[333 Pages Report] The electronic musical instruments market is likely to reach a market value of US$ 678.9 Million in 2022. This market is expected to flourish at a CAGR of 3.7% to be valued at US$ 976.9 Million during the forecast period (2022 to 2032). A CAGR of 2.6% was recorded for the electronic musical instruments market from 2016 to 2021.
The progress and growth of the music industry have been facilitated by adopting new technologies in the electronic musical instruments market. Moreover, through the availability of high-quality, affordable instruments and computer software, electronic musical instruments played a crucial part in the democratization of experimental and traditional music composition.
| Report Attribute | Details |
|---|---|
| Electronic Musical Instruments Market Historical Growth Rate (2016-2021) | 2.6% |
| Electronic Musical Instruments Market Value (2022) | US$ 678.9 Million |
| Electronic Musical Instruments Market Forecast Value (2032) | US$ 976.9 Million |
| Electronic Musical Instruments Market Projected Growth Rate (2022-2032) | 3.7% |
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The electronic musical instruments market players have lucrative potential over the projection period owing to new product innovations and technological advancements. The market is also influenced by the young generation's increased interest in music education and the usage of these instruments in the diversification of conventional and experimental music composition through the availability of high-quality instruments at affordable prices.
Additionally, urbanization and digitization, an increase in live music performances and concerts, and a growth in disposable income all benefit the electronic musical instruments market. Another critical reason propelling the growth of the electronic musical instruments market for electronic musical instruments is the expansion of the media and entertainment sector globally. Hence, the rising demand for music-related leisure activities is driving the growth of the electronic musical instruments market.
The electronic musical instruments market is also getting accelerated by the increased use of electronic musical instruments in genres of music like electronic and dance music. Another critical element driving the expansion of the electronic musical instruments market is the increased ability of consumers to spend a sizable amount on music concerts and live performances due to growing disposable income.
The demand for electrical musical instruments will be sustained by Western music's expanding acceptance and impact in emerging nations. The rise in the popularity of live music bands, music reality programs, and concerts is further anticipated to favor the electronic musical instruments market in the coming days.
Lengthier replacement cycles and the high cost of these instruments are anticipated to restrain electronic musical instrument market expansion. The lack of consumer interest in purchasing the devices is also a significant issue limiting electronic musical instrument market trends.
Nowadays, several laptop and smartphone manufacturers also support well-known music-producing applications. Hence, during the forecast period, the electronic musical instruments market is likely to face significant challenges from the rising popularity of these virtual musical instruments and music creation software.
Principal Consultant
Customizing musical instruments like electronic guitars and pianos is one of the emerging trends in the electronic musical instruments market. Thus, personalization and customization of electronic guitars have considerably contributed to the expansion of the musical instruments market by providing several opportunities.
Additionally, leading electronic musical instruments market players might see an opportunity in online sales in the upcoming years. Additionally, e-commerce has become necessary for players to grow their global sales and clientele in addition to shops.
Owing to its relatively developed marketplaces and stable development rate over the projection period, Europe is expected to lead the worldwide electronic musical instruments market, holding a total share of 18%.
Most people in Europe spend a sizeable portion of their money on entertainment services, music festivals, and concerts. An increase in the number of significant players is supporting the expansion of the electronic musical instrument market. Additionally, this region imports the most musical instruments, which significantly boosts the market's earnings. Europe is expected to have a substantial growth rate in the electronic musical instrument market in the subsequent years due to rising leisure spending and increased disposable income.
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North America dominated the electronic musical instruments market, and this trend is anticipated to carry on during the forecast period due to the rapid technological development taking place in this region. Regarding market share, this region is expected to hold a 15.0% share.
The demand for electronic musical instruments will be sustained in the global market largely because of the expanding impact and popularity of music in emerging countries of North America. The primary market for electronic musical instruments in this region is the US.
Throughout the forecast period, North America's electronic musical instruments market will rise due to the introduction of novel items, rising demand for customized electronic musical instruments, and increased usage of online marketplaces for electronic musical instruments.
The market is fiercely competitive due to the existence of a massive magnitude of players. While there are a number of major worldwide companies, like Gibson Brands, Inc., Fender Musical Instruments Corporation, and Kawai Musical Instruments Manufacturing Co., they only represent a modest portion of the market. Several regional-level firms are also active in key geographical areas.
Aurzart, NIKKEI Asia, and Yamaha Make Waves are a few of the start-up businesses that are active in the electronic musical instruments market.
