Smart Musical Instruments Market – 35% of Growth to Originate from North America
Smart Musical Instruments Market – 35% of Growth to Originate from North Americ – Increase in the Penetration of Motion Sensors to Boost Market | 17000+ Technavio Reports
NEW YORK, Feb. 28, 2022 /PRNewswire/ — The “Smart Musical Instruments Market by Technology (Connected instruments and Wearables), End-user (Professionals and Hobbyists), and Geography (North America, APAC, Europe, South America, and MEA) – Forecast and Analysis 2022-2026” report has been added to Technavio’s offering. With ISO 9001:2015 certification, Technavio is proudly partnering with more than 100 Fortune 500 companies for over 16 years. 35% of the market’s growth will originate from North America during the forecast period. US and Canada are the key markets for smart musical instruments market in North America. Market growth in this region will be slower than the growth of the market in other regions. The increasing popularity of music concerts will facilitate the smart musical instruments market growth in North America over the forecast period.
The potential growth difference for the smart musical instruments market between 2021 and 2026 is USD 15.73 million. To get the exact yearly growth variance and the Y-O-Y growth rate, Talk to our analyst.
Key Market Dynamics:
Market Driver – The increase in the penetration of motion sensors is one of the key drivers supporting the smart musical instruments market growth. Musical instrument manufacturers across the world are introducing innovative and technologically advanced products to differentiate, improvise, and break the monotony associated with traditional musical instruments. Wearable smart musical instruments that can produce music with the use of physical movements or gestures have gained momentum in recent times. The motion sensors used in it detect a particular body movement to produce the predetermined music. Hence, the significant growth in the adoption of motion sensors in smart electronics and smart musical instruments is estimated to drive the growth of the market during the forecast period.
Market Challenges – The high cost of smart musical instruments is one of the factors hindering the smart musical instruments market growth. Most of the smart musical instruments are innovative, technologically advanced, durable, and are of a superior build. As these smart musical instruments are of good-quality and branded products that can endure long use with minimum regular maintenance, they are sold at a higher price. Though smart musical instruments are growing owing to their wide range of benefits among the premium users, the common people are reluctant towards purchasing them due to their expensive cost associations. Hence, it is expected to hamper the growth of the market during the forecast period.
Smart musical instruments market – Segmentation Analysis
The smart musical instruments market report is segmented by Technology (Connected instruments and Wearables), End-user (Professionals and Hobbyists), and Geography (North America, APAC, Europe, South America, and MEA).
The smart musical instruments market share growth by the connected instruments segment will be significant for revenue generation. The connected musical instruments enable the users to learn how to play the musical instrument more quickly and easily. Also, it caters to the requirements of both professional and amateur end-users by offering innovative and technologically advanced features such as wireless connectivity, light-emitting diode (LED) light assistance, audio recording, multi-task song recording, portability, and more. Hence, the is estimated to witness robust growth during the forecast period.
View our sample report for additional insights into the contribution of all the segments, and regional opportunities in the report.
Some Companies Mentioned
The smart musical instruments market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
Artiphon Inc.
CME PTE. LTD.
HyVibe
Kawai Musical Instruments Mfg. Co. Ltd.
Kurv Music Ltd.
The ONE Music Group
TZM Creative Lab
Xiaomi Corp.
Yamaha Corp.
