This industry research report covers the present scenario and growth prospects of the global digital keyboard market with segmentation based on the geography (Americas, EMEA, and APAC). This research report provides digital keyboard market forecast by revenue, which is calculated considering the sales of digital keyboards till 2020. It also includes an insightful analysis of the leading vendors in this market, such as Casio, Korg, Kurzweil Music Systems, Roland, and Yamaha.
Technavio’s market research analysts estimate the global digital keyboard market to grow at a CAGR of around 3% between 2016 and 2020. Increase in demand for electronic keyboards is one of the primary driver for the growth of digital keyboard market. Digital keyboards are capable of producing different types of sound and are equipped with various types of pre-loaded sounds, music, genre, and effects that help users while playing music. APAC leads the global market for digital keyboards, accounting for 36% of the overall market share. The main reason for this region’s growth is the rise in disposable income boosting the spending capacity of consumers on leisure activities.
The new market research report from Technavio provides a breakdown and analysis of the digital keyboards segments by technology.
“Of late, the manufacturers are coming up with innovative products and upgraded designs of digital keyboards. One of the major innovations is the introduction of equipped with rechargeable batteries and inbuilt software. Another development is the launch of Artiphon INSTRUMENT 1 is a combination of drums, guitar, piano, synthesizer, and violin,” says Soumya Mutsuddi, Lead Analyst, Media & Entertainment, Technavio Research
The growing number of live performances and concerts is expected to drive market growth during the forecast period. The growing interest, passion, and love for music among the populace are expected to lead to the formation of a wide variety of musical bands, which is resulting in an increased number of concerts and live performances worldwide. Since many people attend such performances, the revenue generated by the artists and event organizers is high. This increase in the amount of revenue generated is envisaged to bolster growth in the digital keyboard market during the forecast period.
The leading vendors in the global digital keyboard market include Casio, Korg, Kurzweil Music Systems, Roland, and Yamaha. The market is highly competitive because of the presence of numerous large and small vendors. Intense competition, rapid advances in technology, and frequent changes in consumer preferences are the primary risk factors for the players in this market. In this market, vendors compete on the basis of product differentiation, portfolio, and pricing to gain maximum market prominence during the forecast period.
A more detailed analysis is available in the Technavio report, Global Digital Keyboard Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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