According to a research report "Digital Audio Workstation Market by Type (Recording, Editing, Mixing), End User (Professional/Audio Engineers and Mixers, Electronic Musicians, Music Studios), Component, Deployment Model, Operating Systems, and Region - Global Forecast to 2023" published by MarketsandMarkets, The digital audio workstation market size is expected to grow from USD 2.0 billion in 2018 to USD 3.1 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 9.2% during the forecast period. The key factors driving the digital audio workstation market include the growing focus on digitization of instruments and increasing adoption of cloud-based digital audio workstations in the music industry to enhance the music production process
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The services segment of the market is
anticipated to grow at a higher CAGR as compared to software segment during the
forecast period.
Implementation and consulting
services subsegment is estimated to grow at a higher as compared to the managed
services subsegment during the forecast period. This growth is expected to be
driven by the increased demand for digital audio workstations across the media
& entertainment and education industries. Services are an essential part of
the software deployment and execution lifecycle. Services, including
consulting, product support, updates, and maintenance, are required at various
stages, starting from pre-sales requirement assessment to post-sales product
deployment and execution, thus enabling the client to get better return on
investment (RoI).
The professionals/audio engineers and mixers
segment is expected to account for the largest market size during the forecast
period.
The digital audio workstation market
has been segmented based on type into editing, mixing, and recording. Audio
engineers set up and test sound equipment before events, broadcasts, and
recordings. Digital audio workstations help sound engineers produce music by
balancing and adjusting sound sources using equalization and audio effects
mixing, reproducing, and strengthening
the sounds. Sound engineers are professionals who use digital audio
workstations to record, edit, mix, and master music to improve sound quality
and add sound effects to recordings. These workstations enable sound engineers
to work with video editors and synchronize video with audio tracks.
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North
America to account for the largest market size during the forecast period
The global digital audio workstation market by region
covers five major regions: North America, Asia Pacific (APAC), Europe, Middle
East and Africa (EMEA), and Latin America. North America constitutes the
highest market share, owing to the early adoption of advanced technology
solutions as well as initiatives taken by vendors to reach the end user base.
The US and Canada are witnessing increased adoption of advanced technologies,
including Android and Linux operating systems.
Key
Digital Audio Workstation Market Players
Major vendors, such as Apple (US), Adobe (US), Avid (US),
Steinberg (Germany), Ableton (Germany), MOTU (US), Acoustica (US), Native
Instruments (Germany), MAGIX (Germany), Presonus (US), Cakewalk (US), Inage
Line Software (Belgium), Bitwig (Germany), Renoise (Germany), and Harrison
Consoles (US). The study includes in-depth competitive analysis of these key
players in the global market with their company profiles, recent developments,
and key market strategies.
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