Digital Audio Workstations (DAWs) Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2026
Albany, NY -- (SBWIRE) -- 04/19/2019 -- According to a new market report Digital Audio Workstations (DAWs) Market, published by Transparency Market Research, the global Digital Audio Workstations (DAWs) Market is expected to reach US$ 1,486.0 Mn by 2026, expanding at a CAGR of 8.8% from 2018 to 2026. According to the report, the global market will continue to be influenced by a range of macroeconomic and industry-specific factors. North America will continue to be at the forefront of global demand, with the market in the region growing at above 8.2% through 2026. Technical advancements, increased digitization and presence of large number of digital audio workstations manufacturers are anticipated to significantly influence the global digital audio workstations market growth across the North America region.
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Growing significance of media and entertainment industry and increasing number of DJs across the world are driving the global digital audio workstations (DAWs) market:
Increasing adoption of DAWs system for recording, editing and producing audio files is expected to boost the growth of the overall market in the coming years. The ability of DAWs software to offer cost effective and efficient recording system is fueling demand for them. Apart from that, easy availability of free learning materials on different website is expected to boost the demand of DAWs software across the different application area over the forecast period. In addition, music composition or creation of electronic music with little investment in computer or digital device is expected to fuel the growth of the market in the coming years. Furthermore, increased presence of number of digital audio workstations manufacturers and post-sale service providers across the regions has led to subsequent rise in demand of digital audio workstations and which is likely to supplement the market growth during the forecast period.
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In terms of digital audio workstations system, both North America and Europe are matured market owing to high awareness among the users and technological development. However, South America is expected to witness strong growth during the forecast period from 2018 to 2026. Rising penetration of technology as well as significant investments in music production from media and entertainment industry across the countries such as the U.S., UK, Germany, France, China, India, South Africa and Brazil among others is anticipated to offer prominent opportunities for digital audio workstations providers in the near-term.
The global digital audio workstations market is broadly segmented by component into software and services. According to the research study, the software segment of the market held the maximum market share and is anticipated to remain dominant over the forecast period in terms of revenue. The software segment is further sub-segmented into stand-alone and suite.