Ableton Live has established itself in the industry and is THE standard DAW for both studio and live use. The Prodigy, Skrillex, Rachel K Collier, Vicky O'Neon, Orbital, and many more use live setups created from previous iterations of Ableton Live.

Performance, studio, or both:
All DAWs share common areas, so it can be difficult to decide which is best for you. Ableton's specialty is that it combines both the live and studio environments in a single package. The Clip and Session views share two functions. The grid-based Clip view allows you to launch audio and MIDI clips however you want, build live performances, and change your sets at will; the Session view is your traditional left-to-right recording timeline. Both integrate seamlessly, allowing you to record your live performance as you perform it, or perhaps you have some ideas for a bassline. The Clip view will allow you to test your ideas and swap components until you find the right one for your current session.

Hardware and effects:
If you have a wide range of hardware instruments, Live's MIDI integration is incredibly good, as it allows you to control or be controlled by other equipment. You could run your entire session or live performance through Live, using it as a master sequencer and master effects processor, or hide it as a brain controlled through your current hardware so that your existing hardware units can do even more than before.

Live LINK:
Live Link is a network synchronization system. This allows all units on the same WIFI network to send and receive tempo information + be linked to a master start-stop quantize. A good example is if you are playing live and a friend joins your studio with a LINK-compatible device; once they have connected, press play and their unit will automatically synchronize with Live + Start in time. The advantage is that if your friend wants to change the tempo, with normal MIDI sequencing only the master could change the tempo, but LINK would allow your friend's device to change the tempo and Live would adjust. Pure, unrestricted jamming.
Some examples of LINK-compatible devices include most KORG iOS and Desktop apps + modern AKAI MPC hardware sequencers.

New in Live 12
Transformations and MIDI Generators:
Use MIDI Transformations to add ornaments and articulations, draw acceleration and deceleration curves, connect successive notes and chords, and simulate guitar strumming. Take advantage of MIDI Generators, which allow you to conjure up playful and original ideas to develop and make your own. And go even further with the advanced transformations and generators of Max for Live.

Sound Similarity:
Start with a sample and tell the Live browser to search for comparable instrument or drum sounds and presets, with the help of a set of advanced machine learning algorithms. Or use Sound Similarity to find and swap comparable samples in Simpler or Drum Rack.

New Devices:
Create all kinds of effects, from a subtle and precise mastering-grade warmth to a wild and unpredictable sound degradation with Roar, Live's new saturation and coloration effect. Explore new textures and timbres with the twin sound engines of Meld. Or get even more expressiveness with the latest iteration of Robert Henke's granular synthesis device, Granulator III.

Workflow Improvements:
Stack Live's Clip and Device views to see more of what is happening in your track at a glance. Use Live's Mixer in the Arrangement view to get more information and control without moving to the Session view and breaking the flow. Discover new sounds and find them more easily with the new tagging system and the Browser's search history. And freeze and flatten a track in a single step.

Key Features:
One of the best samplers in the industry:
Ableton Live has set the standards for time and pitch stretching and audio manipulation. Think of it as a giant sampler; by default, any audio is already configured and ready to go.
The best software for live performances:
Ableton Live does not limit you; it can adapt to how you want to perform, whether triggering drum samples or audio clips from your drum machine? Can it help you? Do you need it for a setlist and to select which instruments? Yes. To control an entire modular rig? Well, that too. Live adapts to your workflow, not the other way around.
Hardware Copyright:
If you work with hardware such as drum machines, samplers, synthesizers, and other sequencers, Live helps you bring it all together so that your best ideas come to life.