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Guitar Market to Grow by USD 1.84 Billion from 2024-2028, Driven by Rising Popularity of Music Leisure Activities, AI’s Role in Shaping the Market – Technavio Report

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NEW YORK, Sept. 9, 2024 /PRNewswire/ — Report with market evolution powered by AI- The global guitar market  size is estimated to grow by USD 1.84 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 7.02%  during the forecast period.  Growing popularity of music-related leisure activities is driving market growth, with a trend towards growing online retailing . However, long replacement cycle of guitars  poses a challenge. Key market players include Armadillo Enterprises Inc., Astha Guitars, B.C. Rich LLC, C. F. Martin and Co. Inc., CorTek Corp., Fender Musical Instruments Corp., G and L Musical Instruments, Gibson Brands Inc., Godin Guitars, HOSHINO GAKKI Co. Ltd., Karl Hofner GmbH and Co. KG, Kiesel Guitars, Paul Reed Smith Guitars, Rickenbacker International Corp., Roland Corp., Schecter Guitar Research Inc., TAKAMINE GAKKI CO. LTD., Taylor Listug Inc., The ESP Guitar Co., and Yamaha Corp..

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Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Type (Acoustic and Electric), Distribution Channel (Offline and Online), and Geography (North America, Europe, APAC, South America, and Middle East and Africa)

Region Covered

North America, Europe, APAC, South America, and Middle East and Africa

Key companies profiled

Armadillo Enterprises Inc., Astha Guitars, B.C. Rich LLC, C. F. Martin and Co. Inc., CorTek Corp., Fender Musical Instruments Corp., G and L Musical Instruments, Gibson Brands Inc., Godin Guitars, HOSHINO GAKKI Co. Ltd., Karl Hofner GmbH and Co. KG, Kiesel Guitars, Paul Reed Smith Guitars, Rickenbacker International Corp., Roland Corp., Schecter Guitar Research Inc., TAKAMINE GAKKI CO. LTD., Taylor Listug Inc., The ESP Guitar Co., and Yamaha Corp.

Key Market Trends Fueling Growth

The global guitar market is undergoing a transformation due to shifting consumer behavior and the rise of online retailing. With technology advancing and digital platforms becoming more accessible, the guitar industry is leveraging online retail to expand its reach. Online shopping offers unmatched convenience for guitar enthusiasts, enabling them to browse, compare, and purchase guitars from home. This accessibility eliminates geographical restrictions and caters to a global customer base. Online platforms provide a diverse selection of guitar brands, models, styles, and price ranges. Buyers benefit from comprehensive product information, including specifications, features, customer reviews, and video demonstrations, enabling informed decisions. Manufacturers and boutique brands are adopting direct-to-consumer models, fostering direct customer engagement and loyalty. Customization options are available, allowing customers to design personalized guitars. Advanced technology, such as virtual and augmented reality, offers virtual try-before-you-buy experiences. Online retailers provide educational resources, tutorials, and forums for a sense of community. Price transparency and competition drive potential growth in the guitar market. 

The guitar market is experiencing significant growth due to increasing trends in music education programs in school curricula and global schools. Curriculum policies prioritizing music education have driven product demand. Musical bands and the adolescent population’s interest in leisure activities fuel the market. Online retail platforms, such as E-commerce and Guitar Center, cater to this demand. Economies in Dubai and the UAE, with high internet penetration, are key markets. Digital music tools and the promotion industry, including online performances and virtual classes, are transforming music education. Households continue to invest in solid-body electric guitars, rock and metal bands, and live music shows. String instruments, including electric and acoustic guitars, remain popular. The piano, too, retains its place in music education. Commercial music schools and colleges are thriving. The market for musical instruments, including guitars, continues to grow. 

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Market Challenges

The guitar market caters to consumers who value the reliability and quality of branded guitars. Vendors prioritize durability in their designs, considering factors like extreme humidity and temperature that can affect wooden guitars. They use high-grade materials, such as wood and other raw components, to create lightweight and long-lasting instruments. Vendors invest in research and development to introduce innovative, durable materials and extend guitar lifespan. Acoustic guitars typically last ten years, while electric guitars can last up to 20-30 years. Replacement sales are common in commercial applications, but the long lifespan of guitars limits market growth. Guitar manufacturers offer product warranties and adhere to industry regulations to ensure durability. The long replacement cycle of guitars is expected to restrict the expansion of the global guitar market.In the dynamic world of musical instruments, guitars hold a significant market share. With live music shows and various genres like rock and metal gaining popularity, the demand for both electric and acoustic guitars remains strong. Traditional retail stores like Guitar Center face competition from e-commerce platforms. Six-string instruments, whether hands are plucking acoustic rhythm or lead on an electric guitar, require amplification for optimal sound. Small amplifiers or PA systems are essential for increasing volume. Famous musicians’ influence drives consumer interest, leading to increased sales. Digital tools like video conferencing, file sharing, and digital whiteboards have revolutionized music education, benefiting students and music schools. The premium segment caters to wood-based guitars, while competitors offer various features to stand out. Hobbies like playing guitar continue to thrive, with platforms like YouTube, apps, and cloud-based systems providing access to digital sheet music. Overall, the guitar market remains vibrant and evolving.

