Electronic Musical Instruments Market size to grow by USD 505.09 million from 2021 to 2026, Driven by the growing demand for music-related leisure activities - Technavio

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

Company Profiles

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

Major Challenges- 

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.

Key Trends-

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

Competitive Analysis

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 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.

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Table of Contents:

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
• Exhibit 06: Executive Summary – Chart on Incremental Growth
• Exhibit 07: Executive Summary – Data Table on Incremental Growth
• Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 09: Parent market
• Exhibit 10: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 11: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 12: Market segments

• 3.3 Market size 2021

• 3.4 Market outlook: Forecast for 2021-2026 
• Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
• Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
• Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
• Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

• 4.1 Five forces summary
• Exhibit 17: Five forces analysis - Comparison between 2021 and 2026

• 4.2 Bargaining power of buyers 
• Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026

• 4.3 Bargaining power of suppliers 
• Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026

• 4.4 Threat of new entrants 
• Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026

• 4.5 Threat of substitutes 
• Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026

• 4.6 Threat of rivalry
• Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026

• 4.7 Market condition
• Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by End-user

• 5.1 Market segments
• Exhibit 24: Chart on End-user - Market share 2021-2026 (%)
• Exhibit 25: Data Table on End-user - Market share 2021-2026 (%)

• 5.2 Comparison by End-user 
• Exhibit 26: Chart on Comparison by End-user
• Exhibit 27: Data Table on Comparison by End-user

• 5.3 Electric pianos and keyboards - Market size and forecast 2021-2026 
• Exhibit 28: Chart on Electric pianos and keyboards - Market size and forecast 2021-2026 ($ million)
• Exhibit 29: Data Table on Electric pianos and keyboards - Market size and forecast 2021-2026 ($ million)
• Exhibit 30: Chart on Electric pianos and keyboards - Year-over-year growth 2021-2026 (%)
• Exhibit 31: Data Table on Electric pianos and keyboards - Year-over-year growth 2021-2026 (%)

• 5.4 String instruments - Market size and forecast 2021-2026 
• Exhibit 32: Chart on String instruments - Market size and forecast 2021-2026 ($ million)
• Exhibit 33: Data Table on String instruments - Market size and forecast 2021-2026 ($ million)
• Exhibit 34: Chart on String instruments - Year-over-year growth 2021-2026 (%)
• Exhibit 35: Data Table on String instruments - Year-over-year growth 2021-2026 (%)

• 5.5 Drums and percussion instruments - Market size and forecast 2021-2026 
• Exhibit 36: Chart on Drums and percussion instruments - Market size and forecast 2021-2026 ($ million)
• Exhibit 37: Data Table on Drums and percussion instruments - Market size and forecast 2021-2026 ($ million)
• Exhibit 38: Chart on Drums and percussion instruments - Year-over-year growth 2021-2026 (%)
• Exhibit 39: Data Table on Drums and percussion instruments - Year-over-year growth 2021-2026 (%)

• 5.6 Others - Market size and forecast 2021-2026 
• Exhibit 40: Chart on Others - Market size and forecast 2021-2026 ($ million)
• Exhibit 41: Data Table on Others - Market size and forecast 2021-2026 ($ million)
• Exhibit 42: Chart on Others - Year-over-year growth 2021-2026 (%)
• Exhibit 43: Data Table on Others - Year-over-year growth 2021-2026 (%)

• 5.7 Market opportunity by End-user 
• Exhibit 44: Market opportunity by End-user ($ million)

6 Customer Landscape

• 6.1 Customer landscape overview 
• Exhibit 45: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

• 7.1 Geographic segmentation 
• Exhibit 46: Chart on Market share by geography 2021-2026 (%)
• Exhibit 47: Data Table on Market share by geography 2021-2026 (%)

• 7.2 Geographic comparison 
• Exhibit 48: Chart on Geographic comparison
• Exhibit 49: Data Table on Geographic comparison

