NEW YORK, May 8, 2023 /PRNewswire/ — The electronic musical instruments market size is estimated to grow by USD 505.09 million from 2021 to 2026. The market is expected to grow at a CAGR of 3.09% during the forecast period. A key factor driving the growth of the global market is the growing demand for music-related leisure activities. Playing electronic musical instruments is a popular leisure activity among all age groups. With the growing disposable incomes, people are purchasing different electronic musical instruments and are enrolling in music classes. Such factors are expected to augment the growth of the global market during the forecast period. For comprehensive details on the market size and forecast period (2022-2026) – View a sample report
Electronic Musical Instruments Market – Vendor Landscape
The electronic musical instruments market is fragmented; the vendors are competing with each other to gain market shares. The market is growing, and chances of new entrants cannot be overlooked. The major vendors have well-established economies of scale and market presence and generally rely on positioning, technological advances, and the price of the products. The report provides a full list of key vendors, their strategies, and the latest developments. Buy Now
The electronic musical instruments market report includes information on product launches, sustainability, and prospects of leading vendors, including 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.
Electronic Musical Instruments Market – Market Dynamics
The increasing adoption of virtual musical instruments and music production software will be a major challenge impeding the market growth during the forecast period. Music production software can create music of any instrument, tone, or magnitude. Music composers are gradually adopting music production software instead of physical instruments. This enables better mobility, as music can be recorded anytime and anywhere without a proper environment/studio. Various laptop brands support popular music production software. Such software is gaining popularity across the globe owing to the increasing number of marketing campaigns by various laptop manufacturers. Hence, 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 continuous development of new products is an emerging trend that is expected to have a positive impact on the market during the forecast period. Product developments by some market vendors also encourage other vendors to come up with innovative products to remain competitive in the market. For instance, in December 2021, Dave Mustaine Flying V-shaped guitar model was launched by Gibson Brands, Inc. with limited editions, followed by a global launch in February 2022. Similarly, in July 2021, Casio launched two new digital pianos in its PX series of digital pianos. Such trends will impact the growth of the market during the forecast period.
Technavio has identified key trends, drivers, and challenges in the market, which will help clients improve their strategies to stay ahead of their competitors. – View a Sample Report
The report includes competitive analysis, a proprietary tool to analyze and evaluate the position of companies based on their industry position score and market performance score. The competitive scenario categorizes companies based on various performance indicators. Some of the factors considered include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, growth in market share, among others.
Electronic Musical Instruments Market – Market Segmentation
This report extensively covers market segmentation by end-user (electric pianos and keyboards, string instruments, drums and percussion instruments, and others) and geography (North America, Europe, APAC, South America, and Middle East and Africa).
The market share growth by the electric pianos and keyboards segment will be significant for the market growth during the forecast period. The demand for digital synthesizers increases at a steady rate. Digital synthesizers use digital signal processing to recreate an analog sound or to make musical sounds and digital recordings of acoustic, electric, and electronic instruments. Due to rapid advances in technology, more features are being introduced in digital synthesizers than in analog synthesizers. A few of the major vendors operating in the global market offer advanced music synthesizers, which further enhance the value sales of these instruments.
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The music publishing market size is expected to increase by USD 2.41 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 6.73%. Furthermore, this report extensively covers market segmentation by product (live performance, digital sales, physical sales, synchronization, and others) and geography (APAC, North America, Europe, South America, and the Middle East and Africa). The growth of the global music industry is one of the key drivers supporting the music publishing market growth.
The music production equipment market size is expected to increase by USD 1.27 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 2.44%. Furthermore, this report extensively covers market segmentation by type (public address equipment, digital keyboards, studio headphones, DJ gear, and music synthesizers) and geography (APAC, North America, Europe, South America, and Middle East and Africa). The rising number of musicians and artists is notably driving the music production equipment market growth.
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 2021-2022 (%)
North America, Europe, APAC, South America, and Middle East and Africa
Performing market contribution
North America at 44%
US, China, Japan, Germany, and France
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled
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 recovery analysis and future consumer dynamics, 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
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