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Segment Overview 

This guitar market report extensively covers market segmentation by

Type 1.1 Acoustic1.2 ElectricDistribution Channel2.1 Offline2.2 OnlineGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 Acoustic-  The Guitar Market is a thriving industry, with numerous businesses selling various types of guitars and related accessories. These businesses cater to the demands of guitar enthusiasts, musicians, and learners. They offer a wide range of products, from acoustic to electric guitars, amplifiers, strings, and more. Effective marketing strategies, competitive pricing, and excellent customer service contribute to the growth of these businesses. The market continues to expand, providing opportunities for new entrants.

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Research Analysis

Discover the vibrant world of guitar markets, where the magic of live music shows comes alive through the strings of electric and acoustic guitars. As a six-stringed musical instrument, guitars have captured the hearts of musicians and music lovers alike, with their versatility and ability to create rhythm and lead parts in various genres like rock and metal. The guitar market is thriving, with e-commerce platforms and retail stores catering to consumers’ needs. From small amplifiers to PA systems, guitarists can make their instrument louder and enhance its sound. Music schools and students fuel the demand, while famous musicians inspire new generations to learn and play. In today’s digital age, technology has transformed the guitar market. Video conferencing, file sharing, instant messaging, digital whiteboards, and digital sheet music on platforms like YouTube have made learning and collaborating easier than ever before. Whether you’re a beginner or a seasoned player, the guitar market offers endless possibilities for exploration and expression.

Market Research Overview

Guitar market encompasses various string instruments, including electric and acoustic guitars, that cater to diverse music genres such as rock and metal. The market thrives on live music shows, fueled by the passion of musicians and music lovers. E-commerce and retail stores like Guitar Center are transforming the sales landscape, offering a wide range of guitars, from six-string acoustic to solid-body electric, and accessories. Musicians, students, and hobbyists use various tools like small amplifiers, PA systems, and pickups to make their instruments louder. Famous musicians have inspired consumer interest, leading to increased sales of guitars and musical instruments. Online music education platforms, including video conferencing, file sharing, digital whiteboards, and cloud-based systems, have revolutionized learning. Digital sheet music and apps provide convenience for musicians. YouTube and social media offer a global stage for performances and collaboration. The premium segment includes wood-based guitars, catering to the needs of professional musicians and collectors. Competition is fierce, with various players vying for market share. Demographic trends, such as the adolescent population’s growing interest in music and leisure activities, drive product demand. Online retail platforms and commercial music schools have expanded access to music education, influencing curriculum policies and sales. Economies like Dubai and the UAE, with high internet penetration and a growing music industry, present significant opportunities for guitar market growth. Digital music tools and the promotion industry further fuel market expansion, enabling virtual classes, online performances, and collaboration.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

TypeAcousticElectricDistribution ChannelOfflineOnlineGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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VYLIT OPENS ITS CREATOR ADVISORY BOARD, GIVING CREATORS EQUITY IN THE PLATFORM

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Reality star & chef Dom DeAngelis, model & creator Cydney Moreau, and creator-entrepreneur Crystal Jackson named as founding members, with applications now open for creators who want a voice in how the platform is shaped

MIAMI, July 23, 2026 /PRNewswire/ — Vylit, the 18+ creator-first social platform co-founded by Ami Gan, former CEO of OnlyFans, and seasoned entrepreneur Kailey Magder, is opening applications for its Creator Advisory Board, which will include a select group of creators that will have a strong voice in shaping the platform they use and earn on.

Vylit is inviting creators not just to join the platform, but to help build it, with real shares in the company reserved for those who contribute to its growth, culture and direction. The Creator Advisory Board will give creators a direct voice in building Vylit’s community, the platform’s development and creator tools, along with ownership in the business they’re helping grow.

Applications are now open. Creators can apply by emailing vylit@vylitworld.com with their name, bio and social handles.

Vylit is launching the board with three founding members who show the range of creators it’s built for.

Dominic DeAngelis, known from YouTube and Vanderpump Villa, where his culinary skills earned recognition from viewers around the world, has been using the platform to share behind-the-scenes and day-in-the-life content with his subscribers — the kind of direct, monetized relationship with fans that Vylit is designed around.