Example:
Aurzart is a renowned music retailer in India that offers a wide variety of musical equipment, including keyboard stands, digital pianos, and guitars.
Recent Developments
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 3.7% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2016-2021 |
| Forecast Period | 2022-2032 |
| Quantitative Units | Revenue in USD Billion and CAGR from 2022-2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered |
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| Regions Covered |
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| Key Countries Profiled |
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| Key Companies Profiled |
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| Customization | Available Upon Request |
The global electronic musical instrument market at a rate of 3.7% (2022-2032).
Europe is expected to hold the highest share obtaining 18% market share.
Electronic musical instrument market is predicted to account for US$ 976.9 Million by 2032.
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Investment Feasibility Matrix
3.5. PESTLE and Porter’s Analysis
3.6. Regulatory Landscape
3.6.1. By Key Regions
3.6.2. By Key Countries
3.7. Regional Parent Market Outlook
4. Global Electronic Musical Instruments Market Analysis 2016-2021 and Forecast, 2022-2032
4.1. Historical Market Size Value (US$ Mn) Analysis, 2016-2021
4.2. Current and Future Market Size Value (US$ Mn) Projections, 2022-2032
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Electronic Musical Instruments Market Analysis 2016-2021 and Forecast 2022-2032, By Product Type
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Mn) Analysis By Product Type, 2016-2021
5.3. Current and Future Market Size Value (US$ Mn) Analysis and Forecast By Product Type, 2022-2032
5.3.1. Public Address Equipment
5.3.2. String Instruments
5.3.3. Digital Keyboards
5.3.4. Electric Pianos
5.3.5. Drums and Percussion Instruments
5.3.6. DJ Gear
5.3.7. Music Synthesizers
5.4. Y-o-Y Growth Trend Analysis By Product Type, 2016-2021
5.5. Absolute $ Opportunity Analysis By Product Type, 2022-2032
6. Global Electronic Musical Instruments Market Analysis 2016-2021 and Forecast 2022-2032, By Component
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Mn) Analysis By Component, 2016-2021
