[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% |
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
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.
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.
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need
and save 40%!
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 |
|
Regions Covered |
|
Key Countries Profiled |
|
Key Companies Profiled |
|
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
Explore Technology Insights
View Reports