Music Production Software Global Market Report 2024

Description

Music production software, commonly referred to as digital audio workstation (DAW) software, is a computer program designed to create music digitally. It offers artists and audio professionals a platform to compose, edit, and arrange audio tracks. The goal of music production software is to streamline the music-making process by providing a range of tools and features that facilitate the creation of high-quality music.

The primary types of music production software encompass editing, mixing, and recording functionalities. Editing involves the modification of recorded sound to achieve a desired outcome. It can be utilized on-premise or in the cloud across various applications, including those in the realms of artists, musicians, entertainment, and education. The diverse array of end-users includes both professionals and non-professionals.

The music production software market research report is one of a series of new reports from The Business Research Company that provides music production software market statistics, including music production software industry global market size, regional shares, competitors with a music production software market share, detailed music production software market segments, market trends and opportunities, and any further data you may need to thrive in the music production software industry. This music production 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 music production software market size has grown strongly in recent years. It will grow from $1.37 billion in 2023 to $1.45 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. The growth in the historic period can be attributed to the shift towards cloud-based solutions, the surge in self-produced artists, the rise of mobile music production, the growth of music streaming services, and the increased penetration of mobile devices and Internet users.

The music production software market size is expected to see strong growth in the next few years. It will grow to $1.87 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The rise expected in the forecast period can be linked to the soaring demand for digital audio content, the expanding adoption of DJ software, the rising popularity of paid streaming services, the increasing demand for music composition software, and the growing number of musicians and artists. Key trends anticipated during this period encompass technological advancements, the proliferation of cloud-based music production systems, the expansion of subscription-based models, the integration of virtual studio technology (VST), and the incorporation of AI-powered features.

The increasing demand for digital audio content is expected to drive the growth of the music production software market in the coming years. Digital audio content encompasses sound recordings, music, or any other type of audio material that has been digitized and stored in a digital format. Various factors contribute to the demand for digital audio material, including convenience, the widespread use of smart devices, and the popularity of audiobooks. Music production software offers a wide array of features and functionalities that enable users to compose, record, edit, mix, and master audio tracks, podcasts, soundtracks, and other forms of digital audio content. For example, in June 2023, WordsRated, a US-based non-commercial organization, reported that audiobook sales in the United States generated over $1.81 billion in revenue in 2022, marking a 3.43% growth over 2021. Consequently, the rising demand for digital audio content is fueling the expansion of the music production software market.

Key players in the music production software market are focusing on developing advanced product portfolios, such as artificial intelligence (AI) music production software plugin tools, to aid music producers in composing new pieces of music. An AI music production software plugin tool is a digital application or software plugin that utilizes AI algorithms and machine learning techniques to automate or enhance various aspects of the music production process. For instance, in November 2023, DigiTraxAI, a US-based music AI company, introduced KR38R PRO, the first AI music production software plugin tool. This tool, integrated with major digital audio workstations (DAWs), incorporates powerful algorithms for creating, remixing, and transforming musical compositions, thereby facilitating a more efficient workflow. Equipped with motion and flow sliders for dynamic control over music, as well as a central dice button for randomization, KR38R PRO enables musicians to explore limitless musical possibilities. Its development represents seven years of human-AI collaboration, with a focus on leveraging music theory to empower composers and producers with instant creative possibilities.

In November 2023, Symphony Technology Group, a US-based private equity firm, acquired Avid Technology Inc. for $1.4 billion. This acquisition is poised to reshape the music software landscape, fostering increased innovation and enhanced offerings for musicians, producers, and composers. The deal provides Avid with STG's financial resources and strategic expertise, enabling it to strengthen its position as a leading provider of music production software. Avid Technology Inc. is known for its digital non-linear audio editing and music production software, including Pro Tools.

Major companies operating in the music production software market are Apple Inc., Adobe Inc., Yamaha Corporation, MAGIX Software GmbH, Ableton AG, Universal Audio, Steinberg Media Technologies GmbH, Image Line Software, Serato, Arturia SA, PreSonus Audio Electronics Inc., Reason Studios, Celemony Software GmbH, Waves Audio Ltd., Native Instruments USA Inc., Cakewalk Inc., NCH Software, Acoustica Inc., Bitwig GmbH, Cockos Incorporated, Tracktion Software Corporation, MOTU Inc., GoldWave Inc., Acon Digital AS, Zynewave

North America was the largest region in the music production Software market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the music production software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the music production software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The music production software market includes revenues earned by entities by providing services such as MIDI (Musical Instrument Digital Interface) sequencing, audio effects, automation, and collaboration and sharing. 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 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.

Music Production Software 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 music production software 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.

Reasons to Purchase

Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
Measure the impact of high global inflation on market growth.
Create regional and country strategies on the basis of local data and analysis.
Identify growth segments for investment.
Outperform competitors using forecast data and the drivers and trends shaping the market.
Understand customers based on the latest market shares.
Benchmark performance against key competitors.
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Where is the largest and fastest growing market for music production software ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The music production software 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 market characteristics section of the report defines and explains the market.
The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
The forecasts are made after considering the major factors currently impacting the market. These include:

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.

Market segmentations break down the market into sub markets.
The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:1) By Type: Editing; Mixing; Recording
2) By Deployment: On-Premise; Cloud-Based
3) By Application: Artists; Musicians; Entertainment; Education
4) By End-User: Professionals; Non-Professional
Companies Mentioned: Apple Inc.; Adobe Inc.; Yamaha Corporation; MAGIX Software GmbH; Ableton AG
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.

