Dj Equipment Market Growth To Be Driven By Growing Popularity Of Dj As A Featured Music
Pune, Maharashtra, Jun 19, 2019 (Wired Release) Prudour Pvt. Ltd. – Popularity of DJ as featured music in disco clubs and hardcore live music show has been grown considerably in the last few years. The number of consumers creating a group of the band, with turntables, horns, and bass and DJs playing percussion equipment is increasing as well. These are among the major factors that are propelling the demand for DJ equipment.
The DJ equipment market worldwide is expected to grow at a compound annual growth rate of nearly 7.6% over the next 10 years and was valued at around USD 421.4 Mn in 2018. High cost that is related to the DJ equipment and limited market penetration of modern music instruments among the consumers above the age of 30 are major challenges currently observed in the global DJ equipment market and may hamper profits of the manufacturers to a certain extent. Availability of DJ equipment by local players at a relatively low rate is expected to hamper revenue growth of the manufacturers operating in the global market.
However, increasing focus of manufacturers to make their products visible through E-commerce websites and rising trend of purchasing products online is expected to result into high adoption of DJ equipment for professional, training, or residential use. E-commerce offers various advantages to both sellers and consumers. It gives the consumers a chance to review the equipment, and compare its features with other branded equipment.
Though it creates though competition between the manufacturers to offer the best equipment in comparison to other brands, it also helps them increase their sales, revenue, and expand customer base. Mainly three types of DJ equipment are available in the market currently, including DJ Turntable and CDJs, DJ Mixer, and DJ Controller. CD players are preferred the most due to the replacement of turntable by the CD players and cost-effective feature.
DJ equipment is used in three applications including professional performance, individual amateurs, and others. DJ equipment is mostly used in professional performance. A growing number of concerts and live performances is the main reason why the adoption of DJ equipment is higher as compared to other end users. The rapidly growing film industry and advancements in DJ music and are the factors that are resulting in high demand for this DJ equipment in North America. Moreover, the growing influence of western culture in developing countries in North America, apart from the US and Canada, is driving revenue growth for the companies operating in the target market.
Presence of a large number of major manufacturers operating in economies is increasing in the Asia Pacific region and demographic advantage of a large base of young population that are inclined towards music in countries such as India and China in this region. Adoption of DJ equipment is comparatively less in regions such as Latin America, and the Middle East and Africa, however, it is expected to increase in the years to come. Some of the major players operating and profiled in the global DJ equipment market include Pioneer, Numark, Roland, Behringer, DJ Tech, Hercules, Stanton, Korg, Denon, Reloop, Gemini, and Akai.