DUBLIN--(BUSINESS WIRE)--The "Electronic Musical Instruments Market by Product and Geography - Forecast and Analysis 2020-2024" report has been added to ResearchAndMarkets.com's offering.
Global Electronic Musical Instruments Market: About this market
The electronic musical instruments market analysis considers sales from electric pianos and keyboards, string instruments, drums and percussion instruments, and other products. Our study also finds the sales of electronic musical instruments in APAC, Europe, MEA, North America, and South America. In 2019, the electric pianos segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as generating audio signals to imitate both traditional music instruments such as flute and vocals, as well as new sounds that fit the requirement of new-generation music producers will play a significant role in the electric pianos segment to maintain its market position. Also, our global electronic musical instruments market report looks at factors such as growing demand for music-related activities, rising number of music festivals and live events, and inclusion of music in academic curricula. However, increasing adoption of virtual musical instruments and music production software, availability of used electronic musical instruments, and long replacement cycle may hamper the growth of the electronic musical instruments industry over the forecast period.
Global Electronic Musical Instruments Market: Overview
Inclusion of music in academic curricula
The participation of students in extracurricular activities helps reduce stress, improve productivity, and enhance confidence levels. Thus, several schools, colleges, and universities are including extracurricular activities and add-on courses, in music, into their curricula. Universities and academic institutions such as the University of Cambridge, Princeton University, and Harvard University offer music learning sessions and courses, apart from academics. Over the years, there has been a significant increase in the number of school enrollments globally, which is also contributing to the increasing participation of extracurricular activities, including music. This inclusion of music in academic curricula will lead to the expansion of the global electronic musical instruments market at a CAGR of almost 3% during the forecast period.
Increasing demand for customized electronic musical instruments
Customization of electronic musical instruments, such as electronic guitars and pianos, is an emerging trend in the market. Leading market players offer customized products that are visually appealing and of high quality. The extent of customization can vary from the color of electronic musical instruments to their style. For instance, C. F. Martin & Co. Inc. offers customization of guitars, which allows customers to select from premium exotic and traditional hardwood options; design their own inlays; and customize the shape, style, and design of guitar necks. This development is expected to have a positive impact on the overall market growth.
Key Topics Covered:
PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
- Currency conversion rates for US$
PART 03: MARKET LANDSCAPE
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Value chain analysis
PART 04: MARKET SIZING
- Market definition
- Market sizing 2019
- Market outlook
- Market size and forecast 2019-2024
PART 05: FIVE FORCES ANALYSIS
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
PART 06: MARKET SEGMENTATION BY PRODUCT
- Market segmentation by product
- Comparison by product
- Electric pianos and keyboards - Market size and forecast 2019-2024
- String instruments - Market size and forecast 2019-2024
- Drums and percussion instruments - Market size and forecast 2019-2024
- Others - Market size and forecast 2019-2024
- Market opportunity by product
PART 07: CUSTOMER LANDSCAPE
PART 08: GEOGRAPHIC LANDSCAPE
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- APAC - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity
PART 09: DECISION FRAMEWORK
PART 10: DRIVERS AND CHALLENGES
- Market drivers
- Market challenges
PART 11: MARKET TRENDS
- Continuous development of new products
- Rise in availability of music synthesizer clones
- Increasing demand for customized electronic musical instruments
PART 12: VENDOR LANDSCAPE
- Landscape disruption
- Competitive scenario
PART 13: VENDOR ANALYSIS
- Vendors covered
- Vendor classification
- Market positioning of vendors
- C. F. Martin & Co. Inc.
- CASIO COMPUTER CO. LTD.
- Fender Musical Instruments Corp.
- Gibson Brands Inc.
- inMusic Brands Inc.
- Kawai Musical Instruments Manufacturing Co. Ltd.
- Korg Inc.
- NS Design
- Roland Corp.
- Yamaha Corp.
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