The music production software market size has grown strongly in recent years. It will grow from $1.37 billion in 2023 to $1.45 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. The growth in the historic period can be attributed to the shift towards cloud-based solutions, the surge in self-produced artists, the rise of mobile music production, the growth of music streaming services, and the increased penetration of mobile devices and Internet users.
The music production software market size is expected to see strong growth in the next few years. It will grow to $1.87 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The rise expected in the forecast period can be linked to the soaring demand for digital audio content, the expanding adoption of DJ software, the rising popularity of paid streaming services, the increasing demand for music composition software, and the growing number of musicians and artists. Key trends anticipated during this period encompass technological advancements, the proliferation of cloud-based music production systems, the expansion of subscription-based models, the integration of virtual studio technology (VST), and the incorporation of AI-powered features.
The increasing demand for digital audio content is expected to drive the growth of the music production software market in the coming years. Digital audio content encompasses sound recordings, music, or any other type of audio material that has been digitized and stored in a digital format. Various factors contribute to the demand for digital audio material, including convenience, the widespread use of smart devices, and the popularity of audiobooks. Music production software offers a wide array of features and functionalities that enable users to compose, record, edit, mix, and master audio tracks, podcasts, soundtracks, and other forms of digital audio content. For example, in June 2023, WordsRated, a US-based non-commercial organization, reported that audiobook sales in the United States generated over $1.81 billion in revenue in 2022, marking a 3.43% growth over 2021. Consequently, the rising demand for digital audio content is fueling the expansion of the music production software market.
Key players in the music production software market are focusing on developing advanced product portfolios, such as artificial intelligence (AI) music production software plugin tools, to aid music producers in composing new pieces of music. An AI music production software plugin tool is a digital application or software plugin that utilizes AI algorithms and machine learning techniques to automate or enhance various aspects of the music production process. For instance, in November 2023, DigiTraxAI, a US-based music AI company, introduced KR38R PRO, the first AI music production software plugin tool. This tool, integrated with major digital audio workstations (DAWs), incorporates powerful algorithms for creating, remixing, and transforming musical compositions, thereby facilitating a more efficient workflow. Equipped with motion and flow sliders for dynamic control over music, as well as a central dice button for randomization, KR38R PRO enables musicians to explore limitless musical possibilities. Its development represents seven years of human-AI collaboration, with a focus on leveraging music theory to empower composers and producers with instant creative possibilities.
In November 2023, Symphony Technology Group, a US-based private equity firm, acquired Avid Technology Inc. for $1.4 billion. This acquisition is poised to reshape the music software landscape, fostering increased innovation and enhanced offerings for musicians, producers, and composers. The deal provides Avid with STG's financial resources and strategic expertise, enabling it to strengthen its position as a leading provider of music production software. Avid Technology Inc. is known for its digital non-linear audio editing and music production software, including Pro Tools.
Major companies operating in the music production software market are Apple Inc., Adobe Inc., Yamaha Corporation, MAGIX Software GmbH, Ableton AG, Universal Audio, Steinberg Media Technologies GmbH, Image Line Software, Serato, Arturia SA, PreSonus Audio Electronics Inc., Reason Studios, Celemony Software GmbH, Waves Audio Ltd., Native Instruments USA Inc., Cakewalk Inc., NCH Software, Acoustica Inc., Bitwig GmbH, Cockos Incorporated, Tracktion Software Corporation, MOTU Inc., GoldWave Inc., Acon Digital AS, Zynewave.
North America was the largest region in the music production Software market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the music production software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the music production software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Music production software, commonly referred to as digital audio workstation (DAW) software, is a computer program designed to create music digitally. It offers artists and audio professionals a platform to compose, edit, and arrange audio tracks. The goal of music production software is to streamline the music-making process by providing a range of tools and features that facilitate the creation of high-quality music.
