Mixing Console Market Trends

Growth Drivers

• Increased Demand for Customization and Personalization - As the music industry continues to diversify, there is an increasing demand for mixing consoles that can accommodate a wide range of genres and styles. This has led to a trend towards more customizable and personalized mixing consoles, with features like user-defined presets and flexible routing options. A vast majority, 97% of advertising experts, within the music, movies and media industry incorporate personalization techniques in their marketing strategies. This allows mixers to tailor their console to the specific sound they are looking for, rather than having to choose between only a handfuls of pre-loaded presets. This is why the demand for mixing consoles, which allow users to customize and personalize their music, is on the rise.
• Rise Of Home Recording Studios - With the rise of home recording studios, there is more demand for mixing consoles that can quickly and easily adapt to different recording setups. This has caused an increase in demand for high-quality mixing consoles with features such as multiple inputs, digital signal processing, and wireless connectivity. This is because the mixing console needs to be able to quickly and easily adjust the EQ, reverb, and other audio settings in order to capture the best sound possible. Additionally, many home recording studios want the ability to record multiple instruments at the same time, which requires a mixing console with more inputs.
• Increasing Demand of Live Streaming and Online Content - The growth of live streaming and online content creation has created a need for compact and portable mixing consoles that can be used in a variety of settings. Approximately a quarter of the time spent viewing content worldwide is dedicated to watching live content while the remaining majority, around 78% is allocated to on-demand content. In the year 2023 43% of individuals residing in the United States have engaged with live streamed content. When comparing data from the quarter of 2021 to that of the previous year there has been a significant increase of approximately 15% in live streaming viewership. Live streaming and content creation requires a lot of equipment, and mixing consoles are essential tools for the broadcaster. Compact and portable consoles allow broadcasters to easily set up their equipment in any location, and they can be powered by batteries, making them even more versatile.

Challenges

• Rapidly Evolving Technology and The Need to keep up with New Developments - The mixing console market is constantly evolving, with new technologies and features being introduced regularly. This can make it challenging for companies to keep up with the latest trends and stay competitive.
• Increased competition from digital consoles and software.
• The need to adapt to new workflows and ways of working.