About electronic musical instrument
Electronic musical instruments are variants of musical instruments, where the music output is produced from electric input. Despite the high average selling price of these instruments, they are increasingly being adopted. The market is observing a growing number of M&A. Strategic alliances, M&A, and partnerships are corporate strategies that help an enterprise sustain its growth. They are undertaken to increase market share, gain new domain knowledge, enter new markets, lower operation costs, enhance industry know-how, improve profitability, and gain new clients.
Technavio’s analysts forecast the global electronic musical instrument market to grow at a CAGR of 1.80% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global electronic musical instrument market for 2017-2021. To calculate the market size, the report considers the revenue generated from the sales of electronic musical instruments globally.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Electronic Musical Instrument Market 2017-2021
Technavio recognizes the following companies as the key players in the global electronic musical instrument market: Denon DJ, Fender Musical Instruments, Gibson Brands, Kawai Musical Instruments, Numark Industries, Pioneer DJ, Roland, Steinway & Sons, and Yamaha.
Other Prominent Vendors in the market are: 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.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is increasing music education in schools. Increasing music education in schools is an important factor that will drive the music market. It helps children develop their music abilities and also helps in the cultivation of new musicians. With busy schedules at schools, children are left with limited time for extracurricular activities such as music.”
According to the report, one of the major drivers for this market is rising number of concerts and live performances. The passion for music among the younger generation has contributed to the growing popularity of concerts and live events. The growing preference for concerts and live performances has led to the formation of many musical bands that perform different types of music, including blues, pop, rock, metal, and electronica.
Further, the report states that the long replacement cycle of musical instruments is a major challenge for musical instrument vendors. The replacement cycle refers to the period between the purchase and the replacement of a musical instrument. Most musical instruments have long replacement cycles. They can be used for many years, and their quality of sound improves with their age.
Denon DJ, Fender Musical Instruments, Gibson Brands, Kawai Musical Instruments, Numark Industries, Pioneer DJ, Roland, Steinway & Sons, Yamaha, Allen & Heath, Audio-Technica, C.F. Martin & Company, D'Addario, Focusrite, Harman International, Hercules, Korg, QRS Music Technology, Reloop, Sennheiser Electronic, Serato Audio Research, Shure.