MIDI Controller Market To Reach US$ 118 Mn by 2028
A MIDI controller is a piece of hardware or software that can generate musical instrument digital interface (MIDI) data and transmit it to a device that supports MIDI. They are used to activate the sound and control the parameters of electronic music performances. The MIDI controller itself does not have the ability to make sounds, but has an interface that the player can press or touch. This action will trigger MIDI data, which will then be transmitted to the synthesizer using a MIDI cable. The synthesizer produces the sound again, which can then be amplified by the speaker.
The Global MIDI Controller Market is projected to be US$ 103.2 Mn in 2020 to reach US$ 118 Mn by 2028 at a CAGR of 1.7%. The first five-year cumulative revenue (2020–2024) is projected to be over US$ 0.5 Bn, which is estimated to increase moderately over the latter part of the five-year forecast period.
Global MIDI Controller Market: Market Dynamics
The MIDI controller provides modern computer-generated audio by providing a system that can create sounds and music on the computer. This is a key factor affecting music producers to increase the adoption rate of MIDI controllers. MIDI processing is easy to use. The basic requirements include a USB cable that can be easily connected to the portable hard drive of the computer. This ease of use provided by various MIDI controllers is expected to be the main driving factor for the growth of the MIDI controller market. The MIDI controller can use traditional manual controls (such as faders, sliders, buttons and rotary encoders) to adjust the software to improve the tactility of live performances. Such factors impact market positively and expected to continue the market growth in the upcoming years.
Compared with real musical instruments, MIDI musical instruments do not sound real, which may hinder music producers from adopting MIDI technology, and therefore may affect the growth of the MIDI controller market.
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Introducing new technologies, such as neova ring MIDI controller that can recognize natural gestures, and clearly transform every subtlety into musical expression, such factors are expected to create multiple opportunities for driving market growth.
Global MIDI Controller Market: Market Forecast
The comprehensive research report comprises a complete forecast of the global MIDI controller market based on factors affecting the market and their impact in the foreseeable future. According to the forecast projections, revenue from the Global MIDI Controller Market is estimated to expand at a moderate CAGR of 1.7% during the forecast period.
Global MIDI Controller Market: Segmental Snapshot
The market report has been segmented on the basis of product type, application, and region. The product type segment includes 25 key, 37 key, 49 key, 61 key, 88 key & others. The application segment includes household, stage & other. The region covered in the analysis are United States, Europe, Japan, China, India, Southeast Asia, Rest of the world.
By product type: The 49 key segment is expected to register a CAGR of over 1.9%, thereby accounting for highest revenue share among the type segments.
By application: The household segment is expected to register a CAGR of over 2.2% over the forecast period, thereby accounting for highest revenue share among the application segments.
By region: The market in North America accounted for highest revenue share in the global MIDI controller market in 2020, and is estimated to register a CAGR of over 1.3% between 2020 and 2028.
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Global MIDI Controller Market: Competitive Analysis
The research report on the global MIDI controller market includes profiles of major companies such as inMusic Brands, Inc. (Akai Professional), Focusrite Plc (Novation), Ik Multimedia Production Srl, Korg, Inc, Arturia S.A., Fatar Srl (Studiologic), Samson Technologies, Midiplus Co. Ltd.
The Global MIDI Controller Market: Global Industry, Size, Share, Growth, Trends, and Forecast, 2020–2028 report has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the present scenario and the growth prospects of the global MIDI Controller Market for 2020–2028.
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