This global market research report outlines the percussion instrument market share for key regions such as the Americas, APAC, and EMEA. The report considers retailers and individual users as the end-users for percussion instruments. The key vendors analyzed in this report are Gretsch Drums, Ludwig Drums, Remo, Roland, and Yamaha.
Technavio’s market research analysts estimate the global percussion instruments market, to grow at a CAGR of less than 1% between 2016 and 2020. This market has reached saturation, which has pushed major percussion brands to shift their focus from the developed markets to the emerging markets. Americas occupy 53% of the total market share due to the growing number of live events and concerts in the region.
The new market research report from Technavio provides a breakdown and analysis of the percussion instruments segments by technology.
“The availability of several online platforms, such as freepercussionlessons.com and YouTube use videos, reference articles, and other teaching sources to assist individuals in learning to play percussion instruments. These websites have simplified the learning process, because they can be accessed anytime, from anywhere, and provide lessons at an affordable cost. This is leading to more purchases of percussion equipment,” says Soumya Mutsuddi, Lead Analyst, Media & Entertainment, Technavio Research.
Growing popularity of mobile music applications and low replacement cycles are the major challenges in this market. Technological innovations have led to the development of several apps that allow users to play musical instruments virtually on personal electronic devices, such as smartphones and tablets. These apps do not incur any expense to the user and are accessible anywhere (as these are installed on mobile devices). They also provide operational guidance to end users. Resultantly, these apps are gaining high popularity and acceptance worldwide.
The key players in the global percussion instruments market include are Gretsch Drums, Ludwig Drums, Remo, Roland, and Yamaha. This market lacks any ground-breaking innovations or new technological developments. This is a major growth deterrent. Rapid advances in technology and frequent changes in consumer preferences also present significant risks to vendors. Vendors in this market compete on the basis of performance, quality, cost, and financial stability. The competition is anticipated to intensify further during the forecast period.
A more detailed analysis is available in the Technavio report, Global Percussion Instruments Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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