Wireless Microphone Market to Reach US$611.4 mn by 2023 in APAC

The growth of the entertainment industry, coupled with a surge in the number of sporting events in APAC is expected to drive the demand for wireless microphones in the coming years. The demand for wireless microphones is further expected to increase owing to the ease they offer when compared to wired microphones in terms of robustness, comfort, and efficiency. Furthermore, the demand for wireless microphones largely comes from applications such as large venues, events, and corporate usage. The APAC wireless microphone market had generated revenue of US$ 267 Mn in 2014; this is projected to expand at a CAGR of 9.8% during the forecast period (2015 – 2023) and reach a market size of US$ 611.4 Mn by 2023. The volume generated by APAC wireless microphone market for year 2014 was 1.41 million units and is expected to rise at a CAGR of 9.4% during the forecast period and reach 3.11 million units by 2023.

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The growing demand for wireless microphones, primarily in the media and entertainment industry in ASEAN and Rest of APAC regions, is expected to boost the demand for wireless microphone in the coming years. Furthermore, the application of wireless microphones is expected to rise in large venues and for events as the Asia Pacific region is anticipated to host large sporting events in the near future. Asia is expected to host Winter Olympics 2016, Commonwealth Games 2018, Summer Olympics 2020, and Winter Olympics 2022. Moreover, the region is also witnessing a rise in the number of event management companies, which is another factor driving the growth of wireless microphones.

The wireless microphone market is categorized based on application into corporate usage, education, hospitality, house of worship, events, and large venues. In 2014, the application of wireless microphones in events and the corporate sector accounted for a major share. The demand from these segments is high, as the unit consumption in these segments is high. Events is also anticipated to remain fastest-growing segment over the forecast period from 2015 to 2023. The number of large, mid-sized, and small-sized events is expected to rise in APAC, which would further create the demand for wireless microphones. In the coming years, the application of wireless microphones is expected to swell in the hospitality, large venues, and house of worship segments.

According to technology, the wireless microphones market is further categorized into three segments: Wi-Fi by frequency, RF by frequency, and others. Furthermore, the channel segmentation is also provided for RF by technology segmentation. The Wi-Fi-based wireless microphone segment is expected to see the fastest growth, at a CAGR of 19.5% during the forecast period. The largest market segment by technology in 2014 was the RF-based wireless microphones, which was valued at US$ 220.3 Mn. The key manufacturers of wireless microphones are gradually shifting their focus toward Wi-Fi-based wireless microphones as the demand for Wi-Fi is anticipated to increase in line with the benefits that this technology has over radio frequency and Bluetooth.

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