nine percent of Japanese men own smartphones, and sixty-three percent of Japanese women do. The percentage of women who owned smartphones in 2019 was 57%, and this percentage in the case of men was 63%.

The increasing issue of hearing impairment among the elderly has triggered the demand for hearing aids that deploy high-quality microphones. The microphones such as omnidirectional and directional microphones enable the user to hear clearly in case of a complex and noisy environment. Likewise, the rising adoption of wireless microphones across public speaking, television broadcasting, and entertainment segments is expected to drive the microphone market demand.

High demand for the given product from the government and defense sector due to their applicability in security, surveillance, and espionage is expected to support the market growth. Also, the rising adoption of IoT-enabled devices has paved the way for new opportunities in the market. The adoption of IoT and virtual reality technology across several consumer electronic devices has benefited the market to deliver cutting-edge innovative features such as 3D audio systems, sound detection sensors, and more.

A 3D audio system using IoT and VR will provide users with a surreal experience. For instance, three-dimensional microphones are deployed to capture virtual reality content and 360-degree audio. The integration can be demonstrated by the recent construction of a VR Star theme park in China, which aims to enhance consumers' immersive experiences.

Fluctuating raw material prices and supply chain disruptions due to the COVID-19 pandemic are factors expected to challenge the growth of the global microphones market. Raw materials are sourced from different countries and the supply of these materials is largely subject to fluctuations in commodity markets and exchange rates. Such fluctuations tend to have adverse effects on the supply chain and are expected to pose a major challenge for key vendors operating in the microphone industry.

Connectivity Insights

It is expected that the USB microphone segment will advance at a growth rate of over 6.6% during the forecast period. This can be attributed to the rising demand from music studios, live online music streaming, music events, business development initiatives, lectures, and more. During the COVID-19 pandemic, consumers' spending habits and hobbies changed, with many opting to the podcast, stream games, and create video blogs & music on a recreational or semi-professional basis.

Several prominent players are introducing USB microphones embedded with advanced features. For instance, in January 2022, Harman International Industries introduced JBL Quantum Stream, a USB microphone that is embedded with a dual condenser microphone that enables crystal-clear sound quality.

The XLR microphone segment accounted for the major market revenue share of around 80.6% in 2021. This dominance can be attributed to the increasing demand for better sound quality for professional recordings, content creation, voice-over streaming, and more. The XLR microphone is preferred over its USB counterpart for a better sound quality system.

Regional Insights

During the forecast period, Asia Pacific is expected to expand at the highest CAGR of 7.2%. The Asia Pacific region has a significant number of mid-range and low-end cars with infotainment systems. In the region, MEMS (micro-electro-mechanical systems) microphones are also utilized for automotive connectivity such as in-car devices. For instance, Infineon Technologies AG launched XENSIV IM67D130A, a digital MEMS microphone for connectivity that enables in-cabin-communication, and voice recognition features.

Furthermore, innovations in conventional devices to recently developed medical tools such as electronic stethoscopes and hearing aids have directly aided the microphone industry growth. Prominent players such as TDK Corporation and Hosiden Corporation are expected to do well in the microphone industry. Several established players, like Samsung Electronics and LG Electronics, give manufacturing contracts to these established companies.

North America is a substantial contributor to the microphone market revenue and accounted for a revenue share of 38.19% in 2021. The market has paved the way in the region due to the presence of manufacturing facilities for established companies including Audio-Technica U.S., Inc., Harman International Industries, Incorporated, and among others. As a result of the region's continued deployment of hearing aids, smartphones, other consumer electronics, and VR devices, the North American microphone industry is expected to grow significantly during the forecast period.

Furthermore, the region's growing popularity in video logging has facilitated the use of RF-enabled products for effective sound recording. On the other hand, Latin America is expected to foster profitable market growth during the forecast period, because of the region's rapidly developing media industry.

Key Companies & Market Share Insights

Key players operating in the global microphone industry are concentrating on launching new products and services that will enable them to draw in more clients and therefore grow their business. The industry is distinguished by the existence of both large and small manufacturers. Pricing and product quality are important differentiators that lay the groundwork for competition. Well-known industrial suppliers have authorized distribution networks that deliver goods to numerous regions. Industry participants can create new products or innovate old ones on account of external factors such as changing regulations. Some prominent players in the global microphone market include:

• AAC Technologies

• TDK Corporation

• Goertek

• Cognex Corporation

• STMicroelectronics

• Infineon Technologies

• Microscan Systems Inc.

• ZillTek Technology

• BSE

• Gettop Acoustic

• Hosiden Corporation

Microphone Market Report Scope

Global Microphone Market Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global microphone market report based on connectivity and region:

• Connectivity Outlook (Revenue, USD Million, 2018 - 2030)

  • USB Microphones

  • XLR Microphones

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • France

    • Rest of Europe

  • Asia Pacific

    • China

    • India

    • Japan

    • Rest of Asia Pacific

  • Latin America

    • Brazil

    • Mexico

    • Rest of Latin America

  • Middle East & Africa