Music creator tools forecast Moving towards a hybrid future
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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.
Key Insights
- The music tools landscape maps to six instruments; production, software and sounds; label services; distribution; audience
- The key drivers are: the creator renaissance; potential; the computer music boom. inhibitors are: complexity; streaming economics; clutter
- Music software, and hardware sales grew by 2020, to reach billion
- Hardware accounted the vast majority of revenues 2020, but software, sounds and grew faster compared to
- Total revenues grow by by 2028, reaching with software, sounds and services fastest compared to for hardware)
- The market music production software, sounds and was worth billion in 2020, plugins + VSTs being the single segment, representing
- Sounds revenue worth million in 2020 – growth from 2019 is second to services. Revenues will more double to million by 2028
- The music sounds and services sector will majority subscription by 2026, and of the total by 2028
- The combined making hardware segment grew by 2020 to reach billion, following decline of in 2019
- Music production was worth billion in 2020, by from 2019, and will by by 2028 to reach
- Synthesisers sales go from million in 2020 million in 2028, an increase
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