Global Digital Voice Recorder Market Predicted to Rise at 11.50% CAGR by 2022; Estimated to Reach US$1.91 bn

With the presence of a copious number of companies, the global market for digital voice recorder is fragmented with intense competition. In this scenario, top companies are aggressively engaged in technological advancements to serve ever-changing consumer demand, for which they are investing heavily in this market. In the years ahead, these players are likely to concentrate on regional expansion, for which they might resort to business alliances with regional players.

Key companies operating in the digital voice recorder market include Sony Corp., Hyundai Digital Tech Co Ltd., Zoom Corp., Panasonic Corp., Olympus Corp., Leap Investment Ltd., Zoom Corp., Royal Philips NV, Shenzhen Hnsat Industrial Co. Ltd., and Noel Leeming Group Ltd.

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As per a research report by Transparency Market Research (TMR), the global digital voice recorder market is likely to be valued at US$1.91 bn by 2022 from US$1.15 bn in 2017. This rise alludes to 11.50% CAGR over the 2017-2022 forecast period. By component of the recorder, Bluetooth, USB, infrared, and SD card are the segments into which this market is classified. The USB segment, among these, is currently displays the leading demand and is likely to continue to remain at the lead over the forecast period, rising at a CAGR of 11.30% CAGR between 2017 and 2022.

The global digital voice recorder market is segmented as follows;

Global Digital Voice Recorder Market, by Recorder Component