6.3. Current and Future Market Size Value (US$ Mn) Analysis and Forecast By Component, 2022-2032
6.3.1. Hardware
6.3.2. Software
6.4. Y-o-Y Growth Trend Analysis By Component, 2016-2021
6.5. Absolute $ Opportunity Analysis By Component, 2022-2032
7. Global Electronic Musical Instruments Market Analysis 2016-2021 and Forecast 2022-2032, By Region
7.1. Introduction
7.2. Historical Market Size Value (US$ Mn) Analysis By Region, 2016-2021
7.3. Current Market Size Value (US$ Mn) Analysis and Forecast By Region, 2022-2032
7.3.1. North America
7.3.2. Latin America
7.3.3. Europe
7.3.4. Asia Pacific
7.3.5. MEA
7.4. Market Attractiveness Analysis By Region
8. North America Electronic Musical Instruments Market Analysis 2016-2021 and Forecast 2022-2032, By Country
8.1. Historical Market Size Value (US$ Mn) Trend Analysis By Market Taxonomy, 2016-2021
8.2. Market Size Value (US$ Mn) Forecast By Market Taxonomy, 2022-2032
8.2.1. By Country
8.2.1.1. U.S.
8.2.1.2. Canada
8.2.2. By Product Type
8.2.3. By Component
8.3. Market Attractiveness Analysis
8.3.1. By Country
8.3.2. By Product Type
8.3.3. By Component
8.4. Key Takeaways
9. Latin America Electronic Musical Instruments Market Analysis 2016-2021 and Forecast 2022-2032, By Country
9.1. Historical Market Size Value (US$ Mn) Trend Analysis By Market Taxonomy, 2016-2021
9.2. Market Size Value (US$ Mn) Forecast By Market Taxonomy, 2022-2032
9.2.1. By Country
9.2.1.1. Brazil
9.2.1.2. Mexico
9.2.1.3. Rest of Latin America
9.2.2. By Product Type
9.2.3. By Component
9.3. Market Attractiveness Analysis
9.3.1. By Country
9.3.2. By Product Type
9.3.3. By Component
9.4. Key Takeaways
10. Europe Electronic Musical Instruments Market Analysis 2016-2021 and Forecast 2022-2032, By Country
10.1. Historical Market Size Value (US$ Mn) Trend Analysis By Market Taxonomy, 2016-2021
10.2. Market Size Value (US$ Mn) Forecast By Market Taxonomy, 2022-2032
10.2.1. By Country
10.2.1.1. Germany
10.2.1.2. U.K.
10.2.1.3. France
10.2.1.4. Spain
10.2.1.5. Italy
10.2.1.6. Rest of Europe
10.2.2. By Product Type
10.2.3. By Component
10.3. Market Attractiveness Analysis
10.3.1. By Country
10.3.2. By Product Type
10.3.3. By Component
10.4. Key Takeaways
11. Asia Pacific Electronic Musical Instruments Market Analysis 2016-2021 and Forecast 2022-2032, By Country
11.1. Historical Market Size Value (US$ Mn) Trend Analysis By Market Taxonomy, 2016-2021
11.2. Market Size Value (US$ Mn) Forecast By Market Taxonomy, 2022-2032
11.2.1. By Country
11.2.1.1. China
11.2.1.2. Japan
11.2.1.3. South Korea
11.2.1.4. India
11.2.1.5. Malaysia
11.2.1.6. Singapore
11.2.1.7. Australia
11.2.1.8. New Zealand
11.2.1.9. Rest of APAC
11.2.2. By Product Type
11.2.3. By Component
11.3. Market Attractiveness Analysis
11.3.1. By Country
11.3.2. By Product Type
11.3.3. By Component
11.4. Key Takeaways
12. MEA Electronic Musical Instruments Market Analysis 2016-2021 and Forecast 2022-2032, By Country
12.1. Historical Market Size Value (US$ Mn) Trend Analysis By Market Taxonomy, 2016-2021
12.2. Market Size Value (US$ Mn) Forecast By Market Taxonomy, 2022-2032
12.2.1. By Country
12.2.1.1. GCC Countries
12.2.1.2. South Africa
12.2.1.3. Israel
12.2.1.4. Rest of MEA
12.2.2. By Product Type
12.2.3. By Component
12.3. Market Attractiveness Analysis
12.3.1. By Country
12.3.2. By Product Type
12.3.3. By Component
12.4. Key Takeaways
13. Key Countries Electronic Musical Instruments Market Analysis
13.1. U.S.
13.1.1. Pricing Analysis
13.1.2. Market Share Analysis, 2021
13.1.2.1. By Product Type
13.1.2.2. By Component
13.2. Canada
13.2.1. Pricing Analysis
13.2.2. Market Share Analysis, 2021
13.2.2.1. By Product Type
13.2.2.2. By Component
13.3. Brazil
13.3.1. Pricing Analysis
13.3.2. Market Share Analysis, 2021
13.3.2.1. By Product Type
13.3.2.2. By Component
13.4. Mexico
13.4.1. Pricing Analysis
13.4.2. Market Share Analysis, 2021
13.4.2.1. By Product Type
13.4.2.2. By Component
13.5. Germany
13.5.1. Pricing Analysis
13.5.2. Market Share Analysis, 2021
13.5.2.1. By Product Type
13.5.2.2. By Component
13.6. U.K.
13.6.1. Pricing Analysis
13.6.2. Market Share Analysis, 2021
13.6.2.1. By Product Type
13.6.2.2. By Component
13.7. France
