Electronic Musical Instruments Market Size to Grow by USD 505.09 Million from 2021 to 2026
Electronic Musical Instruments Market Size to Grow by USD 505.09 Million from 2021 to 2026, Growing Demand for Music-related Leisure Activities to drive the Market Growth
NEW YORK , July 21, 2022 /PRNewswire/ — The Electronic Musical Instruments Market is categorized as a part of the global leisure products industry within the household durables sector by Technavio research analysts. Vendors are incurring additional costs as they are facing challenges in terms of shipping and maintaining sports equipment stocks. This is likely to impact the geographical presence of vendors, as the supply of end-products has declined at retail stores across borders. To overcome this challenge, vendors are offering free shipping or supplementing partial shipping costs for delivering at offline stores in countries or areas that have witnessed negligible or no cases of COVID-19. Moreover, the Electronic Musical Instruments Market will witness a Y-O-Y growth of 2.43% in 2022 at a CAGR of 3.09% during the forecast period.
Geographical Market Analysis
The market is segmented by Geography (North America, Europe, APAC, South America, and Middle East and Africa).
44% of the market’s growth will originate from North America during the forecast period. The US is the key market for electronic musical instruments in North America. Market growth in this region will be slower than the growth of the market in the South American, MEA, and APAC regions.
The launch of innovative products, the increasing use of online platforms to purchase electronic musical instruments, and the rising demand for customized electronic musical instruments will facilitate the electronic musical instruments market growth in North America over the forecast period.
To Know More About this market’s Geographical Distribution along with the Detailed Analysis of the Top Regions.
Key Segment Analysis
The electronic musical instruments market is segmented by End-user (electric pianos and keyboards, string instruments, drums and percussion instruments, and others).
The electronic musical instruments market share growth in the electric pianos and keyboards segment will be significant during the forecast period.
The demand for digital synthesizers has increased at a steady rate. Digital synthesizers basically use digital signal processing to recreate an analog sound or to make musical sounds. Digital recordings of acoustic, electric and electronic instruments can also be played using music synthesizers.
With rapid advances in technology, more features are introduced in digital synthesizers than in analog synthesizers. Some of the major vendors operating in the global electronic musical instruments market offer advanced music synthesizers, which further enhance the value sales of these instruments.
Key Market Driver
One of the key factors driving growth in the global electronic musical instruments market is the growing demand for music-related leisure activities.
Learning to play electronic musical instruments is one of the leisure activities that is gaining popularity among people of all age groups.
The growing disposable income of people is supporting the adoption of different electronic musical instruments, as well as aiding people to enroll in music classes.
The number of live music shows and the attendees of such shows is growing rapidly across the world.
The market in focus is witnessing a large number of developments with regard to the introduction of innovative music synthesizers by the major vendors.
Such factors are expected to augment the growth of the global electronic musical instruments market during the forecast period.
Major Market Challenge
The increasing adoption of virtual musical instruments and music production software will be a major challenge for the electronic musical instruments market during the forecast period.
Music production software can create music of any instrument, tone, or magnitude with just a click of a button.
Music composers are gradually adopting music production software instead of physical instruments as it enables better mobility and fewer hassles and can record music anytime and anywhere without a proper environment/studio.
Various laptop brands also support some of the popular music production software. Such music production software is gaining popularity across the globe, owing to the increasing number of marketing campaigns by various laptop manufacturers that support such software.
The rising penetration of mobile devices such as smartphones and tablets and the availability of high-speed Internet connectivity are driving the demand for and access to virtual musical instruments.
The wide availability and affordability of the Internet have increased the number of consumers accessing digital music on their mobile devices. All these factors act as a major challenge to the growth of the global electronic musical instruments market.
Vendor Insights
Alpher Basses
Anderson Guitarworks
C. F. Martin and Co. Inc.
CASIO Computer Co. Ltd.
Fender Musical Instruments Corp.
Focusrite Plc
Gibson Brands Inc.
inMusic Brands Inc.
Kawai Musical Instruments Mfg. Co. Ltd.
KORG Inc.
Marshall Morrison Instruments Pty. Ltd.
Music Tribe Global Brands Ltd.
Native Instruments GmbH
NS Design
QRS Music Technologies Inc.
Rickenbacker International Corp.
Roland Corp.
Steinway Inc.
teenage engineering ab
Yamaha Corp.
The electronic musical instruments market is fragmented and the vendors are deploying growth strategies such as differentiating themselves based on quality, regulatory compliance, and innovation to compete in the market.
