Northbrook, IL 60062 -- (SBWIRE) -- 07/19/2022 -- The microphone market is estimated to grow from USD 2.3 billion in 2022 to reach USD 3.4 billion by 2027; it is expected to grow at a CAGR of 8.2% from 2022 to 2027. The growth of the microphone market can be attributed to low cost and compact size of MEMS microphones and increased number of microphones per devices.
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The market for digital MEMS microphones is expected to grow at a faster rate than that of the market for analog MEMS microphones during the forecast period. A high signal-to-noise ratio (SNR), low power consumption, good sensitivity, and small form factor of recently invented next-generation digital MEMS microphones give them an edge over analog MEMS microphones.
Wireless microphones are expected to grow at a faster rate during the forecast period. An exponential use of wireless microphones in concerts, musical events, sporting tournaments, and broadcasting studios is fueling revenue growth of the wireless microphone market across the world.
MEMS microphones are expected to grow at the highest CAGR during the forecast period because of the increased use of MEMS microphones owing to their advantages such as smaller package size, lower power consumption, and greater digital noise tolerance over the other types.
The microphone market for medical applications is expected to grow at the highest CAGR during the forecast period. The growing adoption of MEMS microphones in medical telemetry systems is driven by the global increase in the number of lifestyle-associated ailments such as cardiovascular diseases and diabetes.
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The market in the Asia Pacific region is expected to grow at the highest CAGR during the forecast period. Emerging economies such as India and China are migrating to advanced microphone-enabled high-end smart devices that provide better audio quality than traditional devices. This is expected to help the microphone market grow at the highest rate in the Asia Pacific region.
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