New product launches and upgrades and partnerships, agreements, and collaborations have been the
most dominating strategies adopted by the major players in Digital Audio Workstation Market
The report "Digital Audio Workstation Market by Type (Recording, Editing, Mixing), End User (Professional/Audio
Engineers and Mixers, Electronic Musicians, Music Studios), Component, Deployment Model, Operating Systems,
and Region - Global Forecast to 2023", The digital audio workstation market size is expected to grow from USD 2.0
billion in 2018 to USD 3.1 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 9.2% during the forecast
period. The key factors driving the digital audio workstation market include the growing focus on digitization of
instruments and increasing adoption of cloud-based digital audio workstations in the music industry to enhance
the music production process
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The services segment of the market is anticipated to grow at a higher CAGR as compared to software segment
during the forecast period.
Implementation and consulting services subsegment is estimated to grow at a higher as compared to the managed
services subsegment during the forecast period. This growth is expected to be driven by the increased demand for
digital audio workstations across the media & entertainment and education industries. Services are an essential
part of the software deployment and execution lifecycle. Services, including consulting, product support, updates,
and maintenance, are required at various stages, starting from pre-sales requirement assessment to post-sales
product deployment and execution, thus enabling the client to get better return on investment (RoI).
The professionals/audio engineers and mixers segment is expected to account for the largest market size during
the forecast period.
The digital audio workstation market has been segmented based on type into editing, mixing, and recording. Audio