DUBLIN--(BUSINESS WIRE)--The "In-Ear Monitoring System Market - Global Outlook and Forecast 2019-2024" report has been added to ResearchAndMarkets.com's offering.
The in-ear monitoring system market is expected to reach around $981 million by 2024, growing at a CAGR of about 4.5% during 2018-2024.
Collaborations among music industry players, advancements in in-ear monitoring technology, and intensification in market competitions are expected to offer new opportunities for vendors in the global in-ear monitoring system market. Further, product differentiation is a factor for vendors to distinguish their products and service offerings, or else they might lose relevance in the market.
In addition, the development of new functionalities and continued product upgrades is required to keep pace with the evolving technological landscape in the in-ear monitoring system market. Shure, Sennheiser, LD Systems, and Audio-Technica are some of the key vendors engaged in the designing of wireless in-ear monitoring systems.
Factors such as ease of usage, connectivity, signal transmission, expansion of global music business, reduced dependency upon sound engineers, and progression in the end-user application are driving the global in-ear monitoring systems market. The increasing partnership with musicians and audiologist will boost revenues in the in-ear monitoring systems market. The report provides an in-depth market and segmental analysis of the global in-ear monitoring system market by products, applications, distribution channels, and geography.
In-ear Monitoring System Market: Dynamics
A key trend witnessed in the music industry market is to target visually impaired musicians via innovations. A major development in the in-ear monitoring system market has been the contribution toward the Baton Project, a plan that redefines orchestra for visually impaired musicians. A leading manufacturer, Shure, has backed the Project. It launched PSM900 in-ear monitoring systems, which can transmit the vibrations from the Baton directly to a wearable device worn by the visually impaired end-user. The transmitted signals ensure that they are received by the user that help in assessing the direction of the ongoing performance.
Key Vendor Analysis
The global in-ear monitoring system market is currently highly competitive. The market remains a little concentrated at the top, with 4-5 key vendors enjoying a majority of revenue.However, the market is also witnessing the growing influx of small and medium-sized vendors worldwide.
Changing customer preferences worldwide and the consistent need for technological enhancements in product offerings are driving vendors to modify and refine their unique value propositions. Partnerships with artists, event organizers, and other end-user application entities are another growth strategy adopted by vendors, which is expected to boost the in-ear monitoring system market.
Leading Vendors
- Shure ANT (Advanced Native Technologies)
- Sennheiser
- HARMAN International (Samsung)
-
Audio-Technica
Key Topics Covered:
1 Research Methodology
2 Research Objectives
3 Research Process
4 Scope & Coverage
4.1 Market Definition
4.2 Base Year
4.3 Scope of the study
4.4 Market Segments
5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation
6 Market at a Glance
7 Introduction
7.1 Overview
8 Market Dynamics
8.1 Market Growth Enablers
8.1.1 Expansion of Global Music Business
8.1.2 Increased Adoption by Houses of Worship
8.1.3 Reduced Dependency on Sound Engineers
8.1.4 Progressing End-user Application Markets
8.2 Market Growth Restraints
8.2.1 Stringent Government Regulations
8.2.2 High System Costs Deterring Market Growth
8.2.3 Parallel Growth of Substitutes
8.3 Market Opportunities & Trends
8.3.1 Partnering with Musicians and Audiologists
8.3.2 Showcasing Products at Industry Events
8.3.3 Targeting Visually Impaired Musicians via Innovations
8.3.4 Transformation from Isolation to Protection
9 Value Chain Analysis
9.1 Overview
9.2 Value Chain Analysis
10 Global In-Ear Monitoring System Market
10.1 Historical Data 2016-2017
10.2 Market Size & Forecast
10.3 Five Forces Analysis
11 By Product Type
11.1 Market Snapshot & Growth Engine
11.2 Market Overview
11.3 Wireless in-ear Monitoring Systems
11.4 Wired in-ear Monitoring Systems
12 By Application
12.1 Market Snapshot & Growth Engine
12.2 Market Overview
12.3 Live Events & Performances
12.4 Large Venues
12.5 Studio & Broadcasting
12.6 Others
13 By Distribution Channel
13.1 Market Overview
13.2 Manufacturing, Production, & distribution
13.3 Distribution Via Retail Stores
13.4 Distribution Via Online Websites
14 By Geography
14.1 Market Snapshot & Growth Engine
14.2 Overview
15 North America
16 Europe
17 APAC
18 Latin America
19 Middle-East and Africa
20 Competitive Landscape
21 Key Company Profiles
21.1 Shure
21.1.1 Business Overview
21.1.2 Major Product Offerings
21.1.3 Key Strengths
21.1.4 Key Strategies
21.1.5 Key Opportunities
21.2 Sennheiser Electronic
21.3 Harman International (Samsung)
21.4 Audio-Technica
22 Other Prominent Vendors
22.1 Nady Systems
22.1.1 Business Overview
22.1.2 Key Strengths
22.1.3 Key Strategies
22.2 Pyle-Pro
22.3 Hear Technologies
22.4 Peavey Electronics Corporation
22.5 Prodipe
22.6 JTS Professional
22.7 Audio2000's
22.8 Enping Sange Electronic (Baomic)
22.9 Shenzhen Anleon Electronic
22.10 Soyo Technology
22.11 Takstar
22.12 Wisycom USA
22.13 CAD Audio
22.14 Mipro
22.15 Listen Technologies
22.16 Gear4Music
22.17 TOA Corporation
22.18 Advanced Native Technologies
22.19 The T.BONE
22.20 LD Systems
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