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The in-ear monitoring system market is expected to reach around $981 million by 2024NEW YORK, May 16, 2019 /PRNewswire/ -- 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. 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. 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 Market Segmentation by Products • Wired • Wireless Market Segmentation by Applications • Studio and Broadcasting • Live Events and Performances • Large Venues • Others Market Segmentation by Distribution Type • Online • Retail In-ear Monitoring System Market: Geography The in-ear monitoring systems market by geography is segmented into APAC, Europe, North America, Latin America, and MEA. North America dominated the market and is expected to grow at a CAGR of around 4% during the forecast period. In the last couple of years, the music industry in US has witnessed a growth of around 14%; hence, the growing demand for concerts and music recordings, increasing live music shows and activities, and the increasing retail expansion have holistically boosted the in-ear monitoring system market. Further, the penetration of networked audio technology in the US is growing, and more concerts and music festivals are using this technology in place of traditional ones. Market Segmentation by Geography • North America o US o Canada • Europe o UK o Germany o France o Italy o Spain o Switzerland o Russia o Benelux o Scandinavia • APAC o Japan o China o South Korea o Australia o India o Indonesia • Latin America o Brazil o Mexico o Argentina • MEA o Saudi Arabia o South Arica o Maghreb 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 Other prominent vendors are Nady Systems, Pyle Pro, Hear Technologies, Peavey Electronics, Prodipe, JTS Professional, Audio2000's, EnpingSange Electronic (Baomic), Shenzhen Anleon Electronic, SOYO Technology, Takstar, Wisycom USA, CAD Audio, MIPRO, Listen Technologies, Gear4music, TOA corporation, ANT (Advanced Native Technologies), The t.bone, and LD Systems. 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 Read the full report: https://www.reportlinker.com/p05776130/?utm_source=PRN About Reportlinker ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place. __________________________ Contact Clare: [email protected] US: (339)-368-6001 Intl: +1 339-368-6001 View original content:http://www.prnewswire.com/news-releases/the-in-ear-monitoring-system-market-is-expected-to-reach-around-981-million-by-2024-300852093.html SOURCE Reportlinker |