Zivix LLC
Key Topics Covered:
1. Executive Summary
1.1 Market Overview
2. Market Landscape
2.1 Market ecosystem
Exhibit 09: Parent market
Exhibit 10: Market Characteristics
2.2 Value chain analysis
Exhibit 11: Value chain analysis
2.2.1 Inputs
2.2.2 Inbound logistics
2.2.3 Operations
2.2.4 Outbound logistics
2.2.5 Marketing and sales
2.2.6 Service
2.2.7 Support activities
2.2.8 Innovations
3. Market Sizing
3.1 Market definition
Exhibit 12: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 13: Market segments
3.3 Market size 2021
3.4 Market outlook: Forecast for 2021 – 2026
Exhibit 14: Global – Market size and forecast 2021 – 2026 ($ million)
Exhibit 15: Global market: Year-over-year growth 2021 – 2026 (%)
4. Five Forces Analysis
4.1 Five Forces Summary
Exhibit 16: Five forces analysis 2021 & 2026
4.2 Bargaining power of buyers
Exhibit 17: Bargaining power of buyers
4.3 Bargaining power of suppliers
Exhibit 18: Bargaining power of suppliers
4.4 Threat of new entrants
Exhibit 19: Threat of new entrants
4.5 Threat of substitutes
Exhibit 20: Threat of substitutes
4.6 Threat of rivalry
Exhibit 21: Threat of rivalry
4.7 Market condition
Exhibit 22: Market condition – Five forces 2021
5. Market Segmentation by Technology
5.1 Market segments
The segments covered in this chapter are:
Connected instruments
Wearables
Exhibit 23: Technology – Market share 2021-2026 (%)
5.2 Comparison by Technology
Exhibit 24: Comparison by Technology
5.3 Connected instruments – Market size and forecast 2021-2026
Exhibit 25: Connected instruments – Market size and forecast 2021-2026 ($ million)
Exhibit 26: Connected instruments – Year-over-year growth 2021-2026 (%)
5.4 Wearables – Market size and forecast 2021-2026
Exhibit 27: Wearables – Market size and forecast 2021-2026 ($ million)
Exhibit 28: Wearables – Year-over-year growth 2021-2026 (%)
5.5 Market opportunity by Technology
Exhibit 29: Market opportunity by Technology
6. Market Segmentation by End-user
6.1 Market segments
The segments covered in this chapter are:
Professionals
Hobbyists
Exhibit 30: End-user – Market share 2021-2026 (%)
6.2 Comparison by End-user
Exhibit 31: Comparison by End-user
6.3 Professionals – Market size and forecast 2021-2026
Exhibit 32: Professionals – Market size and forecast 2021-2026 ($ million)
Exhibit 33: Professionals – Year-over-year growth 2021-2026 (%)
6.4 Hobbyists – Market size and forecast 2021-2026
Exhibit 34: Hobbyists – Market size and forecast 2021-2026 ($ million)
Exhibit 35: Hobbyists – Year-over-year growth 2021-2026 (%)
6.5 Market opportunity by End-user
Exhibit 36: Market opportunity by End-user
7. Customer landscape
7.1 Overview
Exhibit 37: Customer landscape
8. Geographic Landscape
8.1 Geographic segmentation
The regions covered in the report are:
North America
APAC
Europe
South America
MEA
Exhibit 38: Market share by geography 2021-2026 (%)
8.2 Geographic comparison
Exhibit 39: Geographic comparison
8.3 North America – Market size and forecast 2021-2026
Exhibit 40: North America – Market size and forecast 2021-2026 ($ million)
Exhibit 41: North America – Year-over-year growth 2021-2026 (%)
8.4 APAC – Market size and forecast 2021-2026
Exhibit 42: APAC – Market size and forecast 2021-2026 ($ million)
Exhibit 43: APAC – Year-over-year growth 2021-2026 (%)
8.5 Europe – Market size and forecast 2021-2026
Exhibit 44: Europe – Market size and forecast 2021-2026 ($ million)
Exhibit 45: Europe – Year-over-year growth 2021-2026 (%)
8.6 South America – Market size and forecast 2021-2026
Exhibit 46: South America – Market size and forecast 2021-2026 ($ million)
Exhibit 47: South America – Year-over-year growth 2021-2026 (%)
8.7 MEA – Market size and forecast 2021-2026
Exhibit 48: MEA – Market size and forecast 2021-2026 ($ million)
Exhibit 49: MEA – Year-over-year growth 2021-2026 (%)
8.8 Key leading countries
Exhibit 50: Key leading countries
8.9 Market opportunity by geography
Exhibit 51: Market opportunity by geography ($ million)
