Technology

The music synthesizers market is projected to grow by USD 294.8 million from 2024-2028, with AI reshaping the landscape and the global music industry’s growth boosting revenue – Technavio

Published

3 hours ago

September 24, 2024

NEW YORK, Sept. 24, 2024 /PRNewswire/ — The Global Music Synthesizers Market size is estimated to grow by USD 294.8 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 8.09% during the forecast period. Growth of global music industry is driving market growth, with a trend towards rising number of music festivals and live events However, rise in demand for substitute products poses a challenge.Key market players include Alphabet Inc., Arturia, Audiotonix Ltd., CASIO Computer Co. Ltd., Clavia Digital Musical Instruments AB, Crumar Instruments, Doepfer Musikelektronik GmbH, Elektron Music Machines Mav AB, Focusrite Plc, HDC Hyundai Development Co., Kemper GmbH, KORG Inc., Moog Music Inc., Music Tribe Global Brands Ltd., Roland Corp., Synthtopia, teenage engineering ab, The Music Alliance, Waldorf Music GmbH, and Yamaha Corp..

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Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Type (Digital synthesizers and Analog synthesizers), Distribution Channel (Offline and Online), and Geography (North America, APAC, Europe, Middle East and Africa, and South America)

Region Covered

North America, APAC, Europe, Middle East and Africa, and South America

Key companies profiled

Alphabet Inc., Arturia, Audiotonix Ltd., CASIO Computer Co. Ltd., Clavia Digital Musical Instruments AB, Crumar Instruments, Doepfer Musikelektronik GmbH, Elektron Music Machines Mav AB, Focusrite Plc, HDC Hyundai Development Co., Kemper GmbH, KORG Inc., Moog Music Inc., Music Tribe Global Brands Ltd., Roland Corp., Synthtopia, teenage engineering ab, The Music Alliance, Waldorf Music GmbH, and Yamaha Corp.

Key Market Trends Fueling Growth

The music synthesizers market has experienced growth due to the rising popularity of live events such as music festivals and concerts, particularly among millennials worldwide. With a large youth population and increasing disposable income, more individuals are spending on attending these events. This trend is expected to continue, as over 50% of the US population and a significant number in the UK attend music events annually. The live music industry’s total revenue is projected to exceed USD30 billion globally by the end of 2022. The UK hosts internationally renowned festivals and concerts, including Field Day, Glastonbury, Burning Man, and Coachella. The expansion of the music industry will fuel the demand for advanced music synthesizers, thereby boosting the global music synthesizers market’s growth during the forecast period.

The music synthesizers market is experiencing significant growth due to trends like customization options and enhanced performance features. Sound engineers and musicians seek high-quality sound and connectivity for seamless integration into their productions. Polyphony and sonic variety are key factors driving demand. Distribution channels include brick-and-mortar retail outlets like music stores and specialty shops, large retail chains, and multi-brand stores. Online sales through e-commerce websites offer convenience shopping, transcending geographical boundaries. Younger generations with disposable income are beginning to explore synthesizers. Advanced musical interfaces, AI-powered synthesizers, DIY tool kits, and social media are influencing market trends. However, hindrances include trade regulations and import-export analysis. The thriving music industry continues to fuel market growth.

