Music Production Software Market | Contrive Datum Insights

Market Overview:

The Global Music Production Software Market Is Projected To Grow From USD 78.60 Million By 2022 To USD 155.46 Million By 2030, Exhibiting A CAGR Of 8.9% During The Forecast Period.

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Music production software, which is also called Digital Audio Workshop (DAW), is used to digitally record, write songs, produce electronic music, and do other things with music. Music software can be used for many things, like digital recording, making electronic music, writing music, and more.

The Digital Audio Workstation (DAW) is software that is used to make, edit, and record audio files. It is used a lot in the recording and production of songs, speeches, soundtracks, and other things that need a complex audio recorder. It has a central interface that lets users mix and change tracks at the same time. DAWs come in many different forms, from a single piece of software on a laptop to an integrated stand-alone unit to a very complicated set-up with many parts controlled by a single computer.

Music production software lets people make music and write songs without having to learn how to play instruments. Music production software gives people who aren't professionals new ways to make their own music. Because digital audio content is becoming more popular with end users, most software solution providers now offer advanced software for making music. Most musicians and companies that make music are investing in software that helps them make high-quality music. This is likely to make the media and entertainment industry want to buy a lot more software for editing or making music.

COVID-19 Impact:

Coronavirus has caused a lot of damage to the music industry. The biggest loss is the money made from live performances. As a result of the pandemic, physical sales, which make up a quarter of recorded music sales, are down because retail stores have closed, and digital sales have also dropped by a lot. This is in line with the general trend of less spending on extra things. Advertising spending is going down all over the world, which is also hurting the music industry.

On the distribution side, more and more artists are putting off their releases. This is because tours can't be used to promote new albums, and live music has been hurt in general. There have been a lot of big concerts and events that have been canceled.

Market Dynamics:

Market Trends:

• Growing Demand for Digital Audio Content

Digital audio content like music and podcasts is becoming more popular all over the world. People in cities are using digital content to listen to and share music more and more. People can listen to more digital audio content now that they have more electronic devices like smartphones, smartwatches, laptops, and tablets. At least four hours a week are spent listening to music on cell phones. During the forecast period, the demand for music production software is likely to rise due to the rising demand for digital audio content.

Driving Factors:

• Increase in the Adoption of DJ Software to Produce Music

Young people are becoming more interested in music, which gives DJ artists more chances to perform live, which is one way for organizers and artists to make money. More people will use music production software as their interest in music grows. This software is used to write, edit, record, and produce new songs as well as update old songs by adding new lyrics or music. DJ software is becoming more popular because musicians and music fans are increasingly interested in making their own remix tracks. People mix songs to make their own remix tracks because live events, concerts, and EDM are becoming more popular. During the forecast period, these things are likely to speed up the growth of the global music production software market.

• Growing Popularity of Podcasts Among Listeners

The number of people who listen to podcasts is growing by a large amount every day. DAW gives users better tools for editing and recording their podcasts. Because of this, podcasters use DAW to edit out all the "ahs" and "ums" in their podcasts, trim them to perfection, add a little bit of compression and reverb, and make a better version of their digital audio files. As an example, Hootsuite says that as of January 2022, 39.6% of people who use the internet listen to music streaming services every week. In the same way, 20.3% of people chose audiobooks. Also, the use of cloud-based DAW, the demand for high-definition video and audio, and the use of sound bars and home theater systems have all gone up. So, these factors are probably going to make the market grow.

Restraints/Challenges:

• Availability of Free Software to Hinder the Digital Audio Workstation Market Growth

The big players in the market offer DAW software through subscriptions and one-time purchases. But some companies give away their services for free. Because of this, some users are more likely to choose open source solutions instead of using subscriptions that their companies offer. There is free software on the market like:

The first free DAW was Audacity. It is an open-source multi-track editor that lets users edit and record audio files on different operating systems. The app supports many plugins and has a preview that shows sound effects in real time.

Cakewalk, BandLab's DAW, is an open-source DAW for Windows that lets users work with an unlimited number of audio tracks and MIDI sequencers. It lets people quickly add drum sounds to their music.

So, the growing number of free DAW solutions is likely to slow the growth of the market.

• Availability of Open-Source Music Production Software on Internet

The fact that open-source music production software is available hurts the income of companies that sell paid music production software.

The source code for open-source music production software is easy to find and can be found on many different websites. Most of the time, open-source software is made by and for a large group of software engineers.

Open source music production software is widely used by music producers because it is free to use, comes with free support, and keeps them from being locked into one vendor. The growth of the global music production software market is being slowed down by the rise of open-source music production software.

