The music production software market report considers the revenue generated from the software type such as editing, mixing, and recording. Music refers to a sound that is arranged in a continuous form that expresses an idea or an emotion through rhythm, melody, and harmony. It is produced by singing or playing a musical instrument. Music came into existence at least 55,000 years ago. There are different types of music, some of the most popular ones are classical, blues, hip-hop, electro dance music (EDM), jazz, instrumental, pop, opera, rock, vocal, and electronic music. Music production software, also known as a digital audio workshop (DAW), is a software used for digital recording, musical composition, and creating electronic music and other musical applications. —
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The analysts forecast global music production software market to grow at a CAGR of 9.01% during the period 2017-2021. The latest trend gaining momentum in the market is Availability of free learning materials on web. With advances in web technology, a number of online and tutorial sites use videos, reference articles, and other teaching methodologies to help individuals to learn mixing and editing of songs. This has also simplified the learning process for individuals who have busy work schedules and do not find time to join classes despite their passion for learning music editing. This also helps individuals who cannot afford to pay a high fee for these music classes by offering courses at no or minimal cost. Hence, the availability of learning materials online encourages individuals to purchase music editing software, driving the market during the forecast period.
According to the music production software market report, one of the major drivers for this market is Increasing adoption of software by DJs for song mixing. Advances in technology have led to the development of advanced mobile-based software that helps a user mix and compose tracks. For instance, DJs use Tractor and Serato, a live performance music software, along with DAW or music production software such as Ableton Live and Logic Pro, to make beats and put the mixes all together. These software are compatible with the hardware of a number of DJ consoles belonging to different brands. These allow easy plug and play options by importing songs from a local device. Therefore, with the growing number of DJs across the globe, the adoption of music production software is likely to grow during the forecast period.
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Key players in the global music production software market: Ableton, Cakewalk, PreSonus Audio Electronics, and Steinberg Media Technologies. Other Prominent Vendors in the market are: Apple, Avid Technology, Cockos, FL Studio, MOTU, and Propellerhead Software.
Further, the report states that one of the major factors hindering the growth of this market is Declining interest in learning music. Music is one of the oldest professions and is considered as a huge source of entertainment. However, due to the emergence of alternative forms of entertainment such as smartphones and social media, people are taking less interest in learning music. In 1985, 40% of the world's population took at least one music class in their lifetime compared with 28% in 2015. Another reason for the decline is decrease in number of schools teaching music. Due to this, the passion for music is not built from a young age, hindering the sales of music production software.
List of Exhibits
Exhibit 01: Global music production software market
Exhibit 02: Global music production software market 2016-2021 ($ billions)
Exhibit 03: Five forces analysis
Exhibit 04: Global music production market by type 2016 (% revenue)
Exhibit 05: Global music production market by type 2016-2021 (% revenue)
Exhibit 06: Global music production software market by editing 2016-2021 ($ billions)
Exhibit 07: Global music production software market by mixing 2016-2021 ($ billions)
Exhibit 08: Global music production software market by recording 2016-2021 ($ billions)
Exhibit 09: Global music production software market by end-users 2016 (% revenue)
Exhibit 10: Global music production software market by end-users 2016-2021 (% revenue) and more..
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