Electronic Musical Instruments Market 2022-2026: Key Highlights
CAGR of the market during the forecast period 2022-2026
Detailed information on factors that will assist Electronic Musical Instruments Market growth during the next five years
Estimation of the Electronic Musical Instruments Market size and its contribution to the parent market
Predictions on upcoming trends and changes in consumer behavior
The growth of the Electronic Musical Instruments Market
Analysis of the market’s competitive landscape and detailed information on vendors
Comprehensive details of factors that will challenge the growth of Electronic Musical Instruments Market vendors
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Smart Musical Instruments Market by Technology, End-user, and Geography – Forecast and Analysis 2022-2026: The market value is set to grow by USD 15.73 million, progressing at a CAGR of 4.43% from 2021 to 2026, as per the latest report by Technavio. The increase in the penetration of motion sensors is notably driving the smart musical instruments market growth, although factors such as the high cost of smart musical instruments may impede the market growth.
Musical Instrument Market Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2022-2026: The market value is set to grow by USD 1.55 million, progressing at a CAGR of 3.15% from 2021 to 2026, as per the latest report by Technavio. The musical instrument market is fragmented and the vendors are deploying growth strategies such as offering customized stationery products and sell products in bulk through e-auctioning to compete in the market
Table of Contents
1 Executive Summary
1.1 Market overview
Exhibit 01: Executive Summary – Chart on Market Overview
Exhibit 02: Executive Summary – Data Table on Market Overview
Exhibit 03: Executive Summary – Chart on Global Market Characteristics
Exhibit 04: Executive Summary – Chart on Market by Geography
Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
Exhibit 06: Executive Summary – Chart on Incremental Growth
Exhibit 07: Executive Summary – Data Table on Incremental Growth
Exhibit 08: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
2.1 Market ecosystem
Exhibit 09: Parent market
Exhibit 10: Market Characteristics
3 Market Sizing
3.1 Market definition
Exhibit 11: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 12: Market segments
3.3 Market size 2021
3.4 Market outlook: Forecast for 2021-2026
Exhibit 13: Chart on Global – Market size and forecast 2021-2026 ($ million)
Exhibit 14: Data Table on Global – Market size and forecast 2021-2026 ($ million)
Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)
4 Five Forces Analysis
4.1 Five forces summary
Exhibit 17: Five forces analysis – Comparison between 2021 and 2026
4.2 Bargaining power of buyers
Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
4.3 Bargaining power of suppliers
Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
4.4 Threat of new entrants
Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
4.5 Threat of substitutes
Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
4.6 Threat of rivalry
Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
4.7 Market condition
Exhibit 23: Chart on Market condition – Five forces 2021 and 2026
5 Market Segmentation by End-user
5.1 Market segments
Exhibit 24: Chart on End-user – Market share 2021-2026 (%)
Exhibit 25: Data Table on End-user – Market share 2021-2026 (%)
5.2 Comparison by End-user
Exhibit 26: Chart on Comparison by End-user
Exhibit 27: Data Table on Comparison by End-user
5.3 Electric pianos and keyboards – Market size and forecast 2021-2026
Exhibit 28: Chart on Electric pianos and keyboards – Market size and forecast 2021-2026 ($ million)
Exhibit 29: Data Table on Electric pianos and keyboards – Market size and forecast 2021-2026 ($ million)
Exhibit 30: Chart on Electric pianos and keyboards – Year-over-year growth 2021-2026 (%)
Exhibit 31: Data Table on Electric pianos and keyboards – Year-over-year growth 2021-2026 (%)
5.4 String instruments – Market size and forecast 2021-2026
Exhibit 32: Chart on String instruments – Market size and forecast 2021-2026 ($ million)
Exhibit 33: Data Table on String instruments – Market size and forecast 2021-2026 ($ million)
