Global Digital Piano Market is
expected to grow at a significant CAGR in the upcoming years as the scope and
its applications are increasing across the globe. A modern electronic musical
instrument, a variant of electronic keyboard or synthesizer designed to operate
primarily as an alternate to the traditional acoustic piano is known as a
digital piano. The factors that propel the growth of the Digital Piano Market
include technological innovations, increasing awareness among people, and rise
in disposable income and increase in demand.
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On the other hand, there are
also factors that may hamper the growth of the market such as high cost.
Digital Piano Industry is classified on the basis of product type,
applications, end user, distribution channel and geography. Digital Piano
Industry is segmented by product type as Grand Digital Piano, Vertical Digital
Piano, and Portable Digital Piano. Digital Piano Market is classified on
applications as entertainment, learning and teaching, performance, and others.
Digital Piano Market is categorized by end user as schools, musical
organizations, hotels, and others. Digital Piano Industry is segmented by
distribution channel as online stores, specialty stores and others. Digital
Piano Market is classified on the basis of geography as North America, Latin
America, Western Europe, Eastern Europe, Asia Pacific, Japan and Middle East
and Africa.
The North American region
consists of the U.S., and Canada. Latin America region consists of Mexico and
Brazil. The Western European region consists of Germany, Italy, France, England
and Spain. The Eastern European region consists of Poland and Russia. Asia
Pacific region consists of China, India, ASEAN, and Australia & New
Zealand. The Middle East and African region consists of GCC, South Africa and
North Africa.
By geography, North America is
projected to account a major share of the Digital Piano Market. Some of the key
players that fuel the growth of the Digital Piano Industry include CASIO,
Clavia, Guangzhou Pearl River Piano Group, KORG, KAWAI, Samick, Roland, Ringway
Tech, YOUNG CHANG, Xinghai Piano Group and Yamaha. The key players are focusing
on inorganic growth to sustain themselves amidst fierce competition. As such,
mergers, acquisitions, and joint ventures are the need of the hour.
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