Music Composing Software Market To Generate Revenue Worth $1,871.5 Million by 2030

  • Published: September 2020

The growth of the media and entertainment industry, increasing number of live concerts and music events, rapid utilization of music streaming services, surging usage of music composing software by online music tutorial platforms, and strong emphasis of musicians on uploading more content on different platforms are driving the demand for music composing software. Owing to these factors, the global music composing software market is projected to reach $1,871.5 million by 2030, registering a CAGR of 23.8% during the forecast period (2020–2030).

COVID-19 Impact Analysis

The impact of the COVID-19 pandemic has been quite positive on the market in 2020. The lockdown situation across the globe has encouraged musicians to upload more content on different streaming platforms, as all live shows and concerts have been cancelled for the foreseeable future. A significant increase has been witnessed in the content being uploaded, which is further being reflected in the increasing utilization of composing software for creating and editing music.

Guitar Category Is Dominating Instrument Simulation Segment

Based on instrument simulation, the guitar category held the largest share in the market in 2019. Guitar simulation is largely preferred owing to the strong presence of guitarists worldwide. Regions such as North America and Europe have been largely dominated by guitarists, including acoustic guitarists and electric lead & bass guitarists, which is resulting in the increasing utilization of music composing software for guitar recordings.

On the basis of operating system, the Mac category accounted for the largest market size in 2019. This can be mainly attributed to the wide usage of Mac operating-system-based laptops and desktops by music schools, individuals, and studios for recording and editing music files. Moreover, it offers several advantages, such as improved sound quality, faster workflow, reduced export time, fewer chances of crashing, ease of use, and availability of in-built features.

Asia-Pacific (APAC) is expected to be the fastest-growing market during the forecast period. This can be ascribed to the rising customer inclination toward streaming services, competitive environment due to the presence of different entertainment products, surging preference for digital music, rising number of live music concerts, strong preference for classical music concerts, and growing focus of musicians on uploading more content on varied online platforms.

Competitive Analysis of Market Players

The music composing software market is consolidated in nature, owing to the presence of well-placed competitors, including Ableton AG, Apple Inc., Image Line NV, and Avid Technology Inc. Other leading players are Lugert Verlag GmbH & Co. KG., Sion Software, and Notation Software Germany GmbH. The leading position of these players is attributed to their brand recognition and availability of features that address the needs of both avant-garde composers and budding musicians. The strong brand value of these companies would continue to drive their growth in the years to come.

Moreover, companies, as part of their business strategy, are adding new features and upgrading their software as per consumers’ needs, which also contributes to their market growth. Presently, the industry is at a niche stage and recording a healthy growth rate year-over-year, which increases the competition among players. Apart from this, a large number of companies are focusing on the development of music production software, which is expected to further contribute toward the market growth.

Some of the players operating in the music composing software market are Avid Technology Inc., Maestro Music Software, PreSonus Audio Electronics Inc., Apple Inc., NoteWorthy Inc., Lugert Verlag GmbH & Co. KG, Notation Software Germany GmbH, Passport Music Software LLC, Sion Software, MakeMusic Inc., MAGIX Software GmbH, Ableton AG, and Image Line NV.