Product Code: 70762
The Digital Audio Workstation Market is expected to register a CAGR of 8.1% over the forecast period (2021 - 2026).
Over the past few decades, digital audio workstations have made tremendous progress. In today's entertainment industry, digital audio workstations are used in almost both audio and video processing systems. Digital audio workstation meshwork consists of software and hardware components for recording, editing, mixing, and producing audio files. These are exclusively crafted out of silicon carbide or gallium nitride to maintain sound integrity and avoid resonance effects.
- There is a higher adoption of various digital audio workstations due to the technological enhancements in the field of R&D by manufacturers in the market and in the entertainment and media sectors to enhance the customer experience. In addition, various key players use music production software widely known as digital audio workstations for musical composition, musical applications, digital recording, and electronic music.
- Moreover, due to the growing number of ongoing live performances and several DJ professionals worldwide, the market is expected to grow. In addition, highly skilled personnel are focusing on up-gradation and innovation of existing devices to release a new product in the market to support market growth.
- Further, frequently changing requirements by emerging enterprises and high adoption of these devices to store vital data, and the ability to store huge volumes of data more than conventional servers are anticipated to drive the market's growth. However, the lack of trained and highly skilled persons in this industry is expected to hamper the growth of the global digital audio workstations market.
- In this sense, COVID-19 has not only caused a tragic disruption of the music school curriculum but rather an important and overdue opportunity to transform teaching and learning music recording and production for a modern world that needs flexibility over all else. This has been in an increasing demand for digital audio workstations.
Key Market Trends
MAC Operating System to Witness Significant Growth
- MAC operating system is also expected to witness growth over the projected time frame due to its increasing application in different end-use sectors. The MAC segment is also speculated to register healthy growth and expansion. Increasing the adoption of Mac services in recording and editing digital audio files is expected to propel the demand for the OS over the forecast period.
- Mac provides a better collective solution for numerous users, given its excellent build quality and stability. Mac also offers enhanced solutions to various consumers due to its excellent design structure, which in turn is expected to drive the growth of the MAC segment in the market. Softwares such as FL Studio can be used for MAC OS. It is one of the best DAW software for MAC. For a beginner starting journey in music-making, considering FL Studio is better.
- Ableton Live is also one of the best music production software for MAC which is great for both live performances and studio work. It has dual views, which makes it possible to work in the studio and, at the same time, have live performances. Its session view works perfectly with grid-based hardware controllers and has great design and user interface, with clean and sleek graphics.
- Garageband has an intuitive user interface support for MAC, providing a music creation software for novices. With the built-in percussion, synthesizers, and keyboard, one can make music. One can also visualize the composition before modifying it down to the note and decibel level through music loops, music courses, and other tools.
- Similarly, Studio One has gained immense popularity and is counted as one of the best DAW for MAC. This piece of software is a complete DAW and is a good one for the professionals. It enhances the composing work and comes with different features made to ease the composting process, like automatic MIDI chord shifting or printing out scores, etc.
North Americais Expected to Witness Significant Growth
- North America region is the biggest contributor to the digital audio workstations market. Owing to the increased use of digitization in music, the digital audio workstation market is poised to grow at a blistering pace in this region.
- Owing to the early adoption of advanced technology solutions as well as initiatives taken by vendors to reach the end-user base, countries such as the United States and Canada are witnessing increased adoption of advanced technologies, including Android and Linux operating systems.
- Recently, Panasonic and Klipsch, a tech-driven audio company, also announced an exclusive collaboration to deliver the revered "Klipsch Sound" and audiophile-quality performances to the in-vehicle experience at the CES trade show in Las Vegas.
- The National Association of Music Merchants is a group of companies that provide music software in North America. It provides developers with a once-in-a-lifetime opportunity to meet with an international buying audience in an enclosed calm setting conducive to learning and experiencing high-quality demonstrations. In addition, the cost of exhibiting is significantly lower than a traditional exhibition with demo areas the size of the local library study table. It is particularly an attractive opportunity for any brand that wants to strengthen its standing or break into the market.
- Further, OVox is a voice-controlled synth and vocal effects processor that features vocal morphing, harmonizing, arpeggiating, and pitch-shifting, among its numerous effects. In addition, six other common products, including auto-pan, chorus, comp, delay, distortion, reverb, and an eight-voice synth, allowing one even more creative freedom to boost the Digital Audio Workstation market in the region.
The market is moving towards a highly competitive trend due to many players competing among themselves and are also investing huge amounts in R&D for developing better, reliable workstations. The major companies include Apple Inc., Adobe Inc., Acoustica Inc., among others. Therefore, the market concentration will be low.
- May 2020 - Apple unveiled a major update to Logic Pro X with a professional version of Live Loops, a completely redesigned sampling workflow, and new beat-making tools. With its collection of powerful creative features, Logic Pro X 10.5 will be a massive release for all musicians, including those producing electronic music. In addition, Apple Inc. introduced the advanced version of DAW software to meet the capabilities of Mac Pro.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
TABLE OF CONTENTS
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET INSIGHTS
- 4.1 Market Overview
- 4.2 Industry Attractiveness - Porter's Five Forces Analysis
- 4.2.1 Bargaining Power of Suppliers
- 4.2.2 Bargaining Power of Consumers
- 4.2.3 Threat of New Entrants
- 4.2.4 Threat of Substitutes
- 4.2.5 Intensity of Competitive Rivalry
- 4.3 Industry Value Chain Analysis
- 4.4 Assessment of Impact of COVID-19 on the Industry
5 MARKET DYNAMICS
- 5.1 Market Drivers
- 5.1.1 Rise in Demand for High Definition Video and Audio
- 5.1.2 Increased Use of Technology in Audio and Video Making
- 5.2 Market Challenges
- 5.2.1 Slowdown in Internet Penetration Rates in Underdeveloped or Emerging Economies
- 5.2.2 Costs Involved in Acquiring the Software and Macroeconomic Situations
6 MARKET SEGMENTATION
- 6.1 Segmentation - By Operating System
- 6.1.1 Mac
- 6.1.2 Windows
- 6.1.3 Other Operating Systems
- 6.2 Segmentation - By End User
- 6.2.1 Professional/Audio Engineers and Mixers
- 6.2.2 Electronic Musicians
- 6.2.3 Music Studios
- 6.2.4 Music Schools
- 6.2.5 Other End Users
- 6.3 Segmentation - By Geography
- 6.3.1 North America
- 6.3.2 Europe
- 6.3.3 Asia-Pacific
- 6.3.4 Latin America
- 6.3.5 Middle East & Africa
7 COMPETITIVE INTELLIGENCE- KEY COMPANY PROFILES*
- 7.1 Apple Inc.
- 7.2 Adobe Inc.
- 7.3 Steinberg Media Technologies GmbH
- 7.4 Avid Technology Inc.
- 7.5 Native Instruments GmbH
- 7.6 MAGIX Software GmbH
- 7.7 PreSonus Audio Electronics Inc.
- 7.8 Harrison Consoles Inc.
- 7.9 Cakewalk Inc. (bandLab Technologies)
8 INVESTMENT ANALYSIS
9 FUTURE OF THE MARKET