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NEW YORK, Aug. 23, 2022 /PRNewswire/ — One of the trends in the electronic musical instruments market is the continuous development of new products. Vendors have come up with innovative products to remain competitive in the market. For instance, in December 2021, Gibson Brands, Inc. launched Dave Mustaines Flying V-shaped guitar model. Also, in July 2021, Casio launched two new digital pianos in its PX series of digital pianos. Similarly, in September 2019, Roland launched JUPITER-X, a new series of premium synthesizers. In addition, in January 2019, Gibson Brands Inc. (Gibson) announced the launch of a limited-edition Chris Cornell Tribute ES-335 guitar.
The electronic musical instruments market size is expected to increase by USD 505.09 mn from 2021 to 2026. In addition, the growth momentum of the market will accelerate at a CAGR of 3.09% during the forecast period.
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Electronic Musical Instruments Market: Vendor Landscape
Technavio categorizes the global electronic musical instruments market as a part of the global leisure products industry within the global household durables market. The parent market, the global leisure products market, covers a variety of categories, including sports equipment, electronic musical instruments, camping equipment, recreational vehicles, bicycles, toys, and other consumer-oriented games.
Electronic Musical Instruments Market: Market Segmentation
The report on the electronic musical instruments market offers a comprehensive analysis by end-user (electric pianos and keyboards, string instruments, drums and percussion instruments, and others) and geography (North America, Europe, APAC, South America, and the Middle East and Africa).
By end-user, the electric pianos and keyboards segment will contribute the highest market share growth during the forecast period. By geography, North America is expected to occupy 44% of the market share in 2020.
Electronic Musical Instruments Market: Major Growth Drivers
The growing demand for music-related leisure activities is driving the growth of the market. Learning to play electronic musical instruments is gaining popularity among people of all age groups. With the growing disposable income, people are enrolling in music classes. In addition, the number of live music shows is growing rapidly across the world. Moreover, major vendors are introducing innovative music synthesizers. Such factors are expected to fuel the growth of the global electronic musical instruments market during the forecast period.
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Electronic Musical Instruments Market: Key Vendor Offerings
Reasons to Buy Electronic Musical Instruments Market Report
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Electronic Musical Instruments Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of 3.09%
Market growth 2022-2026
USD 505.09 million
YoY growth (%)
North America, Europe, APAC, South America, and Middle East and Africa
Performing market contribution
North America at 44%
Key consumer countries
US, China, Japan, Germany, and France
Leading companies, competitive strategies, consumer engagement scope
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, and Yamaha Corp.
Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, and market condition analysis for the forecast period.
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Table of Contents
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by End-user
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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