"Smart Strategies, Giving Speed to your Growth Trajectory"
The global smartphone music production software market size was USD 73,341 thousands in 2021. The market is projected to grow from USD 78,609 thousands in 2022 to USD 142,692 thousands in 2029, exhibiting a CAGR of 8.9% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with witnessing a higher-than-anticipated demand across all regions compared to pre-pandemic levels. Based on our analysis, the global market exhibited a growth of 6.4% in 2020 as compared to 2019.
The growing interest in creative fields, deeper mobile penetrations, and the integration of artificial intelligence (AI) and machine learning (ML) in the mobile app is driving the growth of the market. AI-powered music production software provides non-professional users a simplified platform to automate and quickly create their music and improve customer experience. Dominant market players are investing in a future where AI creates or assists musicians in creating music.
For instance, in December 2019, Popgun, an AI-music start-up, launched the consumer music-making app Splash. This app is designed for users of all age groups and teenagers to make AI-powered music. This app is available for iOS and Android and can be downloaded free at the app store. This app provides various tools, including basslines, vocals, synths, trigger drums, and more to create unique music tunes.
Mobile App Spending and Downloads Surged Amid Spread of COVID-19
COVID-19 pandemic has forced all businesses to become remote, making it difficult for artists to continue with their usual activities. To overcome this challenge, artists are finding new ways to reach their audience through music production software, live streaming, and social media platforms, which are expected to create lucrative opportunities for the market.
The spread of coronavirus has already had a momentous impact on the mobile app industry and is expected to continue in the years to come. As per the revised 2020-2024 market forecast from Sensor Tower, an app intelligence firm, a sizable increase in app downloads has increased in 2020 and will increase in coming years. In the mid to long term, software companies with strong profit margins and high recurring revenue are expected to experience increased demand. According to the U.S. Bureau of Labor Statistics, the demand for software developers is estimated to grow by 22% between 2020 and 2030. Thus, mobile app spending and downloads surged amid the spread of COVID-19.
Request a Free sample to learn more about this report.
Growing Demand for Cloud-based Music Production Software to Accelerate Market Growth
Cloud-based music production services provide users easy access to large libraries of synthesizer presets, audio samples, synthesizers, and mixing tools. Splice, Noiiz, and Loopcloud are cloud-based music production subscription services that permit users to automatically back up their work on the host’s servers. These services offer royalty-free audio samples, and users are allowed to include these audio samples freely into their songs without any copyright restrictions.
In addition, many key players operating in the market are engaged in developing cloud based smartphone for recording, editing, publishing music video performances, and more. The benefits of using such apps would be unlimited space to store video and audio files on smartphones. For instance,
Thus, the growing demand for cloud technology is expected to fuel the smartphone music production software market growth in the coming years.
Increasing Number of SMEs to Boost Music Production Software Demand
The key players operating in the market are engaged in developing multiple offering for smartphones to enable users to create effortless and creative music tunes. For instance, Roland Corporation offers AX-Edge Editor, Aerophone mini Plus, Beat Sync Maker, Piano Every Day, Aerophone GO Plus, and Aerophone Go Ensemble.
In addition, to provide a superior user experience, such apps are enabled with artificial intelligence (AI) technology and music software programs. AI technology is integrated with music composition, performance, learning, and digital processing to augment human capabilities in the music industry. Thus, the development of the application through AI and ML technologies has immerged as an excellent opportunity for small and medium music firms to rapidly progress with minimal investments.
The growth in the number of start-ups and small businesses across the globe, the number of music production software availability also increases. According to Sensor Tower insights, Asia Pacific accounted for 64% of global mobile app downloads in 2020. The region is anticipated to play a major role in the growth of mobile app downloads. As per the International Finance Corporation (IFC), 40% of SMEs are present in developing countries. Also, as these enterprises are helping in boosting national income and job opportunities, governments worldwide are offering special programs to boost small & medium businesses. Similarly, various big players significantly invest and fund small businesses to expand their business and market expertise. Thus, a growing number of small & medium enterprises boosts the market.
Limited Features and Lack of Performance of App is Expected to Hamper Market Growth
The smartphone music production software offers many benefits that help drive the market growth. However, the phone app lacks certain parameters, which are expected to hinder the market growth. One of the challenges for the market is the interference of the app appears cluttered since it has many hidden components. This factor may result in a delay in the production of music tunes as professionals might require hours to assimilate some of the app's features.
In addition, one of the app's important constraints is lack of performance compared to software used in studios to create music tunes.
Furthermore, smartphone music production software has fewer plugins than apps used in the studio. Thus, the availability of limited features and lack of performance of this type of software are expected to limit the market expansion.
Ongoing Trend of Remix Music to Propel Demand for Mobile App for Mixing in Near Future
Based on type, the market has been categorized into editing, mixing, and recording.
The recording captures maximum market share while mixing is projected to show the highest growth rate during the forecast period.
With music production software, the user can record a voice, multiple tracks or live instruments such as a drum set or acoustic guitar separately or together. Additionally, the ongoing trend of remix music is making mobile music app utilization in mixing tracks. The user can use existing audio tracks and mix them to produce new music. The software comes with advanced features such as reverb, delay, compression, echo trend, virtual studio technology (VST) plugins, and others, thereby allowing artists to produce enhanced and modified music.