Exhibit 34: Chart on String instruments – Year-over-year growth 2021-2026 (%)
Exhibit 35: Data Table on String instruments – Year-over-year growth 2021-2026 (%)
5.5 Drums and percussion instruments – Market size and forecast 2021-2026
Exhibit 36: Chart on Drums and percussion instruments – Market size and forecast 2021-2026 ($ million)
Exhibit 37: Data Table on Drums and percussion instruments – Market size and forecast 2021-2026 ($ million)
Exhibit 38: Chart on Drums and percussion instruments – Year-over-year growth 2021-2026 (%)
Exhibit 39: Data Table on Drums and percussion instruments – Year-over-year growth 2021-2026 (%)
5.6 Others – Market size and forecast 2021-2026
Exhibit 40: Chart on Others – Market size and forecast 2021-2026 ($ million)
Exhibit 41: Data Table on Others – Market size and forecast 2021-2026 ($ million)
Exhibit 42: Chart on Others – Year-over-year growth 2021-2026 (%)
Exhibit 43: Data Table on Others – Year-over-year growth 2021-2026 (%)
5.7 Market opportunity by End-user
Exhibit 44: Market opportunity by End-user ($ million)
6 Customer Landscape
6.1 Customer landscape overview
Exhibit 45: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
7 Geographic Landscape
7.1 Geographic segmentation
Exhibit 46: Chart on Market share by geography 2021-2026 (%)
Exhibit 47: Data Table on Market share by geography 2021-2026 (%)
7.2 Geographic comparison
Exhibit 48: Chart on Geographic comparison
Exhibit 49: Data Table on Geographic comparison
7.3 North America – Market size and forecast 2021-2026
Exhibit 50: Chart on North America – Market size and forecast 2021-2026 ($ million)
Exhibit 51: Data Table on North America – Market size and forecast 2021-2026 ($ million)
Exhibit 52: Chart on North America – Year-over-year growth 2021-2026 (%)
Exhibit 53: Data Table on North America – Year-over-year growth 2021-2026 (%)
7.4 Europe – Market size and forecast 2021-2026
Exhibit 54: Chart on Europe – Market size and forecast 2021-2026 ($ million)
Exhibit 55: Data Table on Europe – Market size and forecast 2021-2026 ($ million)
Exhibit 56: Chart on Europe – Year-over-year growth 2021-2026 (%)
Exhibit 57: Data Table on Europe – Year-over-year growth 2021-2026 (%)
7.5 APAC – Market size and forecast 2021-2026
Exhibit 58: Chart on APAC – Market size and forecast 2021-2026 ($ million)
Exhibit 59: Data Table on APAC – Market size and forecast 2021-2026 ($ million)
Exhibit 60: Chart on APAC – Year-over-year growth 2021-2026 (%)
Exhibit 61: Data Table on APAC – Year-over-year growth 2021-2026 (%)
7.6 South America – Market size and forecast 2021-2026
Exhibit 62: Chart on South America – Market size and forecast 2021-2026 ($ million)
Exhibit 63: Data Table on South America – Market size and forecast 2021-2026 ($ million)
Exhibit 64: Chart on South America – Year-over-year growth 2021-2026 (%)
Exhibit 65: Data Table on South America – Year-over-year growth 2021-2026 (%)
7.7 Middle East and Africa – Market size and forecast 2021-2026
Exhibit 66: Chart on Middle East and Africa – Market size and forecast 2021-2026 ($ million)
Exhibit 67: Data Table on Middle East and Africa – Market size and forecast 2021-2026 ($ million)
Exhibit 68: Chart on Middle East and Africa – Year-over-year growth 2021-2026 (%)
Exhibit 69: Data Table on Middle East and Africa – Year-over-year growth 2021-2026 (%)
7.8 US – Market size and forecast 2021-2026
Exhibit 70: Chart on US – Market size and forecast 2021-2026 ($ million)
Exhibit 71: Data Table on US – Market size and forecast 2021-2026 ($ million)
Exhibit 72: Chart on US – Year-over-year growth 2021-2026 (%)
Exhibit 73: Data Table on US – Year-over-year growth 2021-2026 (%)
7.9 China – Market size and forecast 2021-2026
Exhibit 74: Chart on China – Market size and forecast 2021-2026 ($ million)
Exhibit 75: Data Table on China – Market size and forecast 2021-2026 ($ million)
Exhibit 76: Chart on China – Year-over-year growth 2021-2026 (%)
Exhibit 77: Data Table on China – Year-over-year growth 2021-2026 (%)
7.10 Germany – Market size and forecast 2021-2026
Exhibit 78: Chart on Germany – Market size and forecast 2021-2026 ($ million)
Exhibit 79: Data Table on Germany – Market size and forecast 2021-2026 ($ million)
