Digital Audio Workstation Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2021 To 2029

Evolution of Technology Application in Music Industry to Bolster the Demand for Digital Audio Workstation

Digital audio workstation accounted for the market value of US$ 15.14 Bn in 2020 and expected to grow with a promising CAGR of 7.8% across the forecast period from 2021 to 2029. As computer's capabilities evolved, the ability to perform the necessary amount of data storage and transfer to allow real-time data acquisition made them an attractive platform for the recording and mixing of sound and music. The traditional method to record, edit, and playback sound files were on stereo systems. However, with advancements in technology it has become possible to record multiple channels of audio at reasonable sample rates and to store, process, mix, and playback more complicated sessions. The low cost of small computers and the ability to add hardware to the system has allowed the development of recording hardware and software, which started the move that eventually created the modern digital audio workstation (DAW). DAWs allow non-destructive overdubbing and punching-in as tracks recorded. Such a digital system enables to record as many tracks as allowed by the software and additionally takes no longer required deleting old ones. With rapidly growing advancements, digital audio workstations projected to experience significant adoption across the forecast period.

Android Operating System Referred as Most Lucrative Platform in Digital Audio Workstation Market

An android operating system is now the world’s most commonly used platform and used by many different smart device manufacturers. Android is partly an open-source platform. It is more preferable as the interface and basic features of Android are customizable from top to bottom. Prior to this, iOS was the most preferred and lucrative platform for software developers, therefore there was a tendency for new applications to appear on iOS first. However, as Android’s market share is growing this has started to change as developers are targeting on Android platform first. As a result, DAW manufacturers are steadily aiming to build their devices on such platforms to cater lion's share of the targeted audience.

North America Garnered Lion Share in Digital Audio Workstation Market

North America contributed the largest market share, credited to the early adoption of the most advanced technology solutions. The market here also stimulated vendors to reach a large end-user base. With growing advancement in the technology, market here expected to surge at a promising rate across the forecast period. Similarly, the region headquarters number of major market players such as Apple Inc., Acoustica, Inc., Adobe Inc., MOTU, Inc., Avid Technology, Cakewalk, Inc., and PreSonus Audio Electronics, Inc. among others. Further, with the rapidly developing music industry, the Asia Pacific market projected to highlight a higher growth rate across the forecast period.

Key players in the digital audio workstation market include Apple Inc., Acoustica, Inc., Adobe Inc., MOTU, Inc., Avid Technology, Cakewalk, Inc., PreSonus Audio Electronics, Inc., Ableton Live, Native Instruments GmbH, Steinberg Media Technologies GmbH, and MAGIX among others.

Historical & Forecast Period

This research report presents the analysis of each segment from 2019 to 2029 considering 2020 as the base year for the research. Compounded Annual Growth Rate (CAGR) for each respective segment calculated for the forecast period from 2021 to 2029.

Key questions answered in this report

• What was the market size of a digital audio workstation in 2020 and forecast up to 2029?
• Which is the largest regional market for a digital audio workstation?
• What are the key market trends observed in the digital audio workstation?
• Which are the most promising component, types, deployment models, operating systems, and end-user in the digital audio workstation market?
• Who are the key players leading the market?
• What are the key strategies adopted by the leading players in market?
• What are the key music industry trends across different geographies and sub-geographies?

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