“Social media sucks right now. The algorithms are negative, you don’t even see the people you follow anymore, and creators are struggling to find real connections with their fans,” said DeAngelis. “I’m thrilled to be part of a platform that’s doing it differently. Vylit is actually listening to creators and building with us, not just for us.”

Cydney Moreau, a Louisiana-born former track athlete turned model and creator with a following across fitness, fashion and lifestyle, balances her work with life as a mom. Vylit is where she’s turning that following into a business for the first time, on her own terms.

“As someone who is monetizing my content for the first time, knowing that I will have a say in how the platform treats other creators means everything,” said Moreau. “It’s not every day a platform actually wants creators in the room while they’re building it. Knowing Vylit is making decisions with our interests at heart gives me the confidence to build here, and I’m excited to help shape where this goes.”

Crystal Jackson, known to millions of followers as Mrs. Poindexter, is the co-founder of EssentL, a company building business infrastructure and benefits for creators. A former engineer turned multi-platform creator and entrepreneur, she brings an operator’s understanding of what creators actually need from the platforms they build on.

“I’ve spent years building an audience and a business across platforms that weren’t built for today’s creator ecosystem,” said Jackson. “What drew me to Vylit is that they’re handing creators actual ownership and a real say in the decisions that affect us. That’s not something I’ve seen anyone else do, and I want to help build it right.”

Since launching, Vylit has positioned itself as the “HBO of social media,” a space between traditional social media and adult subscription platforms, where creators can be expressive, marketable and in control. The Creator Advisory Board takes that further. Rather than building the platform for creators and handing it over, Vylit is building it with them, giving them direct ownership and a say in its direction.

“The users driving value should have a say in the business,” said Ami Gan, Co-Founder and CEO of Vylit. “Creators understand culture and digital monetization better than anyone. At Vylit, that expertise earns them a real seat at the table.”

“We didn’t want to build another platform where creators show up after the fact,” added Kailey Magder, Co-Founder and COO of Vylit. “We want them involved from day one, shaping the product, the community and the direction of the business.”

Vylit truly puts creators in charge, giving them real ownership and a direct say in how the platform evolves. The Creator Advisory Board is just the start.

To learn more, visit https://vylitworld.com/ 

To access the media kit, click here.

ABOUT VYLIT
Vylit is an 18+ creator-first social platform redefining how adults share, discover and monetize content. Co-founded by Amrapali (Ami) Gan and Kailey Magder, Vylit was created to fill the gap between traditional social media and creator platforms, offering a premium digital experience for expression. Built as “the HBO of social media,” the platform allows topless content while prohibiting explicit material, giving creators greater freedom. Vylit combines social connectivity with built-in monetization, interest-based discovery through its Vybe Matching Engine, and in-house AI Image Generation and Chat tools designed for its users. Learn more at www.vylitworld.com.

FOR PRESS INQUIRIES
pr@vylitworld.com 

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CNBC Names PayJoy one of the World’s Top FinTech Companies of 2026

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Recognition highlights PayJoy’s leadership in emerging market consumer finance

SAN FRANCISCO, July 23, 2026 /PRNewswire/ — CNBC and Statista have named PayJoy to the “World’s Top Fintech Companies 2026,” which honors companies providing digital funding and bank-independent lending solutions for individuals and businesses. PayJoy is a leading financial services provider for underserved consumers across emerging markets.

Now in its fourth edition, the ranking identifies 500 leading companies across eight fintech market segments worldwide, including Payments, Neobanking, Wealth Technology, Digital Assets, Enterprise Fintech, Insurtech, Regtech, and Alternative Financing. Companies were evaluated using an aggregated scoring model built on both general and segment-specific KPIs, drawing on desk research from publicly available sources alongside company self-reports submitted through an open application process.

PayJoy’s inclusion reflects its work bringing credit access to the emerging middle class in Mexico, Colombia, Brazil, Panama, Peru, Ecuador, South Africa, the Philippines, and Indonesia, nine countries where traditional financial infrastructure has long excluded first-time borrowers.

“This recognition from CNBC and Statista is a meaningful validation of the work our team does every day,” said Doug Ricket, PayJoy CEO and Co-Founder. “Millions of people across the markets we serve are building credit for the first time through PayJoy. Being named among the world’s top fintech companies reflects the scale and impact of that work.”

