Desktop Music Market

Desktop Music Market Analysis by Component {Software (Digital Audio Workstation [DAW], and Audio Player), Services, and Accessories (Headphones, Speakers, and Others)}; by Software Deployment (On-Premises, and Cloud); by OS Compatibility (Mac, Window, and Others); and by End User (Commercial, and Individual) – Global Supply & Demand Analysis & Opportunity Outlook 2021-2031

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Report ID: 4669 | Published On: Feb 02, 2023

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Inflation and Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.


In The News

  •  Avid Technology, Inc., announced the return of its MBOX desktop audio interface with a brand-new solution, the MBOX Studio powered by Pro Tools software. The announcement was made at the AES Show 2022 in New York City. For artists and other audio makers who want to record, edit, and mix vocals, instruments, and other sources for songs, podcasts, streams, and other audio with remarkable sonic quality in their home studios, MBOX Studio completes the picture.

  • Apple, Inc., introduced Apple Music Sing, a fun new tool that enables users to sing along to their favorite songs with customizable vocals1 and real-time lyrics. To let users, take the lead, sing duets, sing backing, and more within Apple Music's unmatched lyrics experience, Apple Music Sing offers a variety of lyric views.

 


Global Desktop Music Market Definition

The term "desktop music" describes music that has been created using a computer. From recording vocals and instruments to sequencing synths and percussion and even mixing to optimize the volume of a composition. A computer could be used to finish the entire song-creation process. Further the music which has been created could be exported to the smartphones and could also been shared with large number of audience.

Computers are now a crucial component of the creative process for musicians. It is a highly useful tool for invention, exploration, production, and publication since all genres and styles are combined. While it has drawbacks of its own and cannot replace the experience of real life, it allows artists to work in a variety of settings and has given opportunities to amateur musicians without access to professional equipment.

Further, desktop music could be also created across different operating systems, such as MS Windows, MacOS, and Linux among others. However, one doesn’t require huge budget to create desktop music. Various cheap laptops and desktop computers could also be used to carry out various musical projects.


Global Desktop Music Market: Key Insights

Base Year

2021

Forecast Year

2022-2031

CAGR

9.0%

Base Year Market Size (2021)

USD 6,845.1 Million

Forecast Year Market Size (2031)

USD 16,002.8 Million

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)


Global Desktop Music Market Size, Forecast, and Trend Highlights Over 2021-2031

The global desktop music market is estimated to garner a revenue of USD 16,002.8 Million by the end of 2031 by growing at a CAGR of 9.0% over the forecast period, i.e., 2022 - 2031. Further, the market generated a revenue of USD 6,845.1 Million in the year 2021. The growth of the market can be attributed to growing number of people who listen to podcast for the purpose of entertainment, knowledge, and for inspiration or motivation. There are currently approximately, 400 million podcast listeners worldwide. By the end of 2024, it is anticipated that there would be about 500 million listeners globally. Hence owing to the number of podcast listener, the consumption of audio media is growing rapidly. Additionally, podcasters are focusing more on serving the best quality audio to the listener. As a result, podcasters are extensively using digital audio workstations (DAW) to edit their digital audio recordings to remove any unpleasant gaps and create the ideal podcast, which is also expected to boost the demand for the product.

Desktop Music Market GraphGet more information on this report:Download Sample PDF

Further, there has been growing investment made by various audio streaming industry which is also estimated to boost the growth of the market. Additionally, owing to increase public interest in electronic music genres and widespread use of electronically produced songs by music producers around the world, the production of electronic music is also expanding rapidly, which is further estimated to boost the market growth. DAW has made it simple to create electronic music on desktop Along with features such as editing, it also offers virtual instruments to the musician. Hence DJs, and music composers all around the world are extensively using DAW for producing music.


Desktop Music Market Graph
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Global Desktop Music Market: Growth Drivers and Challenges

Growth Drivers

  • Growing Penetration of Smartphones

Owing to the growing penetration of smartphones, there has been growth in number of people streaming music and podcast. In 2021, a poll of South Korean music consumers revealed that about 85 percent of participants listened to music most frequently on their smartphones. Furthermore, in Mexico in 2021, about 89% of those who streamed music, used a smartphone to perform the action. Additionally, approximately 80% of Americans use their smartphones to listen to podcasts. Since smartphones allow viewers to access services from anywhere, their preference for listening to music and podcasts is expanding. As a result, it is predicted that more people would consume audio media, which would drive market expansion.

  • Large Number of OTT Service Users

About 1 billion individuals used sub-OTT services such as Netflix, Disney+, and Amazon Prime Video in 2022.

  • Growing Sales of Electric Music

Electronic artists produced an approximate 75 percent of about USD 50 million in music NFTs that were sold in the year 2020.

  • Rising Adoption of Digital Audio Workstations

Panasonic and Klipsch, a tech-driven audio company, recently announced an exclusive agreement to bring the famed "Klipsch Sound" and audiophile-quality performances to the in-vehicle experience at the CES trade show in Las Vegas.

  • Surge in Number of Independent Artist

There were about 1,500 independent musicians working full-time in the United States as of May 2019, an increase from the approximate 1,300 recorded the year before.