• Lack of Awareness

Music creators who don't know what music production software can do for them is also likely to hurt the music production software market.

Opportunities:

• Technological Advances

The market for music production software is growing thanks to improvements in web technology that allow for better ways to teach and software with easy-to-use interfaces. The software is cheap and easy to set up, so users can use it for many things like recording tracks and mixing sounds. Also, Artificial Intelligence (AI), big data, and the trend of streaming music continue to give the music production software market new ways to grow. The music industry is always using these technologies to improve the user experience as a whole. AI and other machine learning algorithms help music providers figure out how their users listen to music and interact on social media.

• Increase in the Rate of Adoption of Professional Music Composition Software

During the forecast period, software providers are likely to have a lot of opportunities as the number of creators and social media influencers who use professional music composition software rises.

Segmentation Analysis:

• In August 2022 - Tracktion updated Waveform Free, the free version of Waveform DAW software, with a big new feature. It is based on the core features of Waveform Pro, and the free version of the software helps to reduce the number of features. There are no timeouts or limits on track count, export, use of third-party plugins, or storage space.
• In April 2022 - Imagine Marketing Limited teamed up with Dirac to improve digital audio solutions that will be used in boAt's next-generation audio range. With this partnership, Dirac's digital audio improvements would be combined with boAt's signature sound to make an iconic pair of headphones for users.
• In April 2022 - iZotope and Native Instruments announced that Soundwide would be their new parent company. With this, Soundwide hopes to build an integrated portfolio of products and drive the development of new audio platform technologies. This will help audio developers all over the world be more productive and get better results.
• In March 2022 - Apple made improvements to Logic Pro X, which is a DAW. This update fixes bugs and makes the system more stable. It lets AirPods Pro, AirPods Max, Beats Fit Pro, and AirPods track your head and listen to sound in different places.
• In March 2022 - Steinberg released an updated version of Cubase 12 with new features like an easy sign-in, a smoother workflow, and support for Apple silicon.
• In October 2021 - Harrison Consoles and iCON Pro Audio have joined forces to offer high-performance professional audio products to the recording and music industries.

Key Vendors:

Top market players are

• Ableton AG

Ableton makes software and hardware that can be used to make, produce, and play music. The company makes and sells the production and performance program Ableton Live, as well as a set of related instruments and sample libraries and their own software controller, Ableton Push. Ableton Live, which is the company's main product, has changed the way computers are used to make music on stage and in the studio.

• Cakewalk Inc.

Cakewalk is a company that makes software for making music. It was started in 1987, and its main office is in Boston, Massachusetts. It used to be called Twelve Tone Systems, Inc., and it is best known for making the digital audio workstation SONAR.

• PreSonus Audio Electronics Inc

Presonus Audio Electronics, Inc. manufactures electronic audio and video equipment for home entertainment. The company makes and sells recording systems, mixers, pre-amplifiers, monitors, controllers, signal processors, live sound reinforcement, and software.

• Steinberg Media Technologies GmbH

Computer hardware and software are sold by Steinberg Media Technologies GmbH. The company sells USB, controls, remote extensions, mobile applications, application software, and USB.

• Apple Inc

Apple Inc. (Apple) designs, makes, and sells phones, tablets, computers, and devices that you wear. The company also sells software applications and services related to them, as well as accessories and digital content from other companies. Apple makes the iPhone, iPad, Mac, iPod, Apple Watch, and Apple TV, among other things. It has software for both consumers and businesses, like iOS, macOS, iPadOS, and watchOS, as well as iCloud, AppleCare, and Apple Pay. Apple's App Store, Apple Arcade, Apple News+, Apple Fitness+, Apple Card, Apple TV+, and Apple Music all sell and deliver digital content and apps.

• Avid Technology Inc

Avid Technology, Inc. is one of the top companies in the world that makes tools for creating, managing, and distributing digital non-linear media. These solutions make it easier for people who work in film, video, audio, animation, games, and broadcasting to do their jobs. The main office of Avid Technology is in Burlington, MA.

• Cockos Incorporated

Cockos Incorporated was started in 2004 with the goal of making good software that people all over the world could use. The goal is to make software in a way that doesn't hurt the environment and doesn't let the need to make money force engineers to make bad decisions.

• FL Studio

Making programs for mixing and rendering music. FL Studio Mobile, an app that lets users make, render, and mix loops and samples, is the company's first product. It works as a sequencer, MIDI controller, audio recorder, mixer, and effects controller.

• MOTU Inc

Hardware and software from MOTU that have won awards are used every day by top professionals on hit songs, mega tours, primetime shows, and blockbuster movies. MOTU has been making audio, video, and music technology products since 1984. The company was started in 1980.

