Worldwide Musical Instruments Industry to 2030 - Increase in Adoption of Advanced Technology Presents Opportunities - ResearchAndMarkets.com
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Wednesday, November 3, 2021
The global musical instruments market size was valued at $9,826.5 million in 2020, and is projected to reach $11,589.8 million by 2030, registering a CAGR of 2.1%.
Key Points:
- The global musical instruments market size was valued at $9,826.5 million in 2020, and is projected to reach $11,589.8 million by 2030, registering a CAGR of 2.1%.
- One of the key factors driving the growth of the musical instrument market is the growing popularity of live musical performances and concerts.
- In recent years, the growth of the musical instruments market has been encouraging and prompting new entrants to establish themselves in niche segments.
- In addition, surge in disposable income and increase in consumer spending ability benefit the global musical instruments industry.