|Published||Report Code||Available Format||Pages|
Music Composing Software Market Overview
The global music composing software market was valued at $79.2 million in 2017 and is forecast to witness a CAGR of 21.4% during 2018–2023. Factors such as flourishing media and entertainment industry and rising inclination towards music composing applications are driving the growth of music composing software market globally.
GLOBAL MUSIC COMPOSING SOFTWARE MARKET, BY INSTRUMENT SIMULATION, $M (2013-2023)
Guitar, piano, full orchestra, drums and percussions, and pipe organ are the various type of instruments for which composing software are available in the market. Though, software for guitar simulation generated largest revenue, but software for piano simulation are also gaining momentum. The piano category is projected to exhibit a CAGR of over 21% during the forecast period. Several artists are now usually preferring virtual piano over keyboards for recording, composing, and giving extra layer to the track.
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, Windows held a revenue share of 28% in 2017, globally. Windows OS is largely used in APAC and RoW regions, whereas MAC OS usage is witnessed largely from North America. On the other hand, Linux and BSD are low revenue generating categories, owing to low customer base and presence of free software in the market.
Based on deployment type, the music composing software market has been categorized into cloud and on-premises. In 2017, the on-premises based software accounted 75% share in the music composing software market. On-premises is largely preferred, mainly due to end-user’s concern over data security in cloud deployment.
Global Music Composing Software Market Dynamics
Growing competition in the music industry is continuously leading to customization in music tracks by the musicians. This couples with a pool of customizations ranging from building music chords and melodies to configuring different types of notations are the key trends observed in the market. Moreover, market players are introducing composing software with features that provide customization options. For instance, software such as, Notation Composer by Notation Software, and Sibelius by Avid Technology Inc. are featured with customization options, like taking help from the music available over the cloud; and creating music for different instruments and music sheets for musical groups.
The rising inclination towards music composing software and surging media and entertainment industry are the major factors driving the demand in the music composing software market, globally.
With the growing music industry in the 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 music composing software in these countries.
Furthermore, media and entertainment industry includes multiple segments, such as television, movies/cinemas, publishing, music, advertising, internet, and gaming. With the rising interest of consumers in gaming, television, and movies, the demand for music composition software has increased drastically, to compose various forms of music for variety of media and entertainment segments. For instance, Finale, a music notation software by MakeMusic Inc., is widely used to compose music for television, film, and game audio segments.
Availability of free music composing software, such as Musink and MuseScore, is a major factor restricting the growth of the music composing software market, globally. Furthermore, with the growing number of music composers, the adoption of composing software has been increasing, and composers are more inclined towards free software and educational resources for composing music. For instance, many schools, conservatories, choirs, and orchestras are opting for free MuseScore software and handbook, as it includes many of the same features and tools available in the paid software. Thus, presence of free composing software and educational resources impedes the growth of the global market.
The major opportunity which can impact the growth of the music composing software market is the implementation of music programs in academic institutes. Increasing number of several music programs incorporating composing software is widely used across music institutes. For instance, Berklee College of Music offer online course on music notation using Sibelius.
Global Music Composing Software Market Competitive Landscape
The music composing software market is highly consolidated with principal existing competitors like MakeMusic Inc., Avid Technology Inc., and Maestro Music Software, occupying a majority of the market revenue. Moreover, companies as part of their business strategies are adding new features and upgrading their software as per the consumer’s needs, also contribute to the growth of their market position.
Some of the key players operating in the music composing software market are MakeMusic Inc., Avis Technology Inc., Maestro Music Software, Lugert Verlag GmbH & Co. KG, Notation Software Germany GmbH, PreSonus Audio Electronics Inc., NoteWorthy Software Inc., Passport Music Software LLC, and Sion Software.