Market outlook of the global digital keyboard market
Technavios market research analyst estimates the global digital keyboards market to grow moderately at a CAGR of approximately 3% during the forecast period. The high flexibility offered by the digital keyboards is the primary growth driver for this market. Digital keyboards are capable of producing different types of sound and are equipped with various types of pre-loaded sounds, music, genre, and effects that help users while playing music.
The growing number of live performances and concerts is expected to drive market growth during the forecast period. The growing interest, passion, and love for music among the populace are expected to lead to the formation of a wide variety of musical bands, which is resulting in an increased number of concerts and live performances worldwide. Since many people attend such performances, the revenue generated by the artists and event organizers is high. This increase in the amount of revenue generated is envisaged to bolster growth in the digital keyboard market during the forecast period.
Geographical segmentation and analysis of the digital keyboard market
In this market study, analysts have envisaged the APAC region to account for a market share of more than 41% by 2020. The populaces increase in disposable income is a major factor that augments the adoption of digital keyboards in this region during the forecast period.
Competitive landscape and key vendors
The global digital keyboard market is highly competitive because of the presence of numerous large and small vendors. Intense competition, rapid advances in technology, and frequent changes in consumer preferences are the primary risk factors for the players in this market. In this market, vendors compete on the basis of product differentiation, portfolio, and pricing to gain maximum market prominence during the forecast period.
The top vendors in the market are-
Kurzweil Music Systems
The other prominent vendors of the market include Hammond Organ, Hamzer, Nord Keyboards, Orla Direct, and Technics Keyboards.
Key questions answered in the report
What will the market size and the growth rate be in 2020?
What are the key factors driving the digital keyboard market?
What are the key market trends impacting the growth of the global digital keyboard market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the vendors in the global digital keyboard market?
Trending factors influencing the market shares of the Americas, APAC, and MEA?
What are the key outcomes of the five forces analysis of the digital keyboard market?
Technavio also offers customization on reports based on specific client requirement.
Global Musical Instruments Market 2015-2019
Global Digital Music Market 2015-2019