The report forecasts the global music synthesizers market to grow at a CAGR of 2.6% during the period 2016-2020.
Commenting on the report, an analyst from the research team said: A trend which is helping boost market growth is the transition from developed to emerging markets. Major synthesizer brands are shifting their focus to emerging markets as developed markets are nearing saturation. The expansion will help vendors increase their customer base and geographical reach. Developing APAC countries such as India, China, and South Korea are contributing to keep the market afloat.
According to the report, a key growth driver is the increased demand for concerts and live performances. The passion for music among the population has led to an increase in the number of concerts and live performances, globally. In 2014, the live performance segment published music worth $2.74 billion, and it is likely to increase during the forecast period. The rise in number of concerts and live performances is because people want to watch their favourite artists perform. Growing interest in music among the younger generation supports the growth of the market.
What will the market size be in 2020 and what will the growth rate be?
What are the key market trends?
What is driving this 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 key vendors?
What are the strengths and weaknesses of the key vendors?