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The music production software market size is estimated to grow at a CAGR of 7.47% between 2022 and 2027. The market size is forecast to increase by USD 333.24 million. The growth of the market depends on several factors, including the rising number of musicians and artists, the growing demand for digital audio content, and the increasing adoption of DJ software to produce music. Music production software is also called a digital audio workstation (DAW). This software is used by musicians, artists, disc jockeys (DJs), and music production companies to perform multiple functions such as composing, recording, editing, mixing, and mastering to produce music.
This music production software market report extensively covers market segmentation by type (editing, mixing, and recording), end-user (professionals and non-professionals), and geography (North America, Europe, APAC, South America, and the Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The rising number of musicians and artists is driving growth in the music production software market. The increasing number of musicians and artists in the world, the global market for music production software has grown at a fast pace. The emergence of upcoming musicians and artists has changed the era of music. They create and present new tracks as well as mix songs in order to produce remixes. To grab the attention of fans, musicians are also organizing music events through concert promoters or live event organizers.
Moreover, musicians and artists are increasingly adopting music production software to enhance the quality of their music. Major vendors on the market are releasing new and improved versions of music production software with a view to exploiting this trend. Therefore, the rising number of live events is expected to accelerate the demand for music production software during the forecast period.
The rising popularity of online video streaming services is a primary trend in the music production software market. One of the fastest-growing sectors within the film and entertainment industry is online video streaming. Video streaming service providers allow users to access and watch different types of video content, such as movies and TV series, via the Internet, without the need to download files. These service providers are able to provide both premium and free services.
However, as a part of premium services, vendors of video streaming services charge a subscription fee to users to access their full catalogs of movies and other special features, such as no advertisements, playlist customization, and personalized recommendations. For a specific trial period, nearly all video streaming service providers provide the possibility to subscribe at no cost. It is expected to accelerate the growth of the global music production software market during the forecast period.
The requirement of skillset to use music production software is a major challenge faced in the market. The main use of music production software is in the field of musicians, artists, and recording companies. Music production is a complex and time-consuming process, and hence, the software plays a crucial role in creating music in digital form. However, music producers, such as musicians, artists, and music production companies, should have complete knowledge of the software and require certain skills while using music production software.
However, most music producers lack skills in operating or using music production software. The knowledge and experience in the use of the software are available to professionals like DJs and music production companies. Therefore, the lack of knowledge and skills among non-professionals about music production software is restricting vendors from realizing the full potential of the global music production software market.
The market share growth by the editing segment will be significant during the forecast period. Music editing is a process of altering the time and speed of pitches of music to create the required form. Currently, mostly, music editing software is preferred by professionals like musicians or music production companies because it eases the problems that might arise when they edit a song.
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The editing segments show a gradual increase in the market share of USD 237.69 million in 2017 and continue to grow by 2021. Music production software incorporates various filters such as bandpass filters, equalization (EQ) filters, and high shelf filters to clean the audio by removing noise. It also incorporates non-linear editing (NLE) system for editing audio and video content. The NLE is mainly used by film production companies to edit video and sound content because it does not require a lot of processing time. As a result, during the forecast period, the market in focus is expected to grow.
Music mixing is the process of mixing multiple sounds in a single file. During music mixing, various processes, such as music voice level, frequency, and panoramic positions of videos, are manipulated. Once the music has been recorded, this process is usually carried out. Users will be using virtual instruments like plugins, sequencers, equalizers, and boom drum machines for mixing music. In addition, as a way of adding echo and space to the music while it is being mixed, the software also includes reverb and delay functions. Music production software incorporates various effects, sound processors, and filters such as bandpass filters and EQ filters to remove the noise while mixing music. It is anticipated that the increasing demand for DJs will have a positive impact on the demand for global music production software for the segment during the forecast period.
The professionals segment includes end-users such as musicians, DJs, and music production companies. They have complete knowledge of music production software and use it for composing, recording, editing, mixing, and mastering music. The film industry specifically employs professionals to produce music and audio and video content for films. The film industry around the world is in a strong growth phase. Film producers have been aggressive in creating and producing new content that has better audio and video quality so as to gain market share and increase their revenue. Also, they are launching movies in 3D and 4D formats, so these movie producers are profound to include music and audio effects. To provide high-quality sound effects, film producers are increasingly utilizing music production software. One of the major reasons for the rising demand for music production software is the increasing number of musicians and artists. A growing number of music albums are being released as a result of the growing popularity of music streaming services among people.
Non-professionals refer to individuals that use music production software to create music for non-commercial purposes. Many of these non-professionals use the software for basic editing of music for events in their institutions and even at a corporate level. Digital marketing influencers and content creators are spending to create quality audio and video content so that they can gain more subscribers. They are increasingly using music production software to compose, record, edit, mix, and master the music of audio and video content before posting them on social media platforms. Music production software providers are offering mobile-based music production software for such users.
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North America is estimated to contribute 36% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The music production software market in North America is growing at a significant pace, owing to the increasing adoption of music production software, especially by professionals such as musicians and music production companies. The entry of new musicians and artists has made the global music production software market more competitive. As it is one of their main sources of income, musicians, and artists are increasingly focusing on the production of new albums in order to be able to take a leading position in the music industry. Hence, to gain a competitive edge, music artists are implementing music production software to become more innovative and creative with their albums. Such factors will increase the market growth in this region during the forecast period.
In 2020, the COVID-19 pandemic severely impacted most North American countries, such as the US, Canada, and Mexico, which resulted in a temporary halt in the different activities in the entertainment industry, including the closure of music recording studios. However, the lockdowns imposed increased the demand for home entertainment in the region. Some music streaming vendors increased their presence in the region in 2020. Since 2021, the launch of large-scale vaccination campaigns for COVID-19, activities relating to music recording, and others have recovered as regional economic activity has picked up. This trend is expected to continue, which will fuel the growth of the market during the forecast period
The music production software market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Music Production Software Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Ableton AG - The company offers Live 10 which is a music production software with three versions, including Intro, Standard, and Suite.
Acon AS - The company offers music production software such as Acoustica, audiolava, and Acon digital mastering suite.
Acoustica Inc. - The company offers music production software such as Mixcraft Remote, and Mixcraft 10
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The music production software market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
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Music Production Software Market Scope |
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Report Coverage |
Details |
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Page number |
160 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 7.47% |
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Market growth 2023-2027 |
USD 333.24 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
6.66 |
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Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
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Performing market contribution |
North America at 36% |
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Key countries |
US, Canada, China, Japan, and the UK |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Ableton AG, Acon AS, Acoustica Inc., Adobe Inc., Apple Inc., Avid Technology Inc., Bitwig GmbH, Cockos Inc., GoldWave Inc., Image Line Software NV, iZotope Inc., MAGIX Software GmbH, MakeMusic Inc., MOTU Inc., MuTools, NCH SOFTWARE Pty Ltd., PreSonus Audio Electronics Inc., Reason Studios AB, Serato Ltd., and Yamaha Corp. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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