In-Ear Monitoring System Market Is Expected To Reach Around $981 Million By 2024, Growing At A CAGR Of About 4.5% During 2020–2024

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Shibuya Data Count

Feb 04, 2021, 07:13 EST

Shibuya-ku, Tokyo, Japan, Japan, Feb 04, 2021, 07:13 /Comserve / -- Leading Vendors: Shure ANT (Advanced Native Technologies), Sennheiser, HARMAN International (Samsung), Audio-Technica

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.

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Leading Vendors

• Shure ANT (Advanced Native Technologies)
• Sennheiser
• HARMAN International (Samsung)
• Audio-Technica

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.

In-ear Monitoring System Market: Segmentation

This market research report includes a detailed segmentation of the market by products, applications, distribution types, and geography. The in-ear monitoring system market by products can be segmented into wired and wireless. The wireless in-ear monitoring system segment continues to dominate the market due to innovations and the rise in strategic partnerships between manufacturers and musicians and bands. For instance, since 2014, the famous singer and songwriter ED Sheeran has opted for Sennheiser, which is a high-quality, brand. Further, the availability of multiple features in wireless in-ear monitors has increased the demand across diverse end-user applications. They are widely used during live performances and studio recordings. Vendors are actively involved in developing new and innovative products for the diverse range of end-user applications. For instance, Audio-Technica delivers an in-ear monitoring system (Audio-Technica M2), which has competitively priced and easy to operate.

The global in-ear monitoring market by application is segmented into studio and broadcasting, live events and performances, large venues, and others. The in-ear monitoring system market is witnessing an increase in live events and performances, and the segment is growing at a CAGR of about 5%. Live events and performances comprise outdoor concerts, performances, live music festivals, and clubs. Global music tours are drawing considerable attention and popularity, which requires effective in-ear monitoring systems. Hence, vendors catering to this end-user application segment via strategies such as partnerships with event organizers, music bands, and artists. They are also collaborating with trending performers to highlight and increase product sales.

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The in-ear monitoring system market by distribution channels is classified into retail (AV system integrators, Pro AV &electronics stores, Pro AV dealers &distributors) and online stores. The retail stores segment dominated the market share in 2018. The segment consists of three sub-segments: AV system integrators, Pro AV & electronics stores, and Pro AV dealers and distributors. AV system integrators provide consultation services to end-users and act as intermediators between end-users and OEMs. Pro AV and electronic stores sell and rent pro AV solutions that are used during live shows, music concerts, and public speaking events. Pro AV dealers and distributors are the prime sellers of in-ear monitoring systems that sell them on behalf of OEMs. Online sales are set to increase over 10% YOY during the forecast period.

Table of Content

1 Research Methodology
2 Research Objectives
3 Research Process
4 Scope & Coverage
4.1 Market Definition
4.1.1 Inclusions
4.1.2 Exclusions
4.2 Base Year
4.3 Scope of the study
4.4 Market Segments
4.4.1 Market Segmentation by Products
4.4.2 Market Segmentation by Applications
4.4.3 Market Segmentation by Distribution
4.4.4 Market Segmentation by Geography
5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation

The study considers the present scenario of the in-ear monitoring systems market and its market dynamics for the period 2019−2024. The report covers a detailed overview of various market growth enablers, restraints, and trends. The study covers both the demand and supply aspect of the market. It also profiles and analyzes leading and prominent companies operating in the market.

Key Market Insights

• Offers market sizing and growth prospects of the in-ear monitoring systems market for the forecast period 2019–2024
• Provides comprehensive insights on the latest industry trends, market forecast, and growth drivers in the in-ear monitoring systems market
• Includes a detailed analysis of market growth drivers, challenges, and investment opportunities
• Delivers a complete overview of market segments and the regional outlook of in-ear monitoring systems market
• Offers an exhaustive summary of the vendor landscape, competitive analysis, and key market strategies to gain a competitive advantage in the in-ear monitoring systems market

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Lauren Brown

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