Global 88 Keys Keyboard Market was Valued at US$ 4,637.8 Mn in 2018 and is Expected to Reach US$ 7,901.0 Mn by 2027 Growing at a CAGR of 6.3% Over the Forecast Period Owing to Rapid Digitization of Musical Instruments, Says Absolute Markets Insights

Some of the players operating in the global 88 keys keyboard market are Clavia DMI AB, Kawai Musical Instruments Mfg. Co., Ltd., KORG Inc., Roland Corporation, Yamaha Corporation, Casio India Co., Pvt. Ltd., among others

News provided by

Absolute Markets Insights

Feb 17, 2020, 09:00 ET

PUNE, India, Feb. 17, 2020 /PRNewswire/ -- The 88 keys keyboard market is expected to gain a significant lift with the evolution in digitization. Technological innovation has played an important role in surging the demand for musical instruments all over the globe. The growing urbanization has brought changes in the customers' preferences. India and Turkey have rich musical heritage and are witnessing a shift in their musical instruments preferences, from traditional to digitalize. For instance, in November 2019, Casio India Co., Pvt. Ltd has announced the launch of Heritage Casiotone Series as smart keyboards, which offers customers with a digital keyboard that replicates the tones of a variety of instruments. In January, 2017, the company has also introduced an updated Chordana Play app which assists the user in learning the music. New technologies are empowering the music and entertainment industry by offering the customers with customized musical instrument, thereby facilitating efficient user experiences. Furthermore, increase in modernization over traditional has also resulted in the preference shift from classical music to western music. This shift in the customers' preferences is among the key factors anticipated to drive the growth of 88 keys keyboard market over the forecast period.

The use of 88 keys keyboard is constantly increasing, particularly among millennials which are further pushing the keyboard manufacturer to offer advanced musical keyboards. Moreover, companies are offering hybrid and digital pianos. For instance, Kawai, an American musical instrument company, offers hybrid pianos including acoustic hybrids, digital hybrids. Millennium III Hybrid Grand Piano Action offered by Kawai Musical Instruments Mfg. Co., Ltd. replaces traditional felt hammers with a composite equivalents that utilizes high-precision optical sensors that read the subtle movements of each hammer in the creation of various tones. On the other hand, acoustic hybrid pianos comprise of properties of traditional acoustic pianos with digital piano functionality. In addition, Yamaha Corporation offers hybrid pianos that are non-acoustic instruments that replicates real acoustic actions. These specially-designed pianos offer a more responsive playing experience and replicates the touch and feel of an acoustic piano without the cost or maintenance. Thus, the increasing popularity of digital and hybrid pianos among the consumers is anticipated to boost the 88 keys keyboard market growth in the near future.

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The detailed research study provides qualitative and quantitative analysis of the global 88 keys keyboard market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further across all the major countries. The supply side analysis covers the major market players and their regional and global presence and strategies. The geographical analysis emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.

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Key Findings of the Report:

In terms of revenue, the global 88 keys keyboard market is expected to reach US$ 7,901.0 Mn by 2027 owing to progression in music and entertainment industry
On the basis of pricing range, the medium range segment is expected to witness the highest CAGR over the forecast period owing to growth in spending capabilities of the customers
Some of the players operating in the global 88 keys keyboard market are Clavia DMI AB, Kawai Musical Instruments Mfg. Co., Ltd., KORG Inc., Roland Corporation, Yamaha Corporation, Casio India Co., Pvt. Ltd., among others

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Global 88 Keys Keyboard Market:

By Type

Arranger
Workstation
Digital Piano
Synthesizer
Others

By Pricing Range

Low
Medium
High

By Region

North America

U.S.
Canada
Mexico
Rest of North America

Europe

France
The UK
Spain
Germany
Italy
Nordic Countries

Denmark
Finland
Iceland
Sweden
Norway

Benelux Union

Belgium
The Netherlands
Luxembourg

Rest of Europe

Asia Pacific

China
Japan
India
New Zealand
Australia
South Korea
Southeast Asia

Indonesia
Thailand
Malaysia
Singapore
Rest of Southeast Asia

Rest of Asia Pacific

Middle East and Africa

Saudi Arabia
UAE
Egypt
Kuwait
South Africa
Rest of Middle East & Africa

Latin America

Brazil
Argentina
Rest of Latin America

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SOURCE Absolute Markets Insights