The global music box market is anticipated to grow at a significant CAGR of 4.9% during the forecast period (2022-2028). The global music box is growing due to the increasing technological advancement and development in the music industry. The rising demand for composing, recording, mixing, and mastering music among the musician and the artist is also driving the demand for the music box market. The surge in the adoption of cloud-based audio workstations and the growing digitization of instruments is also anticipated to boost the growth in the global market. The increasing number of global festivals and music concerts globally along with trade shows, motion production and films, exhibitions, music concerts, and sports events is also expected to drive the growth of the global music box market. The rise in music systems in the vehicles for a comfortable driving experience is also driving the market growth. The changing consumer lifestyle along with the inclination of the millennials for advanced technological equipment is further driving the growth of the market.
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The Asia-Pacific region is anticipated to hold the major share in the global music box market. This is due to the increasing technological innovation, presence of major market players and equipment providers, such as Yamaha Corp. and Alpine Electronics along with rapid industrialization is boosting the market growth. The changing consumer lifestyle and the rise in disposable income in emerging economic countries, such as India and China, are further boosting the growth of the Asia-Pacific music box market.
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The market players are also contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new launches, to stay competitive in the market. For instance-
- In February 2022, Sony Corp. announced the launch of a music box with 360 spatial sound mapping technology, Dolby Atmos and DTS:X technology, and high-resolution and 360 reality audio.
- In August 2020, Sony Corp. announced the launch of a high-power box audio system with a karaoke range with the MHC-V83D, MHC-V73D, MHC-V43D, and MHC-V13, expanding choices for party lovers as well as families who prefer one-box styled systems with a smaller footprint and portable design.
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Market Coverage
- The market number available for – 2022-2028
- 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 – Sony Corp., ASUSTeK Computer Inc., Microsoft, SAMSUNG, Amazon, Apple Inc., Koninklijke Philips N.V., and LG Electronics, among others.
Key questions addressed by the report
- 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?
GLOBAL Music Box Market Report by Segment
By Type
- Wireless
- Wired
By Application
- Commercial
- Residential
GLOBAL Music box Market Report by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
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