The microphone market size is estimated to grow from US$ 4.25 billion in 2022 to US$ 6.92 billion by 2030, projected to grow at a CAGR of 6.5% from 2022 to 2030.
Analyst Perspective:
The microphone market has witnessed significant growth in recent years. Factors such as the rising demand for consumer electronics, such as smartphones, tablets, smart speakers, and wearable devices, are significant drivers for the microphone market and are expected to contribute to the expansion of the microphone market.
Market Overview:
A microphone is an essential audio device for capturing sound waves and converting them into electrical signals for amplification, recording, or transmission. It plays a vital role in various industries, such as broadcasting, music production, public speaking, telecommunications, and live events. The COVID-19 pandemic has brought about significant changes in consumer behavior, particularly in countries like India, where internet data prices are highly affordable. As a result, there has been a notable increase in online content consumption, with platforms such as YouTube, Facebook, and Instagram experiencing a surge in subscriber numbers. Recognizing this trend, several microphone companies have seized the opportunity to cater to the growing demand from content creators. A case in point is the German audio company Sennheiser, which introduced the XS Lavmicrophone in July 2021. This product, available in two variants, is specifically designed to meet the needs of content creators in the Indian market. By capitalizing on the shifting consumer preferences and the rising popularity of online content creation, microphone companies are strategically launching new products to target this expanding segment of users.
The proliferation of smartphones is a significant driver in the global growth of the microphone market. The demand for microphones directly correlates to the increasing adoption of mobile devices. Mobile penetration rates rapidly expand worldwide, focusing on younger demographics who possess smartphones, have internet access, and actively engage with social media platforms. According to Ericsson, smartphone users are projected to exceed 7.69 billion by 2027, surpassing the current figure of 6.25 billion in 2021.
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Microphone Market: Strategic Insights
Market Size Value in US$ 4.25 billion in 2022 Market Size Value by US$ 6.92 billion by 2030 Growth rate CAGR of 6.5% from 2022 to 2030 Forecast Period 2022-2030 Base Year 2022
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Microphone Market: Strategic Insights
| Market Size Value in | US$ 4.25 billion in 2022 |
| Market Size Value by | US$ 6.92 billion by 2030 |
| Growth rate | CAGR of 6.5% from 2022 to 2030 |
| Forecast Period | 2022-2030 |
| Base Year | 2022 |
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Market Driver:
Proliferation of Smartphones to Drive Growth of The Microphone Market
The proliferation of smartphones is a significant driver in the global growth of the microphone market. The demand for microphones directly correlates to the increasing adoption of mobile devices. Mobile penetration rates rapidly expand worldwide, focusing on younger demographics who possess smartphones, have internet access, and actively engage with social media platforms. According to Ericsson, smartphone users are projected to exceed 7.69 billion by 2027, surpassing the current figure of 6.25 billion in 2021. This substantial growth in smartphone users presents a lucrative opportunity for businesses operating in the microphone market. By recognizing the strong correlation between mobile device usage and the demand for microphones, companies can strategically position themselves to capitalize on the expanding consumer base and align their product offerings to cater to the evolving needs of smartphone users globally. Microphone provides benefits such as:
- Efficient Voice Input
- Real-Time Sound Manipulation
- Improved Safety and Security
- Affordability
- High Sound Pressure Tolerance
- Rugged Construction
- Power Efficiency
- Interoperability and Integration
- Customization and Adaptability
These benefits collectively contribute to the development of the microphone market growth.
Segmentation and Scope:
The "Microphone Market" is segmented based on MEMS type, technology, application, and geography. Based on the MEMS type, the microphone market is segmented by analog and digital. The microphone market is segmented into wired and wireless based on the technology. Based on application, the microphone market is segmented into automotive, commercial, consumer electronics, industrial, medical, and others. Based on geography, the microphone market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South America.
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Segmental Analysis:
Based on technology, the market is segmented into wired and wireless. The wireless segment holds a significant market share in the microphone industry. The segment is experiencing growth primarily due to the increasing popularity of wireless technology. This is driven by the widespread adoption of smartphones and wireless portable devices, significant investments in research and development for wireless audio devices, and the high demand for wireless devices in providing infotainment services. Sony India's recent product launch in May 2021 is a notable example of this market trend. Sony introduced two new microphones: the ECM-W2BT multi-Interface Shoe compatible wireless microphone and the ECM-LV1 compact stereo lavalier microphone. These products are designed to support stereo audio input using an external 3.5mm stereo mini jack, enabling users to capture high-quality stereo sound. Businesses in this industry are investing in research and development to meet the evolving demands of consumers seeking advanced wireless microphone options for various applications such as content creation, broadcasting, live performances, and more.
