According to the latest market research study by Technavio, the global electronic musical instrument market is expected to grow at a CAGR of close to 2% during the forecast period 2017 to 2021.
This report by Technavio provides an in-depth analysis of the global electronic musical instrument market regarding revenue and emerging market trends. The report also includes a competitive vendor analysis and forecasts for various market segments and all geographical regions.
Technavio research analysts categorize the market based on the type
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The top three revenue contributing type segments are discussed below
Global electronic musical instrument market by public address equipment: Public address equipment includes electronic sound amplification devices like amplifiers, microphones, loudspeakers, and mixing consoles that are used to address a large gathering. These devices are used in combination with other musical instruments to increase the volume of the sound produced.
“The increase in the number of concerts and live events that require public addressing is a major factor that is creating a demand for public address equipment, which is driving the market growth. The equipment used can either be simple or complicated based on the purpose, requirement, and venue where the music is played,” says Ujjwal Doshi, a lead analyst at Technavio for research on media and entertainment services.
Global electronic musical instrument market by digital keyboards: The segment will experience growth during the forecast period owing to the swelling demand for digital keyboards in developed and developing countries. The increased need for different types of music sound will drive the growth of this segment. Digital keyboards can produce sounds of other instruments and can store pre-set music and are highly flexible regarding space and portability compared to pianos.
Global electronic musical instrument market by string instruments: The electric guitar segment is anticipated to have steady growth during the forecast period because of the increasing interest of consumers in different styles of music. The growing popularity of live concerts is a major factor contributing to the market growth. The number of audiences for these live events is increasing, which is supporting the market growth.
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The top vendors operating in the global electronic musical instrument market are:
- Denon DJ
- Fender Musical Instruments
- Gibson Brands
- Kawai Musical Instruments
- Numark Industries
- Pioneer DJ
- Roland
- Steinway & Sons
- Yamaha
The other prominent vendors in the market include Allen & Heath, Audio-Technica, C.F. Martin & Company, D’Addario, Focusrite, Harman International, Hercules, Korg, QRS Music Technology, Reloop, Sennheiser Electronic, Serato Audio Research, and Shure.
A more detailed analysis is available in the Technavio market research report titled, ‘Global Electronic Musical Instrument Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports
- Global Musical Instruments Market 2016-2020
- Global Music Synthesizers Market 2016-2020
- Global Percussion Instrument Market 2016-2020
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