London, 16 July 2015: Technavio, the independent tech-focused global research firm, has published a report on the global musical instruments market 2015-2019, which is expected to grow at a CAGR of 1.89% during the forecast period of 2014-2019.
Increasing interest in various forms of music is the primary reason behind the growth of this market. Growing interest in music has increased the popularity of live concerts, which has in turn facilitated the sale of musical instruments. The recent increase in the interest of people to play instruments in their free time is also augmenting the demand for musical instruments.
“With the advances in web technology, numerous online and tutorial sites such as Justinguitar.com and YouTube.com help consumers learn to play various musical instruments by taking guidance from videos, reference articles, and other teaching methodologies available on these sites,” says Faisal Ghaus, Vice President of Technavio.
“This has simplified the learning process for consumers who are unable to join musical classes because of difficult work schedules. Also, people who cannot afford to pay the high fees of traditional music classes can learn online for free or for minimal fees.”
Key Market Drivers:
- Increase in Number of Concerts and Live Performances.
- Rise in Disposable Income.
- Increased Demand from Emerging Countries.
- Increased Interest in Musical Education.
Key Market Trends:
- Availability of Free Online Learning Materials.
- Increase in Introduction of New Products.
- Increase in M&A.
- Rise in Popularity of Online Retail.
Key Market Vendors:
- Fender Musical Instruments Corp.
- Gibson Brands Inc.
- Kawai Musical Instruments Manufacturing Co. Ltd.
- Roland Corp.
- Steinway Musical Instruments Inc.
- Yamaha Corp.
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges, and trends featuring data on product segmentations, vendor shares, growth rate by revenue, and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