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Market Challenges

The global music synthesizers market has experienced growth, but the emergence of substitutes poses a significant challenge. These substitutes include stand-alone music synthesizer software and open-source software. Software synthesizers, such as VCV Rack and ZynAddSubFX, offer advanced algorithms and are less expensive, less complex, and portable. Open-source software synthesizers like amsynth, Xsynth, Hexter, Wsynth, WhySynth, and Alsa Modular Synth are also gaining popularity. Furthermore, music synthesizer apps, like Logic Studio, Synth TB-303, DRC- Polyphonic Synthesizer, and Rockrelay Synth FM, offer the same capabilities as classic analog or digital synthesizers on smartphones and other mobile devices. While these alternatives increase competition, they also expand the market reach and accessibility, potentially balancing market growth during the forecast period.The Music Synthesizers Market faces challenges in production analysis and value chain optimization. Producers of electronic instruments, including Music Synthesizers, must cater to both professionals in recording studios and amateurs at the country level. Cost is a significant factor for both groups, driving demand for cost-effective synthesizers. Traditional acoustic instruments offer unique timbres, but synthesizers provide endless possibilities in sound design through analog, digital, and software synthesis. Professional music production and live performances require advanced designs and user-friendly interfaces. Emerging revenue pockets include electronic music genres, music education, and do-it-yourself music culture. Compositional limitations and user experience are key concerns. Advanced designs incorporate AI and machine learning algorithms, wireless connectivity options, and robustness for live performance settings. Oscillators, filters, and amplifiers are essential components of synthesizers. Understanding musical theory and composition is crucial for effective sound design. Cost-effective synthesizers cater to hobbyists and individual usage, while professional-grade synthesizers cater to musicians and recording studios. Portability and robustness are essential considerations for musicians on the go.

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Segment Overview

This music synthesizers market report extensively covers market segmentation by

Type 1.1 Digital synthesizers1.2 Analog synthesizersDistribution Channel2.1 Offline2.2 OnlineGeography 3.1 North America3.2 APAC3.3 Europe3.4 Middle East and Africa3.5 South America

1.1 Digital synthesizers- Digital synthesizers are electronic musical instruments that utilize digital signal processing to generate musical sounds. These synthesizers can recreate the sounds of various acoustic, electric, and electronic instruments through digital recordings and algorithms that control oscillations. Digital synthesizers offer benefits such as precise tuning, filtering, and simplicity, making them more flexible and capable than their analog counterparts. The integration of Musical Instrument Digital Interface (MIDI) has been instrumental in connecting and synchronizing digital synthesizers with other electronic instruments and controllers. MIDI is a standard communication protocol that enables digital musical instruments to communicate with one another, reducing the need for excessive hardware. This technology has significantly increased home recordings, thereby reducing artists’ recording costs and contributing to the growth of the digital synthesizers market.

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Research Analysis

The Music Synthesizers market encompasses a wide range of electronic instruments that generate sound through various synthesis methods, including analog, digital, and software-based solutions. This market caters to both beginners and professionals, with disposable income being a significant factor in purchasing decisions. Synthesizers are increasingly being used in professional music production, recording studios, live performances, and music education. AI-powered synthesizers and DIY tool kits are emerging revenue pockets, while trade regulations ensure quality and safety. Advanced designs, machine learning algorithms, wireless connectivity options, and expressive performance features are key trends. Oscillators, filters, amplifiers, and other components are essential for musical theory, composition, sound design, and artistic expression. Cost remains a consideration, with customization options and user interface playing crucial roles in the buying decision. Sound engineers and artists continue to push the boundaries of synthesizer technology.

Market Research Overview

The Music Synthesizers Market is experiencing significant growth in the thriving music industry, particularly among younger generations with disposable income. Synthesizers, which convert electrical energy into musical sounds, offer unique timbres and sonic variety that traditional acoustic instruments cannot. The market includes digital, analog, and software synthesizers, each with their own advantages. Beginners and professionals alike benefit from advanced musical interfaces, modified input variations, and AI-powered synthesizers. Social media and DIY tool kits have fueled the do-it-yourself music culture. However, hindrances include trade regulations, import-export analysis, production analysis, and value chain optimization. Emerging revenue pockets include Music Producers, Amateur musicians, and individual usage in various country levels. Cost, electronic instruments, audio signals, sound, and musical theory are key components of synthesizers. Analog synthesis and digital synthesis, as well as oscillators, filters, and amplifiers, are essential for sound design and composition. User-friendly synthesizers, cost-effective options, live performance settings, robustness, portability, and expressive performance features are crucial for artists. High-quality sound, connectivity, polyphony, and sonic variety are essential for sound engineers. Distribution channels include brick-and-mortar retail outlets, music stores, specialty shops, large retail chains, specialty stores, multi-brand stores, and online sales. Geographical boundaries and convenience shopping also impact the market.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

TypeDigital SynthesizersAnalog SynthesizersDistribution ChannelOfflineOnlineGeographyNorth AmericaAPACEuropeMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

Technology

Nuvve Updates Shareholders on Compliance Measures

Published

3 mins ago

September 25, 2024

SAN DIEGO, Sept. 24, 2024 /PRNewswire/ — Nuvve Holding Corp. (Nasdaq: NVVE), a leader in vehicle-to-grid (V2G) technology, has issued a letter to shareholders regarding actions taken to regain compliance with Nasdaq’s Bid Price Rule.

