Conference System (Microphone) Market Size, Share, Industry Analysis, By Type (Wired and Wireless), By Application (Conference/Meeting Rooms, Convention Halls, Press Centers, Classrooms, and Others), and Covid-19 Impact, Latest Trends, Segmentation, Driving Factors, Restraining Factors, Key Industry Players, Regional Insights, and Forecast from 2023 To 2031

Updated On: 20 November 2023

CONFERENCE SYSTEM (MICROPHONE) MARKET REPORT OVERVIEW

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The global conference system (microphone) market size was USD 2228.3 million in 2021 and is anticipated to reach the size of USD 1241.04 million by 2031  and exhibit a CAGR of 7.8 % during the forecast period.

The instantaneous spike in the CAGR is ascribable to the immense product demand observed during the humanitarian crisis.The unpredicted emergence of the COVID-19 pandemic has drastically impacted the global economic structure. The global conference system (microphone) market has witnessed a growth spurt amidst the coronavirus outbreak.

The conference system (microphone) serves as a cost-effective solution to team member interaction and plays an important role in the administration and operations of several end-use industries. The rapid digitization and the growing internet penetration across developing and developed countries have increased the demand for conference system (microphone). A conference system includes a microphone to support two-way communication. The conference system comprises a discussion panel, a central control unit, a chairman unit, and software & interface modules. The systems are deployed in classrooms, meeting rooms, convention halls, press centers, and other places to ensure effective communication. The rising need for better conversation experience and increased IT expenditure are likely to bolster the market growth in the forthcoming years.

COVID-19 IMPACT

"Global Pandemic to Accelerate Growth of the Market"

The humanitarian crisis has affected the growth of several industries and markets. However, the global conference system (microphone) market has witnessed a growth spurt during the pandemic. The telecom sector has played a crucial role in maintaining the digital infrastructure across the globe. The work-from-home regime induced during the pandemic has augmented the demand for the conference system (microphone). Additionally, the shift of education institutes to online teaching methods has significantly boosted market growth. The increasing digitization observed across developing nations such as India has created lucrative growth opportunities for the market. The pandemic is expected to last for an extended period, and the market is likely to witness robust growth even after the pandemic ends.

LATEST TRENDS

"Growing Penetration of 5G Internet to Offer Lucrative Growth Opportunities"

5G network can deliver up to 1Gbps high-speed internet connectivity with low latency. Many industries, including automotive, manufacturing, textile, hospitality, healthcare, and others, have shifted to the remote working situation during the pandemic. Data-intensive applications, including VR and AR applications, have witnessed increased demand in the past couple of years. To cope with the increasing demand for video conferencing, the 5G network can offer lucrative growth opportunities for the market. High-speed, ultra-low latency, high bandwidth, and others are some beneficial attributes that are anticipated to surge the adoption of 5G networks and promote market growth.

CONFERENCE SYSTEM (MICROPHONE) MARKET SEGMENTATION

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Based on type, the market bifurcates into wired and wireless. Based on application, the market segments into classrooms, press centers, convention halls, conference/meeting rooms, and others. Out of these, the wireless segment is expected to witness the highest growth in the market.

Geographically, the market is classified into five major regions- North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

DRIVING FACTORS

"Remote Working and Work-From-Home Regime to Amplify Market Growth"

The unforeseen emergence of the coronavirus pandemic has forced the entire workforce to adapt to remote working and work-from-home regimes. The shutdown of manufacturing plants, industries, offices, schools, and other institutions has augmented conference system (microphone) demand. The fear of contracting the virus remains high, and many countries are experiencing the second wave of the pandemic. The pandemic is expected to last for an extended period. As a result, the remote working and work-from-home regimes are likely to amplify the conference system (microphone) market growth in the upcoming years. Major players in the market have adopted inorganic growth strategies to launch their conference system (microphone) to facilitate effective end-to-end communication across the end-use sectors. For instance, in September 2020, Zoom Video Communications entered into a strategic partnership with Lumen to offer Unified Communication and Collaboration Suite for enhanced user experience.

