LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global smart musical instruments market to grow at a CAGR of over 4% during the forecast period, according to their latest market research report.
The penetration of artificial intelligence (AI) in musical instruments is one of the major trends being witnessed in the global smart musical instruments market 2018-2022. In recent years, there has been a considerable increase in the adoption of Al in the musical instruments. Al-integrated smart musical instruments enable users to play the instruments by guiding with displaying LED lights, voice commands, and feedback assistance. In addition, the remote operability functions in a smart musical instrument allow the musician to use smart devices to play it via wireless technology. By downloading appropriate applications on a smartphone, consumers can access their smart musical instruments remotely through Wi-Fi, Bluetooth, or Internet connectivity. Hence, the rise in the adoption of Al in musical instruments will contribute toward the growth of the market during the forecast period.
This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing
According to Technavio analysts, one of the key factors contributing to the growth of the global smart musical instruments market is the increase in the penetration of motion sensors:
Global smart musical instruments market: Increase in the penetration of motion sensors
Musical instrument manufacturers across the world are introducing innovative and technologically advanced products to differentiate, improvise, and break the monotony associated with traditional musical instruments. Wearable smart musical instruments that can produce music with the use of physical movements or gestures have gained momentum in recent times. The motion sensors used in wearable smart instruments detect a particular body movement to produce the predetermined music. Hence, the significant growth in the adoption of motion sensors in the smart electronics and smart musical instruments is estimated to drive the growth of the market during the forecast period.
According to a senior analyst at Technavio, “Apart from the advent of motion sensors, other factors that are driving the growth of the market are importance of music in education and surge in sales through online distribution channel.”
Global smart musical instruments market: Segmentation analysis
The global smart musical instruments market research report provides market segmentation by end-user (professionals and hobbyists), and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The Americas held the largest share of the market in 2017, accounting for over 48% share, followed by the EMEA and APAC respectively. During the forecast period, the Americas is expected to continue dominating the global market followed by the APAC region.
Looking for more information on this market? Request a free sample report
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at media@technavio.com.
