Pune,India, May 02, 2023 (GLOBE NEWSWIRE) -- According to Fortune Business Insights, the global Digital Audio Workstation Market size was valued at USD 2.71 billion in 2022 and is projected to grow from USD 2.95 billion in 2023 to USD 5.41 billion by 2030, exhibiting a CAGR of 9.1% during the forecast period.
The rise is on account of the increasing product adoption for editing, creating, and recording digital audio files. Fortune Business Insights™ cites this information in its research report, titled “Digital Audio Workstation Market Forecast 2023-2030”.
Key Industry Development-
Avid improved its pro tools software via the launch of its 2022.4 version. The advancement delivered a range of enhancements and features. These included Dolby Atmos improvements, video color space improvements, custom keyboard shortcuts, and pro tools search.
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Key Takeaways-
- Digital Audio Workstation Market is expected to flourish & reach USD 5.41 Billion in 2030
- The industry is anticipated to grow in the upcoming years due to audio professionals' usage of digital audio workstations.
- The proliferation of free DAW options is predicted to impede market expansion.
- Throughout the forecast period, the individual segment is anticipated to grow at a CAGR that is stagnant.
- Digital Audio Workstation Market Size in North America was USD 0.94 Billion 2022
Discover the Leading Players Featured in the Report-
Apple Inc. (U.S.), Avid Technology, Inc. (U.S.), Yamaha Corporation (Japan), Adobe (U.S.)
Ableton (Germany), Bitwig GmbH (Germany), BandLab Technologies (Singapore), Dirac Research AB (Sweden), PreSonus Audio Electronics, Inc. (U.S.), Native Instruments GmbH (Germany)
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 9.1% |
| 2030 Value Projection | USD 5.41 Billion |
| Base Year | 2022 |
| Digital Audio Workstation Market Size in 2022 | USD 2.71 Billion |
| Historical Data for | 2019 to 2021 |
| No. of Pages | 140 |
| Segments covered | Component, OS Compatibility, Deployment, End-User |
Browse Complete Report Details- https://www.fortunebusinessinsights.com/industry-reports/digital-audio-workstation-market-100150
Drivers and Restraints-
Market Value to Rise Owing to Increasing Popularity of Podcasts
The digital audio workstation market growth is being impelled by the increasing consumption of audio media. The technology provides users to record and edit their podcasts.
However, some companies offer free solutions, which are expected to affect the revenues of market players who offer subscription and license-based services. This may hamper market expansion to a considerable extent.
Leading Segments Covered in this Report-
By Component
- Software
- Recording and Sequencing Software
- Plug-in Software
- Others (Sampling Software, Education Software)
- Services
By OS Compatibility
- Apple OS
- Windows
- Android
- Linux
By Deployment
- On-premise
- Cloud
By End-user
- Commercial
- Individual
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FAQs
How big is the Digital Audio Workstation Market?
Digital Audio Workstation Market size was USD 2.71 Billion in 2022. It is expected to reach USD 5.41 Billion by 2030.
How fast is the Digital Audio Workstation Market growing?
The Digital Audio Workstation Market will exhibit a CAGR of 9.1% during the forecast period, 2023-2030
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