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Regional Analysis:
The North American microphone market growth has gained prominence in the region thanks to well-established manufacturing facilities of renowned companies like Audio-Technica U.S., Inc., Harman International Industries, Incorporated, and others. This region's continuous adoption of hearing aids, smartphones, consumer electronics, and virtual reality (VR) devices has created a favorable environment for significant growth in the microphone industry.
Additionally, the rising popularity of video logging in North America has contributed to the increased demand for RF-enabled (radio frequency) microphone products, which enable effective sound recording, thereby driving the region's market growth. This trend aligns with the region's growing preference for high-quality audio solutions in various sectors, including content creation, live streaming, broadcasting, and more.
With the market poised for substantial expansion, businesses operating in the North American microphone industry can leverage these opportunities by catering to the increasing demand for advanced and innovative microphone technologies. This includes developing products that cater to the evolving needs of consumers, offering enhanced sound quality, improved connectivity options, and seamless integration with a wide range of devices.
Key Player Analysis:
The microphone market analysis consists of players such as AAC Technologies., TDK Corporation, Goertek, Cognex Corporation, STMicroelectronics, Infineon Technologies, Microscan Systems Inc., ZillTek Technology, BSE, Gettop Acoustic, and Hosiden Corporation, are among the vital microphone market players profiled in the report.
Recent Developments:
Inorganic and organic strategies such as mergers and acquisitions are highly adopted by companies in the market. A few recent key market developments are listed below:
- In January 2023, AAC Technologies Holdings Inc., a global leader in providing comprehensive solutions, announced a strategic partnership with Soundskrit, an innovative audio company. This collaboration aims to revolutionize microphone performance through advanced hardware and software technologies. The partnership will enable widespread access to directional MEMS microphone technologies for end-user customers in the consumer electronics and automotive markets.
- In November 2023, TDK Corporation unveiled its newest line of compact noise suppression filters, the MAF1005FR series. These filters are tiny, measuring just 1.0 mm in length, 0.5 mm in width, and 0.5 mm in height. They have been specifically designed to enhance the audio quality and minimize noise interference in the audio lines of various devices, including smartphones, tablets, wearables, and portable gaming devices. The newly introduced MAF1005FR series of noise suppression filters offers remarkable enhancements to sound quality and reduction in noise interference. These filters exhibit a typical impedance of up to 2600 Ω at 900 MHz and an impressive insertion loss of over 25 dB. These improvements are made possible through the utilization of innovative low-distortion ferrite materials. This not only ensures the preservation of sound quality but also effectively resolves the problem of sound degradation caused by chip beads.
- In January 2022, TDK Corporation unveiled the T5828 SoundWire™ MEMS microphone, a part of their SmartSound™ family of high-performance products. This microphone is specifically designed to cater to the needs of mobile devices, True Wireless Stereo (TWS) earbuds, Internet of Things (IoT) appliances, and other consumer electronics. The SmartSound family of products from TDK pushes the boundaries of microphone acoustic performance, offering advanced features in compact package sizes. The T5828 SoundWire™ MEMS microphone stands out with its impressive specifications, including a high Acoustic Overload Point (AOP) of 133dB SPL, a high Signal-to-Noise Ratio (SNR) of 68dBA, and a wide dynamic range. These features make it particularly suitable for environments that experience a wide range of sound levels, ranging from very quiet to very loud.
- In May 2022, Infineon Technologies AG has recently unveiled its latest XENSIV™ MEMS microphones, which set a new standard in the industry. These innovative microphones, the IM69D127, IM73A135, and IM72D128, are the latest additions to Infineon's expanding microphone portfolio. With the inclusion of selectable power modes, these MEMS microphones are specifically designed to meet the demands of consumer electronics, including headphones with active noise cancellation (ANC), True Wireless Stereo (TWS) earbuds, conference devices with beamforming capabilities, laptops, tablets, and smart speakers with voice-user-interfaces.
- In June 2021, TDK Corporation launched a series of three new MEMS microphones under the SmartSound product line. These microphones are specifically designed to cater to the needs of mobile devices, Internet of Things (IoT) devices, and other consumer electronics. The SmartSound family of MEMS microphones from TDK offers versatile solutions for various applications, particularly in dynamic environments. These microphones have high Acoustic Overload Point (AOP) features, high signal-to-noise ratio (SNR), and a wide dynamic range. This makes them particularly suitable for environments that experience a wide range of sound levels, transitioning from very quiet to very loud. One application where these microphones excel is far-field voice pickup with barge-in capabilities, which is highly desirable for Smart Speaker applications.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
MEMS Type, Technology, Application, and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
The List of Companies
1. Knowles Electronics, LLC.
2. AAC Technologies
3. TDK Corporation
4. STMicroelectronics
5. Robert Bosch LLC
6. BSE Co., Ltd.
7. Hosiden Corporation
8. Infineon Technologies AG
9. Sonion
10. Vesper Technologies, Inc.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
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- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
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