LONDON--(EON: Enhanced Online News)--Technavio has announced the top five leading vendors in their recent global guitar market report until 2021. This research report also lists 14 other prominent vendors that are expected to impact the market during the forecast period.
“The global guitar market is projected to grow to USD 4.14 billion by 2021, at a CAGR of more than 2% over the forecast period. The increasing interest of individuals in pursuing music related leisure activities is acting as a key driving factor impacting the market growth”
The research study by Technavio on the global guitar market for 2017-2021 provides detailed industry analysis based on type (acoustic guitars and electric guitars) and geography (the Americas, EMEA, and APAC).
“The global guitar market is projected to grow to USD 4.14 billion by 2021, at a CAGR of more than 2% over the forecast period. The increasing interest of individuals in pursuing music related leisure activities is acting as a key driving factor impacting the market growth,” says Ujjwal Doshi, a lead analyst at Technavio for media and entertainment services research.
Competitive vendor landscape
The global guitar market is characterized by intense competition, consumer spending patterns, demographic trends, and frequent changes in consumer preferences are significant risks for vendors. Vendors in the market compete based on product features, types, pricing, aesthetics, design, and quality. This competition is expected to intensify during the forecast period with an increase in product extensions. Vendors are investing increasingly towards designing, planning, developing, branding, expanding existing products and services, and acquiring new players in the market to establish a strong market foothold.
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Top five vendors in the global guitar market
Fender Musical Instruments
Fender Musical Instruments manufactures and markets string instruments and related equipment and accessories. They offer guitars, amplifiers, audio parts, and accessories. The company runs a custom shop where craftsmen make new customized guitars or modify the existing guitars based on customers' requirements.
Gibson Brands manufactures musical instruments and offers products through its stores, dealers, online dealers, and distributors. The company offers electric guitars, acoustic instruments, pro audio, gear and accessories, and memory cables.
Karl Höfner manufactures musical guitars; basses; other string instruments like cellos, violas, violins, and double basses; and bows for stringed instruments. They produce a wide range of classical, acoustic guitars, and electric guitars. Its electric guitar portfolio includes Archtop Guitars, Verythin Guitars, Verythin Limited Editions, and Solid Body Guitars models.
PRS Guitars manufactures a wide range of guitars, amplifiers, and other instruments. The company is a reputed manufacturer of high-end electric guitars in the US. The company has production units in Asia, where it manufactures the SE line of instruments.
Yamaha manufactures automobiles, musical instruments, and electronics. It operates through segments such as musical instruments, audio equipment, and electronic devices. The company has 44 subsidiaries and seven affiliated companies.
Browse Related Reports:
- Global Music Market 2017-2021
- Global Music Instruments Market 2016-2020
- Global Music Synthesizers Market 2016-2020
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Technavio is leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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