The Digital Audio Workstation Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Digital Audio Workstation Global Market Report 2024, The digital audio workstation market size has grown strongly in recent years. It will grow from $2.68 billion in 2023 to $2.95 billion in 2024 at a compound annual growth rate (CAGR) of 9.9%. The growth in the historic period can be attributed to industry standardization, real-time performance, professional studio simulation, mobile daw solutions, educational resources..
The digital audio workstation market size is expected to see strong growth in the next few years. It will grow to $4.24 billion in 2028 at a compound annual growth rate (CAGR) of 9.5%. The growth in the forecast period can be attributed to cloud-based solutions, remote collaboration tools, enhanced user interfaces.. Major trends in the forecast period include accessibility and inclusivity initiatives, integration with digital platforms, specialized industry-focused solutions, real-time performance and live music production, machine learning for composition and arrangement.
The growing demand for high-definition audio drives the digital audio workstation market forward. High-definition audio is a high bandwidth audio signal used in recorded music. Digital audio workstations come with a feature to produce high-definition audio. For instance, in 2021, according to the state of the sound report by Qualcomm, an American manufacturer of semiconductor devices, software, and technologies, 55% of the respondents agreed that they were likely to subscribe to an HD streaming service and 53% of the respondents were looking for either high-resolution or lossless audio quality. 51% of the respondents agreed that sound quality was the most important factor when buying truly wireless earbuds. Therefore the increasing demand for high-definition audios drives the growth of the digital audio workstation market forward.
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The digital audio workstation market covered in this report is segmented –
1) Digital Audio Workstation Market By Type: Editing, Mixing, Recording
2) Digital Audio Workstation Market By Component: Software, Services
3) Digital Audio Workstation Market By Deployment: On-Premises, Cloud
4) Digital Audio Workstation Market By Operating System: Mac, Windows, Android, Linux
5) Digital Audio Workstation Market By End User: Professionals/Audio Engineers and Mixers, Songwriters and Production teams, Electronic Musicians, Artists/Performers, Education Institutes, Music Studios, Others End users
Top Major Players
Technological advancements are a key trend gaining popularity in the digital audio workstation market. Major companies in the market are launching new technologies such as the new ‘CoSo app’ to sustain their position in the market. For instance, in May 2022, Splice, a New York-based designer and developer of technologies for music creators, launched its new app ‘CoSo’. The new app is based on AI technology for making beats and music. It has various features such as social integration to share the creation directly on social media.
The digital audio workstation market report table of contents includes:
1. Executive Summary
2. Digital Audio Workstation Market Characteristics
3. Digital Audio Workstation Market Trends And Strategies
4. Digital Audio Workstation Market – Macro Economic Scenario
5. Global Digital Audio Workstation Market Size and Growth
….
31. Global Digital Audio Workstation Market Competitive Benchmarking
32. Global Digital Audio Workstation Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Digital Audio Workstation Market
34. Digital Audio Workstation Market Future Outlook and Potential Analysis
35. Appendix
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