Digital Audio Workstation Market to Grow at 8.9% CAGR over 2024 to 2032; Imagine Marketing Partnered with Dirac to Strengthen Industry Position

The global digital audio workstation market size stood at USD 2.95 billion in 2023. The market value is slated to rise from USD 3.21 billion in 2024 to USD 6.34 billion by 2032 at a CAGR of 8.9% during 2024-2032. The surge is due to the growing product adoption and an array of features such as organization tools, graphic timelines, virtual mixtures, and filters.

Fortune Business Insights™ cites this information in its report titled “Digital Audio Workstation Market Size, Share & COVID-19 Impact Analysis, By Component (Software and Services), By OS Compatibility (Apple OS, Windows, Android, and Linux), By Deployment (On-premise and Cloud), By End-user (Commercial and Individual), and Regional Forecast, 2024-2032”.

Emergence of OTT Platforms Propelled Product Demand Amid COVID-19 Pandemic

The pandemic period recorded an upsurge in the digital media demand across various regions. The period witnessed an escalating demand for streaming news, content, and podcasts. The market growth was impelled by an increase in demand for AI-driven music, surging adoption of cloud-based DAWs, and the escalating demand for HD video and audio.

Bitwig Launched Bitwig Studio 4.2.3 to Secure Competitive Edge

In April 2022, Bitwig rolled out an improved version of its flagship DAW, Bitwig Studio 4.2.3. It has a prominent feature of Studio 4 constituted audio comping that allows users to establish numerous lanes, record audio, and compose each clip in a clip mode by deploying a single take.

Increase in Market Share Driven by Growing Popularity of Podcasts

The digital audio workstation market share is set to register considerable growth throughout the forecast period. The industry expansion is propelled by the escalating consumption of audio media. The technology offers users the ability to edit and record their podcasts.

However, some enterprises provide free solutions. This is expected to affect the revenues of industry players that provide license-based and subscription services. This is likely to affect industry expansion to a considerable extent.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/industry-reports/digital-audio-workstation-market-100150

Key Companies Ink Collaborative Agreements to Expand Product Reach

Major industry participants enter into strategic collaborations for strengthening the positions of their businesses. These include acquisitions, merger agreements, and the launch of new solutions. Some of the other steps comprise an upsurge in research activities and the development of new products.

Key Players Profiled in the Report:

• Apple Inc. (U.S.)
• Avid Technology, Inc. (U.S.)
• Yamaha Corporation (Japan)
• Adobe (U.S.)
• Ableton (Germany)
• Bitwig GmbH (Germany)
• BandLab Technologies (Singapore)
• Dirac Research AB (Sweden)
• PreSonus Audio Electronics, Inc. (U.S.)
• Native Instruments GmbH (Germany)

 Key Industry Developments

• April 2022 – Imagine Marketing Limited entered into a partnership with Dirac for the enhancement of its digital audio solutions. The partnership will allow boAt’s signature sound for creating an iconic headphone product.
• March 2022 – Steinberg launched its upgraded version of Cubase 12. The new version was rolled out with new features that comprise Apple silicon support, finessed workflow, and a simple sign-in.

Further Report Findings

• The North America digital audio workstation market growth is being propelled by the growing consumption of audio media. This is on account of the presence of major enterprises in the region.
• Europe is expected to register considerable expansion throughout the estimated period. The surge is owing to the rising DAW tool demand.
• On the basis of component, the market for digital audio workstation is segmented into software and services. The software segment is slated to depict substantial growth over the projected period. The expansion is due to the growing demand for massive solution portfolios.
• Based on deployment, the market is subdivided into cloud and on-premise. The cloud segment is expected to record an appreciable surge throughout the analysis period. The growth is due to the surging adoption of advanced technologies such as artificial intelligence, virtual reality, and augmented reality.
• Based on end-user, the market for digital audio workstation is fragmented into commercial and individual. The commercial segment is poised to record substantial expansion over the anticipated period.

Table of Segmentation