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Global Digital Piano Market 2019 by Manufacturers, Regions, Type and Application, Forecast to 2024
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Global Digital Piano Market Is Valued At 912 Million USD In 2017
Digital Piano is a modern electronic musical instrument, a variation of electronic keyboard or synthesizer designed to serve primarily as an alternative to the traditional acoustic piano, both in the way it feels to play and in the sound produced.
In global market, the sales of digital piano increase from 819K Units in 2014 to 1012K Units in 2018, at a CAGR of 5.45%. In 2018, the global digital piano market is led by Asia, capturing about 45% of global digital piano consumption. North America is the second-largest region-wise market with 23.6% global consumption share.
At present, the major manufacturers of digital piano are Yamaha, CASIO, Roland, KAWAI Guangzhou Pearl River Piano Group, etc. Yamaha is the world leader, holding 30% sales market share in 2018.
The global Digital Piano market is valued at 912 million USD in 2017 and is expected to reach 1387 million USD by the end of 2026, growing at a CAGR of 5.83% between 2020 and 2026.
In application, digital piano downstream is wide and recently digital piano has acquired increasing significance in various fields of performance, learning and teaching, entertainment and others. Globally, the digital piano market is mainly driven by growing demand for learning and teaching which accounts for nearly 47% of total downstream consumption of digital piano in global.
In type, digital piano can be divided into grand digital piano, vertical digital piano and portable digital piano. Vertical digital piano holds most of digital piano sales. In 2018, the vertical digital piano Sales was 648K Units and the Market Share (%) was 64%.
With the development of manufacturing technology and music sampling technology, the performance of electronic pianos is gradually approaching acoustic pianos, but due to its excellent expandability and lower price, the market for acoustic pianos is constantly being annexed. In the future, global market is expected to witness steady growth on account of rising applications.
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