The global in-ear monitors (IEMs) market is set for substantial expansion, according to the latest industry reports. The market, valued at USD 344.7 million in 2022, is projected to achieve an impressive compound annual growth rate (CAGR) of 9.0% over the next decade, soaring to an estimated USD 749.7 million by 2032.
Several key factors are driving this significant growth. The increasing number of musical concerts, live recordings, and studio sessions worldwide has fueled the demand for high-quality in-ear monitors. Additionally, the growing enthusiasm for musical activities among adolescents globally is contributing to the upward trajectory of the IEMs market.
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Furthermore, the widespread penetration of the internet, particularly in remote regions, has amplified this growth. As access to online platforms expands, more individuals are engaging in music-related activities, thereby boosting the need for advanced audio equipment like in-ear monitors.
The promising future of the IEMs market underscores the evolving landscape of the music industry and highlights the critical role of technological advancements in shaping consumer preferences. As the market continues to grow, industry stakeholders are poised to capitalize on the expanding opportunities within this dynamic sector.
Key Takeaways from Market Study:
- Universal IEM dominated the market with a 5% market share in the product segment of the in-ear-monitors (IEMs) market in 2021. The universal IEMs are easily available as well as has more number of manufacturers and thus the adoption rate is higher.
- Studio recording and broadcasting accounted for 9% of the market share in 2021. Studio recording and broadcasting is a more common activity compared to live events, which are held occasionally. Thus, the usage of in-ear-monitors is more in studio recording.
- Supermarkets and hypermarket segment dominated the market in 2021 with a share of 7% of the distribution channel category of the in-ear-monitors (IEMs) market. The reach is more through this channel and so the share is higher.
- North America dominates among the seven regions, with a market share of 4%. The increased number of music recordings as well as shows is more in North America compared to other regions and that is why holds a higher share of the market.
“Increasing technological advancements and quality products in the in-ear-monitors (IEMs) market is set to propel the sales of the in-ear-monitors (IEMs) market across the globe,” says an analyst of Future Market Insights.
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Market Competition:
The in-ear-monitors (IEMs) market is quite fragmented because of the increased number of key players in the market. There are a broad range of products that can be categorized under the in-ear-monitors (IEMs) market, therefore it is a huge market. The strategies that are commonly followed by the key players include product launches, partnerships, expansions, collaborations, acquisitions and mergers.
- In November 19, 2021, The AONIC FREE true wireless earphones were launched by Shure Incorporated in collaboration with singer, songwriter, and multi-instrumentalist Jacob Collier.
- In April 2018, Adam Hall Group increased the availability of its products by merging with the Musical Distributors Group (MDG).
What Does the Report Cover?
Future Market Insights offers a unique perspective and actionable insights on the in-ear-monitors (IEMs) market in its latest study, presenting a historical demand assessment of 2015 – 2021 and projections for 2022 – 2032. The global in-ear-monitors (IEMs) market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.
Key Companies Profiled:
- Shure Incorporated
- Sennheiser electronic GmbH & Co. KG
- Future Sonics Inc.
- Peavey Electronics
- ULTIMATE EARS.
- Empire Ears
- Sensaphonics, Galaxy Audio
- Adam Hall Group (LD Systems)
- Audio-Technica, Inc.
- MEE Professional
- JTS PROFESSIONAL CO., LTD
- ANLEON Electronic Co., LTD,
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Key Market Segments Covered in In-Ear-Monitors (IEMs) Industry Research:
By Product:
- Custom IEM
- 2 -Driver Earphones
- 3 -Driver Earphones
- 4 -Driver Earphones
- 6 -Driver Earphones
- 8/9 -Driver Earphones
- 12 -Driver Earphones
- 18 -Driver Earphones
- Universal IEM
- 2 -Driver Earphones
- 3 -Driver Earphones
- 4 -Driver Earphones
- 6 -Driver Earphones
- 8/9 -Driver Earphones
- 12 -Driver Earphones
- 18 -Driver Earphones
By Application:
- Live Events and Performances
- Studio Recording and Broadcasting
By Distribution Channel:
- Supermarkets/Hypermarkets
- Multi-brand Stores
- Exclusive Stores
- E-commerce/Online Sales
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa (MEA)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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