Industry Insights

With NAMM being the largest music trade association and The NAMM Show being the only global gathering of our industry, it’s essential that we understand our global markets to evolve and lead the industry into the future. In the fall of 2024, NAMM’s leadership traveled to various countries to collect input from industry leaders and gain valuable insights to help guide the music trade. In this report, you’ll learn:

• 7 forces affecting the global markets to varying degrees
• Global themes revealing common successes and challenges across regions
• Perspectives from a diverse subset of retailers, distributors, manufacturers and association partners across Europe, Latin America, China and Japan

It is important to note that this report is purely anecdotal and does not represent any official view or stance of NAMM. While based on many corroborated conversations with knowledgeable global industry leaders, and reviewed carefully by trusted industry sources, the information presented is based on our perspective and learnings.

The report is available to all NAMM members. Nonmembers who would like a copy may inquire by emailing research@namm.org or calling 800-767-6266.

As your association, we know that you need reliable data and insights to discover and leverage new opportunities for your business. With more than 120 countries and regions attending The NAMM Show, a global perspective of our industry is an ever-increasing need. This 2024 Global Report provides a detailed look at economic, demographic and sales data for 32 countries, helping NAMM member companies discern industry trends, understand the global landscape and spot new opportunities. 

In the 2024 report, you’ll get access to:

• Retail sales figures, unit sales information, analysis and import/export numbers for musical instruments and products for 32 countries
• A breakdown of U.S. retail sales, including fretted products and effects, piano/organ, electronic music, pro audio, school music, general accessory and more
• Music industry analysis, including recent economic impacts 

The 2024 Global Report is available to the authorized contact of an active NAMM member company. Nonmembers may purchase the report for $1,000 by emailing  research@namm.org or calling 800-767-6266.

Our music products industry is at a crossroads of recovery and innovation, and in these historic times, it is more important than ever to seek outside perspective on what NAMM members should be doing in their businesses to be successful in the years ahead.

To gain this perspective, NAMM commissioned Forrester® research to complete this Opportunity Snapshot Study to learn what organizations within the music products industry are doing in terms of leveraging data and generative AI (genAI) to improve their customer experience strategies. The survey group included NAMM retailers, manufacturers, and distributors, as well as an equal number of companies outside our industry. The study provides several key takeaways, including:

• The companies surveyed feel confident that their organizations provide personalized customer experiences, but admit they aren’t as confident in their ability to use data to predict and adapt to changes in customer behavior.
• The data most valuable in predicting customer behaviors is not being collected at the necessary levels.
• The music products industry is behind other industries in the collection of valuable data and use of genAI.

With this study, NAMM seeks to rally our industry to modernize its data and genAI strategies so that member companies can continue to engage customers effectively throughout their lifelong musical journeys.

When The NAMM Show gathers over 60,000 people from 125 countries, we learn a lot about the connections that strengthen our industry. From the products launched, the companies exhibiting, and the people attending, we have a week to gather valuable on-the-ground intelligence about the music products industry. In the 2024 NAMM Post Show Report, you’ll learn:

• Trends and future outlooks for the music products industry
• Attendee demographics, including role types and regions represented 
• Key insights on popular education sessions, media coverage produced, The NAMM Show+ app usage, audience networking data and more

The report is presented in three sections: “What We Saw,” “What We Learned” and “What’s Next,” each showcasing findings from a collection of sources. By analyzing our registration data, education session attendance, post-show surveys, product launches and media coverage, we can present a picture of what is trending in our industry and what the year ahead of us may hold.

The report is available to all NAMM members and NAMM Show attendees. Nonmembers who would like a copy may inquire by emailing research@namm.org or calling 800-767-6266.