2024. Eight Major Trends in The Development Of China's Musical Instrument Market, Among Which The Music Industry Will Have M-shaped Demand-side Differentiation

Nowadays, the influx of more and more foreign musical instrument culture and the rise of major musical instrument industries have made the musical instrument market have a major development trend, let's take a look at what?

1. Brand musical instrument enterprises are becoming more and more concentrated, backward production capacity is eliminated, excellent enterprises are emerging, and the era of the strong Hengqiang has arrived.

2. The second-hand musical instrument market will experience a long attrition period of at least five years. Between 2020 and 2023, the closure of musical instrument factories and music stores has led to a large backlog of second-hand musical instruments, heralding the golden age of the second-hand musical instrument rental market

3. From 2025, China's middle-aged and elderly population will exceed 500 million, and the middle-aged and elderly instrumental music market will become a new outlet. Intelligent, easy-to-learn musical instruments will be highly sought after, while professional institutions and talents serving middle-aged and elderly people are particularly scarce.

4. The piano industry will have M-type demand-side differentiation. At the bottom are institutions that focus on skills training, and at the top are music and art interest education service institutions. The middle zone is the studio-based class of famous teachers, forming a three-level differentiation of consumption at the bottom, middle and top.

5. Musical instrument training institutions focusing on children will become increasingly centralized. They will be mainly rooted in areas with obvious advantages in terms of student origin, and it is difficult to accommodate multiple similar competing institutions in the same market, so the ability to select sites has become the key to victory.

6. Purely professional musical instrument sales stores will gradually decrease. In the past, the mechanism of acting as an agent for sales in small areas will be replaced by large-area sales, and the integration of online and offline has become the new normal, and stores have more functions of display and warehousing.

7. Intelligent AI music will emerge, and intelligent musical instrument teaching aids will become the favorite of the new generation.

8. Personalized high-end music and art spaces with the involvement of small capital are quietly emerging. They are integrated with science and technology, art, emotional healing, traditional culture, etc., and have become a new flashpoint for spiritual and cultural needs.