Microphone Market Size, Share and Growth Analysis

Updated on : October 22, 2024

Microphone Market Size & Growth

The global microphone market size is expected to be valued at USD 2,454 million in 2023 and is projected to reach USD 3,526 million by 2028; growing at a CAGR of 7.5% during the forecast period from 2023 to 2028.

Continuous advancements in audio technology, including noise cancellation, beamforming, and high-fidelity audio capture, are boosting the demand for high-quality microphones in various industries, such as broadcasting, recording, gaming, and telecommunication. The growing trend of intelligent home automation and voice-controlled systems creates a demand for microphones in-home devices such as smart speakers, security systems, thermostats, and lighting control systems.

Microphone Market Forecast to 2028

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Microphone Market Trends:

Driver: Increasing demand for consumer electronics

The growing popularity of consumer electronics such as smartphones, laptops, tablets, and wearable devices is a significant driver for the microphone market. These devices require built-in microphones for voice input, voice recognition, video recording, and telecommunication purposes. The rising demand for smartphones with advanced features and voice-controlled virtual assistants like Siri, Google Assistant, and Alexa fuels the demand for high-quality microphones.

Restraint: Compatibility issues in the Microphone

Compatibility issues in the microphone market refer to the challenge of ensuring seamless connectivity and compatibility between microphones and various devices and platforms. As technology advances, there is an increasing variety of devices with different connectivity options, such as USB, XLR, wireless, and proprietary connectors. Each connectivity option may require a specific type of microphone or adapter for proper functionality.  Ensuring compatibility across this wide range of devices and platforms can significantly challenge microphone manufacturers.

Opportunity: Increasing demand for wearable and hearable devices

The increasing demand for wearable devices and hearables presents significant opportunities for microphone manufacturers. Wearable devices, such as smartwatches, fitness trackers, and AR glasses, are becoming more prevalent in various industries, including healthcare, fitness, communication, and entertainment. These devices often incorporate microphones to enable voice commands, phone calls, voice search, voice assistants, and other voice-controlled functionalities.

Challenge: Competition from established microphone manufacturers

The microphone market is characterized by intense competition, driven by the presence of established manufacturers and the entry of new companies into the industry. The microphone market is saturated with multiple manufacturers offering a wide range of products. This saturation makes it challenging for individual companies to differentiate their offerings and attract customers.

Microphone Market Ecosystem

The microphone market is dominated by established and financially sound manufacturers with extensive experience in the industry. These companies have diversified product portfolios, cutting-edge technologies, and strong global sales and marketing networks. Leading players in the market include Knowles Electronics LLC from the US, Goertek from China, AAC Technologies from China, TDK Corporation from Japan, and Infineon Technologies from Germany.

Microphone Market Segmentation

MEMS Microphones are expected to hold the highest market share during the forecast period

MEMS (Micro-Electro-Mechanical System) microphones are poised to experience the highest growth rate in the audio industry due to several key factors. MEMS microphones offer significant advantages over traditional electret condenser microphones in terms of size, power consumption, and durability. Their compact size allows for seamless integration into various electronic devices, including smartphones, wearables, and Internet of Things (IoT) devices. Additionally, MEMS microphones consume lower power, making them ideal for battery-powered applications and enabling extended device usage. Moreover, the increasing adoption of MEMS microphones in emerging markets, such as automotive and healthcare, contribute to their rapid growth. In the automotive sector, MEMS microphones are used for in-car communication, active noise cancellation, and voice recognition systems, enhancing the overall driving experience. In healthcare, MEMS microphones find applications in hearing aids, medical devices, and telemedicine solutions, facilitating better diagnostics and patient care.

Based on communication technology, the wired market for microphones to hold the second highest market share during the forecast period

Wired microphones have a long-standing reputation for reliability and stability. They offer a consistent and secure connection between the microphone and the audio system, ensuring uninterrupted audio transmission without the risk of wireless interference or signal dropouts. Wired microphones typically offer high-quality audio performance with minimal signal degradation or loss. They provide a direct and unaltered audio signal, resulting in accurate sound reproduction and clarity. This makes wired microphones ideal for critical applications such as studio recordings, live performances, and broadcast environments.

Industrial application for microphone market to hold the second highest market share

The increasing adoption of industrial automation and Internet of Things (IoT) technologies in manufacturing and industrial settings creates a demand for microphones. Microphones are used for audio sensing, voice control, and communication in smart factories, industrial robots, and automated systems. Microphones play a crucial role in industrial safety and security applications. They detect and monitor sounds such as alarms, sirens, machine malfunctions, and abnormal noise levels, ensuring a safe and secure working environment. These factors, along with advancements in microphone technology, increased focus on workplace safety and efficiency, and the need for intelligent industrial systems, drive the growth of the microphone market in the industrial sector.

Microphone Industry Regional Analysis

Microphone market in Asia Pacific to hold the highest CAGR during the forecast period

The rise in disposable income and urbanization in many countries within the Asia Pacific region has fueled the demand for consumer electronics and audio equipment. As more people in the region can afford these devices, the market for microphones used in these products experiences significant growth.  

The adoption of voice-enabled devices and applications is increasing in the Asia Pacific region. Smart speakers, virtual assistants, voice-controlled home automation systems, and voice recognition technology are gaining popularity. These devices and applications heavily rely on microphones for accurate voice capture and command recognition, leading to a growing microphone market.

Microphone Market by Region

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Top Microphone Companies - Key Market Players

 The microphone companies is dominated by players such as

• Knowles Electronics LLC (US), 
• Goertek (China), 
• AAC Technologies (China), 
• TDK Corporation (Japan), 
• Infineon Technologies (Germany),  and others.

Microphone Market Report Scope

Microphone Market Highlights

The study categorizes the microphone market based on the following segments:

Recent Developments in Microphone Industry

• In February 2023, AAC Technologies launched a complete set of automotive MEMS microphone modules to accelerate its automotive business. With an SNR ratio of 63 dB to 70 dB, these microphones can meet the application needs of different levels and scenarios.
• In February 2023, Infineon introduced the latest addition to the XENSIV MEMS microphone product portfolio, the ultra-low power digital microphone IM69D128S. The microphone is designed for applications that require a high signal-to-noise ratio (SNR) / low microphone self-noise, long battery life, and high reliability.
• In January 2023, TDK Corporation made an announcement regarding the release of the InvenSense T5838 and T5837 MEMS microphones. These microphones, namely the T5837 and T5838, are PDM MEMS microphones that boast the industry’s most energy-efficient Pulse Density Modulation (PDM) multi-mode functionality. Additionally, they possess a remarkably high acoustic overload point.
• In January 2023, Knowles introduced its latest series of SiSonic MEMS microphones: Titan (Digital), Falcon (Differential Analog), and Robin (Single Ended Analog). The new trio of microphones provides advanced performance capabilities for space-constrained Ear and wearable applications like True Wireless Stereo (TWS) earbuds, smart watches, Augmented Reality (AR) glasses, and Virtual Reality (VR) headsets.
• In December 2022, Knowles introduced two MEMS microphone solutions optimized for over-the-counter (OTC) hearing aids. These address the value-based segment of the OTC hearing aid category with reliable performance and lower power consumption than comparable commercial microphones.
• As a part of the SmartSound family of performance products for mobile, TWS, IoT, and other consumer devices, TDK Corporation unveiled the T5828 Sound Wire MEMS microphone in January 2022. These microphones, belonging to a range of high-performance options, redefine the limits of acoustic performance and deliver advanced features within compact package sizes.

Frequently Asked Questions (FAQ):

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