Music Composing Software Market by Instrument Simulation - Global Market Size, Share, Development, Growth and Demand Forecast (2013-2023) - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Feb 15, 2019--The “Music Composing Software Market by Instrument Simulation - Global Market Size, Share, Development, Growth, and Demand Forecast, 2013-2023” report has been added to ResearchAndMarkets.com’s offering.
Global music composing software market is expected to reach $242.1 million by 2023, growing media and entertainment industry, and rising inclination towards music composing applications are the key factors driving the growth of the market.
In terms of instrument simulation, the music composing software market is categorized into guitar, piano, full orchestra, drums and percussions, and pipe organ. Out of these, guitar simulation accounted for 42% revenue share in 2017, followed by piano and others. The largest share held by guitar simulation category is mainly attributed to the increasing number of guitarists, globally. Furthermore, the regional markets, such as North America and Europe are largely dominated by guitarists including acoustic guitarist, electric lead, and bass guitarists, which further support the market demand for guitar simulation software.
Based on operating system (OS), the music composing software market is categorized into MAC, Windows, iOS, Android, Linux, and Berkeley Software Distribution (BSD). Out of these, MAC OS is largely preferred by end users, predominantly due to large use of MAC OS based laptops and desktops by music schools, individuals, and studios. MAC OS accounted over 50% share in the global market, in 2017.
During the forecast period, the music composing software market is projected to witness the fastest growth in APAC, at a CAGR of 25.8%. This can be attributed to growing media and entertainment industry in the developing economies in the region, predominantly, in Australia, Japan, South Korea, China, and India; and rising number of live music concerts. Moreover, various music associations in the region, including Japanese Society of Rights of Authors, Composers, and Publishers (JSRACP); and Music Composer Association of India (MCAI) are taking initiatives to increase awareness about the different music composing software through conferences, live music concerts, and music summits.
Globally, the media and entertainment industry has been witnessing transformational growth in recent years. Factors such as multiple software platforms, digitization of instruments, multiple-devices such as laptops and mobile phones, along with technological advancements have remodeled the industry dynamics. This is a notable factor spurring the demand for music composition software in the global market. According to International Trade Administration, the U.S. Department of Commerce, the global media and entertainment market generated $1.9 trillion revenue in 2016.
Also, with the growing music industry in countries, such as the U.S., the U.K., Germany, Australia, and Canada, the adoption of composing software has been continuously increasing by music schools, musicians, and individuals. Rising number of musicians has also spurred the demand for composing software in these countries.
Supporting music programs by academic institutes is expected to offer growth opportunities to the market players, which can impact the growth of the global music composing software market. Some of the major universities including Princeton University, Harvard University, Berklee College of Music, and Cornell University hold Ivy league status and offer music programs, utilizing music composing software. Thus, incorporation of composing software in these academic institutes offers a lucrative growth opportunity to the market players.
Presently, the market is at niche stage, recording healthy growth rate year-over-year, which has increased the competition among principal existing competitors like MakeMusic Inc., Avid Technology Inc., and Maestro Music Software, acquired majority of the market revenue. Apart from this, the industry is exhibiting large number of companies, primarily from music production. For instance, companies like Steinberg Media Technologies GmbH (one of the leading players in the music production market), recently entered into music composing software industry with Dorico brand.
Chapter 1. Research Background
Chapter 2. Research Methodology
Chapter 3. Executive Summary
Chapter 4. Introduction
4.1 Definition of Market Segments
4.1.1 By Instrument Simulation
18.104.22.168 Pipe organ
22.214.171.124 Full orchestra
126.96.36.199 Drums and percussions
4.1.2 By Operating System
4.1.3 By Deployment
4.2 Value Chain Analysis
4.3 Market Dynamics
188.8.131.52 Broadening customization in music industry
184.108.40.206 Increase in availability of online music tutorials
220.127.116.11 Growing media and entertainment industry
18.104.22.168 Rising inclination towards music composing software
22.214.171.124 Increasing number of live concerts and music events
126.96.36.199 Impact analysis of drivers on market forecast
188.8.131.52 Availability of free music software and educational resources
184.108.40.206 Low awareness and cost factor associated with music composing software
220.127.116.11 Impact analysis of restraints on market forecast
18.104.22.168 Supporting music programs in academic institutes
4.4 Porter’s Five Forces Analysis
Chapter 5. Global Market Size and Forecast
5.1 By Instrument Simulation
5.2 By Operating System
5.3 By Deployment
5.4 By Region
Chapter 6. North America Market Size and Forecast
Chapter 7. Europe Market Size and Forecast
Chapter 8. APAC Market Size and Forecast
Chapter 9. RoW Market Size and Forecast
Chapter 10. Competitive Landscape
10.1 Competitive Analysis of Key Players
10.2 Product Benchmarking of Key Players
Chapter 11. Company Profiles
11.1 MakeMusic Inc.
11.2 Avid Technology Inc.
11.3 Maestro Music Software
11.4 Lugert Verlag GmbH & Co. KG
11.5 Notation Software Germany GmbH
11.6 PreSonus Audio Electronics Inc.
11.7 NoteWorthy Software Inc.
11.8 Passport Music Software LLC
11.9 Sion Software
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INDUSTRY KEYWORD: ENTERTAINMENT MUSIC TECHNOLOGY SOFTWARE
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