Boom Arms Market Forecast and CAGR
According to latest research by Fact.MR, the global boom arms market is attributed to witness an impressive CAGR of more than 6.5% during the forecast period. The evolving demand from media & entertainment is more likely to provide plethora of opportunities to the manufacturer’s during the same period.
In addition to this, media & entrainment industry and commercial applications has accounted for convenient demand for the past few years and attributed to witness a positive growth trajectory in near future. Although the growth rate of boom arms market was declined by 10-15% in Q3 & Q4 of 2020 due to COVID-19 pandemic. But the historical market trend is projected to observe optimistic growth rate in terms of value and volume in the next couple of years.
What is Driving Demand for Boom Arms?
The Boom Arms is extensively been utilized in media and entrainment industry. The growth of media & entrainment industry is anticipate to drive the global market growth. This will lead to provide a spurt in sale during the assessment period.
The improving life style and rising per capita income across the globe is likely to surge the utilization for residential application such as festival and small parties. It is attributed to providing abundant number of opportunities to manufacturers.
The growing number of cinema production houses across the globe is predicted to surge the utilization of boom arms. It is projected to give a positive outlook to the sale during the period of forecast.
Additionally, the trend toward the social media has surged the activities related to live videos, live video streaming and web broadcasting. It is anticipated to drive the market growth during the assessment period.
In addition to this, the intensifying number of content makers on YouTube and singers across the globe, is anticipated to surge the demand for boom arm market. Since it enables to switch between multiple cameras, game consoles and computer system in very less amount of time.
Know More Details About the Report
Media & entrainment industry has been impacted around the globe by COVID-19 pandemic. This has also hampered demand for boom arms. As the utilization of boom arms provides an ease to individuals for singing and video streaming. Moreover it is likely to filter the voice and provides a pleasant output. The historical trend of the market is projected to provide lucrative avenue to the manufacturers in the next couple of years. It will lead to providing abundant opportunities to manufacturers for cash flow generation during the period of forecast.
North America Boom Arms Market Outlook
North America is considered to be one of the leading consumer of Boom Arms. Especially U.S. accounts for abundant number of end users in this region and holds the prominent market share in the global market. North America is poised to dominate the boom arms market and likely to hold more than 30% of market share during the assessment period.
The application in media & entrainment industry accounts for highest demand in North America due to improving life style and rising per capita income. The application in cinema production houses is attributed to be a foremost reason which generates noteworthy sale, poised to surge the deployment in upcoming years.
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Europe Demand Outlook
Europe holds the significant market share of Boom Arms. The commercial application has accounted for significant demand since past few years and the sale is likely to follow the historical pattern during the forecast period. Many countries in Europe such as Germany, Italy and France have been severely impacted by the COVID-19 crisis, which has led to a decline in economic activities in early 2020.
Europe’s sales was also impacted by the media and entrainment industry outlook in Q3 & Q4 of 2020. However, market trend is projected to show optimistic growth rate which is attributed to provide spurt in production by early 2022. Media & entrainment industry is attributed to generate magnificent demand in next couple of years in this region.
Who are the Key Manufacturers of Boom Arms?
Some of the leading manufacturers of Boom Arms include-
- Blue Microphones
- Heil Sound
Leading manufacturers have their own distribution channel. Manufacturers are more focused on to reorganize their distribution channel with the specialty stores, multi-brand stores and e-commerce platform. This will lead to surge the profit margin and likely to aid the organization to gain coverage across the globe.
The market is the highly fragmented in nature due to abundant number of players operating globally. To obtain a dominant position on the globe companies may follow inorganic growth strategies such as merger, acquisition, partnership and collaboration during the period of forecast.
An Adaptive Approach to Modern-day Research Needs
Boom Arms Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
By Product Type
- Arm Type
- Straight Type
By Stand Types
- Tripod Boom Stand
- Round base Stand
- Desktop Stands
- Low Profile Stands
- Overhead Stands
- Media & Entertainment
By Distribution Channel
- Specialty Stores
- Multi-brand Stores
- Retail Sales
- Distributor Sales
- E-commerce Websites
- Company-owned Websites
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Argentina & Rest of Latin America
- Germany, France, Italy, Spain, U.K., Benelux, Russia, and Rest of Europe
- East Asia
- China, Japan, South Korea
- South Asia
- India, Thailand, Malaysia, Indonesia and Rest of South Asia
- Australia and New Zealand
- Middle East and Africa
- GCC Countries, Turkey, South Africa, and Rest of Middle East & Africa
- North America
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
NOTE: Although care has been taken to maintain the highest levels of accuracy in reports, recent market/vendor-specific changes may time to reflect in the analysis.
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Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
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