According to a new market report pertaining to the digital audio workstations (DAWs) market published by Transparency Market Research, the global digital audio workstations (DAWs) market is expected to reach US$ 16,454.9 Mn by 2026, expanding at a CAGR of 8.8% from 2018 to 2026. According to the report, the global market will continue to be influenced by a range of macroeconomic and industry-specific factors. North America will continue to be at the forefront of global demand, with the market in the region growing at above 8.2% through 2026. Technical advancements, increased digitization, and presence of large number of digital audio workstation manufacturers are anticipated to significantly influence the growth of the digital audio workstations market across the North America region.
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Growing significance of media and entertainment industry and increasing number of DJs across the world are driving the global digital audio workstations (DAWs) market
Increasing adoption of DAW systems for recording, editing, and producing audio files is expected to boost the growth of the overall market in the coming years. The ability of DAWs software to offer a cost effective and efficient recording system is fueling demand for them. Besides, easy availability of free learning material on different websites is expected to boost the demand for DAW software across the different application areas over the forecast period. Increased presence of a number of digital audio workstation manufacturers and post-sale service providers across regions has led to subsequent rise in demand for digital audio workstations which is likely to supplement the market growth during the forecast period.
In the digital audio workstations market, both North America and Europe are matured markets due to high awareness among users and technological developments. However, South America is expected to witness strong growth during the forecast period from 2018 to 2026. Rising penetration of technology as well as significant investment in music production from media and entertainment industry across countries such as the U.S., U.K, Germany, France, China, India, South Africa, and Brazil is anticipated to offer prominent opportunities for digital audio workstation providers in the near-term.
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