The pro microphone market is expected to grow at a CAGR of...

The pro microphone market is expected to grow at a CAGR of over 2% during the period 2018–2024.

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Growing convergence of Pro AV and IoT, the emergence of networked audio technology, increased demand from corporate, government, and institutions sectors, growth in music production and recording industry are the factors that are expected to contribute to the growth of the Pro headphones market during the forecast period.

The global pro microphone market growth is mainly propelled by upgrades and the replacement of legacy systems in developed markets. Technological innovations are generating new opportunities for vendors in North America and Europe, along with APAC. Although the market is exhibiting early signs of demand saturation and maturation, the new demand is expected to come from developing economies such as China, India, and Brazil. The increasing proliferation of IoT in the education sector is offering vendors opportunities to explore additional sales prospects as university campuses are becoming smart. Hence, these advancements are likely to drive market growth during the forecast period. With digital wireless technology coming with a host of benefits such as low voice distortion, less noise interference, there are increased opportunities for encryption and enhanced the reliability of signal transmission. Vendors are increasingly finding growth opportunities due to the growing importance of AV conferencing within global and local corporate setups. End-users are constantly looking out for better sound quality, which is driving the need for constant R&D in the market. The US is the largest market for the microphone in the world, followed by Japan.

The study considers the present scenario of the pro microphone market and its dynamics for the period 2018-2024. It covers a detailed overview of several market growth enablers, restraints, and trends. The market study includes insights on segmentation by product type (wired and wireless (handheld, clip-on and other)), connectivity types (wired and wireless), end-user (corporate, studio & broadcasting, large venues & events, educational institutions, government & military, hospitality, and others ), format (analog/non-digital and digital), distribution channels (retail and online), and geography (APAC, Europe, Latin America, MEA, and North America).The report covers both the demand and supply sides of the market. It profiles and examines leading companies and other prominent companies operating in the pro microphone market.

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