Digital Voice Recorder Market : Structure and Overview of Key Market Forces Propelling Market

The global market for digital voice recorder is witnessing a noticeable surge in its valuation, thanks to the remarkable rise in the entertainment industry across the world. Vendors are increasing their investments in this market for the technological advancement of their products, which is likely to propel it significantly in the years to come.

Apart from this, the augmenting number of live programs and the rise in the audience pool, worldwide, are also expected to contribute substantially to this market over the next few years.

By 2017, the opportunity in the global digital voice recorder market is anticipated to reach US$1.15 bn. Progressing at a CAGR of 11.50% between 2017 and 2022, the market is likely to worth US$1.91 bn by the end of 2022.

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USB to Surface as Leading Component Segment

The worldwide market for digital voice recorders is evaluated on the basis of the components of the recorder, type of battery, and the end user. Based on the components of the recorder, the market is classified into Bluetooth, infrared, USB, and SD card. Among these, the USB segment has been leading this market and is expected to remain on the top over the next few years, expanding at an 11.30% CAGR between 2017 and 2022.

By the type of the battery, the market is categorized into AA, AAA, rechargeable, and lithium ion. On the basis of the end user, the market is bifurcated into the residential and the commercial sectors.

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North America to Lead Global Digital Voice Recorder Market

Asia Pacific excluding Japan (APEJ), Europe, North America, Latin America, the Middle East and Africa (MEA), and Japan are the prime geographical segments of the worldwide market for digital voice recorders. In terms of value, North America have been leading this market over the last few years and is predicted to continue it further at a CAGR of 14.50% between 2017 and 2022. The presence of a large pool of established vendors of digital voice recorders is the main factor, which is boosting the North America market for digital voice recorders substantially.

Europe, which is at the second position in this market, is projected to maintain its position over the next few years, thanks to the significant rise in the entertainment industry in this region. However, Asia Pacific excluding Japan is anticipated to surface as the most promising regional market for digital voice recorders over the forthcoming years.

The global market for digital voice recorders is highly competitive in nature. Sony Corp., Leap Investment Ltd., Hyundai Digital Tech Co. Ltd., Samsung Electronics Co. Ltd., Zoom Corp., Royal Philips NV, Panasonic Corp., Noel Leeming Group Ltd., Shenzhen Hnsat Industrial Co. Ltd., and Olympus Corp. are some of the leading vendors of digital voice recorders across the world.

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