Turntable Market Technology, Product Scope, Demand, Business Scenario, Trends, Share, Applications, Types and Forecasts 2021 – 2028
The global turntable market size is expected to reach USD 508.3 million in 2028 at a CAGR of 4.4% during the forecast period, according to the latest report by Emergen Research. Increasing popularity of in-house DJ and EDM, growing number of DJs preferring to rent music equipment, and increasing trend of vinyl records to boost aesthetic appeal are key factors expected to drive market revenue growth over the forecast period. The advent of vintage turntables and reemergence of trend of vinyl records has further boosted demand for turntables and is expected to further boost revenue growth of the market going ahead.
Turntable is a circular rotating platform of a
phonograph such as record player and gramophone, among others. It is a device
specifically used for playing sound recording and nowadays versatile and modern
devices in cost-effective prices. Modern turntables are equipped with advanced
features such as Bluetooth connectivity and USB ports that enable seamless
recording of vinyl to the computer. Turntables have been in high demand owing
to increasing trend of hip-hop music and live shows. Rising level of disposable
income has further contributed to the growing number of DJs and new individuals
who have forayed into the music stream. Turntables also generate high-quality
sounds and provides a cultural quality.
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The report further sheds light on the
competitive landscape of the turntable market to offer the readers an advantage
over others. The competitive landscape section of the report talks about the
recent advancements in the R&D and technologies undertaken by the prominent
players, along with their strategic business expansion plans, product launches,
and brand promotions. The report pays special attention to the strategic
alliances such as mergers and acquisitions, joint ventures, collaborations,
agreements, corporate and government deals, and others adopted by the prominent
players of the industry to expand their market presence and gain a substantial
market position.
Key players in the
market include Sound United,
LLC, inMusic, Inc., Clear Audio Electronic GmBH, Panasonic Corporation,
Thorens, Pro-Ject Audio Systems, Audio-Technica Corporation, TEAC Corporation,
Sony Group Corporation, and Crosley Radio.
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Key Findings from 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.
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The report further covers comprehensive SWOT
analysis and Porter’s Five Forces analysis to offer a complete understanding of
the competitive landscape and scenario of each market player. The report also
provides an in-depth analysis of the applications and product types offered in
the market.
Emergen Research has segmented the global
turntable market on the basis of type, cartridges, application, and region:
Type Outlook (Revenue, USD Million;
2018-2028)
Belt drive
Direct Drive
Idler Wheel
DJ
Cartridges Outlook (Revenue, USD
Million; 2018-2028)
Moving Magnet
Moving Coil
Application Outlook (Revenue, USD
Million; 2018-2028)
Residential
Music Composition
Music Clubs & Bars
Concerts
Others
Regional Analysis:
Regional analysis includes an in-depth study
of the key geographical regions to gain a better understanding of the market
and provide an accurate analysis. The regional analysis covers North America, Latin America, Europe, Asia
Pacific, and Middle East & Africa. The regional analysis covers the
analysis of key market segments, including revenue, CAGR, import/export, supply
and demand ratio, production and consumption ratio, industrial chain analysis,
and market dynamics in each region of the geographies.
Key Questions Answered in the Report:
What will be the estimated growth rate of the turntable
market by 2028?
Who are the prominent distributors, vendors,
and manufacturers of the market?
What are the driving and restraining factors
of the growth of the turntable market throughout the forecast period?
What are the current and future market trends
of the turntable market?
What are the sales and price analysis of the
product by types, applications, and regions?
What are the expected opportunities for the
companies and new entrants in the coming years?
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