Key vendors are developing new ideas and technologies to increase their sales
Technavio, a company that develops over 2000 pieces of research every year and covers more than 500 technologies across 80 countries, has announced the top five leading vendors for the global musical instrument market in their latest research report. This report also lists 7 other prominent vendors who are expected to contribute to this market’s growth between 2016-2020.
To identify the top vendors, Technavio’s market research analysts have taken into account the revenue generated by the sales of different musical instruments in the top 10 countries.
- Public address equipment: These are electronic sound amplification devices such as amplifiers, loudspeakers, microphones, and mixing consoles. They are used in conjunction with other musical instruments to increase the volume of the sound produced.
- String instruments: The two most commonly used instruments are guitar and violin. These are either acoustic string instrument or electric string instruments.
This Technavio report, under consumer electronics vertical, is based on the synthesis, analysis, and interpretation of information about the global musical instrument market collected from specialized sources. The analysts have derived insights using a mix of primary and secondary research with an aim to provide a holistic picture of the market.
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Competitive vendor landscape
The players in the market are competing on the basis of product differentiation, portfolio, and pricing. The competition in the market is very intense due to the presence of numerous vendors. The competition in the market is affected by the rapid advances in technology, and frequent changes in consumer preferences. The manufacturers are investing in designing, planning, developing, branding, expanding the existing instruments, and acquiring new players to sustain the competition in the market. The companies need to develop new ideas and technologies and stay up-to-date with the emerging technologies that could influence their service lines. Vendors are forming strategic alliances to increase their foothold in the market and increase their consumer base.
“The vendors in the market are shifting towards online retail to promote and sell their products on various web platforms. The companies are offering a wide selection of musical instruments through the online space. Online shopping approach convenient, cost-saving and aid sellers to attract more customers directly through web portals. Some of the popular websites are gibson.com, ebay.com, and amazon.com. The accessibility of instruments online and the preference to buy products online will fuel the market growth over the period of next four years,” says Ujjwal Doshi, a lead analyst at Technavio for research on consumer electronics.
Top five vendors in the musical instrument market space
Fender Musical Instruments Corporation
The company manufactures and markets string instruments, other related equipment, and accessories. It offers electronic, acoustic, and bass guitars under the brand names Fender, Squier, and Custom Shop. The company also offers portable sound systems, microphones, and music systems for select Volkswagen cars under the brand names Passport, Expo, Slide, and PS-512 Powered Sub.
Key products: Amplifiers, Banjos, Bass instruments, Guitars, Harmonicas, etc.
Gibson Brands
Gibson Brands manufactures musical instruments and offers products through its stores, dealers, online dealers, and distributors. The electric guitar segment includes Ron Wood L-5S, True Historic 1960 Les Paul, True Historic 1959 Les Paul, True Historic 1958 Les Paul, Les Paul Custom Figured, L-9 Archtop, Johnny A Standard w/Bigsby, and Brian Ray SG Standard w/Bigsby guitars. It also offers memory cables that are used in applications such as songwriting, record rehearsals, computer recording insurance, and easy re-amping.
Key products: Archtop guitars, Bass instruments, Guitars, Mandolins, etc.
Kawai Musical Instruments
The company is primarily engaged in the manufacture and sale of musical instruments. It manufactures and sells pianos, electrical musical instruments, the wind, brass, and string instruments and percussions, and accessories. It also offers processed metal materials for electrical and electronic equipment, pig and cast metal, processed materials for automobile parts, acoustic-related products, and soundproof rooms.
Key products: Church organs, Electronic organs, Digital pianos, Grand pianos, Upright pianos, etc.
Roland Corporation
Roland Corporation develops, manufactures, and sells electronic musical instruments, computer peripherals, and software. It manufactures and sells musical instruments like organs and classic keyboards, pianos, synthesizers, guitars and bass gears, arrangers, amplifiers, accordions, recorders, drums and percussions, media production equipment, computer music equipment, and pro-audio and pro-video equipment.
Key products: Accordions, Amplifiers, Drums, Guitars and bass gear, Keyboards, Organs, Pianos, Recorders, Synthesizers, etc.
Steinway & Sons
Steinway & Sons manufactures and sells pianos. The company also offers various collections of pianos like art case, legendary, crown jewel and limited collection, and ebony grands and verticals. It offers pianos for the hospitality industry, colleges, and universities, public and private schools, community music schools, performing arts centers, concert halls, houses of worship, jazz clubs, recording studios, concert artists, pianists, composers, and performers worldwide.
Key products: Grand pianos, Upright pianos, etc.
Other prominent vendors in this market include Audio-Technica, C.F. Martin & Company, D’Addario, Harman International, QRS Music Technology, Sennheiser Electronic, and Shure Incorporated.
A more detailed analysis is available in the Technavio report, Global Musical Instrument Market 2016-2020. Technavio also customizes reports by other regions and specific segments upon request.
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Browse related reports:
- Global Piano Market 2016-2020
- Global Music Synthesizers Market 2016-2020
- Global Percussion Instrument Market 2016-2020
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