13.7.1. Pricing Analysis
13.7.2. Market Share Analysis, 2021
13.7.2.1. By Product Type
13.7.2.2. By Component
13.8. Spain
13.8.1. Pricing Analysis
13.8.2. Market Share Analysis, 2021
13.8.2.1. By Product Type
13.8.2.2. By Component
13.9. Italy
13.9.1. Pricing Analysis
13.9.2. Market Share Analysis, 2021
13.9.2.1. By Product Type
13.9.2.2. By Component
13.10. China
13.10.1. Pricing Analysis
13.10.2. Market Share Analysis, 2021
13.10.2.1. By Product Type
13.10.2.2. By Component
13.11. Japan
13.11.1. Pricing Analysis
13.11.2. Market Share Analysis, 2021
13.11.2.1. By Product Type
13.11.2.2. By Component
13.12. South Korea
13.12.1. Pricing Analysis
13.12.2. Market Share Analysis, 2021
13.12.2.1. By Product Type
13.12.2.2. By Component
13.13. Malaysia
13.13.1. Pricing Analysis
13.13.2. Market Share Analysis, 2021
13.13.2.1. By Product Type
13.13.2.2. By Component
13.14. Singapore
13.14.1. Pricing Analysis
13.14.2. Market Share Analysis, 2021
13.14.2.1. By Product Type
13.14.2.2. By Component
13.15. Australia
13.15.1. Pricing Analysis
13.15.2. Market Share Analysis, 2021
13.15.2.1. By Product Type
13.15.2.2. By Component
13.16. New Zealand
13.16.1. Pricing Analysis
13.16.2. Market Share Analysis, 2021
13.16.2.1. By Product Type
13.16.2.2. By Component
13.17. GCC Countries
13.17.1. Pricing Analysis
13.17.2. Market Share Analysis, 2021
13.17.2.1. By Product Type
13.17.2.2. By Component
13.18. South Africa
13.18.1. Pricing Analysis
13.18.2. Market Share Analysis, 2021
13.18.2.1. By Product Type
13.18.2.2. By Component
13.19. Israel
13.19.1. Pricing Analysis
13.19.2. Market Share Analysis, 2021
13.19.2.1. By Product Type
13.19.2.2. By Component
14. Market Structure Analysis
14.1. Competition Dashboard
14.2. Competition Benchmarking
14.3. Market Share Analysis of Top Players
14.3.1. By Regional
14.3.2. By Product Type
14.3.3. By Component
15. Competition Analysis
15.1. Competition Deep Dive
15.1.1. Gibson Brands, Inc.
15.1.1.1. Overview
15.1.1.2. Product Portfolio
15.1.1.3. Profitability by Market Segments
15.1.1.4. Sales Footprint
15.1.1.5. Strategy Overview
15.1.1.5.1. Marketing Strategy
15.1.2. Fender Musical Instruments Corporation
15.1.2.1. Overview
15.1.2.2. Product Portfolio
15.1.2.3. Profitability by Market Segments
15.1.2.4. Sales Footprint
15.1.2.5. Strategy Overview
15.1.2.5.1. Marketing Strategy
15.1.3. Kawai Musical Instruments Manufacturing Co., Ltd
15.1.3.1. Overview
15.1.3.2. Product Portfolio
15.1.3.3. Profitability by Market Segments
15.1.3.4. Sales Footprint
15.1.3.5. Strategy Overview
15.1.3.5.1. Marketing Strategy
15.1.4. inMusic, Inc.
15.1.4.1. Overview
15.1.4.2. Product Portfolio
15.1.4.3. Profitability by Market Segments
15.1.4.4. Sales Footprint
15.1.4.5. Strategy Overview
15.1.4.5.1. Marketing Strategy
15.1.5. Pioneer Corporation
15.1.5.1. Overview
15.1.5.2. Product Portfolio
15.1.5.3. Profitability by Market Segments
15.1.5.4. Sales Footprint
15.1.5.5. Strategy Overview
15.1.5.5.1. Marketing Strategy
15.1.6. Steinway Musical Instruments, Inc.
15.1.6.1. Overview
15.1.6.2. Product Portfolio
15.1.6.3. Profitability by Market Segments
15.1.6.4. Sales Footprint
15.1.6.5. Strategy Overview
15.1.6.5.1. Marketing Strategy
15.1.7. Yamaha Corporation
15.1.7.1. Overview
15.1.7.2. Product Portfolio
15.1.7.3. Profitability by Market Segments
15.1.7.4. Sales Footprint
15.1.7.5. Strategy Overview
15.1.7.5.1. Marketing Strategy
15.1.8. Roland Corporation
15.1.8.1. Overview
15.1.8.2. Product Portfolio
15.1.8.3. Profitability by Market Segments
15.1.8.4. Sales Footprint
15.1.8.5. Strategy Overview
15.1.8.5.1. Marketing Strategy
15.1.9. Audiotonix Limited
15.1.9.1. Overview
15.1.9.2. Product Portfolio
15.1.9.3. Profitability by Market Segments
15.1.9.4. Sales Footprint
15.1.9.5. Strategy Overview
15.1.9.5.1. Marketing Strategy
15.1.10. Casio Computer Co., Ltd
15.1.10.1. Overview
15.1.10.2. Product Portfolio
15.1.10.3. Profitability by Market Segments
15.1.10.4. Sales Footprint
15.1.10.5. Strategy Overview
15.1.10.5.1. Marketing Strategy
16. Assumptions & Acronyms Used
17. Research Methodology
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Electronic Musical Instruments Market