Nuvve recently executed a 1-for-10 reverse stock split, resulting in 652,727 shares outstanding. The Company encourages shareholders to protect their shares against market manipulation through actions such as holding shares in cash accounts and requesting “no loan” status.

For shareholder letter: https://nuvve.com/shareholder-letter/

For more information, contact investors@nuvve.com.

About Nuvve Holding Corp. Nuvve (Nasdaq: NVVE) transforms electric vehicles into grid resources, driving the transition to a net-zero future. Learn more at nuvve.com

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SOURCE Nuvve Holding Corp.

Technology

Wire and tube industry expos to spark international trade in Shanghai

Published

3 mins ago

September 25, 2024

SHANGHAI, Sept. 25, 2024 /PRNewswire/ — The wire China 2024 and Tube China 2024, organized by Shanghai Electric Cable Research Institute Co., Ltd., Messe Düsseldorf (Shanghai) Co., Ltd., Metallurgical Council of the China Council for the Promotion of Int’l Trade (MC-CCPIT), are scheduled to be held from September 25 to 28 at the Shanghai New International Expo Centre, aiming to drive industry advancement and foster connections.

This year, the two expos will span 10 pavilions, encompassing a total exhibition area of 109,250 square meters. Nearly 1,500 businesses from about 30 countries and regions are expected to participate. The two exhibitions will cover the entire industry chain of cables, wires and tubes, offering a professional and efficient one-stop platform for exchanges worldwide.

wire China 2024: supporting enterprises to foster new quality productive forces

The wire China 2024 event is poised to occupy an area of 80,500 sqm, setting a milestone in its growth trajectory. With the participation of nearly 1,100 enterprises from 26 countries and regions, the expo will serve as a platform to showcase the latest developments and trends in the industry.

The exhibition will showcase an array of offerings including wire and cable manufacturing and processing machinery, auxiliary cable processing equipment, raw and auxiliary materials for cables (optical cables), finished wire products and cables, measurement and control technology, testing engineering solutions. The showcase is designed to assist enterprises in accelerating their transition toward digitalization, fostering flexibility, enabling smart production, nurturing new quality productive forces and enhancing the production competitiveness of businesses. The 2024 edition will cover five major areas: Digital Intelligent & Innovative Equipment, Technology Tools & Auxiliary Materials, Green and Low-carbon Solutions, Wires & Cables and Measures & Control Technology.

China has been promoting development of new quality productive forces since the start of 2024, with burgeoning sectors like artificial intelligence; new materials; commercial aerospace; the low-altitude economy and smart connected vehicles. These innovations are infusing the wire industry with vitality and drawing the attention of numerous overseas enterprises to China. This year, the event will host businesses from countries and regions such as South Korea, Japan, the United States, Switzerland, the United Kingdom, Spain and Turkiye. Business delegations from Germany, Italy, France and Austria will be present at the W1 Pavilion to exhibit their innovations and latest breakthroughs.

Heavyweight participants

This year, the event has garnered robust backing from prominent industry associations, including the Asian Wire & Cable Industry Corporation Alliance (AWCCA); Germany’s Federal Ministry for Economic Affairs and Climate Action (BMWK); the Association of the German Trade Fair Industry (AUMA); the German Mechanical Engineering Industry Association (VDMA); the ITA/ICE-Italian Trade Agency (ITA); the Italian Wire Machinery Manufacturers Association (ACIMAF) and the Austrian Federal Economic Chamber (WKÖ).