• Propellerhead Software AB

Propellerhead Software is a software company that was started in 1994 and is based in Stockholm, Sweden. It focuses on making music software for computers that can be used by both amateurs and professionals. Its best-known product is Reason, which is a complete recording studio software package. Its main function is to simulate hardware components that are usually rack-mounted in a recording studio.

Segmentation Analysis:

The market is segmented on the basis of type, component, deployment, application, and region.

By Type Outlook:

The market has been split into three types based on what they do: editing, mixing, and recording.

Recording has the biggest market share, but mixing is expected to grow at the fastest rate over the next few years.

With music production software, the user can record a voice, multiple tracks, or live instruments like a drum set or acoustic guitar separately or all at once. Also, the trend of remixing music is driving people to use mobile music apps to mix tracks. The user can take audio tracks that already exist and mix them together to make new music. The software has advanced features like reverb, delay, compression, echo trend, virtual studio technology (VST) plugins, and more. This lets artists make music that sounds better and is changed in other ways.

Editing is the most important part of making professional music that shows off your creativity and talent. This software has a lot of tools and features for editing audio, like auto-trimming, changing the pitch, cutting, copying, pasting, deleting, and compressing.

• Editing
• Mixing
• Recording

By Component Outlook:

The market is divided into software and services based on what it is made of.

The software segment brings in the most money. During the forecast period, it is also expected to grow at the fastest rate. This was because it had a huge number of solutions, like audio recording and editing, MIDI editing, mixing, and mastering, among many others. Organizations are adding new technologies to their software solutions to keep up with how quickly user preferences change. This is a likely thing that will make the market grow. But the services segment is likely to grow a lot during the time frame of the forecast.

• Software
• Services

By Deployment Outlook:

The market is split into cloud and on-premise based on how it is used.

During the forecast period, cloud-based digital audio workstations are expected to gain a large share of the market. Cloud-based solutions are being used more and more, which is likely to boost demand for products. Cloud-based digital audio workstation solutions are more popular with users than on-premises deployment because they are easier to scale, integrate, and cost less. The growth of the market is largely due to the introduction of new technologies like artificial intelligence, augmented reality, virtual reality, and cloud computing services.

• On-premise
• Cloud

By Application Outlook:

Music production companies, independent musicians, and home studios are the three types of users in the market (personal).

The segment of home studios (personal) brings in the most money, followed by independent musicians.

Independent singers, musicians, podcasters, and voiceover artists use mobile music production software a lot to quickly record and make music that sounds professional from anywhere. Independent musicians can now make music using apps on their phones and post their projects online. So, the demand for mobile music software is being driven by the fact that more social media influencers and individual creators are using professional music composition software.

• Music Production Companies
• Independent Musician
• Home Studios (Personal)

Regional Insights:

North America is thought to have the largest music market in the world because it has the largest market share. The International Federation of the Phonographic Industry (IFPI) says that one-third of the value of recorded music in the world market is in the United States. In the US, more people use apps than watch live TV. At the moment, it is thought that the average American watches 3.7 hours of live TV and 4 hours on a smartphone or other mobile device every day.
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Over the past ten years, digitization, new business models, and increased competition from global players have had a big effect on Europe's music industry. Currently, the US is going through a deep crisis that will change the way music is made and produced. consumption, distribution, and making money from it. So, all of the different levels of the music industry must work together strategically to help the music industry in European countries grow and develop.

In the near future, Asia-Pacific is likely to be the market with the fastest growth. Most Asian countries, like South Korea, Singapore, Taiwan, Hong Kong, Australia, and Japan, have already become mobile powerhouses, with more people using smartphones than desktop computers.

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
• Germany
• France
• Italy
• Spain
• UK
• Nordic Countries
• Denmark
• Finland
• Iceland
• Sweden
• Norway
• Benelux Union
• Belgium
• The Netherlands
• Luxembourg
• Rest of Europe
• Asia-Pacific
• Japan
• China
• India
• Australia
• South Korea
• Southeast Asia
• Indonesia
• Thailand
• Malaysia
• Singapore
• Rest of Southeast Asia
• Rest of Asia-Pacific
• The Middle East & Africa
• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest of the Middle East & Africa
• Latin America
• Brazil
• Argentina
• Rest of Latin America

Scope of Report:

Conclusion:

• The research report gives an overview of the world's top regions to help the user understand them better.
• The report also talks about the latest industry and market trends and looks at how fast technologies are being used around the world.
• It also talks about some of the things that help the market grow and things that slow it down.
• The report looks at these subsets in terms of how they are split up by geography.
• This research study will keep marketers up-to-date and help them figure out who their product or service is meant for.