Editing is most vital for expressing creativity and talent through professional music. These software has numerous audio editing features and tools such as auto-trim, pitch shifting, cut, copy, paste, delete, and compression.
To know how our report can help streamline your business, Speak to Analyst
Adoption of Music Composition Software by Individual Music Creators to Surge Demand for Mobile App
Based on application, the market is segmented into music production companies, independent musician, and home studios (personal).
Home studios (personal) segment accounts for the largest market revenue share, followed by independent musicians.
Mobile music production software is majorly used by independent singers, musicians, podcasters, and voiceover artists to quickly record and produce professional-quality music from anywhere. Nowadays, independent artists produce music through mobile apps and upload their music projects on online platforms. Thus, an increase in the adoption rate of professional music composition software by social media influencers and individual creators is propelling the demand for mobile music software.
North America Smartphone Music Production Software Market Size, 2021(USD Thousands)
To get more information on the regional analysis of this market, Request a Free sample
Geographically, the market is fragmented into five major regions such as North America, South America, Europe, the Middle East & Africa, and Asia Pacific. They are further categorized into countries.
North America captures maximum market share as it is considered the home to the world’s biggest music market. As per the International Federation of the Phonographic Industry (IFPI), the value of recorded music in the U.S. accounts for one-third of the global market. The app usage in the U.S. surged ahead of the time spent watching live television. Currently, it is estimated that the average American watches 3.7 hours/day watching live TV and spends four hours on their smartphones or mobile devices.
Since the past decade, Europe's music industry has been greatly influenced by digitalization, new business models, and increased competition from global players, especially the United States region has been witnessing a severe crisis that has led to ultimate changes in how music is produced, created, consumed, distributed, and monetized. Therefore, all levels of the multi-layered music sector need to be tactically aligned to foster the music industry's growth and development in European countries.
Asia Pacific is predicted to be the fastest-growing market in the near future. Most Asian countries, such as South Korea, Singapore, Taiwan, Hong Kong, Australia, and Japan, have already transformed into mobile-dominated nations, with smartphone penetration outpacing desktop devices.
To know how our report can help streamline your business, Speak to Analyst
Besides, Asian people spend hours on their mobile devices (more than five to six hours per day in India, Hong Kong, Taiwan, and Indonesia). These factors create an opportunity for music production software companies to engage with existing customers and cater to new potential customers. Many companies are already taking advantage of it and offering branded apps to their customers for better usability and accessibility on mobile devices.
New Product Launch and Development to Expand Service and Product Offerings
The key players in the market are engaged in developing high-value products and enhancing their existing products in terms of efficiency to retain their customers in the highly competitive environment. To attract new customers, KORG Inc., Arturia Tous Droits Réservés, and Moog Music Inc. started offering free versions of their paid music production software for a certain time to let users experience the features of the product. The companies lately are inclined toward offering their customers a real-time connection either during music production or after a new track is produced. These new updates and developments in the software are helping the key vendors in expanding product offerings to boost the market growth.
October 2021 – Roland Corporation released an audio recording application, ZenTracker, through which users can record a track, edit it, and publish using Roland cloud. The application was available for free and can be installed on any Android or iOS device. However, users with paid subscription of Roland cloud has more features as compared to those who use it for free.
October 2020 – Spotify technologies launched a new app, Soundtrap Capture, to capture and edit audio through mobile devices. This app is also used to collaborate with other users in real-time. The app is available for iOS devices only, and the company is planning to launch it for Android devices soon.
An Infographic Representation of Smartphone Music Production Software Market
To get information on various segments, share your queries with us
The market research report highlights leading regions across the world to offer a better understanding of the user. Furthermore, the report provides insights into the latest industry and market trends and analyzes technologies deployed at a rapid pace at the global level. It further highlights some of the growth-stimulating factors and restraints, helping the reader gain in-depth knowledge about the market.
ATTRIBUTE | DETAILS |
Study Period | 2018-2029 |
Base Year | 2021 |
Estimated Year | 2022 |
Forecast Period | 2022-2029 |
Historical Period | 2018-2020 |
Unit | Value (USD thousands) |
Segmentation | By Type, Application, and Geography |
By Type |
|
By Application |
|
By Region |
|
The market is projected to reach USD 142,692 thousands by 2029.
In 2020, the market size stood at USD 73,341 thousands.
The market is projected to grow at a CAGR of 8.9% during the forecast period.
The recording segment is likely to lead the market.
An increasing number of SMEs to boost music production software demand will drive the market growth.
Avid Technology, Inc., Spotify Technology S.A., Roland Corporation, Sony Group Corporation, BandLab Technologies, Arturia Tous droits réservés, inMusic Brands, Native Instruments GmbH, Steinberg Media Technologies GmbH, Image Line Software, and KORG Inc. are the top players in the market.
North America is expected to hold the highest market share.
Asia Pacific is expected to grow with remarkable CAGR during the forecast period.