Published Date : Mar 29, 2017
Albany, New York, March 29, 2017: MarketResearchReports.biz announced the addition of a new research report to its website. The publication, titled “Global Electronic Musical Instrument Market 2017-2021,” provides a fair assessment of the global market and provides a detailed account of the market dynamics governing its trajectory. The research report also contains a record of the historical events pertaining to the overall market to draw a comparison with the present-day market scenario to determine the progress it will make in the coming years. Additionally, it also evaluates the segments of the global electronic musical instrument market and assesses the factors influencing them.
According to the research report, the global electronic musical instrument market is expected to rise at a CAGR of 1.80% between 2017 and 2021. Though the growth has been estimated at an extremely slow rate, the market will witness a spike in demand products due to growing inclination of consumers towards learning music. The demand various electronic musical instruments will be attributable to the increasing number of parents coaxing children to learn music. Such initiatives taken up by schools and colleges are also expected to boost market’s growth. Furthermore, growing number live performances, emergence of new music bands, and experimentation with music amongst band members are also expected to have a positive influence on the global market.
The various types of electronic musical instruments available in the global market are digital keyboards, public address equipment, string instruments, drums and percussion instruments, DJ gear, music synthesizers, and string instruments. The market also sees introduction of myriad variations of these instruments due to growing demand for customizations amongst musicians. The key drawback for the global electronic music instrument market is the long life of these instruments that leads to lesser new purchases. The market is also being dissuaded by the high cost of these instruments, which prevents several aspiring students from purchasing them. Additionally, the lack of exposure to music, especially in the developing countries, is also expected to challenge the market’s growth.
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Geographically, the global electronic musical instrument market is segmented into Asia Pacific, the Middle East and Africa, North America, and Europe. Of these, Europe and North America hold a dominant share as musicians are open to adopting newer musical instruments. Analysts expect that the Asia Pacific market will also open its doors to electronic musical instruments market during the forecast period as the huge base of young population in the region that will be seen experimenting with music and its forms.
The important players leading the global electronic musical instrument market are Audio-Technica, Denon DJ, Fender Musical Instruments, C.F. Martin & Company, Kawai Musical Instruments, Gibson Brands, Numark Industries, Pioneer DJ, Roland, Yamaha, Steinway & Sons, Allen & Heath, D'Addario, Focusrite, Harman International, Hercules, and Korg. The publication documents these players thoroughly to understanding their plans for operating in the near future. The research report also explains their mergers and acquisition strategies of these players in the coming few years. The chapter on competitive landscape details the threats from new entrants to the global electronic musical instruments and the
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