The growth in consumer spending levels post economic slowdown in developed regions, along with increasing disposable income in the developing countries, has up surged the market penetration of the electronic musical instruments market, in the past few years. Electronic drum kit is slowly and steadily replacing the conventional drum kit. The price of traditional drum kit has fallen steadily over the years, owing to high market penetration of electronic drum. Fewer additional accessories, such as cymbals and heads minimize the operational cost of electronic drum, over the longer run. Moreover advantages, such as less acoustic noise, on board headphones for silent practice, and overall portability of electronic drum kit makes it one of the popular alternatives of traditional acoustic drums.
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The recent product innovations in the electronic drum market have improved user experience in terms of ease of usage. Features such as metronome and play along song are laying new growth opportunities for the electronic drum market, especially from the beginners and non-professional drummers.
The electronic drum is an embedded electronic musical instrument comprising drum trigger inputs, audio output, and a user interface. Drum trigger input equipment is the most important part of electronic drum set, which contains all types of intelligence and sound sampling mechanism. The sound sampling in electronic drum can be varied with accordance with different drum trigger pad separately.
Based on the different components, the global electronic drum market can be broadly categorized as drum kit, cymbals, drum heads, educational percussion, stick and mallets, and others. On the basis of type, the global electronic drum market can be segmented as portable electronic drum, and acoustic triggered drum kit. The educational percussion is expected to be the fastest growing market, during the next five to six years. Drum kit segment is expected to be the largest market segment during the forecast period in terms of value. Despite extensive product innovation in recent years, the limitation of electronic drum to produce the feel and sound richness of acoustic based drum sets remains a major challenge for the electronic drum market. Moreover, the advanced features such as sound modeling and realistic pads are available only in the high priced product variants, which limit its reach to beginners and non-professional drummers. The lower priced variants of electronic drum lagged multiple triggered rubber and quality sound sampling.
Asia Pacific accounted for the largest regional market of electronic drum in 2014; while it is also expected to retain its market leadership position, during the forecast period attributed to the increasing consumer spending and middle class consumer base in developing countries. North America and Europe are expected to witness a moderate growth, during the forecast period. The U.S. and Canada are the major electronic drum markets in North America. Japan, China, India, and Australia are the major electronic drum market in Asia Pacific. Germany, the U.K., Spain, France and Italy are the major markets in Europe.
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Yamaha Corporation, Roland Corporation and KORG Inc., together account for the large part of global electronic drum market. The consolidated market structure of electronic drum provides high barrier for the new entrants. Moreover, the high product differentiation and high proprietary learning curve is expected to increase the barrier within entry in the coming years. Some of the competitors in the electronic drums market are Yamaha Corporation, Roland Corporation, KORG Inc., inMusic Brands Inc., Sonido Musicals, Fossil Power Systems Inc., Medeli Electronic (Shenzhen) Co. Ltd., and Pyle Audio.
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