The increasing number of live concerts and music events, flourishing entertainment and media industry, and growing need for effective collaboration among musicians will drive the growth of the music composing software market at a CAGR of 23.8% during the forecast period of 2020–2030. At this rate, the market, which was valued at $177.4 million in 2019, is expected to reach $1,871.5 million by 2030. The increasing utilization of online music streaming services will also contribute to the advance of this market.

Online music streaming services make a substantial use of software. In addition, music tutorial platforms use the software for the training on and stimulation of workflows. Such platforms are gaining popularity among new musicians, as these tutorials are generally available for free. These learning platforms focus on improving the skillset of musicians, based on the course, which is offered at the beginner, intermediate, and advanced levels. As the number of learners increases, the demand for music composing software will also grow.

Another factor driving the growth of the music composing software market is the increase in the number of music events and live concerts. A rise in the number of musicians has led to an increase in the number of such events. Additionally, organizations including the American Society of Composers, Authors, and Publishers (ASCAP) are taking initiatives to promote new talent, such as organizing conferences, music contests, and live concerts, wherein the software is used. According to a London-based international online magazine, Bachtrack Ltd., 20,535 classical music concerts were organized in 2019.

The music composing software market has three major segments: deployment, instrument simulation, and operating system. The deployment segment is bifurcated into the cloud and on-premises categories. In 2019, the on-premises category held the larger market share due to the rising concerns for data security, on account of the increasing incidence of music leak. Moreover, the increasing focus on transferring musical tracks through a secured network and working effectively with other members also makes on-premises the preferred mode of deployment.

Geographically, the global music composing software market was dominated by North America during the historical period of 2014–2019. The fast-paced growth of the music industry, rising focus on the integration of new technologies for music streaming services, trend of consuming music online, and strong presence of key players have defined the growth of the regional market. Because of the rising accessibility of streaming services in the two North American nations, music composing software will witness an increasing demand here during the forecast period.

However, the fastest music composing software market growth is expected from Asia-Pacific (APAC) region during the forecast period, driven by the expanding media and entertainment sector in India, China, Japan, South Korea, and Australia. China, in particular, generates a significant market revenue due to the widescale application of the software in video games, movies, and music albums. In stark contrast, the Indian market is still at an infant stage, so holds an immense potential for the adoption of the software because of the rising number of music schools and aspiring musicians.

Therefore, the technological advancements in the media and entertainment industry will contribute to the growth of the market during the forecast period.