The primary types of music production software encompass editing, mixing, and recording functionalities. Editing involves the modification of recorded sound to achieve a desired outcome. It can be utilized on-premise or in the cloud across various applications, including those in the realms of artists, musicians, entertainment, and education. The diverse array of end-users includes both professionals and non-professionals.
The music production software market research report is one of a series of new reports that provides music production software market statistics, including music production software industry global market size, regional shares, competitors with a music production software market share, detailed music production software market segments, market trends and opportunities, and any further data you may need to thrive in the music production software industry. This music production software market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The music production software market includes revenues earned by entities by providing services such as MIDI (Musical Instrument Digital Interface) sequencing, audio effects, automation, and collaboration and sharing. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
The music production software market size is expected to see strong growth in the next few years. It will grow to $1.87 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The rise expected in the forecast period can be linked to the soaring demand for digital audio content, the expanding adoption of DJ software, the rising popularity of paid streaming services, the increasing demand for music composition software, and the growing number of musicians and artists. Key trends anticipated during this period encompass technological advancements, the proliferation of cloud-based music production systems, the expansion of subscription-based models, the integration of virtual studio technology (VST), and the incorporation of AI-powered features.
The increasing demand for digital audio content is expected to drive the growth of the music production software market in the coming years. Digital audio content encompasses sound recordings, music, or any other type of audio material that has been digitized and stored in a digital format. Various factors contribute to the demand for digital audio material, including convenience, the widespread use of smart devices, and the popularity of audiobooks. Music production software offers a wide array of features and functionalities that enable users to compose, record, edit, mix, and master audio tracks, podcasts, soundtracks, and other forms of digital audio content. For example, in June 2023, WordsRated, a US-based non-commercial organization, reported that audiobook sales in the United States generated over $1.81 billion in revenue in 2022, marking a 3.43% growth over 2021. Consequently, the rising demand for digital audio content is fueling the expansion of the music production software market.
Key players in the music production software market are focusing on developing advanced product portfolios, such as artificial intelligence (AI) music production software plugin tools, to aid music producers in composing new pieces of music. An AI music production software plugin tool is a digital application or software plugin that utilizes AI algorithms and machine learning techniques to automate or enhance various aspects of the music production process. For instance, in November 2023, DigiTraxAI, a US-based music AI company, introduced KR38R PRO, the first AI music production software plugin tool. This tool, integrated with major digital audio workstations (DAWs), incorporates powerful algorithms for creating, remixing, and transforming musical compositions, thereby facilitating a more efficient workflow. Equipped with motion and flow sliders for dynamic control over music, as well as a central dice button for randomization, KR38R PRO enables musicians to explore limitless musical possibilities. Its development represents seven years of human-AI collaboration, with a focus on leveraging music theory to empower composers and producers with instant creative possibilities.
In November 2023, Symphony Technology Group, a US-based private equity firm, acquired Avid Technology Inc. for $1.4 billion. This acquisition is poised to reshape the music software landscape, fostering increased innovation and enhanced offerings for musicians, producers, and composers. The deal provides Avid with STG's financial resources and strategic expertise, enabling it to strengthen its position as a leading provider of music production software. Avid Technology Inc. is known for its digital non-linear audio editing and music production software, including Pro Tools.
Major companies operating in the music production software market are Apple Inc., Adobe Inc., Yamaha Corporation, MAGIX Software GmbH, Ableton AG, Universal Audio, Steinberg Media Technologies GmbH, Image Line Software, Serato, Arturia SA, PreSonus Audio Electronics Inc., Reason Studios, Celemony Software GmbH, Waves Audio Ltd., Native Instruments USA Inc., Cakewalk Inc., NCH Software, Acoustica Inc., Bitwig GmbH, Cockos Incorporated, Tracktion Software Corporation, MOTU Inc., GoldWave Inc., Acon Digital AS, Zynewave.
