(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.
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Mr. Aashish Mehra
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Mr. Aashish Mehra