Market Overview:
The global smart musical instruments market is expected to grow at a CAGR of 10.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for connected instruments and wearables, and the growing popularity of music education and training. In terms of type, the connected instruments segment is expected to lead the global smart musical instruments market during the forecast period, followed by wearables. The professional performance application segment is expected to account for a major share of the global smart musical instruments market during 2018-2030.
Product Definition:
Smart Musical Instruments are instruments that can be controlled wirelessly with a computer or mobile device. They can be used to create and control music in ways that were not possible before. The importance of Smart Musical Instruments is that they allow people to create and control music in new and innovative ways.
Connected Instruments:
Connected instruments are musical instruments that can be connected to the internet and allow users to access a variety of functions such as recording, streaming audio, e-learning and more through smart devices. Connected musical instruments have witnessed significant growth in recent years owing to the rapid penetration of smart devices coupled with an increase in awareness regarding music education across developing countries.
Wearables:
Wearable is an electronic device that is directly attached to the body or worn on the body for improving or monitoring human performance. Technological advancements and increasing adoption of smart devices are expected to drive market growth over the forecast period. The introduction of innovative products such as fitness bands, smartwatches, and other health & wellness devices have led to increased demand for these products across all age groups.
Application Insights:
The professional performance application segment dominated the global smart musical instruments market in 2017. Instruments such as guitars, keyboards, and drums are connected devices that can be controlled remotely. These devices have a built-in music library with songs from various genres and artists which makes them ideal for live performances by bands or soloists. Furthermore, these devices have an integrated sound system which enables high-quality audio output for audiences at large venues. The individual amateur application segment is expected to witness significant growth over the forecast period owing to rising adoption of smart wearables such as fitness trackers and heart rate monitors among other health & wellness products.
Instruments used in this category include keyboards, microphones, drums pads/sticks/mallets etc.
Regional Analysis:
North America dominated the global market in terms of revenue share in 2017. The region is expected to maintain its dominance over the forecast period owing to increasing investments by industry players and technological advancements. For instance, In January 2018, Korg Inc. launched a new app called iMS-20 that allows users to create music using nothing but their smartphones and smart wearables such as smart watches and fitness bands.
Asia Pacific is anticipated to witness significant growth over the forecast period owing to rising demand from developing countries such as India, China, Japan etcetera).
Growth Factors:
- Increasing demand for personalized and customized musical instruments
- Rising disposable income of the population, especially in developed countries
- Proliferation of music education programs globally
- Technological advancements in the field of smart musical instruments
- Growing popularity of music as a form of leisure and relaxation
Scope Of The Report
Report Attributes
Report Details
Report Title
Smart Musical Instruments Market Research Report
By Type
Connected Instruments, Wearables
By Application
Professional Performance, Learning and Training, Individual Amateurs
By Companies
Kawai Musical Instruments, Kurv Music, Phonotonic, Yamaha Corporation, Zivix, CASIO ELECTRONICS, McCarthy Music, Kickstarter, Artiphon, Modern Ancient Instruments Networked AB, Gibson Brands Inc., Fender Musical Instruments Corporation
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
246
Number of Tables & Figures
173
Customization Available
Yes, the report can be customized as per your need.
Global Smart Musical Instruments Market Report Segments:
The global Smart Musical Instruments market is segmented on the basis of:
Types
Connected Instruments, Wearables
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Professional Performance, Learning and Training, Individual Amateurs
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Kawai Musical Instruments
- Kurv Music
- Phonotonic
- Yamaha Corporation
- Zivix
- CASIO ELECTRONICS
- McCarthy Music
- Kickstarter
- Artiphon
- Modern Ancient Instruments Networked AB
- Gibson Brands Inc.
- Fender Musical Instruments Corporation
Highlights of The Smart Musical Instruments Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Connected Instruments
- Wearables
- By Application:
- Professional Performance
- Learning and Training
- Individual Amateurs
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Smart Musical Instruments Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Smart Musical Instruments is a term used to describe instruments that are able to interact with other devices and software in order to create music. These instruments may include digital pianos, synthesizers, drum machines, and more.
