Digital Audio Workstation Market Analysis Revealing Key Drivers & Growth Trends through 2023
Accordingto a new market research report ”DigitalAudio 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 to2023", published by MarketsandMarkets™, The digital audioworkstation market size is expected to grow from USD 2.0 billion in 2018 to USD3.1 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 9.2% during theforecast period.
Thekey factors driving the digital audio workstation market include the growingfocus on digitization of instruments and increasing adoption of cloud-baseddigital audio workstations in the music industry to enhance the musicproduction process
Browse73 market data Tables and 31 Figures spread through 132 Pages and in-depth TOCon "Digital AudioWorkstation 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 to2023"
The services segment of the market is anticipated to grow at ahigher CAGR as compared to software segment during the forecast period.
Implementationand consulting services sub segment is estimated to grow at a higher ascompared to the managed services sub segment during the forecast period. Thisgrowth is expected to be driven by the increased demand for digital audioworkstations across the media & entertainment and education industries.Services are an essential part of the software deployment and executionlifecycle. Services, including consulting, product support, updates, andmaintenance, are required at various stages, starting from pre-salesrequirement assessment to post-sales product deployment and execution, thusenabling the client to get better return on investment (RoI).
The professionals/audio engineers and mixers segment is expectedto account for the largest market size during the forecast period.
Thedigital audio workstation market has been segmented based on type into editing,mixing, and recording. Audio engineers set up and test sound equipment beforeevents, broadcasts, and recordings. Digital audio workstations help soundengineers produce music by balancing and adjusting sound sources usingequalization and audio effects mixing, reproducing, and strengthening thesounds. Sound engineers are professionals who use digital audio workstations torecord, edit, mix, and master music to improve sound quality and add soundeffects to recordings. These workstations enable sound engineers to work withvideo editors and synchronize video with audio tracks.
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