Global Commercial Microphone Market is forecast to reach $2.04 Billionby 2025, growing at a CAGR of 5.3%during the forecast period from 2020 to 2025. The Commercial Microphone market is driven primarily by the factors such as increasing demand from educational institutions due to higher productivity of students and demands from online performing artists. Rising adoption of commercial microphones due to rapid technological advancements as well growth of consumer electronics industry.
• Wireless microphones have caused high demands in the commercial microphone market prior to its improved flexibility and sound performance.
• RODE Microphones and Audio-Technica Corporationare some of the major players who have helped in fuelling the market growth in Asia Pacific region.
• Rising adoption by education sector along with growing demands of online platforms are the major driving factors for the high growth of commercial microphones in the market.
Technology- Segment Analysis
As compared to wired microphones, wireless microphones are facing high demands in the commercial microphone market. Growing adoption of smartphones and vlogging has been fuelling the market demand towards wireless microphones. Deploying on technologies like wifi, Bluetooth and many others have caused huge dominance of wireless microphones in the market. Wireless microphones provides better sound performance along with high flexibility as it removes the need for cables unlike wired ones, thus gaining high popularity in the market. With the help of wireless microphones, conferencing becomes more efficient, thus propelling its market demand.
Geography – Segment Analysis
Asia Pacific is expected to have a major growth in the global Commercial Microphonemarket during the forecast period from 2020 to 2025. Presence of key players such as RODE Microphones and Audio-Technica Corporationare providing a major contributiontowards the growth of commercial microphone market. Rising technological growth along with rising adoption by major industry verticals are fuelling the growth of commercial microphone market in this region.
Drivers –Commercial Microphone Market
• Growing adoption by education sector
With rapid technological advancements, modernisation of education system is causing major demands towards commercial microphone market. As commercial microphones helps in improving teaching standards within a large group along with reducing teachers efforts, they are getting widely deployed in educational institutes. Moreover, commercial microphones help students towards better learning by improved speech intelligibility and comprehension. Educational institutions have been widely deploying these microphones while addressing school/college programs, assemblies, online classes along with many other applications, thus causing significant market growth. Rising growth of wireless microphones having Bluetooth and wifi connecting facilities had been also propelling the market demand towards commercial microphones.
• Rising growth of online platforms
Commercial Microphones have been facing huge demands due to rising adoption for online platforms. Video podcasting, Vlogging and many others are the major areas which have been deploying commercial microphones. Adoption of commercial microphones while recording videos for online platforms have been showing a substantial rise in the market growth. Online platforms such as youtube are helping in encouraging talents like music, fashion blogging along with many others. High deployments of commercial microphones by content creators and artists nowadays have been causing major demands in the market.
Challenges – Commercial Microphone Market
• Higher cost and maintenance
A major challenge faced by the Commercial Microphone market is the high costs. Since these micro phone sare used for various demanding applications, they incur high costs reducing its affordability rate. Moreover, rising developments of commercial microphones has been also acting as a major factor towards increasing costs. Commercial microphones also face issues of wear and tear due to battery life, thus causing additional maintenance costs. Commercial microphones are more prone to issues like battery damage incase of prolonged usage, which causes maintenance requirements. This leads to higher investments by the users, thus restraining the market growth of commercial microphones.
Partnerships and acquisitions along with product launches are the key strategies of the players in the Commercial Microphone market. The major key players in the Commercial Microphone Market include Blue Microphones, RODE Microphones, Sennheiser electronic GmbH & Co. KG, Audio-Technica Corporation, Shure Incorporated, Sony Electronics Inc., Samson Technologies Corporation, AKG Acoustics GmbH, Electro-Voice and AAC Technologies.
- In February 2020, Sony Electronics Inc. launched a ceiling beamforming microphone in order to offer an advanced audio solution for enterprises. This microphone was developed to help enterprises in offering flexible hands free lectures and presentations. With dual channel output for simultaneous recording, this microphone helps in improving audio experience across education and corporate organizations.
- In September 2019, Blue had introduced Yeti X USB microphone for use in gaming, streaming as well as podcasting. Combined with Blue voice technology, this yeti microphone was designed to help content creators in improving dial up professional vocal effects along with custom presents with a push of button. The four capsule condenser microphone array helps in providing exceptional clarity along with real time feedback for vocal levels and multi-function smart knob for instant control.