Challenges

  • Challenges for Multitasking Operating Systems - The recording application programme and the computer's operating system (OS) communicate with one another. Although multitasking operating systems are becoming more and more common, they could provide problems for time-sensitive applications in sound recording. The hardware frequently needs complete focus owing to the real nature of the recording process. If numerous processes are running at once, the audio interface might not be able to use the system bus to transport data from the interface to memory or the hard drive. In order to give priority scheduling to time-critical processes, the operating system must coordinate all requests for bus and hard disc access, including those from the OS itself.
  • Compositions Are Vulnerable to Loss Owing to Viruses, Data Corruption, or the Loss or Theft of a Computer.
  • Disadvantages Older Composers in Comparison to Younger, More Technologically Advanced Musicians.


Market Segmentation

The global desktop music market is segmented and analyzed for demand and supply by software deployment into on-premises, and cloud. Out of which, the cloud segment is estimated to grow at the highest CAGR 11.9% over the forecast period. The growth of this segment can be attributed to rising number of cloud-based music subscriptions. It was observed that, there were about 520 million paid streaming subscribers globally at the end of 2021, up from about 440 million at the end of 2020. This also applies to family plan members who are not paying their own bills. Additionally, in order to give recordists access to large libraries of audio samples, synthesizer presets, VSTs (which, in some cases, include both synthesizers and mixing tools), partially finished works, or finished works for remixing, cloud-based music production (CBMP) services use cloud computing technologies. Hence this factor is also estimated to boost the segment growth.

The global desktop music market is also segmented and analyzed for demand and supply by OS compatibility into Mac, Windows, and others, amongst which the Windows segment is anticipated to garner the highest revenue of USD 4,581.6 Million by the end of 2031, up from a revenue of USD 1,857.6 Million in the year 2021. This growth can be attributed to the growing number of window users especially in Asia Pacific region. Microsoft is known for having amazing functionality and features, as well as a sleek and simple user interface. Further, with all popular DAWs, MS Windows offers a great user experience, and it gives user more freedom to select the gear one requires. Additionally, the growth of the segment can be attributed to growing adoption of iPhone, laptops, and smart computers. However, the Mac segment is anticipated to grow at the highest CAGR of 10.0% over the forecast period.

Our in-depth analysis of the global desktop music market includes the following segments

          By Component

  • Software
    • Digital Audio Workstation (DAW)
    • Audio Player
  • Services
  • Accessories
    • Headphones
    • Speakers
    • Others

          By Software Deployment

  • On-Premises
  • Cloud

         By OS Compatibility

  • Mac
  • Windows
  • Others

          By End User

  • Commercial
  • Individual


Global Desktop Music Market Regional Synopsis

The North American desktop music market, amongst the market in all the other regions, is projected to hold the largest market revenue of USD 6,521.1 Million by the end of 2031, growing at a CAGR of 10.0% over the forecast period. In 2021, the market in this region generated revenue of USD 2,540.2 Million. The growth of the market in this region can be attributed to growing music industry in this region, along with growing demand for desktop recording tools. Also, it has been observed that, on a scale of 1 to 10, 93% of respondents place the music industry's reliance on live performances above seven in United States. Further, there has been growing subscription for streaming services which is also estimated to boost the growth of the market in this region. According to the most recent data, Apple Music had about 48 million monthly customers as of September 2022, making it the most popular music streaming service in the United States. Following closely behind was Spotify, which had an approximately 46 million monthly users.  This increase in demand may also be attributed to the increasing use of the internet.

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Top Featured Companies Dominating the Global Desktop Music Market

    Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global desktop music market that are included in our report are Ableton AG, Image Line Software, Logitech, Panasonic Holdings Corporation, Sony Corporation, Bose Corporation, Avid Technology, Inc., Adobe, Sennheiser electronic GmbH & Co. KG, Bitwig GmbH, Apple Inc., Cockos Incorporated, and others.


Key Questions Answered in the Report

1) What are the major factors driving the growth of the desktop music market?

Ans: The major factors driving the growth of the market are growing penetration of smartphones, large number of OTT service users, growing sales of electric music, and others.

2) What would be the CAGR of desktop music market over the forecast period?

Ans: The market is anticipated to attain a CAGR of 9.0% over the forecast period, i.e., 2022 - 2031

3) What are the challenges affecting the desktop music market growth?

Ans: Challenges for multitasking operating systems, compositions are vulnerable to loss owing to virus, data corruption, or loss or theft of a computer, and disadvantages older composers in comparison to younger, more technologically advanced musicians are estimated to be the growth hindering factors for the market expansion.

4) Which region will provide more business opportunities for growth of desktop music market in future?

Ans: The market in the North America region is projected to hold the largest market share by the end of 2031 and provide more business opportunities in the future.

5) Who are the major players dominating the desktop music market?

Ans: The major players in the market are Ableton AG, Image Line Software, Logitech, Panasonic Holdings Corporation, Sony Corporation, and others.

6) How are the company profiles selected?

Ans: The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.

7) What are the segments in the desktop music market?

Ans: The market is segmented by component, software deployment, OS compatibility, and by region.

8) Which segment captures the largest market size in the software deployment segment in the desktop music market?

Ans: The cloud segment is anticipated to garner the largest market size by the end of 2031 and display significant growth opportunities.

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