Product Code: 70762
The Digital Audio Workstation Market is expected to register a CAGR of 8.1% over the forecast period (2020 - 2025). Over the past few decades, digital audio workstations have made tremendous progress. In today's entertainment industry, digital audio workstations are used in almost both audio as well as video processing systems. Digital audio workstation meshwork consists of software as well as hardware components for recording, editing, mixing, and producing audio files. These are exclusively crafted out of silicon carbide or gallium nitride to maintain the integrity of sound and also to avoid resonance effect.
- There is a higher adoption of various digital audio workstations due to the technological enhancements in the field of R&D by manufacturers in the market and also in the entertainment and media sectors in order to enhance the customer experience. In addition, various key players use music production software widely known as digital audio workstations for musical composition, musical applications, digital recording, and to create electronic music.
- Moreover, due to the growing number of on-going live performances and a number of DJ professionals around the world, the market is expected to grow. Highly skilled personnel are focusing on upgradation and innovation of existing devices to release a new product in the market is expected to support market growth.
- Frequently changing requirements by emerging enterprises and high adoption of these devices in order to store vital data and the ability to store huge volumes of data more than conventional servers are anticipated to drive the growth of the market. However, the lack of trained and highly skilled persons in this industry is expected to hamper the growth of the global digital audio workstations market.
Key Market Trends
MAC Operating System Expected to Witness Significant Growth
- MAC operating system is also expected to witness growth over the projected time frame due to its increasing application in different end-use sectors. The MAC segment is also speculated to register healthy growth and expansion. Increasing the adoption of Mac services in recording and editing digital audio files is expected to propel the demand for the OS over the forecast period.
- Mac provides a better collective solution for numerous users, given its excellent build quality and stability. Mac also offers enhanced solutions to various consumers due to its excellent design structure, which in turn is expected to drive the growth of the MAC segment in the market. Softwares such as FL Studio can be used for MAC OS. It is one of the best DAW software for MAC. For a beginner starting journey in music-making, considering FL Studio is better.
- Ableton Live is also one of the best music production software for MAC is great for both live performances and studio work. It has dual views, which makes it possible to work in the studio and, at the same time, have live performances. Its session view works perfectly with grid-based hardware controllers and has great design and user interface, with clean and sleek graphics.
- Similarly, Studio One has gained immense popularity and is counted as one of the best DAW for MAC. This piece of software is a complete DAW and is a good one for the professionals. It enhances your composing work and comes with different features made to ease the composting process, like automatic MIDI chord shifting or printing out scores, etc.
North America Expected to Witness Significant Growth
- North America region is the biggest contributor to the digital audio workstations market. Owing to the increased use of digitization in music, the digital audio workstation market is poised to grow at a blistering pace in this region.
- Owing to the early adoption of advanced technology solutions as well as initiatives taken by vendors to reach the end-user base, countries such as the US and Canada are witnessing increased adoption of advanced technologies, including Android and Linux operating systems.
- Companies in the region are focussed on providing high-definition audio and video experiences. For instance, in 2019, Panasonic launched the RP-HD305B On-Ear wireless headphones. It is equipped with high definition audio, content matching modes, and comfortable design; the RP-HD305B headphones provide users with the ultimate entertainment experience.
- Recently, Panasonic and Klipsch, a tech-driven audio company, also announced an exclusive collaboration to deliver the revered "Klipsch Sound" and audiophile-quality performances to the in-vehicle experience at the CES trade show in Las Vegas.
- Moreover, in 2019, Amazon Music announced the launch of Amazon Music HD, which is a new tier of premium quality music with more than 50 million songs in High Definition, and millions of songs in Ultra High Definition, the highest quality streaming audio available.
The major companies include Apple Inc., Adobe Inc., Acoustica Inc., among others. The market is highly competitive due to the presence of many players who are competing among themselves and are also investing huge amounts in R&D for developing better, reliable workstations. Therefore, the market concentration will be low.
- May 2020 - Apple unveiled a major update to Logic Pro X with a professional version of Live Loops, a completely redesigned sampling workflow, and new beat-making tools. With its collection of powerful creative features, Logic Pro X 10.5 will be a massive release for all musicians, including those producing electronic music. Apple Inc. introduced the advanced version of DAW software to meet the capabilities of Mac Pro.
- May 2019 - Avid Technology announced the launch of Pro Tools for users working on a large number of track environments. Advanced software delivers 50% more audio tracks compared to the previous one.
- March 2019 - Avid renewed its multiyear agreement with FotoKem, a leader in digital and film post-production. The agreement ensures optimized efficiencies from Avid to enhance FotoKem's video and audio post-production workflows. ProTools plays an important role in improving FotoKem's audio post-production.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
TABLE OF CONTENTS
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
- 4.1 Market Overview
- 4.2 Market Drivers
- 4.2.1 Rise in Demand for High Definition Video and Audio
- 4.2.2 Increased Use of Technology in Audio and Video Making
- 4.3 Market Restraints
- 4.3.1 Internet Penetration Rate Financial Uncertainty and Macroeconomic Situations
- 4.4 Industry Value Chain / Supply Chain Analysis
- 4.5 Industry Attractiveness - Porter's Five Force Analysis
- 4.5.1 Bargaining Power of Suppliers
- 4.5.2 Bargaining Power of Buyers/Consumers
- 4.5.3 Threat of New Entrants
- 4.5.4 Threat of Substitute Products
- 4.5.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
- 5.1 By Operating System
- 5.1.1 Mac
- 5.1.2 Windows
- 5.1.3 Other Operating Systems
- 5.2 By End Users
- 5.2.1 Professional/Audio Engineers and Mixers
- 5.2.2 Electronic Musicians
- 5.2.3 Music Studios
- 5.2.4 Other End Users
- 5.3 Geography
- 5.3.1 North America
- 5.3.2 Europe
- 5.3.3 Asia-Pacific
- 5.3.4 Latin America
- 5.3.5 Middle East & Africa
6 COMPETITIVE LANDSCAPE
- 6.1 Company Profiles
- 6.1.1 Apple Inc.
- 6.1.2 Adobe Inc.
- 6.1.3 Steinberg Media Technologies GmbH
- 6.1.4 Avid Technology Inc.
- 6.1.5 Native Instruments GmbH
- 6.1.6 MAGIX Software GmbH
- 6.1.7 PreSonus Audio Electronics Inc.
- 6.1.8 Harrison Consoles Inc.
- 6.1.9 Cakewalk Inc.
- 6.1.10 Acoustica Inc.
7 INVESTMENT ANALYSIS
8 FUTURE OF THE MARKET