Global Percussion Instrument Market 2016-2020

Market outlook of percussion instrument market

Technavio’s market research analyst predicts that the global percussion instrument market will grow at a CAGR of less than 1% during the forecast period. On account of market saturation, major percussion brands are shifting their focus from the developed markets to the emerging markets. The extent of market saturation is evident from the level of market penetration of percussion instruments, which is above 85% in the US and above 60% in the UK. This is translating into low demand for these instruments in these markets.

Growing popularity of mobile music applications and low replacement cycles are the major challenges in this market. Technological innovations have led to the development of several apps that allow users to play musical instruments virtually on personal electronic devices, such as smartphones and tablets. These apps do not incur any expense to the user and are accessible anywhere (as these are installed on mobile devices). They also provide operational guidance to end users. Resultantly, these apps are gaining high popularity and acceptance worldwide.

Geographical segmentation and analysis of the percussion instrument market

• Americas
• APAC
• EMEA