LONDON--(BUSINESS WIRE)--The viola market size is expected to grow by USD 3.55 million during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
Advancements in web technology have facilitated online tutorial sites to use videos, reference articles, and other teaching methodologies to help individuals learn to play viola. This has also simplified the learning process for individuals with busy work schedules. Moreover, online tutorials are more economical for individuals who cannot afford to pay a high fee. Thus, the availability of learning materials online encourages individuals to buy, learn, and play viola and, hence, is expected to drive the market during the forecast period.
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As per Technavio, the increased popularity of live events will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Viola Market: Increased Popularity of Live Events
The demand for live events is increasing, due to a growing interest in music among the younger generation. With the increasing preference for live events, there is an exponential increase in the number of artists worldwide. This creates a strong demand for various types of equipment from professional musicians and artists. Moreover, live events also inspire fans and followers to buy violas and other musical instruments. Hence, the increasing number of concerts, bands, and live performances will contribute to the popularity of musical instruments, leading to the growth of the market over the forecast period.
“Other factors such as rising interest in music-related leisure activities and growing popularity of online retail will have a significant impact on the growth of the viola market value during the forecast period,” says a senior analyst at Technavio.
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Viola Market: Segmentation Analysis
This market research report segments the viola market by end-user (professional and amateur) and geography (MEA, APAC, Europe, North America, and South America).
The North American region led the viola market in 2018, followed by APAC, Europe, South America, and MEA respectively. The growth of the viola market share in North America can be attributed to several factors such as the increase in popularity of live music concerts, growing adoption of smart musical instruments, increasing number of music schools and the availability of web-based learning materials.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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