Information Communication and Technology Reports Digital Audio Workstation Industry

Digital Audio Workstation Market worth to be USD 3.1 billion
by 2023 - New Market Research by MarketsandMarkets
According to a new market research report” Digital Audio Workstation Market by Type (Recording, Editing,
Mixing), End User (Professional/Audio Engineers and Mixers, Electronic Musicians, Music Studios), Component,
Deployment Model, Operating Systems, and Region - Global Forecast to 2023", published by
MarketsandMarkets™, The digital audio workstation market size is 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.
The key factors driving the digital audio workstation market include the growing focus on digitization of
instruments and increasing adoption of cloud-based digital audio workstations in the music industry to enhance
the music production process
Browse and in-depth TOC on “Digital Audio Workstation Market”
73 – Tables
31 - Figures
132 - Pages
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The adoption of digital audio workstations is increasing in the media & entertainment and education industries.
Digital audio workstations solutions help musicians, filmmakers, and sound engineers improve the quality of music.
Digitization has taken over the traditional approach of workflows across industries, and the music industry is not
an exception. The industry is increasingly adopting digital audio workstations to improve the music production
process and have better music experience. In the DAW market, key players such as Apple, Adobe, Ableton, Avid
offer combined hardware and software systems which help customers to create the best quality music. The
increasing rapidly adoption of digital audio workstations is helping artists, music producers, and other users
produce and share high-quality music.
The software segment in digital audio workstation market is expected to account for a larger market size as
compared to the services segment during the forecast period. The increasing need to produce and store high-
quality music leads to the growing adoption of digital audio workstation software. Music directors, sound
engineers, composers, and artists are the major users of digital audio workstations. These workstations help
improve the quality of music being produced. Digital audio workstations include software to perform several
activities, including recording, editing, mixing, mastering, etc. The software included in digital audio workstations
can have varied user interfaces. Computer-based digital audio workstations tend to have a standard layout that
encompasses transport controls, including play, rewind, and record. They also have track controls, a mixer, and a
waveform display. Digital audio workstation software are widely used, even by independent musicians and small-
scale music production companies as they cut down the hardware investment and offer results similar to
hardware-based workstations.
The services segment is anticipated to grow at a higher CAGR as compared to the software segment during the
forecast period. The implementation and consulting services subsegment of the professional services segment is
estimated to grow at a higher CAGR of 9.8% as compared to the managed services segment during the forecast