The global music production software market is forecast to grow at a CAGR (compound annual growth rate) of 8.65% during the period 2018-2022, according to a new report.
The report covers the present scenario and the growth prospects of the global music production software market for 2018-2022 and highlights the growing use of AI by start-ups to compose music.
According to the report, AI is expected to be a "game-changing technology" in the music production market.
One of the major drivers for this market is the increasing adoption of software by DJs for song mixing.
The report also states that one of the major factors hindering the growth of this market is the declining interest in learning music.
People are taking less interest in learning music because of the emergence of alternative forms of entertainment such as smartphones and social media.