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Market Size – USD 361.6 Million in 2020, Market Growth – at a CAGR of 4.4%, Market Trends – Increasing trend of DJ and emergence of numerous new players

VANCOUVER, BC, CANADA, February 6, 2023 /EINPresswire.com/ -- The global turntable market size reached USD 361.6 Million in 2020 and is expected to register a CAGR of 4.4% during the forecast period. The trend and popularity of having a DJ in the house playing live music is expected to continue to drive global turntable market revenue growth. Electronic Dance Music (EDM) has been around for a while, but has been gaining traction among a steadily and massively increasing fan base. In addition, the trend has been gaining traction among an increasing number of newer individuals and DJs, and many among these are in their teens. Ability to purchase turntables is based on capacity to spend and a number of DJs prefer to rent equipment for shows, either live shows, recordings for events, or for music vlogs. Turntables have also evolved considerably since the advent of the record player. Availability of high-quality beats and samples and rising fan following of EDM genre among young musicians are other factors supporting market growth. Various unknown musicians have risen and launched their careers in this genre. This clearly indicates that EDM is no longer considered underground or a fad, but has entered the mainstream, which is expected to continue to increase demand for turntables.

The latest market intelligence study, called “Global Turntable Market Forecast to 2028,” jots down some of the most prominent growth potentials of the global Turntable market. The report is primarily targeted at the industry stakeholders looking to capitalize on this report’s contents to make improved business decisions. The report is further intended to help the readers gain vital insights into the global market, particularly the prevailing growth opportunities and competitive scenario. The insightful data & information provided by this report are gathered from various primary and secondary sources.

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Some Key Highlights in the Report:

DJ segment revenue is expected to expand at a significant revenue CAGR over the forecast period attributed to rising popularity of DJ music across the globe, increasing demand for turntables from new and emerging DJs, and growing trend of in-house DJ and live music shows.

Moving magnet segment accounted for largest revenue share in the global market in 2020 and is expected to register significant revenue growth over the forecast period. Moving magnet design is durable, is equipped with a user-replaceable stylus, and delivers moderate to high output level which have increased their adoption in home stereo systems and is expected to contribute to revenue growth of the segment going ahead.

Music composition segment is expected to register considerable revenue growth over the forecast period owing to increasing use of turntables for hip-hop, classical, or EDM music composition.

North America is expected to dominate other regions in terms of revenue over the forecast period attributed to rising popularity and trend of DJ music, presence of large number of music clubs and bars, and increasing number of live shows, music concerts, and music shows in the region.

The leading contenders in the global Turntable market are listed below:

Sound United, LLC, inMusic Inc., Clear Audio Electronic GmbH, Panasonic Corporation, Thorens, Pro-Ject Audio Systems, Audio-Technica Corporation, TEAC Corporation, Sony Group Corporation, Crosley Radio

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For the purpose of this report, Emergen Research has segmented the global turntable market on the basis of type, cartridges, application, and region:

Type Outlook (Revenue, USD Million; 2018–2028)
Belt Drive

Direct Drive

Idler Wheel

DJ

Cartridges Outlook (Revenue, USD Million; 2018–2028)
Moving Magnet

Moving Coil

Application Outlook (Revenue, USD Million; 2018–2028)
Residential 

Music Composition

Music Clubs and Bars

Concerts

Others

Regional Outlook of the Turntable Market

The global Turntable market has been categorized into several important geographical regions, including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In this section, authors of the report have studied the presence of the global Turntable market across major geographies. Moreover, the estimated market share, market size, revenue contribution, sales network and distribution channel, and other crucial elements of each regional segment have been detailed in the report.

Browse The Full Turntable Market Report Description, Along With The Tocs And List Of Facts And Figures @ https://www.emergenresearch.com/industry-report/turntable-market

Key reasons to buy the Global Turntable Market report:

The latest report comprehensively studies the global Turntable market size and provides useful inference on numerous aspects of the market, such as the current business trends, market share, product offerings, and product share.

The report offers an insightful analysis of the regional outlook of the market.

It offers a detailed account of the end-use applications of the products & services offered by this industry.

The report holistically covers the latest developments taking place in this industry. Therefore, it lists the most effective business strategies implemented by the market rivals for ideal business expansion.

The report also provides an extensive analysis of the key market elements, such as drivers, constraints, opportunities, limitations, threats, and micro and macro-economic factors. The exhaustive SWOT analysis, Porter’s Five Forces analysis, feasibility analysis, and investment return analysis included in the report are intended to help the reader tactfully formulate business growth strategies. Strategic recommendations for the established market players assist them in fortifying their financial positions in the market. 

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Turntable Market Size to Reach USD 508.3 Million in 2028

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