Reports Music

Music creator tools forecast Moving towards a hybrid future

Report by Mark Mulligan
Cover image for Music creator tools forecast
Synopsis PDF PowerPoint Excel

Already a client? Log in to read this report. Become a client or purchase this 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.

Key Insights

  • 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 

Unlock critical media insight and intelligence for competitive advantage

Become a Client
Already a client? Login to read this report

Or, purchase this report

Purchase this report