Global Turntable Market Forecast to 2028
The global turntable market size reached USD 361.6 Million in 2020 and is expected to register a CAGR of 4.4% during the forecast period. The trend and popularity of having a DJ in the house playing live music are expected to continue to drive global turntable market revenue growth. Electronic Dance Music (EDM) has been around for a while but has been gaining traction among a steadily and massively increasing fan base. In addition, the trend has been gaining traction among an increasing number of newer individuals and DJs, and many of these are in their teens. The ability to purchase turntables is based on capacity to spend, and a number of DJs prefer to rent equipment for shows, either live shows, recordings for events, or music vlogs. Turntables have also evolved considerably since the advent of the record player. The availability of high-quality beats and samples and the rising fan following of the EDM genre among young musicians are other factors supporting market growth. Various unknown musicians have risen and launched their careers in this genre. This clearly indicates that EDM is no longer considered underground or a fad but has entered the mainstream, which is expected to continue to increase demand for turntables.
The market for Turntable is thoroughly examined in the Global Turntable Market Research Report and Forecast to 2028, which also includes market size and share, current and future trends, and the most recent technological developments. The research provides a complete forecast through 2028 as well as insight into the regional and global competitive landscape of the Turntable market. The new study offers up-to-date details on the COVID-19 pandemic's effects on the market for Turntable. It examines how the outbreak changed the political climate and judicial system in each location. Along with providing a present and future, it also examines the economic instability and supply chain disruptions brought on by the disease.
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The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the Turntable market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. The report also discusses the initiatives taken by the key companies to combat the impact of the COVID-19 pandemic.
Key Companies Profiled in the Report are:
Sound United, LLC, inMusic Inc., Clear Audio Electronic GmbH, Panasonic Corporation, Thorens, Pro-Ject Audio Systems, Audio-Technica Corporation, TEAC Corporation, Sony Group Corporation, Crosley Radio
Research Report on the Turntable Market Addresses the Following Key Questions:
Who are the dominant players of the Turntable market?
Which regional market is anticipated to have a high growth rate over the projected period?
What consumer trends and demands are expected to influence the operations of the market players in the Turntable market?
What are the key growth drivers and restraining factors of the Turntable market?
What are the expansion plans and strategic investment plans undertaken by the players to gain a robust footing in the market?
What is the overall impact of the COVID-19 pandemic on the Turntable market and its key segments?
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Some Key Highlights in the Report:
DJ segment revenue is expected to expand at a significant revenue CAGR over the forecast period attributed to rising popularity of DJ music across the globe, increasing demand for turntables from new and emerging DJs, and growing trend of in-house DJ and live music shows.
Moving magnet segment accounted for largest revenue share in the global market in 2020 and is expected to register significant revenue growth over the forecast period. Moving magnet design is durable, is equipped with a user-replaceable stylus, and delivers moderate to high output level which have increased their adoption in home stereo systems and is expected to contribute to revenue growth of the segment going ahead.
Music composition segment is expected to register considerable revenue growth over the forecast period owing to increasing use of turntables for hip-hop, classical, or EDM music composition.
North America is expected to dominate other regions in terms of revenue over the forecast period attributed to rising popularity and trend of DJ music, presence of large number of music clubs and bars, and increasing number of live shows, music concerts, and music shows in the region.
The report bifurcates the Turntable market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.
Segments Covered in this report are:
Type Outlook (Revenue, USD Million; 2018–2028)
Cartridges Outlook (Revenue, USD Million; 2018–2028)
Application Outlook (Revenue, USD Million; 2018–2028)
Music Clubs and Bars
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Regional Landscape section of the Turntable report offers deeper insights into the regulatory framework, current and emerging market trends, production and consumption patterns, supply and demand dynamics, import/export, and presence of major players in each region.
The various regions analyzed in the report include:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
How will this Report Benefit you?
A 250-page report from Emergen Research includes 194 tables and 189 charts and graphics. Anyone in need of commercial, in-depth assessments for the global Turntable market, as well as comprehensive market segment analysis, can benefit from our new study. You can assess the whole regional and global market for Turntable with the aid of our recent study. To increase market share, obtain financial analysis of the whole market and its various segments. We think there are significant prospects in this industry for rapidly expanding energy storage technology. Look at how you may utilise the current and potential revenue-generating prospects in this sector. The research will also assist you in making better strategic decisions, enabling you to build growth strategies, strengthen competitor analysis, and increase business productivity.
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