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Digital Audio Workstation Market Predicted To Grow USD 3.1 Billion By 2023, Trends And Forecast Report By Marketsandmarkets™

(IT-NEWSWIRE.COM, June 21, 2022 ) According to a research report "Digital Audio Workstation Market analyze the opportunities in the market for stakeholders and provide the competitive landscape of the market and define, describe, and forecast the digital audio workstation market by type, operating system, deployment model, component, end user, and region. The demand for DAW is expected to grow over the next 5 years, owing to several factors, including the increasing adoption of cloud-based audio workstations and growing digitization of instruments. Increasing demand for AI-generated music, growing media & entertainment industry, and increasing adoption of Android-based operating systems are the key growth factors for the market. The global digital audio workstation market expected to grow from USD 2.0 billion in 2018 to USD 3.1 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 9.2% during the forecast period.

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Editing segment to hold the largest market size during the forecast period
The editing segment is expected to constitute the largest market size during the forecast period due to the widespread adoption of digital audio workstation software across end users in different regions. It proves to be a vital solution for musicians to easily and quickly edit the audio files more effectively. It also provide a robust feature set for audio editing. The sets include basic functionalities such as cut, copy, paste, delete, and insert as well as advanced functionalities such as silence, auto-trim, compression, and pitch shifting. The DAW enable users to reduce noises in recordings, create noise-free music pieces, and restore audio.
Android operating system segment to grow at the highest CAGR in Digital Audio Workstation Market during the forecast period
Increasing demand for Android-supported DAW solutions drives the key players to focus on developing such solutions. Android is noticed to be gaining a major share in the developing countries of Asia Pacific, specifically in China and India. The Android operating system offers better hardware support and more choices for applications at an affordable cost. It also provides easy and user-friendly interface. Hence, the Android-supported workstations are being widely used by independent music producers, hobbyists, and performers to refine their music at an effective cost.
Professional audio engineers to account for the largest market size during the forecast period
Audio engineers set up and test sound equipment before events, broadcasts, and recordings and help produce music by balancing and adjusting sound sources using equalization and audio effects mixing , reproduction, and strengthening of sound. Sound engineers are professionals who use digital audio workstations to record, edit, mix, and master music to improve sound quality and add sound effects to recordings. These workstations enable sound engineers to work with video editors and synchronize video with audio tracks. Developing regions such as Asia Pacific, Middle East & Africa, and Latin America have witnessed increased adoption of digital audio workstations by sound engineers for various applications.

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North America to account for the largest market size during the forecast period
The global digital audio workstation market by region covers five major regions: North America, Asia Pacific (APAC), Europe, Middle East and Africa (EMEA), and Latin America. North America constitutes the highest market share, owing to the early adoption of advanced technology solutions as well as initiatives taken by vendors to reach the end user base. The US and Canada are witnessing increased adoption of advanced technologies, including Android and Linux operating systems.
Key Market Players
Major vendors, such as Apple (US), Adobe (US), Avid (US), Steinberg (Germany), Ableton (Germany), MOTU (US), Acoustica (US), Native Instruments (Germany), MAGIX (Germany), Presonus (US), Cakewalk (US), Inage Line Software (Belgium), Bitwig (Germany), Renoise (Germany), and Harrison Consoles (US). The study includes in-depth competitive analysis of these key players in the global market with their company profiles, recent developments, and key market strategies.
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441





MarketsandMarkets™

Mr. Aashish Mehra

1-888-600-6441

raviraj.tak@marketsandmarkets.com

Source: EmailWire.Com



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