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Global Electronic Musical Instruments Market: About this market
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.
For the detailed list of factors that will drive the global electronic musical instruments market during the forecast period 2020-2024, click here.
With the presence of several major players, the global electronic musical instruments market is fragmented. robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading electronic musical instruments manufacturers, that include 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., and Yamaha Corp.
Also, the electronic musical instruments market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
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.
For the detailed list of factors that will drive the global electronic musical instruments market during the forecast period 2020-2024, click here.
Competitive Landscape
With the presence of several major players, the global electronic musical instruments market is fragmented. robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading electronic musical instruments manufacturers, that include 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., and Yamaha Corp.
Also, the electronic musical instruments market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
- By product type
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The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
