The global effects processors and pedals market is anticipated to grow at a significant CAGR during the forecast period (2022-2028). The rapid urbanization coupled with rising disposable income is one of the major factors driving the growth of the global effects processors and pedals market. According to the data published by UNCTAD in 2021, the share of the urban population increased to 56.2% in 2020. In developed economies, 79.0% of people live in cities. Also, as per the data published by United Nations Organization, the global population is projected to increase by 2 billion persons in the next 30 years from 7.7 billion in 2020 to 9.7 billion in 2050 and could peak at nearly 11 billion around 2100. The growth has been driven by increasing urbanization and accelerating migration. 61.0% of the global population lives in Asia, 17.0% in Africa, 10.0% in Europe, 8.0% in Latin America, and the remaining 5.0% in Northern America. Moreover, as per the data published by Statistics Canada, the share of disposable income for the household in the lowest quintile increased from 6.1% in the first quarter to a high of 7.2% in the second quarter of 2020. Also, as per OECD, the average household net adjusted disposable income per capita is $30,490 per annum.
Looking toward the demand for effects processors and pedals, key market players are adopting various strategies including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new product launches, to stay competitive in the market. For instance, in March 2022, Boss launched GX-100, amp/ effect processors for guitar and bass. The GX-100 offers23 AIRD amplifiers and over 150 effects derived from the flagship GT-1000, up to 15 effects blocks. Moreover, the GX-100 provides a deep real-time command via onboard footswitches and external control support.
Further, in January 2021, Universal Audio launched effects pedals. The pedals feature sonically authentic emulations of delay, classic reverb, and modulations circuit with analog design and dual-processor that delivers 3 vintage sounds per pedal. Further, the pedals offer various modes such as live modes, analog dry-through, stereo & dual-mono operation, and additional downloadable effects from the UAD algorithms. Thus, such launches are anticipated to drive the growth of the global effects processors and pedals market during the forecast period (2022-2028).
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Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Type
- By Application
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- Casio Computer Co. Ltd, Kawai Musical Instruments Mfg Co.Ltd, and Mason & Hamlin Piano Co. among others
A full report is available at: https://orionmarketreports.com/global-piano-market/111787/
Global Piano Market Report by Segment
By Type
Grand Piano
Upright Piano
By Application
Learning and Teaching
Entertainment
Others
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
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