Music Synthesizers Market by Type (Electric Guitar, Electric Bass, Electric Keyboards, Electric Pianos, DJ Gear), Application (General Retailers, Online), Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2020 to 2027

Newark, NJ, May 16, 2022 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, The Global Music Synthesizers Market is expected to grow from USD 729.78 Million in 2019 to USD 998.29 Million by 2027, at a CAGR of 3.50% during the forecast period 2020-2027. North America held the largest market value of USD 319.79 million in 2019. The US is the major revenue contributor to the market in the region. Many factors contributing to this like the culture for live music shows and concerts, the presence of music streaming service provider and composers.

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Music Synthesizers Market by Type (Electric Guitar, Electric Bass, Electric Keyboards, Electric Pianos, DJ Gear), Application, Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2020 to 2027

The market is fragmented into key players are Casio Computer Co., Ltd., Korg Inc, Focusrite PLC,  and Roland Corporation among others.  In Jan 2019, Korg Inc.  announced an exciting and innovative range of musical products at Winter NAMM 2019. This would definitely increase the customer base of the organization.

The market has been segmented on the basic of type, application and region. Type segment includes electric guitar, electric bass, electric keyboards, electric pianos and DJ gear.  Electric Keyboard segment held largest market value of USD 231.90 million in 2019. Application segment includes general retailers and online. Online segment held the largest market value of USD 460.75 million in 2019.

The increasing trend of learning music in the younger generation is driving this market. Also, the rise in disposable income in developed and developing countries enables the people to pay for music and live performance, this act as one of the major factors boosting the music synthesizers market. The shifting trend of the major synthesizer brands in the direction of the emerging markets are attracting attention of the crowd, this would help vendors to increase their customer base and geographical reach. The market in developed regions has become saturated and so the revenue will come from the penetration in the emerging economies. The advance in technology is also driving the demand for music synthesizers across the globe. Like upcoming music synthesizers market trends which is the emergence of artificial intelligence (AI)-powered music synthesizers will also drive the growth of this global market. The availability of strong and reliable online retailers is also expected to play a crucial role in generating new revenue channels.

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About the report:

The global music synthesizers market is analysed on the basis of value (USD Million). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.

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