"Swift Digitization to Foster Market Growth "

The increasing globalization and technological advancements have promoted swift digitization across the globe. The demand for smartphones, laptops, and tablets has increased in recent years, and the development of 4G and 5G networks have augmented the pace of digitization. The governments of major economies are making hefty investments in modern technologies such as AI, machine learning, 5G networks, and others. This is anticipated to foster growth for the market. The improving income levels and technological advancements are likely to boost the demand for conference systems and fuel market growth. Additionally, the increasing IT investments by end-use sectors are expected to augment the market growth.

RESTRAINING FACTORS

"Low Internet Bandwidth and Connectivity Issues to Hinder Market Growth"

The lack of strong internet connectivity can cause disturbances in video streaming and hinder communication. The noise generated during the conference can create misunderstandings and affect communication. The lack of high internet bandwidth is likely to restrain the growth of the conference system (microphone) market.

CONFERENCE SYSTEM (MICROPHONE) MARKET REGIONAL INSIGHTS

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"Growing Adoption of Modern Technologies to Help the Asia Pacific Gain the Highest Share"

Asia Pacific is anticipated to witness the highest growth in the global conference system (microphone) market share. The growing adoption of new technologies such as cloud computing, IoT, and AI by various end-use sectors is anticipated to surge the market growth. The increasing internet penetration across India, Singapore, Korea, and China is likely to offer lucrative growth opportunities for the market. Additionally, the increasing number of smartphone and internet users will likely stimulate market growth in the upcoming years.

North America is projected to hold a large share in the global market. The presence of key players such as Bosch and Cisco is anticipated to fuel the market growth. The increasing adoption of 5G networks and the rising technological advancements are expected to surge the market's growth.

Europe is expected to gain substantial growth in the forthcoming years. The infrastructural development in the region coupled with the rising number of internet users is likely to complement the market growth. The growing investments by the businesses in research and development are anticipated to stimulate market growth.

The Middle East and Africa is anticipated to witness considerable growth in the global market. The increasing government investments to adopt modern technologies such as AI, machine learning, 5G networks, and others are expected to bolster the market growth.

Latin America is estimated to observe steady growth in the forthcoming years due to growing government support.

KEY INDUSTRY PLAYERS

"Key Market Players Launch New Products to Increase Market Presence"

The key players in the market invest immensely in the research and development activities to develop advanced conference system (microphone). They launch new solutions with modern integrated technologies, including cloud computing, AI, and machine learning. For instance, Facebook launched the Messenger Rooms solution in April 2020 to enable video conferencing for more than 50 people at once. The key players focus on various organic growth strategies such as new product launches, technological advancements, patents, and others. They also adopt inorganic growth strategies such as acquisitions, partnerships, collaborations, mergers, and others to strengthen their market positions and generate greater revenues.

List of Key Market Players Profiled:

• Bosch
• Shure
• Taiden
• Televic
• TOA
• Beyerdynamic
• Audio-Technica
• Brahler
• Sennheiser
• Audix
• Takstar

KEY INDUSTRY DEVELOPMENTS:

September 2020: Vu launched a new audio-video solution named Meeting by Vu. The solution is available in three choices; Conference, Team, and Executive.

January 2021: SAP SE and Microsoft Corp. entered into a strategic partnership to integrate Microsoft Teams with SAP’s intelligent solutions suite. The partnership will facilitate accelerated adoption of SAP S/4HANA on Microsoft Azure.

REPORT COVERAGE

The market is fairly competitive and comprises several key players operating at global and regional levels. The global conference system (microphone) market report provides a holistic analysis of the market and emphasizes several critical factors such as types, applications, end-users, and leading companies. Besides this, the report offers beneficial insights into the current market trends. The report also highlights the latest industry developments. In addition to the factors mentioned above, the report incorporates significant factors stimulating the market’s growth in recent years.