Transparency Market Research
The demand within the global turntables market has been rising on account of advancements in the music industry. The need for a turntable device is felt across a wide domain of the music sector. The popularity of pop culture music and mixed beats has played a vital role in the growth of the global turntables market. The use of a turntable for the development of new and unique music beats has played a vital role in the growth of the global market. The indispensability of music systems at youngsters; parties and other pop events has given an impetus to the growth of the global turntables market. Improvements in the quality of turntables available in the market have also played a vital role in market growth.
Disc jockeys have been turntables very frequently over the past decade, and this factor has also given an impetus to the growth of the global market. Several new trends have become evident across the music industry, and most of these events have aided the growth of the global turntables market. Presence of music schools and institutes across several regions has also given a thrust to the growth of the global turntables market.
On the basis of geography, the global turntables market can be segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. The market for turntables in Europe has been growing on account of the focus given on developing music schools across the region. The market for turntables in Asia Pacific is also gathering momentum.
Turntable, also known as phonograph is a circular rotating platform which is used as a device for playing sound recordings. A turntable uses a motor that spins the platter at a constant speed. A vinyl record also known as phonograph record is placed on top of the spinning platter which converts the vibrations into sound. These vibrations are converted into sound with the help of a technology known as belt drive and direct drive. Belt drive technology spins the platter with an elastic belt which is attached to the motor. The platter is placed on the bearing which is a device that allows a linear movement and remains isolated from the motor.
The platter, in a direct drive turntable is directly attached and spins through the motor. Direct drive turntables helps in providing more accurate and continuous speeds. Many premium turntables use belt drive technology as it provides better sound quality and less noise distortion from the motor. Nevertheless, direct drive turntables provide faster start up times and stronger torque and are normally believed to be sturdy.
The global turntables market is expected to witness steady growth rate in the near future. In the era of digital music, vinyl records provide unparalleled aesthetic appeal. The experience which vinyl records provide to music lovers is one of the major reasons for the increase in demand for turntables. Many music lovers feel that music from a turntable creates high quality sounds. Additionally, turntables possess a cultural quality that is both modern and classic at the same time. Increasing demand for vinyl records and live shows is anticipated to drive the turntables market.
Growing preference for electronic dance music among young millennials is anticipated to increase the number of DJs around the world which in turn is expected to boost the turntables market. Moreover, promotional events such as Record Store Day are also estimated to boost the turntables market. Record Store Day is a promotional event where thousands of independent record stores gather to sell, purchase, and promote vinyl records and turntables. Such events also help in boosting the growth of the turntables market. Turntables have a long lifecycle and hence once purchased last for a long time. This restricts the growth of the turntables market.
One of the latest trends in the global turntables market is the emergence of vinyl records and vintage turntables. The new generation is shifting toward old music forms. Despite cell phones and tablets becoming the latest trends for music, vinyl's vintage novelty is enjoying resurgence in popularity. Young millennials are boosting the growth of vinyl records and vintage turntables.
The global turntables market can be segmented based on automation level, technology, application, distribution channel, and geography. In terms of automation level, the global turntables market can be segmented into manual, semi-automatic, and fully automatic. According to technology, the turntables market can be segmented as direct drive and belt drive technology. Based on application, the turntables market is segmented into home entertainment, bars and music clubs, music production etc. In terms of distribution channel, the turntables market can be segmented as online and offline. The online distribution channel can further be sub segmented into e-commerce websites and company websites whereas the offline market can be sub segmented as specialty stores and large retail formats. In terms of geography, the turntables market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
Some of the prominent players operating in the turntables market includes Crosley Radio (the U.S.), Audio-Technica Corporation (Japan), Denon (Japan), Thorens (Switzerland), Rega (the U.K.), Sony Corporation (Japan), VPI Industries (the U.S.), JR Transrotor (Germany), and Gibson Guitar Corporation (the U.S.). All these players compete with each other in terms of new product designs, technological advancements etc. in order to survive in the market.
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