Music Production Software Market by Type, End-users, and Geography - Forecast and Analysis 2020-2024
Global Music Production Software Market: About this market
Technavio’s music production software market analysis considers sales from editing, mixing, and recording types. Our study also finds the sales of music production software in APAC, Europe, MEA, North America, and South America. In 2019, the editing segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as an increasing number of film and music album releases will play a significant role in the editing segment to maintain its market position. Also, our global music production software market report looks at factors such as the rising number of musicians and artists, growing demand for digital audio content, and increasing adoption of DJ software to produce music. However, the easy availability of open-source software, the requirement of skillset to use music production software, and bug issues in music production software may hamper the growth of the music production software industry over the forecast period.
Global Music Production Software Market: Overview
Increasing adoption of DJ software to produce music
The growing popularity of live events, concerts, and EDM is encouraging people to increase the use of DJ software to create personal remix tracks. Many musicians and DJs are also adopting the software to create their versions of various tracks. In addition, the rising use of DJ music in places such as hotels, restaurants, shopping malls, and social gatherings has further accelerated the use of DJ software and equipment to mix audio songs. These factors are increasing the adoption of DJ software, which will lead to the expansion of the global music production software market at a CAGR of almost 9% during the forecast period.
Growing use of AI for music production
The integration of AI automates the music production process by imitating the cognitive skills required to produce music by discovering and learning the patterns of music production. This is driving many musicians and artists to rely on software backed with AI to compose music. Musicians and producers are increasingly using AI-based music composing tools with music production software to refine human-generated music through editing and mastering. This development is expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global music production software market during the forecast period 2020-2024, click here.
With the presence of several major players, the global music production software market is fragmented. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading music production software manufacturers, that include Ableton AG, Adobe Inc., Apple Inc., Avid Technology Inc., Cockos Inc., Image Line Software NV, MAGIX Software GmbH, PreSonus Audio Electronics Inc., Reason Studios AB, and Steinberg Media Technologies GmbH.
Also, the music production software market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
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