MEMS Microphones Market Size, Share, Growth, Trends and Industry Forecast Reportby Susan Hill Business Consultant
The global MEMS microphones market size is expected to reach USD 2,991.0 million by 2025, registering a CAGR of 14.4% from 2019 to 2025, according to a new study conducted by Grand View Research, Inc. The market is anticipated to grow rapidly over the forecast period owing to the widespread usage of microphones in various end-use applications, particularly consumer electronics. The rising levels of disposable income and the increasing number of tech-savvy buyers, which have triggered the demand for smartphones, compact hearing aids, smart speakers, and automotive electronics, especially in the emerging economies, bodes well for the market growth. The continued advances in technology and the growing popularity of voice-driven applications is also expected to propel the demand for MEMS microphones.
Apart from smartphones, microphones are increasingly being used in other electronic products, such as portable media players, speech recognition systems, personal computers, surveillance cameras, 3D cameras, radars, anti-theft alarms, headphones, smart speakers, music recorders, and home appliances, including air conditioners, refrigerators, and service robots. Hence, the growing demand for all such electronic products is expected to drive the market growth over the forecast period. The smart city initiatives being pursued undertaken various governments across the world are also expected to fuel the market growth.
Conventionally, electronic devices, such as mobile phones, have featured only a single microphone. However, there has been a particular upsurge in the demand for MEMS microphones since smartphones have started replacing the conventional mobile phones and connected systems for sophisticated electronic gadgets have been introduced. These systems use beamforming techniques to cancel out the noise and interference from other sources and capture the appropriate audio sounds. Miniaturization has also contributed significantly to the popularity of MEMS microphones, which are now being easily installed in smartphones, IoT sensor hubs, robots, security systems, automotive cabin systems, smart TVs, and cameras.
Asia Pacific dominates the global MEMS microphones market in terms of revenue, growth, and volume shipments. The rising levels of disposable income have led to a burgeoning demand for high-technology acoustic products in the region. At the same time, Asia Pacific is home to several microphone manufacturing units. Most of these manufacturing units are located in China, Vietnam, India, and the Philippines. As a result, MEMS microphone manufacturers have streamlined their operational, expansion, and distribution strategies in this region. China happens to be the leading manufacturer and consumer of MEMS microphones in Asia Pacific because the Chinese government is aggressively supporting the adoption of latest technologies, such as artificial intelligence, big data analytics, and virtual reality, and pursuing IoT-enabled smart city initiatives by making significant investments. It is estimated that China generates very large volumes of data as compared to other countries. Smart homes with robotic home center controlling the transmitted information are expected to materialize in China over the next 5-10 years. All these factors are playing a major role in increasing the demand for MEMS microphones in the region.
The market is getting highly competitive and all the leading market players are adopting various strategies to stay ahead in the intensifying competition. Market players are particularly emphasizing on research and development initiatives. Most of the market players are focusing on developing new technologies and improving their existing product lines.
Further key findings from the report suggest:
- The hearing
aids, other consumer electronics, and IoT & VR segments are
anticipated to register the highest CAGRs of 17.1%, 16.9%, and 16.4%,
respectively from 2019 to 2025 owing to the rising demand for superior
quality MEMS microphones to be used in smartphones, hearing aids, and IoT
- The digital segment is anticipated to exhibit the highest CAGR of
16.7% from 2019 to 2025 owing to the rising adoption of microphones with
digital output in most electronic components
- The Asia Pacific regional MEMS microphones market is expected to
witness the fastest growth and also hold the largest revenue share over
the forecast period. It is anticipated to reach USD 1.83 billion by 2025
due to the presence of numerous manufacturing plants coupled with the
rising demand for hearing aids, IoT & VR devices, and other electronic
goods in the region
- The key industry participants include Knowles LLC; InvenSense, Inc.; STMicroelectronics; Cirrus Logic, Inc.; CUI, Inc.; Infineon Technologies AG; AAC Technologies; Goertek; DB Unlimited; Vesper Technologies Inc.; New Japan Radio Co., Ltd.; Projects Unlimited, Inc.; and Sonion; among others.
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Created on Feb 13th 2020 08:35. Viewed 204 times.