PUBLISHER: The Business Research Company | PRODUCT CODE: 1499997
PUBLISHER: The Business Research Company | PRODUCT CODE: 1499997
An audio plug-in software application, also referred to as a plug-in, is a software tool created to operate alongside digital audio workstations (DAWs) or similar audio software, with the aim of augmenting or altering audio signals in various ways. This can involve adding effects, processing sounds, or generating entirely new sounds. Through this application, users gain the ability to edit and manipulate audio recordings or synthetic sounds to fulfill specific artistic or technical goals.
The primary categories of audio plug-in software applications include editing, mixing, and recording. Editing involves refining and adjusting audio recordings by manipulating elements like volume, pitch, and timing to achieve desired outcomes, and the utilization of audio plugins is crucial for polishing and enhancing audio tracks prior to final production. These software tools are further classified as either on-premise or cloud-based, designed for operating systems such as Windows and Mac OS, and cater to various end-users including professionals, audio engineers and mixers, songwriters and production teams, electronic musicians, artists or performers, educational institutions, music studios, and others.
The audio plug-in software application market research report is one of a series of new reports from The Business Research Company that provides audio plug-in software application market statistics, including audio plug-in software application industry global market size, regional shares, competitors with a audio plug-in software application market share, detailed audio plug-in software application market segments, market trends and opportunities, and any further data you may need to thrive in the audio plug-in software application industry. This audio plug-in software application 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 audio plug-in software application market size has grown rapidly in recent years. It will grow from $4.34 billion in 2023 to $4.94 billion in 2024 at a compound annual growth rate (CAGR) of 13.8%. The increase observed during the historical period can be ascribed to several factors, including the requirement for enhanced sound quality in mobile devices, the call for innovative and specialized instruments, heightened demand for professional audio production, the expansion of the gaming industry, and an upsurge in the demand for audio plug-in software applications.
The audio plug-in software application market size is expected to see rapid growth in the next few years. It will grow to $8.37 billion in 2028 at a compound annual growth rate (CAGR) of 14.1%. The anticipated expansion in the forecast period can be credited to the increasing uptake of digital audio workstations, the surging trend of virtual concerts, the rising prevalence of live streaming and video blogging, the growing popularity of home recording studios, and the escalating demand for high-quality audio production. Key trends projected for the forecast period encompass technological progress, AI-driven audio enhancement, subscription-based models, cloud-based processing, and the integration of machine learning and AI algorithms in audio plug-ins.
The increasing demand for high-definition audio is anticipated to drive the growth of audio plug-in software applications in the future. High-definition audio technology offers superior quality, fidelity, and resolution compared to standard formats, leading to a rising preference for its adoption. Leveraging high-definition audio processing, audio plug-ins can enhance the clarity, fidelity, and realism of audio recordings, appealing to musicians, producers, and audio engineers. For example, in 2021, a Qualcomm survey of 6000 smartphone users found that 55% of respondents were likely to subscribe to an HD streaming service, and 53% sought high-resolution or lossless audio quality. Additionally, 51% considered sound quality the most crucial factor when purchasing wireless earbuds. Hence, the increasing demand for high-definition audio is a significant driver for the audio plug-in software applications market.
Leading companies in the audio plug-in software application market are concentrating on developing audio collaboration plug-ins to facilitate remote collaboration with advanced streaming capabilities. These plug-ins enable real-time collaboration among multiple users within a digital audio workstation (DAW), allowing them to work together on music production projects from remote locations. For instance, in March 2024, Ginger Audio, a US-based provider of advanced audio solutions, launched an authentic audio collaboration plug-in featuring a talkback functionality that enables collaborators to communicate seamlessly during the collaboration process. Supporting an unlimited number of connections, this plug-in allows multiple contributors to join a single session. Furthermore, it supports binaural rendering, enabling collaborators to preview spatialized audio. Compatible with VST3, AAX, and AU plug-in hosts, this plug-in caters to a diverse user base.
In October 2023, DiGiCo, a UK-based manufacturer of digital mixing consoles and audio technologies, acquired Fourier Audio, a UK-based provider of audio plug-in software applications, for an undisclosed sum. This acquisition aims to integrate high-quality, studio-grade audio processing capabilities into live sound setups, empowering engineers and artists to deliver more dynamic live performances.
Major players in the audio plug-in software application market are Apple Inc., Avid Technology Inc., Magix Software GmbH, Universal Audio, Steinberg Media Technologies GmbH, Image Line Software, Arturia SA, Eventide Inc., PreSonus Audio Electronics Inc., Waves Audio Ltd., Native Instruments USA Inc., NCH Software, Softube, HoRNet SRL, Antares Audio Technologies, Plugin Alliance, Soundtoys, Blue Cat Audio, FabFilter, Slate Digital, Sonnox, MeldaProduction, Cableguys, and Acon Digital AS.
North America was the largest region in the audio plug-in software application market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in audio plug-in software application report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the audio plug-in software application market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The audio plug-in software application market consists of revenues earned by entities by providing services such as audio effects processing, real-time processing and performance, stereo imaging, noise reduction and restoration, and spatial audio processing. The market value includes the value of related goods sold by the service provider or included within the service offering. The audio plug-in software application market also includes sales of effects plug-ins, utility plug-ins, virtual instruments, pitch correction and time manipulation plug-ins. 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.
Audio Plug-In Software Application Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on audio plug-in software application 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.
Where is the largest and fastest growing market for audio plug-in software application ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The audio plug-in software application market global report from the Business Research Company 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 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.