Pune, India, Sept. 13, 2023 (GLOBE NEWSWIRE) -- The global Smartphone Music Production Software Market size was valued at USD 78,609 thousand in 2022 and is projected to reach USD 157,548 thousand by 2030, exhibiting a CAGR of 9.3% during the forecast period. Fortune Business Insights presents this information in their report titled "Global Smartphone Music Production Software Market Forecast, 2023-2030."
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Notable Industry Development:
December 2021 - BandLab announced raising USD 53 million toward mass music creation, expanding its team, and increasing offerings toward aspiring artists and music content creators globally.
Key Takeaways
- Smartphone Music Production Software Market size in North America was USD 31,392 thousand in 2022
- Music Production Software and Mobile App Downloads Led to Industry Growth Amid Pandemic
- Mixing Segment to Lead due to the Rise of Remix Culture Empowers Users to Mix and Create Music with Advanced Features
- Home Studios (Personal) Segment to Dominate due to Unlimited Possibilities of Music Production
Discover the Leading Players Featured in the Report:
“Companies leading the global Smartphone Music Production Software Market are Avid Technology, Inc. (U.S.), Spotify Technology S.A. (U.S.), Roland Corporation (Japan), Sony Group Corporation (Japan), BandLab Technologies (Singapore), Arturia Tous droits réservés (France), inMusic Brands (U.S.), Native Instruments GmbH (Germany), Steinberg Media Technologies GmbH (Germany), Image Line Software (Belgium), KORG Inc. (Japan)”
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 9.3% |
| 2030 Value Projection | USD 157,548 thousand |
| Base Year | 2022 |
| Smartphone Music Production Software Market Size in 2022 | USD 78,609 thousand |
| Historical Data for | 2019 to 2021 |
| No. of Pages | 150 |
| Segments covered | By Type, Application, and Geography |
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Drivers and Restraints
AI-powered Music Production Software Empowers Musicians Driving Industry Growth
Smartphone music production software is being developed by market players with diverse features, available through both paid subscriptions and free options. These apps incorporate Artificial Intelligence (AI) technology and music software programs to enhance the user experience. By integrating AI into various aspects of music, such as composition, performance, learning, and digital processing, these apps empower musicians and offer opportunities for small and medium-sized music firms to advance with minimal investments.
However, the smartphone music production software market growth is anticipated to constrain due to the availability of limited features and performance shortcomings of certain software offerings.
Segmentation
By Type
- Editing
- Mixing
- Recording
By Application
- Music Production Companies
- Independent Musician
- Home Studios (Personal)
By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
Regional Insights
North America Leads with Growing App Usage and Digital Consumption Habits
North America dominates the smartphone music production software market, with the U.S. being the home to the world's largest music industry. App usage in the U.S. has surpassed live television viewing, with the average American spending four hours per day on their smartphones or mobile devices.
Asia Pacific is expected to be the fastest-growing market due to its widespread mobile adoption, surpassing desktop devices in popularity and usage.
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Competitive Landscape
Market Leaders Focus on Enhancing Products and Offer Free Versions to Attract Customers
Market leaders are continuously improving their products to meet the demands of a competitive industry and increase their smartphone music production software market share. They focus on developing high-value offerings and enhancing product efficiency to retain existing customers and attract new ones. To entice new users, some companies provide free versions of their premium music production software for a limited period, allowing users to experience the product's features.
FAQs
How big is the Smartphone Music Production Software Market?
The Smartphone Music Production Software Market size was USD 78,609 thousand in 2022. It is expected to reach USD 157,548 thousand by 2030.
How fast is the Smartphone Music Production Software Market growing?
The Smartphone Music Production Software Market will exhibit a CAGR of 9.3% during the forecast period, 2023-2030.
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