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$2.3 Billion Microphone Market - Global Forecast to 2025: Escalated Demand for Modern Microphones for Use in Smart Wearable DevicesDUBLIN, Oct. 12, 2020 /PRNewswire/ -- The "Microphone Market with COVID-19 Impact by Technology (MEMS, Electret, Other), by MEMS Type, by Communication Technology, by Application (Automotive, Consumer Electronics, Industrial, Medical, and Sensing), & by Geography - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering. The microphone market was valued at USD 1.8 billion in 2019 and is projected to reach USD 2.3 billion by 2025; it is expected to grow at a CAGR of 7.9% from 2020 to 2025. The COVID-19 outbreak generated both demand-side and supply-side shocks rumbling across the global economy. Leading China-based microphone manufacturers such as AAC Technologies and Goertek have incurred huge losses due to the pandemic. The strong actions such as imposing a country-wide lockdown taken by governments globally to curb the spread of COVID-19 is expected to have a severe impact on the entire manufacturing industry. MEMS microphones: The fastest-growing technology segment of the microphone market. MEMS microphones is estimated to be the fastest-growing technology segment of the microphone market. The growth of this segment can be attributed to the huge application of MEMS microphones in IoT enabled consumer electronic devices, owing to its miniatue design. The miniature design of the microphone helps in easy integration, making them ideal for use in various compact products such as wearables, wireless earphones, and hearing aids. Other benefits provided by these microphones include low power consumption, high sound-to-noise ratio (SNR), improved noise cancellation, high-performance density, long battery life due to low current consumption, small form factors, and superior temperature stability. Consumer electronics: The largest growing segment of the microphone market, by application. The consumer electronics segment accounted for the largest market share of the microphone market, by application and is dominated by smartphone manufacturers. The demand for smartphones, tablets, wearable devices, and smart home equipment has been drastically increased with high disposable income and improved life. APAC is projected to be the fastest geographical market between 2020 and 2025. APAC is expected to grow at the highest CAGR between 2020 and 2025. The highest growth rate of APAC is attributed to the growing adoption of connected devices and increasing demand for wearable electronics during the forecast period. The rising number of users of smartphones and consumer devices due to high disposable incomes is likely to stimulate the microphone market growth in APAC. Also, infotainment systems with embedded MEMS microphones are deployed in many low and mid-end cars in APAC. Market Dynamics Drivers
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For more information about this report visit https://www.researchandmarkets.com/r/xi82mi Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research. Media Contact: Research and Markets View original content:http://www.prnewswire.com/news-releases/2-3-billion-microphone-market---global-forecast-to-2025-escalated-demand-for-modern-microphones-for-use-in-smart-wearable-devices-301150068.html SOURCE Research and Markets |