High Demand for OTT Content amid COVID-19 Pandemic to Accelerate Growth of Digital Audio Workstations (DAWs) Market, Study by TMR

- Growing focus on OTT content and adoption of latest technologies in the music industry will assure promising growth opportunities in the digital audio workstations (DAWs) market

- The global market for digital audio workstations is estimated to expand at a CAGR of 9.8% during the forecast period

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Transparency Market Research

Aug 27, 2021, 08:30 ET

ALBANY, N.Y., Aug. 27, 2021 /PRNewswire/ -- Digital Audio Workstations Market: Growth Summary

The digital audio workstations (DAWs) market is expected to observe stable growth during the forecast period of 2020-2030. The rising music consumption and creation patterns will serve as a prominent contributor to the market growth. The digital entertainment sector has risen substantially over the years. This factor will further offer immense growth prospects for the digital audio workstations market.

The popularity of these workstations is growing at a rapid rate. In the current scenario, vendors in the digital audio workstations (DAWs) market are focusing on attracting consumers by offering upgrades and new features. In addition, the vendors are also trying to design good pricing strategies for positively influencing the sales growth. These factors assure promising growth for digital audio workstations (DAWs) market.

A digital audio workstation is a software program used for creating music. It is an electronic network created for facilitating editing, recording, and playing digital audio files. It comprises a central interface that allows the user to alter and mix multiple tracks. The media industry has witnessed substantial advancements over the years. Extensive technological advancements in the entertainment industry and emergence of multiple platforms such as YouTube have propelled the demand for superior quality audio and video recording. This aspect will have a profound impact on the growth trajectory of the digital audio workstations market.

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Transparency Market Research has conducted a comprehensive analysis on numerous aspects associated with the expansion of the digital audio workstations market. The TMR experts expect the global market for digital audio workstations to expand at a CAGR of 9.8% during the forecast period. The digital audio workstations (DAWs) market is projected to reach US$ 2.26Bn by 2030, according to the TMR experts.

The overwhelming use of digital audio workstations in the entertainment industry will bring significant profitable opportunities for the digital audio workstations (DAWs) market players. The extensive demand for technologically advanced computing devices for video and audio mixing will further driver the market. In addition, the rise in music content and demand for consumer electronics across many regions is anticipated to result in exponential growth of the digital audio workstations market.

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Key Findings of Report

Rising Popularity of OTT Content to Boost Growth Opportunities in Digital Audio Workstations Market

OTT platforms have gained immense popularity during the ongoing COVID-19 pandemic. Many countries across the globe imposed strict stay-at-home orders for limiting the transmission of the COVID-19 pandemic. This resulted in high demand for digital content. Moreover, numerous music producers and content creators are adopting digital audio workstations at an accelerated pace, owing to the extensive demand for digital content. These factors are likely to fuel the growth of the digital audio workstations market.

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Software-based Digital Audio Workstations to Witness Rapid Growth

Although standalone digital audio workstations have witnessed a rise in sales over the years, the demand for software-based digital audio workstations is expected to surge. The increasing use of software-based workstations due to the addition of novel features and upgrades by the market players at minimal prices will influence the sales of software-based digital audio workstations. These factors are anticipated to offer growth opportunities in the digital audio workstations market.

Some well-established players in the digital audio workstations (DAWs) market are Cockos Incorporated, Native Instruments GmbH, BandLab Technologies, Adobe Systems, Inc., Avid Technology, Inc., PreSonus Audio Electronics Inc., and MOTU, Inc.

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Global Digital Audio Workstations (DAWs) Market – Segmentation

By Component

Software

Standalone
Suite

Services

System Integration
Operating & Maintenance

By OS Compatibility

Mac
Windows
Others (Android, Linux, iOS, etc.)

By Software Deployment

On-premise
Cloud

By End Use

Commercial

Professorial
Music Industry

Non-commercial

Education
Enterprises

By Region

North America
Mexico
Asia Pacific
Middle East and Africa
South America

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