Music creator tools forecast Moving towards a hybrid future
Our clients have full access to all of our reports. Clients can log in to read this report. Click here to become a client or, you can purchase this individual report.
The 20,000 Foot View: Once upon a time, music software and hardware were distinct market segments, but now they are increasingly fusing into a network of hybrid creator tools ecosystems. Standalone hardware still has a vibrant future, but the real momentum lies with software, sounds, services and the hardware that supports them.
- The music creator tools landscape maps to six segments: instruments; production, software and sounds; services; label services; distribution; audience
- The key market drivers are: the creator renaissance; streaming’s potential; the computer music boom. Its inhibitors are: complexity; streaming economics; creator clutter
- Music software, sounds and hardware sales grew by in 2020, to reach billion
- Hardware accounted for the vast majority of revenues in 2020, but software, sounds and services grew faster compared to
- Total revenues will grow by by 2028, reaching billion, with software, sounds and services growing fastest compared to for hardware)
- The market for music production software, sounds and services was worth billion in 2020, with plugins + VSTs being the largest single segment, representing
- Sounds revenue was worth million in 2020 – its growth from 2019 is second only to services. Revenues will more than double to million by 2028
- The music software, sounds and services sector will pass majority subscription by 2026, and reach of the total by 2028
- The combined music making hardware segment grew by in 2020 to reach billion, following a decline of in 2019
- Music production hardware was worth billion in 2020, up by from 2019, and will grow by by 2028 to reach billion
- Synthesisers sales will go from million in 2020 to million in 2028, an increase of
Companies and brands mentioned in this report: Algonaut, Apple, Arcade, Arturia, Atlas, Auxy, Avid, AWAL, Bandcamp, BandLab, Battery, Beatport, Discord, Elektron, Endless, Etsy, Garageband, Kobalt, Landr, Loopcloud, Native Instruments, Music Maker JAM, Netflix, Output, Reddit, Reverb, Roland, Sony Music, Soundbetter, Soundcloud, Soundstorming, Soundtrap, Splice, Spotify, Teenage Engineering, TikTok, Voisey, YouTube, Zenbeats