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Report Code: CP10367
Category : Consumer Electronics
The global DJ equipment market, which succumbed during the global economic crisis, has been observed to witness steady growth, in the post-recession period. The music composing industries have broad young consumer base, they are the major buyers of keyboards and music recording gears. However the limited market penetration of modern music instruments among the consumers above the age of 30 is limiting their potential market reach, especially in the developed countries, having high share of baby boomers population.
The growth in the DJ equipment market is mainly led by the high demand of CD players, as a replacement of traditional turntable equipment. The DJ equipment is also penetrating music composition industry, where it is used widely with other automation system, for rich sound experience. Moreover the DJ equipment is among those fewer electronic consumer products, whose retail price has increased in the last few years.
Based on type the DJ equipment market can be categorized, as Trance DJ equipment, house DJ equipment, and Hip-hop DJ. The trance and house DJ equipment can be interfaced with the traditional turntable design, while on the other hand hip-hop DJ equipment cannot be interfaced with the conventional turn table. Trance DJ equipment held the majority of market share in 2014; whereas hip-hop DJ equipment is expected to witness steady growth, over the forecast period.
The expansion of online retail across the value chain of DJ equipment market, along with the growing popularity of DJ as a featured music in Disco clubs, in the developing countries of Asia Pacific is fueling the demand of the DJ equipment market. However, low level of consumer awareness besides speculation about the technical aspect of the DJ equipment among the professional musician, is hindering its wide scale acceptance. The popularity of hardcore live music show has grown considerably in last few years, consumers create a group of band, with turntables, horns, and bass and DJs playing percussion equipment. The current growth in the DJ music industry is very similar to the growth of the recording studio in last decade, due to PortaStudio.
Based on components, the global DJ equipment market can be broadly classified as DJ Mixers, Digital DJ controllers, CD Players, Special effect lighting, turntables and others. The CD players are the fastest growing segment, owing to the replacement of turntable by the CD players. On the other hand, DJ mixer is the largest segment of the global DJ equipment market, which is expected to retain its market dominance, in terms of value during the forecast period.
Europe had been the largest DJ equipment market; followed by North America. Asia Pacific is expected to be the fastest growing geographical division for the DJ equipment market. The growing influence of western culture in developing countries, along with the up surge in urbanization of countries, such as India and China has increased the market penetration of the DJ equipment market. Moreover, the demographical advantage such as large base of young population in India and China is providing considerable growth to the DJ equipment market, in Asia Pacific.
The Pioneer Electronics Inc. accounted for the largest DJ equipment market share, in 2014. The high proprietary learning curve, along with large product portfolio of Pioneer is the key factor for its market dominance. The other competitors in the DJ equipment market are Spark Laser Technology Co. Ltd., Summitlite International Co. Ltd., Shenzhen X Photoelectric Technology Co. Ltd., and Shenzhen Toploud Electronic Co. Ltd., Allen & Heath, Reloop, Native Instruments GmbH, and Novation Digital Music Systems Ltd.