Music Production Software Industry report for 2018-2024 Music Production Software Market | Page 2

due to the availability of the software at various affordable price ranges. Casual users
use this software for learning, analyzing, editing, and broadcasting music.
North America holds a significant share of global music production software market
due to the increasing popularity of paid streaming services and various government
initiatives to aid the music industry. For instance, CIMA (Canadian Independent Music
Association) advocates policies and initiatives, such as Canada Stand, Canada
House, and CIMA Music Mission, to promote Canadian music in international markets
to ensure the long-term development of the sector.
Market research reports: Key analytical components
Asia Pacific music production market growth is fueled by the emergence of the digital
landscape and the constantly-improving internet connectivity. The increasing usage of
Big Data by music streaming service providers leads to more informed and effective
advertising messages. Moreover, the growing number of regional players, such as
KKBox, JOOX, and Yonder, continue to fetch a large market share of the online music
industry. In contrast, low average subscription revenue and prevalence of low-end
smartphones among mass-market consumers will hamper the market growth in a few
countries.
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