Some of the key players operating in the smart musical instruments market are Kawai Musical Instruments, Kurv Music, Phonotonic, Yamaha Corporation, Zivix, CASIO ELECTRONICS, McCarthy Music, Kickstarter, Artiphon, Modern Ancient Instruments Networked AB, Gibson Brands Inc., Fender Musical Instruments Corporation.
The smart musical instruments market is expected to register a CAGR of 10.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Smart Musical Instruments Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Smart Musical Instruments Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Smart Musical Instruments Market - Supply Chain
4.5. Global Smart Musical Instruments Market Forecast
4.5.1. Smart Musical Instruments Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Smart Musical Instruments Market Size (000 Units) and Y-o-Y Growth
4.5.3. Smart Musical Instruments Market Absolute $ Opportunity
5. Global Smart Musical Instruments Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Smart Musical Instruments Market Size and Volume Forecast by Type
5.3.1. Connected Instruments
5.3.2. Wearables
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Smart Musical Instruments Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Smart Musical Instruments Market Size and Volume Forecast by Application
6.3.1. Professional Performance
6.3.2. Learning and Training
6.3.3. Individual Amateurs
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Smart Musical Instruments Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Smart Musical Instruments Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Smart Musical Instruments Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Smart Musical Instruments Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Smart Musical Instruments Demand Share Forecast, 2019-2026
9. North America Smart Musical Instruments Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Smart Musical Instruments Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Smart Musical Instruments Market Size and Volume Forecast by Application
9.4.1. Professional Performance
9.4.2. Learning and Training
9.4.3. Individual Amateurs
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Smart Musical Instruments Market Size and Volume Forecast by Type
9.7.1. Connected Instruments
9.7.2. Wearables
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Smart Musical Instruments Demand Share Forecast, 2019-2026
10. Latin America Smart Musical Instruments Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Smart Musical Instruments Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Smart Musical Instruments Market Size and Volume Forecast by Application
10.4.1. Professional Performance
10.4.2. Learning and Training
10.4.3. Individual Amateurs
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Smart Musical Instruments Market Size and Volume Forecast by Type
10.7.1. Connected Instruments
10.7.2. Wearables
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Smart Musical Instruments Demand Share Forecast, 2019-2026
11. Europe Smart Musical Instruments Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Smart Musical Instruments Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Smart Musical Instruments Market Size and Volume Forecast by Application
11.4.1. Professional Performance
11.4.2. Learning and Training
11.4.3. Individual Amateurs
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Smart Musical Instruments Market Size and Volume Forecast by Type
11.7.1. Connected Instruments
11.7.2. Wearables
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Groth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Smart Musical Instruments Demand Share, 2019-2026
12. Asia Pacific Smart Musical Instruments Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Smart Musical Instruments Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Smart Musical Instruments Market Size and Volume Forecast by Application
12.4.1. Professional Performance
12.4.2. Learning and Training
12.4.3. Individual Amateurs
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Smart Musical Instruments Market Size and Volume Forecast by Type
12.7.1. Connected Instruments
12.7.2. Wearables
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Smart Musical Instruments Demand Share, 2019-2026
13. Middle East & Africa Smart Musical Instruments Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Smart Musical Instruments Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Smart Musical Instruments Market Size and Volume Forecast by Application
13.4.1. Professional Performance
13.4.2. Learning and Training
13.4.3. Individual Amateurs
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Smart Musical Instruments Market Size and Volume Forecast by Type
13.7.1. Connected Instruments
13.7.2. Wearables
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Smart Musical Instruments Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Smart Musical Instruments Market: Market Share Analysis
14.2. Smart Musical Instruments Distributors and Customers
14.3. Smart Musical Instruments Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Kawai Musical Instruments
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Kurv Music
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Phonotonic
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Yamaha Corporation
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Zivix
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. CASIO ELECTRONICS
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. McCarthy Music
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Kickstarter
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Artiphon
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Modern Ancient Instruments Networked AB
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Gibson Brands Inc.
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Fender Musical Instruments Corporation
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
