ALBANY, New York, June 15, 2018 /PRNewswire/ --
According to a new market report pertaining to the digital audio workstations (DAWs) market published by Transparency Market Research, the global digital audio workstations (DAWs) market is expected to reach US$ 16,454.9 Mn by 2026, expanding at a CAGR of 8.8% from 2018 to 2026. According to the report, the global market will continue to be influenced by a range of macroeconomic and industry-specific factors. North America will continue to be at the forefront of global demand, with the market in the region growing at above 8.2% through 2026. Technical advancements, increased digitization, and presence of large number of digital audio workstation manufacturers are anticipated to significantly influence the growth of the digital audio workstations market across the North America region.
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Growing significance of media and entertainment industry and increasing number of DJs across the world are driving the global digital audio workstations (DAWs) market
Increasing adoption of DAW systems for recording, editing, and producing audio files is expected to boost the growth of the overall market in the coming years. The ability of DAWs software to offer a cost effective and efficient recording system is fueling demand for them. Besides, easy availability of free learning material on different websites is expected to boost the demand for DAW software across the different application areas over the forecast period. Increased presence of a number of digital audio workstation manufacturers and post-sale service providers across regions has led to subsequent rise in demand for digital audio workstations which is likely to supplement the market growth during the forecast period.
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In the digital audio workstations market, both North America and Europe are matured markets due to high awareness among users and technological developments. However, South America is expected to witness strong growth during the forecast period from 2018 to 2026. Rising penetration of technology as well as significant investment in music production from media and entertainment industry across countries such as the U.S., U.K, Germany, France, China, India, South Africa, and Brazil is anticipated to offer prominent opportunities for digital audio workstation providers in the near-term.
Digital Audio Workstations Market: Scope of the Report
The global digital audio workstations market is broadly segmented by component into software and services. According to the research study, the software segment held the maximum market share and is anticipated to remain dominant over the forecast period in terms of revenue. The software segment is further sub-segmented into stand-alone and suite. The suite segment accounted for largest market share globally followed by stand-alone in terms of revenue. Moreover, suite software based digital audio workstations segment is expected to expand significantly over the forecast period. Service segment is also further categorized into system integration, and operating and maintenance. Among the sub segments, operating and maintenance accounted for major share of the global DAWs market and is projected to maintain its leading position over the forecast period. The research study includes digital audio workstations market analysis by regions segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
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Based on OS compatibility, Mac OS segment accounted for major market share in the global market in 2017, followed by Windows OS. Mac OS segment is projected to expand at a significant pace during the forecast period from 2018 to 2026. Based on deployment, the global digital audio workstations (DAWs) market is categorized into on-premise and cloud. As per the research study, cloud segment accounted for the leading market share in 2017 and is expected to retain its market dominance over the forecast period. Moreover, this segment is projected to expand at a significant pace during the forecast period from 2018 to 2026. The DAWs market is also segmented by end-use sectors into commercial and non-commercial. Commercial sector is segmented into professional and music industry. Commercial segment accounted for major market share in 2017 and is projected to expand significantly over the forecast period due to wide adoption of DAWs software among professional music producers such as DJs, gaming, and video production houses. On the other hand, the non-commercial sector is further categorized into education and enterprises.
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North America held the largest market revenue share of the digital audio workstations (DAWs) market in 2016 and is anticipated to expand at a CAGR of 8.2% during the forecast period. The U.S. held majority of revenue share of the North America digital audio workstations (DAWs) market, followed by Canada in 2016. However, in terms of growth rate, South America and Asia Pacific are anticipated to show strong CAGR over the forecast period.
Global Digital Audio Workstations (DAWs) Market: Competitive Dynamics
The research study includes profiles of leading companies operating in the global digital audio workstations (DAWs) market. Profiles of market players highlight company business overview, broad financial overview, business strategies, and recent developments. Some of the key players in the digital audio workstations (DAWs) market as profiled in the study are Ableton AG, Acoustica, Inc., Avid Technology, Inc., Cakewalk, Inc., BandLab Technologies, Presonus Audio Electronics Inc., MAGIX Software GmbH, Steinberg GmbH, Adobe Systems, Inc., and Mark of the Unicorn among others.
Digital Audio Workstations (DAWs) Market, by Component
- System Integration
- Operating and Maintenance
Digital Audio Workstations (DAWs) Market, by OS Compatibility
- Others (Android, Linux, Etc.)
Digital Audio Workstations (DAWs) Market, by Deployment
Digital Audio Workstations (DAWs) Market, by End-use
- Music Industry
In addition, the report provides analysis of the digital audio workstations (DAWs) market with respect to the following geographic segments:
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific (APAC)
- Rest of APAC
- Middle East & Africa (MEA)
- South Africa
- Rest of MEA
- South America
- Rest of South America
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