Digital Audio Workstations Market – Emerging Trends and Growth Opportunities by 2026 | Profiling Players like Avid Technology, Inc., Cakewalk, Inc., BandLab Technologies, Presonus Audio Electronics Inc.
According to a new market report Digital Audio Workstations (DAWs) Market, published by Transparency Market Research, the global Digital Audio Workstations (DAWs) Market is expected to reach US$ 1,486.0 Mn by 2026, expanding at a CAGR of 8.8% from 2018 to 2026. According to the report, the global market will continue to be influenced by a range of macroeconomic and industry-specific factors. North America will continue to be at the forefront of global demand, with the market in the region growing at above 8.2% through 2026. Technical advancements, increased digitization and presence of large number of digital audio workstations manufacturers are anticipated to significantly influence the global digital audio workstations market growth across the North America region.
Increasing adoption of DAWs system for recording, editing and producing audio files is expected to boost the growth of the overall market in the coming years. The ability of DAWs software to offer cost effective and efficient recording system is fueling demand for them. Apart from that, easy availability of free learning materials on different website is expected to boost the demand of DAWs software across the different application area over the forecast period.
In addition, music composition or creation of electronic music with little investment in computer or digital device is expected to fuel the growth of the market in the coming years. Furthermore, increased presence of number of digital audio workstations manufacturers and post-sale service providers across the regions has led to subsequent rise in demand of digital audio workstations and which is likely to supplement the market growth during the forecast period.
Digital audio workstation (DAW) is an electronic system, primarily designed for recording, editing, and playing back digital audio files. In more recent time, many technological advancements are taking place in audio and video market. Media and entertainment sectors use a wide variety of active digital audio workstations. Thus, digital audio workstations market is expected to witness strong growth in the coming years.
Music production software, also popularly known as digital audio workshop (DAW), is a widely used software for digital recording, musical composition, creating electronic music, and other musical applications. Popular DAWs software are Cockos REAPER, Image-Line FL Studio, Logic Pro X, Pro Tools, Ableton Live, Steinberg Cubase, Propellerhead Reason and Bitwig Studio. With the increasing number of DJs and live programs across the world is primarily driving the demand for digital audio workstation and which is results into growth the market over the forecast period.
Moreover increasing demand for digital audio recording from media and entertainment industry is expected to fuel the growth of the market over the forecast period. However, limited number of highly skilled and trained users is projected to inhibit the growth of the DAWs market across the world. The market for digital audio workstations is forecast to grow to US$ 1,486.0 Mn by 2026 from US$ 702.5 Mn in 2017, recording a CAGR of 8.8%.
Remarkable number of existing users across North America region, is anticipated to generate maximum revenue for the digital audio workstations market over the forecast period. Europe and South America is anticipated to follow the similar trend during 2018 – 2026. Further, Middle East & Africa is forecasted to witness significant CAGR growth after South America and APAC.
Attracted by this steadily expanding market and underlying embryonic demand, many small and large enterprises are driven to invest in the market for digital audio workstations software and services. Right from system or software developers to integrators and professional services providers, across industries strengthening their position in the digital audio workstations market. Product innovation and upgrade of research and development are constantly taking place in the digital audio workstations market.
For instance, in December 2014, Acoustica, Inc. released Mixcraft 7 and Mixcraft Pro Studio 7, after 2 years of research and development. Some of the prominent players as identified in the digital audio workstations market and profiled in the study include – Ableton AG, Acoustica, Inc., Avid Technology, Inc., Cakewalk, Inc., BandLab Technologies, Presonus Audio Electronics Inc., MAGIX Software GmbH, Steinberg GmbH, Adobe Systems, Inc., and Mark of the Unicorn among others.
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Digital Audio Workstations (DAWs) Market, By Component
- System Integration
- Operating and Maintenance
Digital Audio Workstations (DAWs) Market, By OS Compatibility
- Others (Android, Linux, Etc.)
Digital Audio Workstations (DAWs) Market, By Deployment
Digital Audio Workstations (DAWs) Market, By End-use
- Music Industry
In addition, the report provides analysis of the digital audio workstations (DAWs) market with respect to the following geographic segments:
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific (APAC)
- Rest of APAC