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According to the international federation of the photographic industry (IFPI), the global recorded audio music industry grew by 8.1% in 2017, to reach a market value of US$ 18.7 Bn from US$ 17.3 Bn in 2017. Digital audio workstation (DAW) is an electronic system primarily designed for recording, editing, producing audio and playback of digital audio files. Technically, digital audio workstations are exclusively built on silicon material and gallium nitride base to optimize impedance and improve the quality of the sound. The digital audio workstation is loaded with features such as virtual mixers, filters, visual timelines, file-management and organization tools for editing and processing digital audio at a professional level. The digital audio workstation provides central interface capability that allows the user to alter and mix multiple recordings and tracks into a final produced part. Some of the popular digital audio workstations include Pro-Tools, Ableton Live, Adobe Audition, and Machine. Recent development in digital audio workstation includes deployment of technical innovation such as cloud computing and Networked Audio Over IP services in DAWs system.
Adoption of AR&VR technology, rise in digital and analog hybrid systems, growth in audio technology such as remote recording over the internet and increasing demand for cloud computing services are the major drivers expected to grow the digital audio workstation market. Further, drivers such as rising adoption of Audio as a Service (AaaS), AI technology and advance audio interfaces might have expected to drive the growth of the market. Adoption of audio cloud platform in online services is a key factor that drives the growth of this market. In 2018, the partnership between Reaper, Cockos Incorporated and Linux.org was formed with an aim to provide audio editing software enabled with the cloud platform. This partnership would provide features such as supporting multi-track for recording and editing online, offers a diverse variety of tools for storing, mixing, exporting and allows permission to first-party and third-party plugins.
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Some of the key players in global digital audio workstation include BandLab Technologies, MAGIX Software GmbH, Steinberg GmbH, Adobe Systems, Inc., Digital Audio Workstation, Mark of the Unicorn, Ableton Live, Audiotool FL Studio, Apple, Native Instruments, and Harrison Consoles among others.
Segmentation of the Global Digital Audio Workstation Market
· System Integration
· Operating and Maintenance
By OS Compatibility
· Apple OS
· North America (the USA and Canada)
· Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
· Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
· Latin America (Brazil, Mexico and Rest of Latin America)
· Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)
Globally, North America is projected to hold the significant share of the digital audio workstation market during the forecasted period. This growth is due to a progressively expanding the market of digital and analog hybrid audio system market and underlying developing demand of AI platform in the audio workstation. For example, in 2017, Melodrive Inc., received huge funding by Boost VC to develop AI algorithms to manufacture digital audio workstation in the US and Europe.
Key Industry Developments
· In June, 2018, BandLab Technologies acquired Cakewalk Inc. with an aim to deliver professional music software and cutting edge technology. This would provide user to ensure they have access to the best possible services such as Networked Audio Over IP features in music products under the BandLab Technologies.
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