• 7.3 North America - Market size and forecast 2021-2026 
• Exhibit 50: Chart on North America - Market size and forecast 2021-2026 ($ million)
• Exhibit 51: Data Table on North America - Market size and forecast 2021-2026 ($ million)
• Exhibit 52: Chart on North America - Year-over-year growth 2021-2026 (%)
• Exhibit 53: Data Table on North America - Year-over-year growth 2021-2026 (%)

• 7.4 Europe - Market size and forecast 2021-2026 
• Exhibit 54: Chart on Europe - Market size and forecast 2021-2026 ($ million)
• Exhibit 55: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
• Exhibit 56: Chart on Europe - Year-over-year growth 2021-2026 (%)
• Exhibit 57: Data Table on Europe - Year-over-year growth 2021-2026 (%)

• 7.5 APAC - Market size and forecast 2021-2026 
• Exhibit 58: Chart on APAC - Market size and forecast 2021-2026 ($ million)
• Exhibit 59: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
• Exhibit 60: Chart on APAC - Year-over-year growth 2021-2026 (%)
• Exhibit 61: Data Table on APAC - Year-over-year growth 2021-2026 (%)

• 7.6 South America - Market size and forecast 2021-2026 
• Exhibit 62: Chart on South America - Market size and forecast 2021-2026 ($ million)
• Exhibit 63: Data Table on South America - Market size and forecast 2021-2026 ($ million)
• Exhibit 64: Chart on South America - Year-over-year growth 2021-2026 (%)
• Exhibit 65: Data Table on South America - Year-over-year growth 2021-2026 (%)

• 7.7 Middle East and Africa - Market size and forecast 2021-2026 
• Exhibit 66: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
• Exhibit 67: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
• Exhibit 68: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
• Exhibit 69: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)

• 7.8 US - Market size and forecast 2021-2026 
• Exhibit 70: Chart on US - Market size and forecast 2021-2026 ($ million)
• Exhibit 71: Data Table on US - Market size and forecast 2021-2026 ($ million)
• Exhibit 72: Chart on US - Year-over-year growth 2021-2026 (%)
• Exhibit 73: Data Table on US - Year-over-year growth 2021-2026 (%)

• 7.9 China - Market size and forecast 2021-2026 
• Exhibit 74: Chart on China - Market size and forecast 2021-2026 ($ million)
• Exhibit 75: Data Table on China - Market size and forecast 2021-2026 ($ million)
• Exhibit 76: Chart on China - Year-over-year growth 2021-2026 (%)
• Exhibit 77: Data Table on China - Year-over-year growth 2021-2026 (%)

• 7.10 Germany - Market size and forecast 2021-2026 
• Exhibit 78: Chart on Germany - Market size and forecast 2021-2026 ($ million)
• Exhibit 79: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
• Exhibit 80: Chart on Germany - Year-over-year growth 2021-2026 (%)
• Exhibit 81: Data Table on Germany - Year-over-year growth 2021-2026 (%)

• 7.11 France - Market size and forecast 2021-2026 
• Exhibit 82: Chart on France - Market size and forecast 2021-2026 ($ million)
• Exhibit 83: Data Table on France - Market size and forecast 2021-2026 ($ million)
• Exhibit 84: Chart on France - Year-over-year growth 2021-2026 (%)
• Exhibit 85: Data Table on France - Year-over-year growth 2021-2026 (%)

• 7.12 Japan - Market size and forecast 2021-2026 
• Exhibit 86: Chart on Japan - Market size and forecast 2021-2026 ($ million)
• Exhibit 87: Data Table on Japan - Market size and forecast 2021-2026 ($ million)
• Exhibit 88: Chart on Japan - Year-over-year growth 2021-2026 (%)
• Exhibit 89: Data Table on Japan - Year-over-year growth 2021-2026 (%)

• 7.13 Market opportunity by geography 
• Exhibit 90: Market opportunity by geography ($ million)

8 Drivers, Challenges, and Trends

• 8.1 Market drivers

• 8.2 Market challenges

• 8.3 Impact of drivers and challenges 
• Exhibit 91: Impact of drivers and challenges in 2021 and 2026

• 8.4 Market trends

9 Vendor Landscape

• 9.1 Overview

• 9.2 Vendor landscape
• Exhibit 92: Overview on Criticality of inputs and Factors of differentiation

