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Asia Pacific Wireless Microphone Market to Gain Momentum, Rise in Media and Entertainment Industry to Boost Demand

The wireless microphone market in Asia Pacific has witnessed a substantial surge in demand in the recent times. The rise in the media and entertainment industry in this region has fueled the demand for microphones to a great extent and the advanced features offered by wireless microphones has given them an edge over conventional wired microphones in Asia Pacific.

According to a market study published by Transparency Market Research (TMR), the Asia Pacific wireless microphone market is likely to rise at a CAGR of 9.80% between 2015 and 2023 and increase from of a total value of US$267 mn in 2014 to an estimated of US$611.4 mn by the end of 2023. In terms of volume, the Asia Pacific wireless microphone market produced 1.41 mn units in 2014. The market is projected to expand its production capacity at a CAGR of 9.40% during the period from 2015 to 2023.

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Wi-Fi Technology to Gain Popularity in Future, Events to Remain Biggest Application Area of Wireless Microphones

The Asia Pacific wireless microphone market is studied on the basis of technology and application. Wi-Fi and radio frequency (RF) are the two main technologies utilized in wireless microphones. The RF-based wireless microphone segment took a lead in 2014 and generated US$220.3 mn, holding a share of around 82% in the overall market. However, the Wi-Fi-based wireless microphone segment is likely to register the fastest growth at a CAGR of 19.50% between 2015 and 2023 owing to a gradual shift in the focus of major manufacturers towards Wi-Fi-based wireless microphones in order to meet the rising demand.

The corporate sector, the hospitality industry, educational institutes, events, houses of worship, and large venues are the prime application areas of wireless microphones. The application of wireless microphones was the highest in events and the corporate sector in 2014. Experts anticipate events to remain the biggest application area of wireless microphones over the next few years.

Rest of Asia Pacific to Maintain Dominance in Asia Pacific Microphone Market

The Asia Pacific market for wireless microphones is spread across China, Oceania, ASEAN, and the Rest of Asia Pacific. Among these, the Rest of Asia Pacific occupied the leading position in 2014, holding a share of approximately 33% in the overall market. The economic rise of the nations such as India, Taiwan, Japan, and Hong Kong is the key factor, driving the growth of this market in the Rest of Asia Pacific. In addition, the increasing digitization in India and the infrastructural development in Japan are likely to enable the wireless microphone market maintain its pace of growth in Rest of Asia Pacific.

Analysts expect China to report the second fastest growth in the Asia Pacific wireless microphone market at a healthy CAGR of 9.90% between 2015 and 2023. The increasing number of sports and media events in China has raised the demand for wireless microphones from large venues, driving the China wireless microphone market significantly. The rising usage of wireless microphones in the corporate and hospitality sectors is also anticipated to aid the growth of this market in china over the next few years.

AKG Acoustics, LEWITT GmbH, Rode Microphones, Audio-Technica Corp., inMusic Brands Inc., Sennheiser electronic GmbH & Co. KG, Samson Technologies Inc., Yamaha Corp., Shure Inc., Blue Microphones, and Sony Electronics Inc. are some of the major manufacturers of wireless microphones in Asia Pacific.

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