List of some well-known participating brands:

NIEHOFF, WAFIOS, SIKORA, MAILLEFER, ROSENDAHL NEXTROM, BOROUGE, SAMP, PROTON, ELANTAS, ENEOS NUC, HANWHA, TOTOKU, KOS, MFL GROUP, TEIJIN ARAMID, ZUMBACH, EUROLLS, SWPG, ESTEVES, SHENG CHYEAN, PETROFER, HUNTSMAN, DSR, SMATER, SINGCHEER, HONTA, G.Y.M., HANDING, JCDOFAMA, XINGMING, GOLDEN TECHNOLOGIES , INOVANCE, DONY GROUP, LIQIANG MECHANICAL & ELECTRICAL, AEROSPACE NANHAI, YI TENG ELECTRIC, HUAYUAN, PANGHAO, WANMA MACROMOLECULE, TIANRONG, CGN GROUP, CABLE, ORIGINAL, PAMICA, QLPM, ATPOIMER, etc..

(*Information is updated as of August 31st, 2024. Listing is in no particular order)

Fostering new quality productive forces

Centering on digital intelligence and innovation, the expo will be a key platform to display products and services. Singcheer will introduce the SiMOM for remote collaborative manufacturing operations and an AGV logistics system tailored for the cable industry. Maillefer from Finland will showcase the latest AI panoramic scanner 2.0, while Inovance from Shenzhen will present a motorized cable extrusion solution using advanced control algorithms and the MD810 multi-drive. These digital intelligence and innovation products cover manufacturing equipment, industrial software, visual inspection and other specific businesses, empowering cable companies to transit toward intelligent manufacturing.

Leading new trends

The wire China 2024 is not just a trade platform, but a place to communicate the latest market trends and release new products and solutions. This year, there will be nearly 60 high-end technological communication events.

The annual China Wire and Cable Industry Annual Conference will have in-depth discussions on new quality productive forces and high-quality development. Participants will share opinions on new market opportunities and challenges, exchange insights on the market trends, analyze the development status of the wire and cable industry, release annual reports on the development of international and domestic cable standardization work, as well as business competitiveness analysis reports. Simultaneously, the conference will address quality and technical issues related to typical products, unveil significant common technical research accomplishments and identify challenges and hurdles in emerging technological domains within the cable industry. The event aims to inspire businesses, bolster their confidence, foster courage in confronting challenges, and contribute to enhancing the development standards of both the industry chain and the supply chain.

The themed forums for wire and cable businesses will cover industrial economics and the development of the cable industry; the role of intelligent equipment in supporting high-quality development; green and low-carbon innovations in cable materials; high-quality special materials aiding the development of new energy vehicles; efficient and energy-saving electrical equipment; cable industry resource recycling technologies and digital intelligence empowering the development of the cable manufacturing industry.

Tube China 2024: 20 years of companionship, jointly shaping the new future of the industry.

As one of leading professional expos for tubes in Asia, Tube China 2024 has a total exhibition area of 28,750 sqm. Nearly 400 brands from 13 countries and regions including Germany, Japan, South Korea, Italy, the Netherlands, Latvia, Norway, Switzerland, and the United Kingdom will participate in the event. Tube China will present a high-level industry feast of intelligence and tube manufacturing for the Chinese tube industry and its upstream and downstream sectors.

This year, the expo will welcome some first-time participants including Fanuc. Industry-leading players including Fanuc, IPG, Kinkelder, Stark, Inductotherm, SINOAUDE, Halifax Fan and ENRX will bring their latest developments to the event. Enterprises such as IPG, Changen, Longxin, Huibaisheng and Huinengda will focus on showcasing innovative products and applications related to lasers and optoelectronics; optics and optical manufacturing; testing and quality control; as well as the innovative products and application solutions of infrared technology and applications.