• 9.3 Landscape disruption
• Exhibit 93: Overview on factors of disruption

• 9.4 Industry risks
• Exhibit 94: Impact of key risks on business

10 Vendor Analysis

• 10.1 Vendors covered
• Exhibit 95: Vendors covered

• 10.2 Market positioning of vendors 
• Exhibit 96: Matrix on vendor position and classification

• 10.3 Anderson Guitarworks
• Exhibit 97: Anderson Guitarworks - Overview
• Exhibit 98: Anderson Guitarworks - Product / Service
• Exhibit 99: Anderson Guitarworks - Key offerings

• 10.4 C. F. Martin and Co. Inc. 
• Exhibit 100: C. F. Martin and Co. Inc. - Overview
• Exhibit 101: C. F. Martin and Co. Inc. - Product / Service
• Exhibit 102: C. F. Martin and Co. Inc. - Key news
• Exhibit 103: C. F. Martin and Co. Inc. - Key offerings

• 10.5 CASIO Computer Co. Ltd. 
• Exhibit 104: CASIO Computer Co. Ltd. - Overview
• Exhibit 105: CASIO Computer Co. Ltd. - Business segments
• Exhibit 106: CASIO Computer Co. Ltd. - Key offerings
• Exhibit 107: CASIO Computer Co. Ltd. - Segment focus

• 10.6 Fender Musical Instruments Corp. 
• Exhibit 108: Fender Musical Instruments Corp. - Overview
• Exhibit 109: Fender Musical Instruments Corp. - Product / Service
• Exhibit 110: Fender Musical Instruments Corp. - Key news
• Exhibit 111: Fender Musical Instruments Corp. - Key offerings

• 10.7 Focusrite Plc
• Exhibit 112: Focusrite Plc - Overview
• Exhibit 113: Focusrite Plc - Business segments
• Exhibit 114: Focusrite Plc - Key offerings
• Exhibit 115: Focusrite Plc - Segment focus

• 10.8 Gibson Brands Inc.
• Exhibit 116: Gibson Brands Inc. - Overview
• Exhibit 117: Gibson Brands Inc. - Product / Service
• Exhibit 118: Gibson Brands Inc. - Key news
• Exhibit 119: Gibson Brands Inc. - Key offerings

• 10.9 inMusic Brands Inc.
• Exhibit 120: inMusic Brands Inc. - Overview
• Exhibit 121: inMusic Brands Inc. - Product / Service
• Exhibit 122: inMusic Brands Inc. - Key offerings

• 10.10 Kawai Musical Instruments Mfg. Co. Ltd. 
• Exhibit 123: Kawai Musical Instruments Mfg. Co. Ltd. - Overview
• Exhibit 124: Kawai Musical Instruments Mfg. Co. Ltd. - Product / Service
• Exhibit 125: Kawai Musical Instruments Mfg. Co. Ltd. - Key offerings

• 10.11 KORG Inc.
• Exhibit 126: KORG Inc. - Overview
• Exhibit 127: KORG Inc. - Product / Service
• Exhibit 128: KORG Inc. - Key offerings

• 10.12 Marshall Morrison Instruments Pty. Ltd. 
• Exhibit 129: Marshall Morrison Instruments Pty. Ltd. - Overview
• Exhibit 130: Marshall Morrison Instruments Pty. Ltd. - Product / Service
• Exhibit 131: Marshall Morrison Instruments Pty. Ltd. - Key offerings

11 Appendix

• 11.1 Scope of the report

• 11.2 Inclusions and exclusions checklist 
• Exhibit 132: Inclusions checklist
• Exhibit 133: Exclusions checklist

• 11.3 Currency conversion rates for US$ 
• Exhibit 134: Currency conversion rates for US$

• 11.4 Research methodology
• Exhibit 135: Research methodology
• Exhibit 136: Validation techniques employed for market sizing
• Exhibit 137: Information sources

• 11.5 List of abbreviations 
• Exhibit 138: List of abbreviations 

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