Absolute Markets Insights (AMI) reports a robust growth forecast for the global music editing software market during the 2021 – 2029 period. In its newly released report, AMI anticipates that the market will grow at 8.8% owing to rapid growth in online streaming. AMI reports that the market stood at a valuation of US $ 1125.93 Mn in 2020.
Music editing software refers to audio editing software that enables users to edit and generate audio data. An audio editing software can be implemented as a computer application or as a web application, integrated with any online platform or application. Modern music editing software can also be used for editing music videos. These software help users to not just edit existing videos but also record new audio or video from one or more inputs and store those recordings as digital audio or video.
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Growing demand for digitized music editing is influencing the growth of global music editing software market. The rising popularity of high-quality music composition tracks in terms of their clarity is also expected to boost the demand as well as market for better music editing software. Rapid evolution of technology has transformed the media and entertainment industry. The integration of new disruptors for generating profitable growth across the music industry is also anticipated to accelerate the growth of the global music editing software market.
Growing provision of value added services is estimated to propel the growth of global music editing software market over the period of next eight years. Software enabled with larger number of features and capable of delivering more services is gaining popularity, for different kinds of remixing and sound mixing. From July 2021, GarageBand software for Windows became available in market. For music editing, this software is very popular on iOS devices.
All categories of Products and Solution together dominated the market in 2020
According to Absolute Market Insights report, the services segment is estimated to register as the the fastest growing category in the component segment during the forecast period, in the global music editing software market. The largest market share in this market was held by products and solution segment. This segment has been further classified into integrated and customized products and solution and standalone products and solution.
In 2020, standalone products and solution segment held the larger market share. In May 2021 Snap announced Story Studio, a new standalone app to edit stories and portions of online music, to be further used for online activities. During the forecast period, integrated and customized products and solution category is estimated to witness highest growth rate. Due to rapid evolution of technology, which has transformed the media and entertainment industry, the integration of new disruptors is generating profitable growth across the sector. Different music producers have different types of requirements and thus, customized software are being increasingly adopted to offer tailor made solutions. Integration of various systems such as sound check, sound modification, volume mixing, and other specialized functionalities into a single tool aid in improving the quality of recorded and edited music. They are helpful in automating certain processes to speed up the procedure of recording and editing music.
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Cloud Deployment for music editing software during the Forecast Period 2021 – 2029
According to Absolute Market Insights report, cloud deployment segment in the global music editing software market is anticipated to witness highest CAGR over the forecast period. Cloud deployment helps the owners of business offering online music streaming service to cut costs and plan to pay only for those services that they are actually using. Digital files on cloud can eliminate the need of physical storage. In June 2021, the new version of ShazamKit of Apple Inc. enabled developers to integrate audio recognition technology directly from Shazam into their apps, making it possible not only to match music to Shazam's vast catalog of songs, but also to match any prerecorded audio to custom results that developers can create.
Enterprises are expected to continue to be the largest end users of music editing software during the Forecast Period (2021 – 2029)
The enterprises category held the largest share in the end user segment of global music editing software market in 2020 and is also expected to witness highest growth rate during the forecast period. Increasing investments by SMEs towards integrated music editing tools is contributing towards the segment’s growth in the global market. The availability of flexible modules along with diversified functionalities is encouraging adoption across this sector and is estimated to further the growth of global music editing software market over the period of next eight years.
High adoption of software kept the market strong in the North America Region
North America region accounted for the highest share in the global music editing software market in 2020 due to high adoption of software and presence of a large number of software providers across the region. Other factors contributing to the region’s growth include technological advancement, developed music industry, availability of IT infrastructure required for developing music editing software. Growth of commercial music industry in the Asia Pacific region is expected to boost global music editing software market growth in this region over the forecast period.
Some key players in the global music editing software market are Ableton AG, Acoustica Inc., Adobe, Apple Inc., Avid Technology Inc., HairerSoft, Hindenburg Systems ApS, Image Line Software, MAGIX Software GmbH, NCH Software, Steinberg Media Technologies GmbH, and other market participants.
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Global Music Editing Software Market:
- By Component
- Products and Solution
- Integrated and Customized
- Standalone
- Services
- Support Services
- Others
- Products and Solution
- By Deployment Mode
- Cloud Based
- On Premise
- By Device Type
- PC
- Tablets
- Smartphones
- Others
- By Operating System
- Windows
- Android
- macOS
- Others
- By Pricing Strategy
- Monthly
- Annually
- By End Users
- Photographers
- Students and Teachers
- Enterprise
- Small & Medium Enterprise
- Large Enterprise
- Schools & Universities
- Teams
- Others
- By Region
- North America
- U.S.
- Canada
- Mexico
- Rest of North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Denmark
- Finland
- Iceland
- Sweden
- Norway
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
- North America
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