A major driving factor of the music composing software
market is the growing media and entertainment industry. As per the U.S.
Department of Commerce, International Trade Administration, the global media
and entertainment market reached a value of $1.9 trillion in 2016. The market
is growing due to factors including digitization, multiple-devices,
multiple-platforms, and technological advancements. The demand for music composition
software is increasing for composing different forms of music for a wide
variety of media and entertainment segments, such as movies/cinemas,
advertising, gaming, television, publishing, music, and the internet.
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Several opportunities are also being provided to the musicians to participate in music contests and live concerts by different organizations such as the American Society of Composers. A key trend being observed in the music composing software market is the rising availability of online music tutorials, which make extensive use of this software. Moreover, these tutorials are often free, which further leads to their increased popularity among musicians who are beginners.
Another factor leading to the growth of the music
composing software market is the increasing inclination towards music
composing software. Musicians, music schools, and individuals in countries such
as the U.K., Australia, the U.S., Canada, and Germany have started making use
of this software. In addition to this, the demand for music composing software
is also growing due to the increasing number of musicians.
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For example, LinkedIn Corporation provides music composition
training and tutorials, through its online learning platform Lynda.com, that
make use of different music composition software. The online tutorials help
improve the skill sets of users based on the course selection, which include
beginner, intermediate, and advanced levels.
Global Music Composing Software Market Segmentation
