Digital Audio Workstation (DAW) market expected to see massive growth by 2031
A new study from Digital Journal shows the market for Digital Audio Workstations (DAWs) is predicted to grow at an exponential rate and expand considerably by the year 2031.
Once upon a time, music was recorded in elaborately built studios where engineers carefully monitored the massive controls as musicians took over acoustically treated rooms designed to enhance the soundwaves and give life to the sound. This traditional process has made recording studios such as Abbey Road, Capitol Records Studio B, and Electric Lady Studios as iconic as the artists and songs that were captured within them.
With advancements in technology, that process has massively shifted as home and portable studios are becoming the standard for the next generation of musicians and content creators. With reel-to-reel tape no longer the industry standard for recording, the digital audio workstation or DAW has completely revolutionized the process and cut costs drastically on entry into the market. Now, a new study from Digital Journal discusses how the market for DAWs is expected to continue to expand exponentially by 2031. Taking into account a plethora of factors, everything from the cost of and access to equipment, as well as more societal concerns including the Covid-19 pandemic and international strife such as the conflict between Russia and Ukraine, the studies team lays out why they expect such a market boom in the sector.
Reviewing multiple providers of DAW technology such as Cakewalk, Abelton, Avid, and Apple, the study lays out the purchase trends over recent years and how sales figures continue to trend upward. With an ever-growing influx of musicians, songwriters, producers, and content creators, home studio access and the need for DAWs is constantly expanding and being utilized all around the world. With the entry into the content creation or musical landscape now accessible simply with a home computer and a piece of software, aspiring stars everywhere will be looking to make their own mark on the entertainment landscape.
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