For more information on the full ranking, visit https://www.cnbc.com/worlds-top-fintech-companies-2026/ 

About PayJoy
PayJoy expands credit access across emerging markets through point-of-sale financing and card offerings. Its proprietary secured-credit technology enables first-time borrowers to responsibly build financial stability and participate fully in the modern economy. Through its cutting-edge machine learning, data science, and anti-fraud AI, PayJoy has financed over $3.5 billion of loans to more than 20 million people and employs over 1,000 people worldwide. For more information, visit https://www.payjoy.com/ 

Contact
payjoy@thekeypr.com

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Youngstown Innovation Hub Breaks Ground at YBI’s 107 Building

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YOUNGSTOWN, Ohio, July 23, 2026 /PRNewswire/ — As the United States works to strengthen its aerospace and defense manufacturing base, the Youngstown Innovation Hub for Aerospace & Defense broke ground today on YBI‘s 107 Building in downtown Youngstown, positioning the region as a national proving ground for advanced and additive manufacturing. The Hub is managed by the National Center for Defense Manufacturing and Machining (NCDMM).

Youngstown Innovation Hub for Aerospace & Defense breaks ground at YBI’s 107 Building.

The Hub is one of four Innovation Hubs established across Ohio as part of a statewide initiative to strengthen innovation-driven economic growth. Once complete, it is projected to generate approximately $161.6 million in economic impact, create 450 new jobs, and produce 185 new STEM credential opportunities and 40 internship opportunities by 2029.

The groundbreaking comes as Ohio was recently ranked the No. 1 state for business in America by CNBC’s 2026 America’s Top States for Business rankings, up from No. 5 in 2025.

Ohio Lt. Governor Jim Tressel attended and delivered remarks at the ceremony.

“Today is about more than renovating a building. It’s about building opportunity for Ohioans,” said Lt. Governor Tressel. “The Mahoning Valley has always been defined by the people who make things, solve problems, and never stop working toward a better future. This Innovation Hub builds on that proud tradition while preparing the next generation for in-demand careers in manufacturing.”

Hub and YBI leadership also spoke at the ceremony.

“Today’s groundbreaking of the Youngstown Innovation Hub represents much more than the start of a building renovation. It reflects what can happen when state, regional, industry, academic, and community partners come together around a shared vision for the future of manufacturing, aerospace and defense innovation,” said Megan Malara, Ph.D., director of the Youngstown Innovation Hub.

The renovation is made possible in part by a $750,000 state capital investment. Ohio State Sen. Al Cutrona and state Rep. Lauren McNally were credited with helping advance the funding request through the legislative process. YBI also recognized the broader Lake to River legislative delegation, including state Reps. Nick Santucci, Tex Fischer, Monica Robb Blasdel, Dave Thomas, and Sarah Fowler Arthur, for their support, as well as U.S. Sens. Jon Husted and Bernie Moreno for their support of the project in the U.S. Senate.

Speakers at the ceremony included Ohio Lt. Gov. Jim Tressel; Lydia Mihalik, director of the Ohio Department of Development; Mary Mertz, director of the Ohio Department of Natural Resources; Julius Oliver, 1st Ward Councilman for the City of Youngstown; State Sen. Al Cutrona; State Rep. Nick Santucci; State Rep. Lauren McNally; and Megan Malara, Ph.D., director of the Youngstown Innovation Hub. Barb Ewing, CEO of YBI, served as master of ceremonies.

The City of Youngstown, which committed $1.35 million in local matching funds to the project, was represented at the ceremony. John Wilczynski, executive director of America Makes, attended, and Barb Ewing recognized Kimberly Gibson and Alexander Steeb of America Makes for their roles in advancing the project.

Upon completion, the five-story, 130,000-square-foot concrete-framed building will offer flexible space for offices, workspaces, and display areas, along with robust power capacity to support multiple high-demand tenants. The building’s security features, including limited access points and naturally separated manufacturing bays, are designed to meet U.S. Department of War contracting criteria, positioning tenants to compete directly for federal defense work.

“It’s great to finally be transitioning from talking about this project to actually working on it. We appreciate all the support we’ve had from our political leaders and the community. YBI is proud to be a part of the project team that’s changing the trajectory of the Mahoning Valley,” said Barb Ewing, CEO of YBI.

Companies looking to expand, relocate, or enter the aerospace and defense manufacturing sector are encouraged to visit the Youngstown Innovation Hub website at youngstownhub.us.

About the Youngstown Innovation Hub for Aerospace & Defense

Managed by the National Center for Defense Manufacturing and Machining (NCDMM), the Youngstown Innovation Hub is a national proving ground for advanced and additive manufacturing, strengthening U.S. aerospace and defense supply chains and workforce development. Learn more at youngstownhub.us.

About YBI

YBI is a globally recognized economic development nonprofit, advancing innovation and growth across Ohio and beyond. Through a flexible suite of high-quality entrepreneurial services and resources, YBI supports startups, small businesses, and manufacturers at every stage of development. For more information, visit ybi.org.

Media Contact:
Jessica Sprowl, Marketing and Communications Director, YBI
jsprowl@ybi.org

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