Music Production System Global Market Report 2024

Description

A music production system encompasses a comprehensive array of hardware and software tools utilized for recording, editing, mixing, and producing music and audio tracks. This system provides a platform for musicians and audio professionals to craft professional-grade music and audio productions with ease. The primary objective of a music production system is to streamline the music-making process by offering a diverse range of tools and features geared towards creating high-quality music.

The key components of music production systems include software, hardware, and associated services. Software comprises computer programs enabling users to compose, edit, mix, and produce music digitally. It caters to various applications such as recording studios, home studios, and live performances, available through online and offline distribution channels. These tools are utilized by a broad spectrum of end-users including musicians, producers, and educational institutions.

The music production system market research report is one of a series of new reports from The Business Research Company that provides music production system market statistics, including the music production system industry global market size, regional shares, competitors with music production system market share, detailed music production system market segments, market trends, and opportunities, and any further data you may need to thrive in the music production system industry. These music production system market research reports deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The music production system market size has grown strongly in recent years. It will grow from $5.90 billion in 2023 to $6.42 billion in 2024 at a compound annual growth rate (CAGR) of 8.7%. The growth observed in the historical period can be attributed to factors such as the increased adoption of DJ software, the expansion of streaming services, the growth of the digital audio production industry, the emergence of budget-friendly music production systems, and an increase in the number of home studio setups.

The music production system market size is expected to see strong growth in the next few years. It will grow to $9.05 billion in 2028 at a compound annual growth rate (CAGR) of 9.0%. The anticipated growth in the forecast period can be attributed to several factors, including the growing popularity of digital audio content, the rising demand for professional audio equipment, an increasing need for multi-track recording capabilities, the emergence of AI-generated music, and a growing usage of audio systems for live events. Major trends expected in the forecast period encompass the adoption of cloud-based music production systems, the integration of AI-driven tools, enhanced mobile integration, exploration of blockchain technology applications, and a transition towards subscription-based pricing models.

The burgeoning popularity of digital audio content is anticipated to be a significant driver in propelling the growth of the music production system market. Digital audio content encompasses sound recordings, music, or any other audio material that has been digitized and stored in a digital format. Factors such as convenience, the widespread use of smart devices, and the increasing popularity of audiobooks contribute to the growing demand for digital audio material. Music production systems play a pivotal role in creating, editing, and manipulating digital audio content for various media applications. Music producers leverage digital audio content, including recorded instrument tracks, samples, loops, and synthesizer patches, to craft musical arrangements, melodies, harmonies, and rhythms. For example, data from WordsRated in June 2023 indicates that audiobook sales generated over $1.81 billion in revenue in the United States in 2022, marking a 3.43% growth compared to 2021. Consequently, the rising popularity of digital audio content is driving the growth of the music production system market.

Leading companies in the music production system market are strategically focusing on developing solutions incorporating advanced technological solutions, such as artificial intelligence (AI) music production software plugin tools, to empower music producers in composing new music pieces. AI music production software plugin tools integrate AI technology into digital audio workstations (DAWs) or music production software, enhancing the creative process, automating tasks, and generating musical elements. For instance, DigiTraxAI, a US-based music AI company, launched KR38R PRO in November 2023, the first AI music production software plugin tool. KR38R PRO integrates with major DAWs and features robust algorithms for producing, remixing, and modifying musical compositions, streamlining workflow and offering dynamic control over music through motion and flow sliders. Moreover, its central dice button enables randomization, enabling musicians to explore countless musical possibilities. Developed over seven years of human-AI collaboration, KR38R PRO leverages music theory to provide composers and producers with instantaneous creative opportunities.

In November 2023, Symphony Technology Group (STG), a US-based private equity firm, made a significant acquisition by purchasing Avid Technology Inc. for $1.4 billion. This acquisition aimed to reshape the music system landscape, fostering increased innovation and improved offerings for musicians, producers, and composers globally. By leveraging STG's financial resources and strategic expertise, Avid Technology Inc., a US-based provider of digital non-linear music production software and hardware, is poised to enhance its position as a leading producer of music production systems.

Major companies operating in the music production system market are Apple Inc., Sony Group Corporation, Yamaha Corporation, Symphony Technology Group (STG), Magix Software GmbH, Ableton AG, Universal Audio, Steinberg Media Technologies GmbH, Image Line Software, Arturia SA, Serato, PreSonus Audio Electronics Inc., Celemony Software GmbH, Waves Audio Ltd., Native Instruments USA Inc., NCH Software, Acoustica Inc., Tracktion Software Corporation, Renoise, Cockos Incorporated, BandLab Technologies, Bitwig GmbH, MuTools, MOTU Inc., and Zynewave.

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

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

The music production system market consists of revenues earned by entities by providing services such as sample libraries, plug-ins and effects, sound libraries, music production courses, and studio services. The market value includes the value of related goods sold by the service provider or included within the service offering. The music production system market also includes sales of products such as computers, studio monitors, microphones, rack-mounted gear, and audio interfaces. 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.

Music Production System 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 system 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 system ? 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 system 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: Software; Hardware; Services
2) By Application: Recording Studios; Home Studios; Live Performance
3) By Distribution Channel: Online; Offline
4) By End User: Musicians; Producers; Educational Institutions
Companies Mentioned: Apple Inc.; Sony Group Corporation; Yamaha Corporation; Symphony Technology Group (STG); Magix Software GmbH
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: r17990

1. Executive Summary

2. Music Production System Market Characteristics

3. Music Production System Market Trends And Strategies

4. Music Production System 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 System Market Size and Growth

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

6. Music Production System Market Segmentation

6.1. Global Music Production System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Software
Hardware
Services
6.2. Global Music Production System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Recording Studios
Home Studios
Live Performance
6.3. Global Music Production System Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Online
Offline
6.4. Global Music Production System Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Musicians
Producers
Educational Institutions

7. Music Production System Market Regional And Country Analysis

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

8. Asia-Pacific Music Production System Market

8.1. Asia-Pacific Music Production System 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 System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Music Production System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific Music Production System Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Music Production System Market

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

10. India Music Production System Market

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

11. Japan Music Production System Market

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

12. Australia Music Production System Market

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

13. Indonesia Music Production System Market

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

14. South Korea Music Production System Market

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

15. Western Europe Music Production System Market

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

16. UK Music Production System Market

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

17. Germany Music Production System Market

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

18. France Music Production System Market

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

19. Italy Music Production System Market

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

20. Spain Music Production System Market

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

21. Eastern Europe Music Production System Market

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

22. Russia Music Production System Market

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

23. North America Music Production System Market

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

24. USA Music Production System Market

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

25. Canada Music Production System Market

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

26. South America Music Production System Market

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

27. Brazil Music Production System Market

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

28. Middle East Music Production System Market

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

29. Africa Music Production System Market

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

30. Music Production System Market Competitive Landscape And Company Profiles

30.1. Music Production System Market Competitive Landscape
30.2. Music Production System 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. Sony Group Corporation
  - 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. Symphony Technology Group (STG)
  - 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. Magix Software GmbH
  - 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 System Market Other Major And Innovative Companies

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

32. Global Music Production System Market Competitive Benchmarking

33. Global Music Production System Market Competitive Dashboard

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

35. Music Production System Market Future Outlook and Potential Analysis

35.1 Music Production System Market In 2028 - Countries Offering Most New Opportunities
35.2 Music Production System Market In 2028 - Segments Offering Most New Opportunities
35.3 Music Production System 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