Global Digital Audio Workstation Market is Estimated to Value Over USD 12 Billion by 2026 End

  • 17 Jul 2019

Global Digital Audio Workstation Market is estimated to value over USD 12 billion by 2026 end and grow at a CAGR of over 7.5% during the forecast period 2019 to 2026.

Digital audio workstation is a form of electronic devices or networks aided by technological advancements, which has made audio processing much simpler. These networks are utilized for recording, editing, and playing back purposes in digital audio files The vast entertainment sector widely employ digital audio services and this thus fuels the global demand for the global digital audio workstation services and market. The software which helps in music production purposes is also known as a digital audio workshop (DAW) and is a widely used software for digital recording, musical composition, creating electronic music, and other musical applications.

The major growth drivers of the digital audio workstations market include a rise in demand for high definition video and audio, growing demand and application in the entertainment industry, technological improvements in audio and video making, a rise in demand for high production capacity using less equipment and more efficiency. To further elucidate, an increase in adoption in this technology from radio producers will drive the growth of digital audio workstations market.

The increased efficiency in work, as well as the reduced cost, makes the market readily accept and adopt these services. The software is easy to operate and with the availability of tutorials online for the same, help promote the growth of the market. Incentives and more awareness to employ the software are foreseen to aid the market's overall growth. 

Drawn by the steady growth of this market, numerous enterprises are driven to invest in the market for digital audio workstation software and services. Advancements in technology have aided product innovation and refined research is continuing in the digital audio workstations market. For instance, in 2014, Acoustica, Inc. released Mixcraft 7 and Mixcraft Pro Studio 7, after 2 years of research and development and thus increased the reach of this market worldwide. Thus constant improvements support to expand the market and increase consumer base. 

Digital Audio Workstation Market: Segmentation

By Type 
 •    Recording
 •    Editing
 •    Mixing

By Component
•    Software
•    Services
•    Managed Services

The services segment is anticipated to grow at a higher CAGR during the forecast period.
Services are an essential part of the software deployment and execution lifecycle. 

By Deployment Model
•    Cloud
•    On-premise
•    Operating System
•    Android
•    MAC
•    Linux
The cloud is one of the most favoured segments of digital audio workstations and is evolving steadily due to the increasing number of users in different end-use industries. It is expected to grow at the highest CAGR during the forecast period. 

By End User 
•    Professional/Audio Engineers and Mixers
•    Electronic Musicians
•    Music Studios 
The professional sector widely utilizes DAWs software and services to record, edit and produce digital audio music files and thus will promote the market globally.

By Region:
•    Europe 
•    North America 
•    APAC 
•    Latin America
•    Rest of World
North America and Asia Pacific (APAC) hold the largest market share for Digital audio workstations market due to increasing demand from the entertainment industry. Europe is the fastest growing market due to the increase in demand for high audio quality. 

Competitive Landscape: 
 •    Tier 1 players- established companies in the market with a major market share 
 •    Tier 2 players
 •    Emerging players which are growing rapidly
 •    New Entrants  
Firms holding a significant share in this market are Apple (US), Adobe (US), Avid (US), Ableton (Germany), Steinberg (Germany), MOTU (US), Acoustica (US), Presonus (US), Magix (Germany).

FutureWise Takeaways 
 •    Growth prospects 
 •    SWOT analysis
 •    Key trends
 •    Key data points affecting market growth 

Objectives of the Study:
 •    To provide an exhaustive analysis on Global Digital Audio Workstation Market by type, by component, by deployment model, by end user and by Region
  •    To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
  •    To evaluate and forecast micro-markets and the overall market 
  •    To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America, and the Middle East.
 •    To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
 •    Profiling of companies to evaluate their market shares, strategies, financials and core competencies 

 

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