Global Electronic Musical Instruments Market Size study, by Product Type (Electronic Guitars, Electronic Keyboards, Digital Pianos, Electronic Drums, Others), by End-User (Professional, Amateur), and Regional Forecasts 2022-2032

Description

The Global Electronic Musical Instruments Market is valued at approximately USD 704.02 Million in 2023 and is projected to grow with a healthy growth rate of 3.7% over the forecast period 2024-2032. The electronic musical instruments industry is undergoing significant transformation, driven by technological innovations and increased accessibility of high-quality, affordable instruments. The democratization of music creation, enabled by computer software and advanced electronic instruments, has fueled creativity in both experimental and traditional music composition. In addition to these advancements, the industry benefits from a growing demand for music education, as younger generations are increasingly drawn to learning and performing music using electronic instruments.

The market is expected to experience growth due to several key factors. The increased interest in live performances, music festivals, and concerts, particularly in urbanized regions, plays a pivotal role in expanding the market. Additionally, rising disposable income levels, coupled with growing consumer demand for music-related leisure activities, are boosting the sales of electronic musical instruments. A notable surge in Western music's influence on emerging markets further supports this growth trajectory. However, challenges such as high replacement costs and competition from virtual music software may slightly temper market expansion.

The key regions considered in the study include Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa. Europe is anticipated to hold the largest market share during the forecast period, representing a dominant market position in the global market. The European region's developed market infrastructure, coupled with its population's propensity to spend on entertainment services, music festivals, and concerts, positions it as a leader in this industry. North America also holds fastest share, with rapid technological advancements and innovation fostering market growth. The region is expected to capture a market share by 2032.

Major market players included in this report are:

Gibson Brands, Inc.
Fender Musical Instruments Corporation
Kawai Musical Instruments Manufacturing Co. Ltd.
inMusic, Inc.
Pioneer Corporation
Steinway Musical Instruments Inc.
Yamaha Corporation
Roland Corporation
Audiotonix Limited
Casio Computer Co. Ltd.
Aurzart
NIKKEI Asia
Moog Music Inc.
Korg Inc.
Native Instruments GmbH
Behringer (Music Tribe)
Elektron Music Machines MAV AB
Teenage Engineering

The detailed segments and sub-segments of the market are explained below:

By Product Type:

Electronic Guitars
Electronic Keyboards
Digital Pianos
Electronic Drums
Others

By End-User:

Professional
Amateur

By Region:

North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Middle East & Africa
Saudi Arabia
South Africa
RoMEA

Years considered for the study are as follows:

Historical year - 2022
Base year - 2023
Forecast period - 2024 to 2032

Key Takeaways:

Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and regional level analysis for each market segment.
Detailed analysis of geographical landscape with Country level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand side and supply side analysis of the market.

Chapter 1. Global Electronic Musical Instruments Market Executive Summary

1.1. Global Electronic Musical Instruments Market Size & Forecast (2022-2032)
1.2. Regional Summary
1.3. Segmental Summary
- 1.3.1. By Product Type
- 1.3.2. By End-User
1.4. Key Trends
1.5. Recession Impact
1.6. Analyst Recommendation & Conclusion

Chapter 2. Global Electronic Musical Instruments Market Definition and Research Assumptions

2.1. Research Objective
2.2. Market Definition
2.3. Research Assumptions
- 2.3.1. Inclusion & Exclusion
- 2.3.2. Limitations
- 2.3.3. Supply Side Analysis
  - 2.3.3.1. Availability
  - 2.3.3.2. Infrastructure
  - 2.3.3.3. Regulatory Environment
  - 2.3.3.4. Market Competition
  - 2.3.3.5. Economic Viability (Consumer's Perspective)
- 2.3.4. Demand Side Analysis
  - 2.3.4.1. Regulatory Frameworks
  - 2.3.4.2. Technological Advancements
  - 2.3.4.3. Environmental Considerations
  - 2.3.4.4. Consumer Awareness & Acceptance
2.4. Estimation Methodology
2.5. Years Considered for the Study
2.6. Currency Conversion Rates

Chapter 3. Global Electronic Musical Instruments Market Dynamics

3.1. Market Drivers

3.1.1. Technological Advancements in Musical Instruments
3.1.2. Increasing Popularity of Music Education
3.1.3. Growth in Disposable Income and Live Performances