North America was the largest region in the music production Software market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the music production software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the music production software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Music production software, commonly referred to as digital audio workstation (DAW) software, is a computer program designed to create music digitally. It offers artists and audio professionals a platform to compose, edit, and arrange audio tracks. The goal of music production software is to streamline the music-making process by providing a range of tools and features that facilitate the creation of high-quality music.
The primary types of music production software encompass editing, mixing, and recording functionalities. Editing involves the modification of recorded sound to achieve a desired outcome. It can be utilized on-premise or in the cloud across various applications, including those in the realms of artists, musicians, entertainment, and education. The diverse array of end-users includes both professionals and non-professionals.
The music production software market research report is one of a series of new reports that provides music production software market statistics, including music production software industry global market size, regional shares, competitors with a music production software market share, detailed music production software market segments, market trends and opportunities, and any further data you may need to thrive in the music production software industry. This music production software market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The music production software market includes revenues earned by entities by providing services such as MIDI (Musical Instrument Digital Interface) sequencing, audio effects, automation, and collaboration and sharing. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Music Production Software Market Characteristics3. Music Production Software Market Trends and Strategies32. Global Music Production Software Market Competitive Benchmarking33. Global Music Production Software Market Competitive Dashboard34. Key Mergers and Acquisitions in the Music Production Software Market
4. Music Production Software Market - Macro Economic Scenario
5. Global Music Production Software Market Size and Growth
6. Music Production Software Market Segmentation
7. Music Production Software Market Regional and Country Analysis
8. Asia-Pacific Music Production Software Market
9. China Music Production Software Market
10. India Music Production Software Market
11. Japan Music Production Software Market
12. Australia Music Production Software Market
13. Indonesia Music Production Software Market
14. South Korea Music Production Software Market
15. Western Europe Music Production Software Market
16. UK Music Production Software Market
17. Germany Music Production Software Market
18. France Music Production Software Market
19. Italy Music Production Software Market
20. Spain Music Production Software Market
21. Eastern Europe Music Production Software Market
22. Russia Music Production Software Market
23. North America Music Production Software Market
24. USA Music Production Software Market
25. Canada Music Production Software Market
26. South America Music Production Software Market
27. Brazil Music Production Software Market
28. Middle East Music Production Software Market
29. Africa Music Production Software Market
30. Music Production Software Market Competitive Landscape and Company Profiles
31. Music Production Software Market Other Major and Innovative Companies
35. Music Production Software Market Future Outlook and Potential Analysis
36. Appendix
Executive Summary
Music Production Software Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on music production software market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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Description
Where is the largest and fastest growing market for music production software ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The music production software market global report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
1) by Type: Editing; Mixing; Recording2) by Deployment: on-Premise; Cloud-Based
3) by Application: Artists; Musicians; Entertainment; Education
4) by End-User: Professionals; Non-Professional
Key Companies Mentioned: Apple Inc.; Adobe Inc.; Yamaha Corporation; MAGIX Software GmbH; Ableton AG
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery Format: PDF, Word and Excel Data Dashboard.
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Apple Inc.
- Adobe Inc.
- Yamaha Corporation
- MAGIX Software GmbH
- Ableton AG
- Universal Audio
- Steinberg Media Technologies GmbH
- Image Line Software
- Serato
- Arturia SA
- PreSonus Audio Electronics Inc.
- Reason Studios
- Celemony Software GmbH
- Waves Audio Ltd.
- Native Instruments USA Inc.
- Cakewalk Inc.
- NCH Software
- Acoustica Inc.
- Bitwig GmbH
- Cockos Incorporated
- Tracktion Software Corporation
- MOTU Inc.
- GoldWave Inc.
- Acon Digital AS
- Zynewave
Methodology
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 175 |
Published | July 2024 |
Forecast Period | 2024 - 2028 |
Estimated Market Value ( USD | $ 1.45 Billion |
Forecasted Market Value ( USD | $ 1.87 Billion |
Compound Annual Growth Rate | 6.6% |
Regions Covered | Global |