
Turntable Market Share Emerging Growth, Share, Growth, Insights, Industry Analysis, Trends and Forecasts Report 2028
Rising popularity of in-house DJ, increasing demand for rental turntables, and growing preference for vinyl records and live shows
VANCOUVER, BC, CANADA, March 25, 2022 /EINPresswire.com/ -- 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.
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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.
Increasing preference for electronic dance music (EDM), promotional events for music, and growing number of events for independent record stores amid increasing popularity of vinyl records are some other key factors contributing to revenue growth of the market going ahead. However, high costs associated with turntables and maintenance of equipment are some key factors expected to hamper market growth over the forecast period.
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The report further sheds light on the emerging growth opportunities, challenges, market threats, limitations, and factors likely to restrict the growth of the Turntable market. The report further discusses in detail the market in international waters and the emerging trends in those regions. It also offers insights into the competitive landscape, market drivers, industrial scenario, and the latest product and technological developments to offer a comprehensive overview of the Turntable market landscape.
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.
On the basis of regional analysis, the market is segmented into the following regions: North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The market is expected to be dominated by North American nations closely followed by European countries. Asia Pacific is expected to show a significant growth owing to recent advancements and rising investments in the R&D sector.
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
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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.
The report addresses the following key points:
The report estimates the expected market size from 2021-2028
The report provides a forecast of market drivers, restraints, and future opportunities for the Turntable market
The report further analyses the changing market dynamics
Regional analysis and segmentation of the market with analysis of the regions and segments expected to dominate the market growth
Extensive competitive landscape mapping with profiles of the key competitors
In-depth analysis of business strategies and collaborations such as mergers and acquisitions adopted by the key companies
Revenue forecast, country scope, application insights, and product insights
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