Turntable Market is Projected to Grow Up and Forecast Report by 2021-2028

The Turntable Market Research Report covers business strategies, qualitative and quantitative analysis, and emerging industry trends. It is a detailed and significant study. The study conducts a complete examination and analysis of the key elements of the global Turntable market. The research analysts created this report after carefully examining the drivers, restraints, challenges, trends, and opportunities in the global Turntable market.

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.

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.

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Competitive Terrain:

The global Turntable industry is highly consolidated owing to the presence of renowned companies operating across several international and local segments of the market. These players dominate the industry in terms of their strong geographical reach and a large number of production facilities. The companies are intensely competitive against one another and excel in their individual technological capabilities, as well as product development, innovation, and product pricing strategies.

Leading Market Players Profiled in the Report:

Sound United, LLC, inMusic Inc., Clear Audio Electronic GmbH, Panasonic Corporation, Thorens, Pro-Ject Audio Systems, Audio-Technica Corporation, TEAC Corporation, Sony Group Corporation, Crosley Radio

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Some Key Highlights in 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.

North America is expected to dominate other regions in terms of revenue over the forecast period attributed to rising popularity and trend of DJ music, presence of large number of music clubs and bars, and increasing number of live shows, music concerts, and music shows in the region.

Key market aspects studied in the report:

Market Scope: The report explains the scope of various commercial possibilities in the global Turntable market over the upcoming years. The estimated revenue build-up over the forecast years has been included in the report. The report analyzes the key market segments and sub-segments and provides deep insights into the market to assist readers with the formulation of lucrative strategies for business expansion.

Competitive Outlook: The leading companies operating in the Turntable market have been enumerated in this report. This section of the report lays emphasis on the geographical reach and production facilities of these companies. To get ahead of their rivals, the leading players are focusing more on offering products at competitive prices, according to our analysts.

Report Objective: The primary objective of this report is to provide the manufacturers, distributors, suppliers, and buyers engaged in this sector with access to a deeper and improved understanding of the global Turntable market.

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Market Overview:

The report bifurcates the Turntable market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.

Segments Covered in this report are:

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 and Bars

Concerts

Others

Regional Outlook:

North America (the U.S., Canada, Mexico)

Europe (the U.K., Germany, France, Italy)

Asia Pacific (India, China, Japan, Korea)

Latin America (Brazil, Argentina, Ecuador, Chile)

Middle East & Africa (Egypt, Turkey, Saudi Arabia, Iran)

Key reasons to buy the Global Turntable Market report:

The latest report comprehensively studies the global Turntable market size and provides useful inference on numerous aspects of the market, such as the current business trends, market share, product offerings, and product share.

The report offers an insightful analysis of the regional outlook of the market.

It offers a detailed account of the end-use applications of the products & services offered by this industry.

The report holistically covers the latest developments taking place in this industry. Therefore, it lists the most effective business strategies implemented by the market rivals for ideal business expansion.

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