Electronic Dance Music (EDM) Market Size, Share, Growth, And Industry Analysis By Type (Pop, Soundtrack, Hip-Hop, Classical, And R&B) By Application (Health Sector And Home Automation) Regional Forecast To 2031

Updated On: 01 April 2024

Electronic Dance Music (EDM) Market Report Overview

• 

• Request a Free Sample to learn more about this report

global electronic dance music (edm) market size was USD  8230.0 million in 2021 and market is projected to touch USD 17574 Million By 2031, exhibiting a CAGR of 7.88% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with electronic dance music (EDM) market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels.

Songs produced electronically are compiled into electronic dance music (EDM). EDM, or electronic dance music, is frequently referred to as dance music, club music, or simply music. These electronic dance music (EDM) tracks were created especially for parties, festivals, and nightclubs. It is a type of music designed specifically for dance enthusiasts. Several other genres fall under the umbrella of electronic dance music (EDM), such as synthpop, techno, trance, house, dubstep, hardstyle, drum and bass, and others. DJs create EDM by combining several recordings, either their own or others, especially.

The popularity of dance music among people is among the numerous elements contributing extensively to the electronic dance music (EDM) market growth. The sector's growth has also been fueled by the increasing number of festivals taking place worldwide. The huge success of online video-sharing sites like YouTube contributes to the explosive expansion of the market for electronic dance music (EDM).

COVID-19 Impact: Halt In Festivals Hampers Market Growth

Similar to other marketplaces around the world, the effect of COVID-19 on the market for electronic dance music (EDM) is noticeable. The repercussions of the COVID-19 pandemic were more severe for the numerous industries in the market. As a result of the pandemic, strict lockdown regulations were put in place, forcing organizations and businesses to close their doors temporarily. Due to a shortage of public events during the pandemic, the market for electronic dance music (EDM) suffered. The ban on public gatherings implemented to stop the virus from spreading further significantly negatively impacted the market for electronic dance music (EDM).

Latest Trends

"Increasing Use Of Social Media Exacerbates Market Expansion"

The increased use of social media to promote the newest entries in the market for electronic dance music (EDM) has significantly developed that genre of music. The existence of social media and its users has led to the publication of new songs and albums, as well as teasers, trailers, and commercials for various seasonal festivals. Wearable technologies that assist DJs in controlling the music, dropping the beat, and other activities could also be advantageous for the market. The stage lighting can be adjusted to match the song's atmosphere and increase enthusiasm among the audience members by using the gesture mode built into these wearable devices, which are available to end users.

Electronic Dance Music (EDM) Market Segmentation

• 

• Request a Free Sample to learn more about this report

• By Type Analysis

According to type, the market can be segmented into pop, soundtrack, hip-hop, classical, and R&B. Pop segment is contemplated to dominate the market during forecasted market years.

• By Application Analysis

Based on application, the market can be divided into health sector and home automation. Health sector is anticipated to lead the market during forecast period 2023-2031.

Driving Factors

"Benefits Of Music Drives The Product Demand"

One of the key elements driving the industry is the use of electronic dance music (EDM) for mood-lifting purposes. Music has the power to improve your depressed mood. Due to the beat of the EDM being able to help you recall the wonderful times you've had in the past and the ones you're having now, the popular market for electronic dance music (EDM) is being propelled. Since dopamine makes people feel people feel good, EDM has the ability to increase dopamine levels in the brain as a result of the anticipation of the beat drop. Since dopamine helps people feel good, the music helps elevate their spirits, directly contributing to the success of the electronic dance music (EDM) market. Additionally, this music improves your concentration and makes workouts more effective.

"Increasing Number Of Festivals And Clubs Proliferates Market Requirement"

The consistent demand of the market for electronic dance music (EDM) is being significantly augmented by the rise in the number of festivals hosted worldwide. The market for electronic dance music (EDM) is crowded with many important players due to this music genre's enormous appeal, fostering market expansion. The craze for festivals, as well as the need to maintain the spirit of festivities and the feel-good gathering of friends and family, is driven by EDM's benefits for mental health.

Restraining Factors

"High Cost Of Production Causes Hindrance In Market Hike"

Due to the high cost of the software used to create electronic dance music, the market for EDM is experiencing a barrier (EDM). Many prospective artists find it challenging to launch a successful career due to how expensive the software is. Some unfavorable consequences that electronic music has are another factor harming the market for electronic dance music (EDM). Some claim that the volume of electronic dance music causes them to experience increased panic and anxiety (EDM).

Electronic Dance Music (EDM) Market Regional Insights

• 

• Request a Free Sample to learn more about this report

"North America Pioneers The Market Due To Festivals"

Since more festivals are being organized across North America, and due to the United States hosting the biggest festivals that draw huge crowds, the market for electronic dance music (EDM) is steadily expanding in the region. Due to the youthful population's interest in attending raves and parties that include dancing, electronic dance music has become one of the most popular types of music in the area. Due to these characteristics, the North American region currently controls the majority of the electronic dance music (EDM) market shares.

Due to its role in popularizing the electronic dance music genre, Europe is closely competing with other markets. Most of the DJs who contributed to the global success of dance music were produced in the European region, which is also to credit. The market's expansion has been exacerbated by the fact that there are still few significant events centered around electronic dance music (EDM) in Europe. The market has benefited greatly from the presence of the bulk of main firms in the area.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• Charlotte de Witte (Belgium)
• Amelie Lens (Belgium)
• Nina Kraviz (Russia)
• Calvin Harris (Scotland)
• The Chainsmokers (U.S.)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors such as segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.