9. Drivers, Challenges, and Trends
9.1 Market drivers
9.1.1 Increase in the penetration of motion sensors
9.1.2 Surge in sales through online distribution channel
9.1.3 Increasing adoption of smart musical instruments as they enable faster learning
9.2 Market challenges
9.2.1 High cost of smart musical instruments
9.2.2 Strong competition from traditional musical instruments
9.2.3 Nascent stage of the market
Exhibit 52: Impact of drivers and challenges
9.3 Market trends
9.3.1 Penetration of AI in musical instruments
9.3.2 Importance of music in education
9.3.3 Increasing consumer spending on music-related activities
10. Vendor Landscape
10.1 Competitive Scenario
10.2 Overview
Exhibit 53: Vendor landscape
10.3 Landscape disruption
Exhibit 54: Landscape disruption
Exhibit 55: Industry risks
11. Vendor Analysis
11.1 Vendors covered
Exhibit 56: Vendors covered
11.2 Market positioning of vendors
Exhibit 57: Market positioning of vendors
11.3 Artiphon Inc.
Exhibit 58: Artiphon Inc. – Overview
Exhibit 59: Artiphon Inc. – Product and service
Exhibit 60: Artiphon Inc. – Key offerings
11.4 CME PTE. LTD.
Exhibit 61: CME PTE. LTD. – Overview
Exhibit 62: CME PTE. LTD. – Product and service
Exhibit 63: CME PTE. LTD. – Key offerings
11.5 HyVibe
Exhibit 64: HyVibe – Overview
Exhibit 65: HyVibe – Product and service
Exhibit 66: HyVibe – Key offerings
11.6 Kawai Musical Instruments Mfg. Co. Ltd.
Exhibit 67: Kawai Musical Instruments Mfg. Co. Ltd. – Overview
Exhibit 68: Kawai Musical Instruments Mfg. Co. Ltd. – Product and service
Exhibit 69: Kawai Musical Instruments Mfg. Co. Ltd. – Key offerings
11.7 Kurv Music Ltd.
Exhibit 70: Kurv Music Ltd. – Overview
Exhibit 71: Kurv Music Ltd. – Product and service
Exhibit 72: Kurv Music Ltd. – Key offerings
11.8 The ONE Music Group
Exhibit 73: The ONE Music Group – Overview
Exhibit 74: The ONE Music Group – Product and service
Exhibit 75: The ONE Music Group – Key offerings
11.9 TZM Creative Lab
Exhibit 76: TZM Creative Lab – Overview
Exhibit 77: TZM Creative Lab – Product and service
Exhibit 78: TZM Creative Lab – Key offerings
11.10 Xiaomi Corp.
Exhibit 79: Xiaomi Corp. – Overview
Exhibit 80: Xiaomi Corp. – Business segments
Exhibit 81: Xiaomi Corp. – Key offerings
Exhibit 82: Xiaomi Corp. – Segment focus
11.11 Yamaha Corp.
Exhibit 83: Yamaha Corp. – Overview
Exhibit 84: Yamaha Corp. – Business segments
Exhibit 85: Yamaha Corp. – Key offerings
Exhibit 86: Yamaha Corp. – Segment focus
11.12 Zivix LLC
Exhibit 87: Zivix LLC – Overview
Exhibit 88: Zivix LLC – Product and service
Exhibit 89: Zivix LLC – Key offerings
12. Appendix
12.1 Scope of the report
12.1.1 Market definition
12.1.2 Objective
12.1.3 Notes and caveats
12.2 Currency conversion rates for US$
Exhibit 90: Currency conversion rates for US$
12.3 Research Methodology
Exhibit 91: Research Methodology
Exhibit 92: Validation techniques employed for market sizing
Exhibit 93: Information sources
12.4 List of abbreviations
Exhibit 94: List of abbreviations
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