Pune, India, Aug. 23, 2022 (GLOBE NEWSWIRE) -- The global digital audio workstation market size was valued at USD 2.49 billion in 2021. The market is projected to grow from USD 2.70 billion in 2022 to USD 4.95 billion by 2029, exhibiting a CAGR of 9.0% during the forecast period. This information is provided by Fortune Business Insights, in its report, titled, “Digital Audio Workstation Market Forecast, 2022-2029.”
Key Industry Development:
March 2022 - Social music creation platform BandLab has unveiled SongStarter in partnership with Google. It is an artificial intelligence refined tool that generates melodies, unique beats, and chord progressions based on user suggestions.
Get Sample PDF Brochure: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/digital-audio-workstation-market-100150
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2022 to 2029 |
| Forecast Period 2022 to 2029 CAGR | 9% |
| 2029 Value Projection | USD 4.95 Billion |
| Base Year | 2021 |
| Digital Audio Workstation Size in 2021 | USD 2.49 Billion |
| Historical Data for | 2018 to 2020 |
| No. of Pages | 140 |
| Segments covered | Component, OS Compatibility, Deployment, End-user and Geography |
| Digital Audio Workstation Market Growth Drivers | Increasing Fondness of Podcast among Listeners to Impel Market |
| North America to Lead Stoked by Augmented Key Businesses | |
| Growing Emphasis on Customer Retention to Spur Market Development |
Advent of OTT Platforms Led to Surge in Implementation of Digital Audio Workstations
The commotion owing to the COVID-19 pandemic has augmented the demand for digital media. As per the Global Web Index (GWI), the global internet penetration was approximately 59% of the worldwide population during the pandemic. Despite the surging streaming content, utilization of audiobooks, podcasts, and news displayed a sturdy rise among customers. This generated a prospect for audio professionals who utilized DAWs for editing, mixing, recording as well as master music to refine sound quality and add surplus sound enhancements to digital audio files.
Click here to get the short-term and long-term impact of COVID-19 on this Market:
https://www.fortunebusinessinsights.com/industry-reports/digital-audio-workstation-market-100150
Drivers and Restraints:
Increasing Fondness of Podcast among Listeners to Impel Market
Augmenting audio media consumption through podcasts among listeners is substantially rising on a day to day basis. Digital audio workstation offers refined tools, which empower users to edit and record their podcasts. Backed by this, podcasters utilize DAW to edit all the awkward pauses out of the podcast they record, trim it to perfection, and then put on a slight compressor and reverb to produce a modified version of their digital audio records.
Segments:
Rising Acceptance of Intelligent Tools to Navigate Digital Audio Workstation Software Demand
Based on component, the market is segmented into software and services.
The software segment holds the largest revenue share, and it is anticipated to grow at the highest CAGR during the forecast period due to its expanded solution offerings such as audio recording and editing solutions, MIDI editing, mixing, and mastering, and others.
Expanded Surge in Implementation of Cloud-based DAW Solutions to Fuel Market
Based on deployment, the market is bifurcated into cloud and on-premise.
Cloud is projected to attain concentrated segment share during the forecast period. The fast tracking usage of cloud-based solutions is probable to surge the product demand.
Growing Emphasis on Customer Retention to Spur Market Development
Based on OS compatibility, the market is categorized into Apple OS, Windows, Android, and Linux. Windows segment is estimated to attain largest revenue share in the OS compatibility segment owing to the astoundingly increasing customer base.
Growing Concentration on Customer Retention to Thrive Market Growth
Based on end-user, the market is categorized into commercial and individual.
Commercial segment held the major market share in 2021 of around 62.4% and it is expected to be the quickest growing segment in the impending years.
Geographically, the market is divided into five key regions such as North America, Europe, Asia Pacific, the Middle East & Africa, and South America. They are further categorized into countries.
Have Any Query? Ask Our Experts: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/digital-audio-workstation-market-100150
Report Coverage:
The market report highlights leading regions across the world to offer a better understanding of the user. Furthermore, the report provides insights into the latest industry trends and analyzes technologies deployed at a rapid pace at the global level. The report examines various paradigm shifts associated with the transformation of software. It further highlights some of the growth-stimulating factors and restraints, helping the reader gain in-depth knowledge about the market.
Regional Insights:
North America to Lead Stoked by Augmented Key Businesses
North America to attain the maximum digital audio workstation market share during the forecast period. The region is accommodating indispensable businesses across all industries and expansively using the workstation software.
Europe perceived notable CAGR during the forecast period owing to the rising rate of audio consumption. With thriving countries, such as Germany, the U.K., France, Italy, and others, the digital audio workstation market growth potential is expansive in the region.
Asia Pacific has considerably bolstered the adoption of progressive technologies, podcast and audiobooks listeners, and more. The consistently increasing customer base for audio content in the region is probable to increase the demand for DAW tools.
Competitive Landscape:
Innovative Product Launch Announcement by Key Players to Bolster Market Growth
The prominent players adopt several strategies to bolster their position in the market as leading companies. One such key strategy is acquiring companies to bolster the brand value among users. Another essential strategy is periodically launching innovative products with a detailed study of the market and its target audience.
Major Players Profiled 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)
Quick Buy - Digital Audio Workstation Market Research Report:
https://www.fortunebusinessinsights.com/checkout-page/100150
Major Table of Contents:
- Global Digital Audio Workstation Market Size Estimates and Forecasts, By Segments, 2018-2029
- Key Findings
- By Component (USD)
- Software
- Recording and Sequencing Software
- Plug-in Software
- Others (Sampling Software, Education Software)
- Services
- Software
- By OS Compatibility (USD)
- Apple OS
- Windows
- Android
- Linux
- By Deployment (USD)
- On-premise
- Cloud
- By End User (USD)
- Commercial
- Individual
- By Region (USD)
- North America
- South America
- Europe
- Middle East & Africa
- Asia Pacific
- North America Digital Audio Workstation Market Size Estimates and Forecasts, By Segments, 2018-2029
- Key Findings
- By Component (USD)
- Software
- Recording and Sequencing Software
- Plug-in Software
- Others (Sampling Software, Education Software)
- Services
- Software
- By OS Compatibility (USD)
- Apple OS
- Windows
- Android
- Linux
- By Deployment (USD)
- On-premise
- Cloud
- By End User (USD)
- Commercial
- Individual
- By Country (USD)
- United States
- Canada
- Mexico
- South America Digital Audio Workstation Market Size Estimates and Forecasts, By Segments, 2018-2029
- Key Findings
- By Component (USD)
- Software
- Recording and Sequencing Software
- Plug-in Software
- Others (Sampling Software, Education Software)
- Services
- Software
- By OS Compatibility (USD)
- Apple OS
- Windows
- Android
- Linux
- By Deployment (USD)
- On-premise
- Cloud
- By End User (USD)
- Commercial
- Individual
- By Country (USD)
- Brazil
- Argentina
- Rest of South America
Frequently Asked Questions:
What is the size of digital audio workstation market?
The global digital audio workstation market was valued at US$ 2.49 billion in 2021
How fast is digital audio workstation market growing?
The digital audio workstation industry will exhibit a CAGR of 9% during the forecast period, 2022-2029
What will be the worth of digital audio workstation market in 2029?
The global digital audio workstation industry will be worth US$ 4.95 billion in 2029
About Us:
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Contact Us:
Fortune Business Insights™ Pvt. Ltd.
US: +1 424 253 0390
UK: +44 2071 939123
APAC: +91 744 740 1245
Email: sales@fortunebusinessinsights.com