Product Code: r17989

1. Executive Summary

2. Music Production Software Market Characteristics

3. Music Production Software Market Trends And Strategies

4. Music Production Software Market - Macro Economic Scenario

4.1. Impact Of High Inflation On The Market
4.2. Ukraine-Russia War Impact On The Market
4.3. COVID-19 Impact On The Market

5. Global Music Production Software Market Size and Growth

5.1. Global Music Production Software Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Music Production Software Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Music Production Software Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Music Production Software Market Segmentation

6.1. Global Music Production Software Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Editing
Mixing
Recording
6.2. Global Music Production Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
On-Premise
Cloud-Based
6.3. Global Music Production Software Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Artists
Musicians
Entertainment
Education
6.4. Global Music Production Software Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Professionals
Non-Professional

7. Music Production Software Market Regional And Country Analysis

7.1. Global Music Production Software Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Music Production Software Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Music Production Software Market

8.1. Asia-Pacific Music Production Software Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Music Production Software Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Music Production Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific Music Production Software Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Music Production Software Market

9.1. China Music Production Software Market Overview
9.2. China Music Production Software Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Music Production Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China Music Production Software Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Music Production Software Market

10.1. India Music Production Software Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Music Production Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Music Production Software Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Music Production Software Market

11.1. Japan Music Production Software Market Overview
11.2. Japan Music Production Software Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Music Production Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.4. Japan Music Production Software Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Music Production Software Market

12.1. Australia Music Production Software Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Music Production Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Music Production Software Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Music Production Software Market

13.1. Indonesia Music Production Software Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Music Production Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Music Production Software Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Music Production Software Market

14.1. South Korea Music Production Software Market Overview
14.2. South Korea Music Production Software Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Music Production Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.4. South Korea Music Production Software Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Music Production Software Market

15.1. Western Europe Music Production Software Market Overview
15.2. Western Europe Music Production Software Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Music Production Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe Music Production Software Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Music Production Software Market

16.1. UK Music Production Software Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Music Production Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Music Production Software Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Music Production Software Market

17.1. Germany Music Production Software Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Music Production Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Music Production Software Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Music Production Software Market

18.1. France Music Production Software Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.2. France Music Production Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.3. France Music Production Software Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Music Production Software Market

19.1. Italy Music Production Software Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.2. Italy Music Production Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.3. Italy Music Production Software Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Music Production Software Market

20.1. Spain Music Production Software Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.2. Spain Music Production Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.3. Spain Music Production Software Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Music Production Software Market

21.1. Eastern Europe Music Production Software Market Overview
21.2. Eastern Europe Music Production Software Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Music Production Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe Music Production Software Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Music Production Software Market

22.1. Russia Music Production Software Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Music Production Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Music Production Software Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Music Production Software Market

23.1. North America Music Production Software Market Overview
23.2. North America Music Production Software Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Music Production Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America Music Production Software Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Music Production Software Market

24.1. USA Music Production Software Market Overview
24.2. USA Music Production Software Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Music Production Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA Music Production Software Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Music Production Software Market

25.1. Canada Music Production Software Market Overview
25.2. Canada Music Production Software Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Music Production Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada Music Production Software Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Music Production Software Market

26.1. South America Music Production Software Market Overview
26.2. South America Music Production Software Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Music Production Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America Music Production Software Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Music Production Software Market

27.1. Brazil Music Production Software Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Music Production Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Music Production Software Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Music Production Software Market

28.1. Middle East Music Production Software Market Overview
28.2. Middle East Music Production Software Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Music Production Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East Music Production Software Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Music Production Software Market

29.1. Africa Music Production Software Market Overview
29.2. Africa Music Production Software Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Music Production Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa Music Production Software Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Music Production Software Market Competitive Landscape And Company Profiles

30.1. Music Production Software Market Competitive Landscape
30.2. Music Production Software Market Company Profiles
- 30.2.1. Apple Inc.
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1.4. Financial Performance
- 30.2.2. Adobe Inc.
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2.4. Financial Performance
- 30.2.3. Yamaha Corporation
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3.4. Financial Performance
- 30.2.4. MAGIX Software GmbH
  - 30.2.4.1. Overview
  - 30.2.4.2. Products and Services
  - 30.2.4.3. Strategy
  - 30.2.4.4. Financial Performance
- 30.2.5. Ableton AG
  - 30.2.5.1. Overview
  - 30.2.5.2. Products and Services
  - 30.2.5.3. Strategy
  - 30.2.5.4. Financial Performance

31. Music Production Software Market Other Major And Innovative Companies

31.1. Universal Audio
31.2. Steinberg Media Technologies GmbH
31.3. Image Line Software
31.4. Serato
31.5. Arturia SA
31.6. PreSonus Audio Electronics Inc.
31.7. Reason Studios
31.8. Celemony Software GmbH
31.9. Waves Audio Ltd.
31.10. Native Instruments USA Inc.
31.11. Cakewalk Inc.
31.12. NCH Software
31.13. Acoustica Inc.
31.14. Bitwig GmbH
31.15. Cockos Incorporated

32. Global Music Production Software Market Competitive Benchmarking

33. Global Music Production Software Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Music Production Software Market

35. Music Production Software Market Future Outlook and Potential Analysis

35.1 Music Production Software Market In 2028 - Countries Offering Most New Opportunities
35.2 Music Production Software Market In 2028 - Segments Offering Most New Opportunities
35.3 Music Production Software Market In 2028 - Growth Strategies
- 35.3.1 Market Trend Based Strategies
- 35.3.2 Competitor Strategies

36. Appendix

36.1. Abbreviations
36.2. Currencies
36.3. Historic And Forecast Inflation Rates
36.4. Research Inquiries
36.5. The Business Research Company
36.6. Copyright And Disclaimer