About this market
Rising preference for pre-owned violas among musicians to drive market growth. Consumers often purchase pre-owned musical instruments like guitars, violins, and violas due to cost limitation. Since the cost of new musical instruments is quite high, individuals prefer purchasing used instruments at a reduced cost. analysts have predicted that the viola market will register a CAGR of almost 2% by 2023.
Market Overview
Availability of web-based learning material
With advancements in web technology, several online tutorial sites use videos, reference articles, and other teaching methodologies to help individuals learn how to play viola. This has also simplified the learning process for individuals who have busy work schedules and do not find time to join classes. 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.
High adoption of digital music
Digital music is gaining popularity and acceptance by consumers worldwide. One of the major reasons for its growing share is the ease of access. Also, this increases the need for music production software, in turn negatively impacting the growth of the market.
For the detailed list of factors that will drive and challenge the growth of the viola market during the 2019-2023, view our report.
Competitive Landscape
The market appears to be fragmented and with the presence of several companies including NS Design and Yamaha Corporation the competitive environment is quite intense. Factors such as the rising preference for pre-owned violas among musicians and the availability of web-based learning material, will provide considerable growth opportunities to viola manufactures. Cecilio Musical Instruments, Eastman Music Company, Karl Höfner, NS Design, and Yamaha Corporation are some of the major companies covered in this report.