The global musical instrument market size reached US$ 14.4 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 18.8 Billion by 2032, exhibiting a growth rate (CAGR) of 3.03% during 2024-2032. The burgeoning music industry, increasing demand for digital musical instruments, and the rising number of music enthusiasts represent some of the key factors driving the market.
