Global Smart Musical Instruments Market 2018-2022
About this market
The growing importance of music in education is identified as one of the key trends that will gain traction in the market. Learning how to play musical instruments has many benefits. Some of the benefits include language development, brain efficiency, intelligent quotient, enhancement of special-temporal skills, improved concentration, and others. Technavio’s analysts have predicted that the global smart musical instruments market will register a CAGR of over 4% by 2022.Market Overview
Increasing penetration of motion sensors
The popularity of wearable smart musical instruments is rising among consumers as it produces music by monitoring the physical movements or gestures. Motion sensors are sued to detect the body movement and produce predetermined music. Technavio’s analysts have identified the increase in the penetration of motion sensors in smart electronics and smart music instruments as one of the major factors driving the growth of the smart musical instruments market.
Strong competition from traditional musical instruments
The availability of full-time music professionals and a substantial increase in the number of music enthusiasts has resulted in high purchase volume of traditional musical instruments. In addition, the increasing cultural significance of music across many countries has further driven the need for traditional musical instruments. This poses a challenge to the smart musical instruments market.
For the detailed list of factors that will drive and challenge the growth of the smart musical instruments market during the 2018-2022, view our report.
The market appears to be concentrated with the presence of a few companies. Factors such as the increasing penetration of motion sensors and growing importance of music in education will provide considerable growth opportunities to smart musical instruments manufactures. Kawai Musical Instruments Mfg, Kurv Music, Phonotonic, Yamaha Corporation, and Zivix are some of the major companies covered in this report.
Technavio Announces the Publication of its Research Report – Global Smart Musical Instruments Market 2018-2022
Technavio recognizes the following companies as the key players in the global smart musical instruments market: Kawai Musical Instruments Mfg, Kurv Music, Phonotonic, Yamaha Corporation, and Zivix.
Commenting on the report, an analyst from Technavio’s team said: “One trend affecting this market is the emergence of voice-controlled personal assistant integrated musical instruments.”
According to the report, one driver influencing this market is the surge in sales through online distribution channel.
Further, the report states that one challenge affecting this market is the high cost of smart musical instruments.
Kawai Musical Instruments Mfg
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