The Asia Pacific wireless microphone market has experienced a substantial rise in the recent times. The increasing frequency of media and sports events in this region has augmented the demand for microphones in general; however, the advanced features of wireless microphones have given them an edge over the traditional wired microphones, increasing their popularity significantly.
As the host to the imminent global sports events such as Winter Olympics 2016, Commonwealth Games 2018, Summer Olympics 2024, and Winter Olympics 2024, Asia Pacific is projected to maintain the pace of the demand for wireless microphones in the coming years, says TMR.
The market opportunity of wireless microphones in Asia Pacific stood at US$267 mn in 2014. Expanding at a CAGR of 9.80% during the period from 2015 to 2024, analysts estimate it to reach US$611.4 mn by the end of the forecast period. The production capacity of this market is likely to rise at a CAGR of 9.40% during the same time frame.
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Wi-Fi-based Wireless Microphones to Gain Momentum in Near Future
Radio frequency (RF) and Wi-Fi are the main technologies employed in wireless microphones. In 2014, the demand for RF-based wireless microphones was much higher than Wi-Fi-based ones. The segment accounted for almost 80% of the overall demand for wireless microphones across the world, generated US$220.3 mn in revenue that year.
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Shifting Interest of Consumers Toward Advanced Media Gadgets Impels Demand for Wireless Microphones
Regionally, the market for wireless microphones in Asia Pacific stretches across China, ASEAN, Oceania, and the Rest of Asia Pacific. Among these, the highest demand for these microphones in 2014 was from the Rest of Asia Pacific, which held a share of nearly 33% in the overall market.
The shifting interest of people towards advanced media and communication gadgets, thanks to the improving economic condition in various Asian nations such as India, Japan, Taiwan, and Hong Kong, is the key factor behind the mounting demand for these microphones in the Rest of Asia Pacific. Additionally, the infrastructural development in Japan and the increasing digitization in India are expected to their adoption in this region over the in next few years.
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At the forefront of the market for wireless microphone in Asia Pacific are LEWITT GmbH, Blue Microphones, AKG Acoustics, Shure Inc., Yamaha Corp., Rode Microphones, inMusic Brands Inc., Sony Electronics Inc., Audio-Technica Corp., Sennheiser electronic GmbH & Co. KG, and Samson Technologies Inc.