3.2. Market Challenges
- 3.2.1. High Cost and Lengthy Replacement Cycles
- 3.2.2. Competition from Virtual Instruments and Software
3.3. Market Opportunities
- 3.3.1. Customization and Personalization of Instruments
- 3.3.2. Expansion of Online Sales and E-commerce Channels

Chapter 4. Global Electronic Musical Instruments Market Industry Analysis

4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.1.6. Futuristic Approach to Porter's 5 Force Model
- 4.1.7. Porter's 5 Force Impact Analysis
4.2. PESTEL Analysis
- 4.2.1. Political
- 4.2.2. Economical
- 4.2.3. Social
- 4.2.4. Technological
- 4.2.5. Environmental
- 4.2.6. Legal
4.3. Top Investment Opportunities
4.4. Top Winning Strategies
4.5. Disruptive Trends
4.6. Industry Expert Perspective
4.7. Analyst Recommendation & Conclusion

Chapter 5. Global Electronic Musical Instruments Market Size & Forecasts by Product Type (2022-2032)

5.1. Segment Dashboard
5.2. Global Electronic Musical Instruments Market: Product Type Revenue Trend Analysis, 2022 & 2032 (USD Million)
- 5.2.1. Electronic Guitars
- 5.2.2. Electronic Keyboards
- 5.2.3. Digital Pianos
- 5.2.4. Electronic Drums
- 5.2.5. Others

Chapter 6. Global Electronic Musical Instruments Market Size & Forecasts by End-User (2022-2032)

6.1. Segment Dashboard
6.2. Global Electronic Musical Instruments Market: End-User Revenue Trend Analysis, 2022 & 2032 (USD Million)
- 6.2.1. Professional
- 6.2.2. Amateur

Chapter 7. Global Electronic Musical Instruments Market Size & Forecasts by Region (2022-2032)

7.1. North America Electronic Musical Instruments Market
- 7.1.1. U.S. Electronic Musical Instruments Market
- 7.1.2. Canada Electronic Musical Instruments Market
7.2. Europe Electronic Musical Instruments Market
- 7.2.1. UK Electronic Musical Instruments Market
- 7.2.2. Germany Electronic Musical Instruments Market
- 7.2.3. France Electronic Musical Instruments Market
- 7.2.4. Spain Electronic Musical Instruments Market
- 7.2.5. Italy Electronic Musical Instruments Market
- 7.2.6. Rest of Europe Electronic Musical Instruments Market
7.3. Asia-Pacific Electronic Musical Instruments Market
- 7.3.1. China Electronic Musical Instruments Market
- 7.3.2. India Electronic Musical Instruments Market
- 7.3.3. Japan Electronic Musical Instruments Market
- 7.3.4. Australia Electronic Musical Instruments Market
- 7.3.5. South Korea Electronic Musical Instruments Market
- 7.3.6. Rest of Asia Pacific Electronic Musical Instruments Market
7.4. Latin America Electronic Musical Instruments Market
- 7.4.1. Brazil Electronic Musical Instruments Market
- 7.4.2. Mexico Electronic Musical Instruments Market
- 7.4.3. Rest of Latin America Electronic Musical Instruments Market
7.5. Middle East & Africa Electronic Musical Instruments Market
- 7.5.1. Saudi Arabia Electronic Musical Instruments Market
- 7.5.2. South Africa Electronic Musical Instruments Market
- 7.5.3. Rest of Middle East & Africa Electronic Musical Instruments Market

Chapter 8. Competitive Intelligence

8.1. Key Company SWOT Analysis

8.2. Top Market Strategies
8.3. Company Profiles
- 8.3.1. Gibson Brands, Inc.
- 8.3.2. Fender Musical Instruments Corporation
- 8.3.3. Kawai Musical Instruments Manufacturing Co. Ltd.
- 8.3.4. inMusic, Inc.
- 8.3.5. Pioneer Corporation
- 8.3.6. Steinway Musical Instruments Inc.
- 8.3.7. Yamaha Corporation
- 8.3.8. Roland Corporation
- 8.3.9. Audiotonix Limited
- 8.3.10. Casio Computer Co. Ltd.
- 8.3.11. Aurzart
- 8.3.12. NIKKEI Asia
- 8.3.13. Moog Music Inc.
- 8.3.14. Korg Inc.
- 8.3.15. Native Instruments GmbH

Chapter 9. Research Process

9.1. Research Process

9.1.1. Data Mining
9.1.2. Analysis
9.1.3. Market Estimation
9.1.4. Validation
9.1.5. Publishing

9.2. Research Attributes