List of some well-known participating brands:

FANUC, IPG, KINKELDER, STARK, INDUCTOTHERM, SINOAUDE, HALIFAX FAN, ENRX, HUIBAISHENG, SINOFORM, CHANGEN, HANDUK, KTM, TOYOKOHAN, TAELIM, VICTAULIC-TUWEI, TEMA, DONGAN, FIELD, AMPCO, ARES, JINYI, SONGYANG STAINLESS STEEL INDUSTRY ASSOCIATION, CHENLONG, ZHONGYONG, CHANGFENG, WAN-RUN DA , BOKENA, TUS PIPE, LONGXIN, NANYANG, CONTOR M & E, SHENGTIAN, NEW VICTOR, HUAYANG, HUILITONG, BAOFENG, JINCHUANG XINTIAN, HAIQIANWEI, FUGANG, ASCENDING, JUYI, LIWAN, VICTORY, ZHONGHAO, YOUFA, etc..

(*Information is updated as of August 31st, 2024. Listing is in no particular order)

Concurrent events, including the China International Steel Tube & Pipe Summit and the 2024 Heat Treatment Technology Seminar, will be organized during the expo to enhance communication, foster partnerships, drive technological innovation and uphold high-quality development within the industry.

A variety of activities will be organized to celebrate the 20th anniversary of the annual expo and the longstanding support from all participants of the expo.

Looking ahead, organizers of wire & Tube China will continue to promote development of the event to promote exchanges and bolster quality development of the industry.

View original content:https://www.prnewswire.com/apac/news-releases/wire-and-tube-industry-expos-to-spark-international-trade-in-shanghai-302255418.html

SOURCE Messe Düsseldorf Shanghai

Technology

PayMongo and Brankas Now Offer the Widest Range of Payment Options in the Philippines

Published

3 mins ago

September 25, 2024

Enable seamless, secure, and direct online banking payments with Brankas through PayMongo, featuring top Philippine banks BDO, Metrobank, and Landbank.

MANILA, Philippines, Sept. 25, 2024 /PRNewswire/ — PayMongo has partnered with Brankas to add new payment options to the PayMongo platform, making it the payment gateway with the widest range of payment options for Filipino businesses. PayMongo payment options include credit cards, e-wallets, BNPL, QRPh, and online banking. PayMongo merchants can now accept direct online banking payments from three additional Philippine banks — BDO, Metrobank, and Landbank — offering greater convenience and flexibility for both merchants and customers.

eCommerce stores, food delivery websites, ride-hailing apps, and gaming platforms that are PayMongo merchants can accept more forms of payments by integrating Brankas Direct API. This pay-by-bank channel is another trusted payment method that makes transactions faster and enhances the overall payment experience for users.

“Brankas and PayMongo share the same commitment to deliver fast and secure payment experience for users. Offering more payment options is a win-win for both customers and merchants as we offer greater payment flexibility and customer reach at the same time.” said Todd Schweitzer, Brankas CEO and Co-founder.

How to Get Started with Brankas Direct

To start accepting direct online banking payments, existing PayMongo merchants simply need to contact PayMongo Customer Support to request the activation of BDO, Metrobank, and Landbank payment options. The feature is available for Shopify plug-in users, PayMongo’s Custom & Checkout API, PayMongo Pages, and PayMongo Links. Users of the custom API require minimal updates, and the PayMongo developer website provides the full details.

Ready to enhance your payment offerings and provide a better customer experience? Enable Brankas Direct through PayMongo now. Visit Brankas Direct or PayMongo to learn more.

About PayMongo

PayMongo is a leading financial infrastructure platform in the Philippines, designed to simplify how businesses manage their finances. From payment processing to embedding financial services, PayMongo provides solutions that enable businesses to accept payments both online and in-person, streamline financial operations, and drive profitability. By offering a wide range of payment options and seamless integration, PayMongo empowers businesses to grow their revenue and succeed in the digital economy.

About Brankas

Brankas is a leading global open finance technology provider. We provide API-based solutions, data and payments solutions for financial service providers (like banks, lenders and e-wallets) and online businesses. Brankas partners with banks to build and manage their open finance infrastructure, producing APIs for real-time payments, identity and data, new account opening, remittances, and more. With Brankas’ secure open banking technology, online businesses, fintech companies and digital banks can use Brankas APIs to create new digital experiences for their users.

Media Enquiries:

Yiyang Teo
yiyang.teo@brank.as

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SOURCE Brankas