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The music production equipment market share 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%.
This music production equipment market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers music production equipment 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 music production equipment market report also offers information on several market vendors, including Ableton AG, Audio Technica US Inc., Avid Technology Inc., Blackstar Amplification Ltd., C. F. Martin and Co. Inc., D Addario and Co. Inc., Fender Musical Instruments Corp., Gibson Brands Inc., Headstock Distribution Ltd, Kawai Musical Instruments Mfg. Co. Ltd., KORG Inc., KROTOS Ltd., Marshall Amplification, QRS Music Technologies Inc., Roland Corp., Samsung Electronics Co. Ltd., Sennheiser Electronic GmbH and Co. KG, Shure Inc., Sony Group Corp, Steinway Musical Instruments, Teufel, and Yamaha Corp. among others.
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The rising number of musicians and artists is notably driving the music production equipment market growth, although factors such as the easy availability of counterfeit products may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the music production equipment industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Music Production Equipment Market Driver
One of the key factors driving growth in the music production equipment market is the rising number of musicians and artists. The emergence of upcoming musicians and artists has changed the era of music. They are creating and introducing new songs and mixing songs to produce remix tracks. To grab the attention of fans, musicians are also organizing music events through concert promoters or live event organizers. For instance, in September 2021, it was announced that Amazon would invest in live audio features, starting with concerts and later expanding into talk shows and podcasts. Live musical events are becoming a major source of revenue for musicians and artists, which is encouraging them to introduce new genres of music such as jazz, rock, blues, hip hop, disco, and trance. Hence, the rising number of live events is expected to accelerate the demand for music production equipment, which, in turn, will drive the growth of the market.
Key Music Production Equipment Market Trend
The rising number of music festivals and live events is a music production equipment market trend that is expected to have a positive impact in the coming years. In the last few years, there has been growth in the popularity of music festivals, concerts, and entertainment events, especially among millennials globally. The large base of the young population, coupled with a surge in disposable income, has led more people to spend on such live events. Hence, the increasing number of live performances and concerts by musicians, artists, dancers, and comedians will play a major role in driving the growth of the global music production equipment market during the forecast period. Some popular music festivals that are organized in the US and the UK are Field Day, Glastonbury, Burning Man, and Coachella. The growth of the music industry is anticipated to drive the demand for technologically advanced music production equipment, which, in turn, will enhance the growth of the global music production equipment market.
Key Music Production Equipment Market Challenge
The easy availability of counterfeit products will be a major challenge for the music production equipment market during the forecast period. Many unauthorized dealers market sell fake or impersonated products of reputed brands, such as Sony Group Corporation (Sony), Harman International Industries, Inc. (JBL), and Samsung Electronics Co., Ltd (SAMSUNG). Several vendors offer tutorials and provide blog posts to identify fake products that are easily available in the market. In March 2022, US Border Patrol agents stated that they seized 6000 counterfeit entertainment systems as the items were crossing into the US at the International Falls Port of Entry. Counterfeiting adversely affects the original ideas and the ability of vendors to generate profits from their licensed products. Thus, the ease of availability of counterfeit music production equipment will negatively impact the global music production equipment market.
This music production equipment market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global music production equipment market as a part of the global leisure products market within the global household durables market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the music production equipment market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the music production equipment market encompasses successful business strategies deployed by the key vendors. The music production equipment market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
audio-technica.com - The company offers Music Production Equipment such as headphones, both wireless and wired.
audio-technica.com - Under this segment, the company offers products such as headphones, turntables, cartridges, microphones, and wireless products.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The music production equipment market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the music production equipment market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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41% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for music production equipment in APAC. Market growth in this region will be faster than the growth of the market in other regions.
The rising adoption of music production equipment by developing countries, such as India, China, Indonesia, and Thailand, owing to the increasing disposable income, rapid urbanization, and improvements in living standards will facilitate the music production equipment market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
In 2020, the outbreak of COVID-19 resulted in the imposition of complete nationwide lockdowns in the region. Several countries, such as China, India, Nepal, Pakistan, South Korea, Malaysia, Sri Lanka, and the Philippines, were under partial or full lockdowns to contain the spread of the disease. However, the market has started to regain momentum from 2021 onward with the availability of COVID-19 vaccines in the region. The region also witnessed an increasing demand for music production equipment in 2021. Thus, the increasing number of live performances and concerts by globally recognized artists and musicians across various economies in the region, such as India, Australia, and South Korea, is anticipated to complement the growth of the music production equipment market in APAC during the forecast period.
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The music production equipment market share growth in the public address equipment segment will be significant during the forecast period. The public address equipment segment of the global music production equipment market is expected to witness significant growth in terms of market revenue when compared with others, including digital keyboards, studio headphones, DJ gear, and music synthesizers during the forecast period. This is due to the rising number of live public events and public congregations, which is propelling the demand for public address equipment globally.
This report provides an accurate prediction of the contribution of all the segments to the growth of the music production equipment market size and actionable market insights on the post-COVID-19 impact on each segment.
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Music Production Equipment Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 2.44% |
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Market growth 2022-2026 |
$1.27 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
1.61 |
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Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 41% |
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Key consumer countries |
US, Canada, China, Japan, Germany, and UK |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Ableton AG, Audio Technica US Inc., Avid Technology Inc., Blackstar Amplification Ltd., C. F. Martin and Co. Inc., D Addario and Co. Inc., Fender Musical Instruments Corp., Gibson Brands Inc., Headstock Distribution Ltd, Kawai Musical Instruments Mfg. Co. Ltd., KORG Inc., KROTOS Ltd., Marshall Amplification, QRS Music Technologies Inc., Roland Corp., Samsung Electronics Co. Ltd., Sennheiser Electronic GmbH and Co. KG, Shure Inc., Sony Group Corp, Steinway Musical Instruments, Teufel, and Yamaha Corp. |
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Market dynamics |
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, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Type
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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