The global market for DJ equipment suffered significantly in the aftermath of the economic meltdown and is presently on a steady upward curve as the economies are being nursed back to good health. The consumer base for the music composing industry comprises mostly of youngsters looking for recording gears, keyboards and digital mixer for studio. The potential for a deeper market penetration among the population in the 30+ age group continue to be limited, and particularly so, in developed nations with a high percentage of the population from the baby boomer era.
Present growth in the market for DJ equipment comes mostly from the demand for CD players as a replacement for traditional turntables. The music composition segment of the DJ industry also contributes to the increasing demand for equipment to supplement or complement other systems of automation for a wealth of experience of sound. The retail price of DJ equipment moving up consistently is another limiting factor in the growth of this industry.
A broad categorization of the market for DJ equipment are given below
- Home DJ equipment
- Hip-hop DJ
- Trance DJ
While the hip-hop category of DJ equipment and conventional turntables cannot be interfaced, the other two equipment types can be interfaced. In 2014, Trance DJ equipment enjoyed the highest market share while the hip-hop group witnessed a steady growth.
Growing demand for DJ equipment
Access to online retailers and DJ itself growing in popularity with Disco clubs adopting it as featured music in many developing nations in the Asia-Pacific region is currently aiding the demand push for DJ equipment.
Low consumer awareness
Consumer awareness of Music and DJ equipment is little and professional musicians tending to speculate the technical capability of various DJ equipment are also factors that hinder the growth of the market for DJ equipment.
Market classification by components
Based on its parts, the global market for DJ equipment can broadly be classified as CD Players, DJ Mixers, Digital DJ controllers, turntables, special effects lighting, and others. Within these, CD players have seen the fastest growth with turntables getting replaced. But the largest segment for DJ equipment is the DJ mixers, and it is likely to maintain the dominant position for a long time to come.
The largest market for DJ equipment had been Europe with North America coming second. But, regarding future growth, Asia Pacific could be growing faster compared to other market segments. Market penetration has been influenced by the increase in urbanisation and influence of other cultures, particularly the western culture in developing nations like China and India. Further, the young population in these countries provides significant impetus to the growth of DJ equipment market.
Pioneer Electronics Inc. with a broad portfolio of products remained the market leader in 2014. Summitlite International, Spark Laser Technology, Shenzhen Toploud, Allen & Health, Novational Digital, Reloop and Shenzhen x Photoelectric are some of the other major competitors in the global arena for DJ equipment.