Global Digital Keyboard Market 2016-2020
Market outlook of the global digital keyboard market
Technavio’s market research analyst estimates the global digital keyboards market to grow moderately at a CAGR of approximately 3% during the forecast period. The high flexibility offered by the digital keyboards is the primary growth driver for this 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.
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.
Geographical segmentation and analysis of the digital keyboard market
Technavio Announces the Publication of its Research Report – Global Digital Keyboard Market 2016-2020
Technavio recognizes the following companies as the key players in the Global Digital Keyboard Market: Casio, Korg, Kurzweil Music Systems, Roland and Yamaha
Other Prominent Vendors in the market are: Hammond Organ, Hamzer, Nord Keyboards, Orla Direct, and Technics Keyboards.
Commenting on the report, an analyst from Technavio’s team said: “Major musical instrument manufacturers are shifting their focus to emerging markets that have a low penetration rate of digital keyboards. Further, most manufacturers are constantly experimenting with product designs and are introducing new products to stay competitive in the market, which will boost the growth of the global digital keyboard market.”
According to the report, the high flexibility of use and portability of digital keyboards are the drivers of market growth. APAC accounted for the highest market share in 2015, with Japan and China being the key revenue-generating countries. Casio, KORG, Kurzweil Music, Roland, and Yamaha are the key vendors operating in the market.
Further, the report states that long replacement cycle of digital keyboards is a major challenge for the market.
Casio, Korg, Kurzweil Music Systems, Roland, Yamaha, Hammond Organ, Hamzer, Nord Keyboards, Orla Direct, Technics Keyboards.
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