The global microphone market is estimated to be USD 1.6 billion in 2020 and is projected to reach 2.3 billion by 2025, at a CAGR of 7.9% during the forecast period. The factors attributing to the growth of this market include high adoption of next-generation consumer electronics, elevated use of piezoelectric microphones in IoT applications, increased number of microphones per device, and escalated demand for modern microphones for use in smart wearable devices.
The microphone market has promising growth potential due to several factors, including the increasing utilization of microphones in infotainment and safety monitoring systems in vehicles, growing use of microphones in industrial applications for the evaluation of ambient or environmental noise, increased requirement for microphone-embedded medical devices, growing implementation of different types of microphones in security cameras and audio/video-enabled surveillance systems, and the growing demand for IoT enabled connected devices with voice command feature. Also, the rapidly growing consumer electronics market in China, Japan, South Korea, and India is expected to contribute to the growth of microphone market.
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Even, countries in North America, South America, Europe, Middle East and Africa are expected to contribute significantly towards the growth of the global microphone market. The increasing demand for high-end consumer electronics such as smart home devices and wearable’s are expected to fuel the microphone market growth in Americas. Outstanding innovations such as autonomous vehicles and in-vehicle communication systems to fuel the market growth in Europe region. Moreover, the government aid in the improvement of telecom sector has helped the market for connected devices to grow in the Middle East and African countries, thereby fueling the microphone market growth in this region.
Among MEMS type, digital MEMS microphones holds the largest size of the microphone market. These microphones have various benefits such as small dimensions and greater electrical noise immunity that allows the implementation of multiple microphones in a single device. Therefore, these microphones are in demand for use in industrial equipment and consumer electronics as they offer a hands-free human–machine interface, noise cancellation, and high-quality audio.
The microphone market for commercial security and surveillance application is expected to grow at the highest CAGR during the forecast period. The growth of this segment can be attributed to the increasing demand for anti-theft and surveillance systems in residential areas for better monitoring and the increasing use of microphones for border security solutions. Microphones are used in a variety of surveillance solutions for loss prevention, crime deterrence, additional evidence, alarm verification, and visitor management applications. The growing rate of security threats in public places, right from airports to public cafes, is one of the major factors for the growing use of microphones in commercial security and surveillance applications.
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APAC is estimated to be the fastest growing market for microphones. The rising number of users of Smartphone’s and portable smart devices due to growing disposable incomes is likely to stimulate the microphone market growth in APAC. Also, multiple microphones are installed in each consumer electronic device for efficient noise cancellation, and an upsurge in demand for such devices per person is expected to support the microphone market growth in the long run. Moreover, emerging economies such as China and India are migrating to high-end smart devices where better audio quality is needed, which is expected to help the overall market of microphones to grow in this region.