Market Analysis And Research Reports: Musical Instruments Market size is anticipated to reach USD 9.4 billion by 2019-2025 - 0 views
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emmaj3206 on 29 Jul 19"The global musical instruments market size is anticipated to reach USD 9.4 billion by 2025, expanding at a CAGR of 3.2% over the forecast period. Increasing awareness related to various types of music, along with high product visibility of electronic music instruments, is expected to drive the market over the forecast period. The string and percussion segment dominated the global market with a share of 79.2% in 2018. High product visibility of guitars, violins, and pianos is a major factor contributing to the growth of this segment. Electric guitars have gained significant popularity among the youth population because they are easy to learn and play. However, digital musical instruments are expected to expand at the fastest CAGR of 4.1% from 2019 to 2025. They are capable of producing studio sound effects with a single instrument that has an electronic circuit embedded inside it. This is expected to drive the music industry, which will fuel the product demand."