Exhibit 80: Chart on Germany – Year-over-year growth 2021-2026 (%)
Exhibit 81: Data Table on Germany – Year-over-year growth 2021-2026 (%)
7.11 France – Market size and forecast 2021-2026
Exhibit 82: Chart on France – Market size and forecast 2021-2026 ($ million)
Exhibit 83: Data Table on France – Market size and forecast 2021-2026 ($ million)
Exhibit 84: Chart on France – Year-over-year growth 2021-2026 (%)
Exhibit 85: Data Table on France – Year-over-year growth 2021-2026 (%)
7.12 Japan – Market size and forecast 2021-2026
Exhibit 86: Chart on Japan – Market size and forecast 2021-2026 ($ million)
Exhibit 87: Data Table on Japan – Market size and forecast 2021-2026 ($ million)
Exhibit 88: Chart on Japan – Year-over-year growth 2021-2026 (%)
Exhibit 89: Data Table on Japan – Year-over-year growth 2021-2026 (%)
7.13 Market opportunity by geography
Exhibit 90: Market opportunity by geography ($ million)
8 Drivers, Challenges, and Trends
8.1 Market drivers
8.2 Market challenges
8.3 Impact of drivers and challenges
Exhibit 91: Impact of drivers and challenges in 2021 and 2026
8.4 Market trends
9 Vendor Landscape
9.1 Overview
9.2 Vendor landscape
Exhibit 92: Overview on Criticality of inputs and Factors of differentiation
9.3 Landscape disruption
Exhibit 93: Overview on factors of disruption
9.4 Industry risks
Exhibit 94: Impact of key risks on business
10 Vendor Analysis
10.1 Vendors covered
Exhibit 95: Vendors covered
10.2 Market positioning of vendors
Exhibit 96: Matrix on vendor position and classification
10.3 Anderson Guitarworks
Exhibit 97: Anderson Guitarworks – Overview
Exhibit 98: Anderson Guitarworks – Product / Service
Exhibit 99: Anderson Guitarworks – Key offerings
10.4 C. F. Martin and Co. Inc.
Exhibit 100: C. F. Martin and Co. Inc. – Overview
Exhibit 101: C. F. Martin and Co. Inc. – Product / Service
Exhibit 102: C. F. Martin and Co. Inc. – Key news
Exhibit 103: C. F. Martin and Co. Inc. – Key offerings
10.5 CASIO Computer Co. Ltd.
Exhibit 104: CASIO Computer Co. Ltd. – Overview
Exhibit 105: CASIO Computer Co. Ltd. – Business segments
Exhibit 106: CASIO Computer Co. Ltd. – Key offerings
Exhibit 107: CASIO Computer Co. Ltd. – Segment focus
10.6 Fender Musical Instruments Corp.
Exhibit 108: Fender Musical Instruments Corp. – Overview
Exhibit 109: Fender Musical Instruments Corp. – Product / Service
Exhibit 110: Fender Musical Instruments Corp. – Key news
Exhibit 111: Fender Musical Instruments Corp. – Key offerings
10.7 Focusrite Plc
Exhibit 112: Focusrite Plc – Overview
Exhibit 113: Focusrite Plc – Business segments
Exhibit 114: Focusrite Plc – Key offerings
Exhibit 115: Focusrite Plc – Segment focus
10.8 Gibson Brands Inc.
Exhibit 116: Gibson Brands Inc. – Overview
Exhibit 117: Gibson Brands Inc. – Product / Service
Exhibit 118: Gibson Brands Inc. – Key news
Exhibit 119: Gibson Brands Inc. – Key offerings
10.9 inMusic Brands Inc.
Exhibit 120: inMusic Brands Inc. – Overview
Exhibit 121: inMusic Brands Inc. – Product / Service
Exhibit 122: inMusic Brands Inc. – Key offerings
10.10 Kawai Musical Instruments Mfg. Co. Ltd.
Exhibit 123: Kawai Musical Instruments Mfg. Co. Ltd. – Overview
Exhibit 124: Kawai Musical Instruments Mfg. Co. Ltd. – Product / Service
Exhibit 125: Kawai Musical Instruments Mfg. Co. Ltd. – Key offerings
10.11 KORG Inc.
Exhibit 126: KORG Inc. – Overview
Exhibit 127: KORG Inc. – Product / Service
Exhibit 128: KORG Inc. – Key offerings
10.12 Marshall Morrison Instruments Pty. Ltd.
Exhibit 129: Marshall Morrison Instruments Pty. Ltd. – Overview
Exhibit 130: Marshall Morrison Instruments Pty. Ltd. – Product / Service
Exhibit 131: Marshall Morrison Instruments Pty. Ltd. – Key offerings
11 Appendix
11.1 Scope of the report
11.2 Inclusions and exclusions checklist
Exhibit 132: Inclusions checklist
Exhibit 133: Exclusions checklist
11.3 Currency conversion rates for US$
Exhibit 134: Currency conversion rates for US$
11.4 Research methodology
Exhibit 135: Research methodology
Exhibit 136: Validation techniques employed for market sizing
Exhibit 137: Information sources
11.5 List of abbreviations
Exhibit 138: List of abbreviations
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