Global Digital Audio Workstation (DAW) Software Market Report 2024

The digital audio workstation software (DAW) market size has grown strongly in recent years. It will grow from $2.48 billion in 2023 to $2.69 billion in 2024 at a compound annual growth rate (CAGR) of 8.6%. The growth observed in the historic period can be credited to the expansion of podcasting and audio content creation, the emergence of home recording studios, the increase in independent music production, the development of digital distribution platforms, and the advancement of mobile recording solutions.

The digital audio workstation software (DAW) market size is expected to see strong growth in the next few years. It will grow to $3.8 billion in 2028 at a compound annual growth rate (CAGR) of 9%. The anticipated growth in the forecast period can be attributed to the heightened demand for virtual collaboration tools, the integration of artificial intelligence and machine learning, the broader adoption of immersive audio technologies, the growing popularity of podcasting and audiobooks, and the shift towards subscription-based pricing models. Key trends expected in the forecast period include the increasing traction of cloud-based DAW solutions, a focus on user-friendly interfaces and workflows, the utilization of blockchain technology for rights management, the incorporation of virtual reality (VR) and augmented reality (AR) features, and the proliferation of mobile-first DAW applications.

The surge in music production is anticipated to drive the expansion of the digital audio workstation software market in the future. Music production encompasses activities such as creating, arranging, recording, and mixing sound elements to craft musical compositions or tracks. This increase in music production is propelled by advancements in technology, the widespread availability of recording equipment, and the growing demand for diverse and personalized music content across various platforms. Digital audio workstation software serves as a central platform for all aspects of music production, providing a comprehensive suite of tools and features to help musicians realize their creative visions efficiently and accurately. For example, in March 2023, the Australian Recording Industry Association (ARIA) reported a 7.4% increase in wholesale revenue from Australian recorded music, reaching $609.6 million in 2022 from $567.8 million in 2021. Consequently, the rise in music production is fueling the growth of the digital audio workstation software market.

Major companies in the digital audio workstation software market are concentrating on developing cutting-edge technologies, such as AI-powered audio design tools, to maintain their market presence. These tools utilize artificial intelligence algorithms to automate or enhance various aspects of audio production and sound design. For instance, in April 2023, Audio Design Desk, a US-based software company specializing in audio production tools, unveiled Audio Design Desk (ADD) 2.0. This tool for creating sound design, foley, and music for video integrates AI-powered audio design capabilities, streamlining workflows for video editors, sound designers, and content creators. It features a sleek user interface for improved navigation and discoverability, with its Auto-Mix feature employing content-aware technology to adjust volume levels of audio elements for a balanced initial mix effortlessly.

In July 2022, Sennheiser Electronic GmbH, a Germany-based manufacturer of audio equipment, acquired Merging Technologies for an undisclosed sum. Through this acquisition, Sennheiser aims to bolster its product portfolio, particularly in digital audio workstations and solutions, to offer customers comprehensive audio solutions in studio quality. Merging Technologies S.A., based in Switzerland, is known for developing high-resolution digital audio recording systems and innovative audio networking technology.

Major companies operating in the digital audio workstation (DAW) software market are Apple Inc., Adobe Inc., Avid Technology Inc., inMusic Inc., Ableton Inc., Native Instruments USA Inc., TASCAM, MAGIX Software GmbH, Serato Studio, Image Line Software, Steinberg Media Technologies GmbH, PreSonus Audio Electronics Inc., Motu Inc., Reason Studios AB, BandLab Technologies, Bitwig GmbH, Acoustica Inc., Ardour Digital Limited, Cockos Incorporated, Harrison Audio Consoles, SoundBridge, Renoise, Tracktion Software Corporation, Antares Audio Technologies, Audacity Team.

North America was the largest region in the digital audio workstation software market in 2023. The regions covered in the digital audio workstation (DAW) software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the digital audio workstation (DAW) software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Digital audio workstation (DAW) software is a computer program designed for recording, editing, mixing, and producing audio files. This versatile tool is essential for audio professionals, musicians, producers, and hobbyists across various industries, enabling the creation, manipulation, and production of high-quality audio content.

The main types of DAW software include macOS, Windows, Android, and other platforms. macOS refers to computers manufactured by Apple Inc. that run on the macOS operating system. The various pricing models for DAW software are subscription-based and one-time purchases. These programs are used in applications such as professional audio engineering and mixing, songwriting and production teams, electronic music creation, performance by artists, educational institutes, music studios, and more.

The digital audio workstation (DAW) software market research report is one of a series of new reports that provides digital audio workstation (DAW) software market statistics, including the digital audio workstation (DAW) software industry global market size, regional shares, competitors with a digital audio workstation (DAW) software market share, detailed digital audio workstation (DAW) software market segments, market trends and opportunities, and any further data you may need to thrive in the digital audio workstation (DAW) software industry. This digital audio workstation (DAW) 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 digital audio workstation (DAW) software market includes revenues earned by entities by providing services such as audio recording, editing, mixing, MIDI sequencing, and virtual instruments. 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 digital audio workstation software market also consists of sales of software packages, plugins, and hardware controllers designed for music and audio production. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

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.