The carnival of riotous sights, scents and sounds that is South By South West (SXSW) is over for another year.

I first attended in 2003, making this my 13th time in a row. That may seem like an unhinged level of dedication to one monstrous event, but I have good reason: there is nothing else like it on Earth.

The music festival which started in 1987 has grown enormously over the time, spawning the offshoot film festival and the tech-fuelled interactive event in the mid 1990s (the latter having surpassed music in popularity recently). But for obsessives like myself, this is the one time of the year when the entire global music scene gathers in one city, and it still feels like the place to be.

That it happens in Austin, Texas with its bohemian yard-art, Tex-Mex culture clash, hipster fashions and flickering neon signs, juxtaposed by the booming economy and high-rise business, only intensifies a rather surreal atmosphere. Tens of thousands of tastemakers and party-goers descend on the town, jacked up on tequila and tacos, looking for a new underground music fix or the rare sighting of a comeback king.

Criticisms have been levelled, saying it's simply too big these days. Too big to see the right acts, to schedule the correct meetings, to do business or showcase your own wares. Accommodation is expensive, flights are lengthy, the delegate's pass can be pricey and quite often there are queues for the key shows. It can be stressful for the artists as well, playing six or seven shows often in blistering heat at challenging locations, with little financial reward for their efforts.

The expanding spin-off projects are big business for the SXSW Inc company, its myriad employees and the city of Austin now, creating a well-known and respected global brand that cannot afford to fail as so many people and tangential businesses would be made redundant. Perhaps it does need to rein itself in to survive and remain as fresh, vital and cutting-edge as it has been over the decades.

In fact 2015 has been a transitional year for the festival, with fewer big names on display and a further return to its original ethos. It feels like the organisers have scaled things back a little. In 2014 Lady Gaga, Kanye West, Jay Z and other big-hitters performed while music nerds were jostled by drunken 'spring break' college kids with little interest in leftfield indie. It's testament to the festival's kudos that mainstream pop stars want to gatecrash the party in the hope some of its cool will rub off.

In a tragic accident last year, four people were killed and 20 injured when a car careered off the road and into a long queue on Red River Street. As a result, temporary and multi-day party permits were allegedly reduced by around 25% this year. Certain corporate sponsors such as iTunes and Doritos pulled out of the festival as well, giving rise to much debate about branding. So SXSW downsized somewhat, and I think it was all the better for it.

Having said that, it is not a boutique experience. Over 2000 acts performed officially this year, with hundreds of unofficial parties happening during the days; Snoop Dogg gave the keynote speech, following in the footsteps of Little Richard, Lou Reed, Bruce Springsteen and Dave Grohl; and fast-food behemoth McDonalds controversially stepped in as co-sponsors alongside the likes of Miller, Mazda and Pepsi. The burger chain planned to host music showcases and not pay the bands, until they were exposed, only to do a last minute U-turn.

The more recognisable names in the programme certainly reflected a conscious sidestep from the middle of the road as well. The old guard was represented by a distinctly edgier pack including original psychedelic punks The Damned, angular experimentalists The Pop Group, avant-garde mischief makers The Residents and revered shoegazers Swervedriver.

Established acts such as Wyclef Jean, John Legend and Laura Marling appeared, but the emphasis was firmly on new music discovery, as it should be. And 'buzz' acts included Grulke Prize-winning Australian grunger Courtney Barnett, London wordsmith Kate Tempest, Canadian popsters Alvvays and Illinois indie-rockers Twin Peaks, amongst others.

Another difference to the annual experience was a distinct change in the weather. Usually baking Austin heat, dusty pavements, sunburn, T-shirts and shades are par for the course. This year, Friday and Saturday saw torrential rain, high winds and even some flooding... It felt as if Scotland brought more than just music with it this year.

Twelve Scottish acts did make the 18-hour journey to Austin to showcase a range of styles and genres, in an attempt to get a foothold in the American market. Creative Scotland assisted with funding yet again, allowing eight of the acts to put a dent in their enormous campaign costs. Although this was the first year in a decade without a specific one-stop-shop Scottish Showcase, every act did play a spread of shows across town.

Emotive rockers Fatherson enjoyed a successful flurry of shows fresh from a euphoric reception in New York; blues-growler Dave Arcari seemed to be constantly crisscrossing the city performing heartfelt solo gigs; and hip hop firebrands Hector Bizerk gave the US a taste of attitude-filled Glasgow rap that shook the UK Music Embassy at Latitude 30.

Bands who returned to develop their ongoing stateside achievements were melancholy indie heroes The Twilight Sad, currently enjoying their best year to date, and female grunge duo Honeyblood, who were warming up for their Belle & Sebastian tour support across the US. The buzz on Honeyblood is certainly getting louder.

With more impassioned live performances to packed rooms from fuzzy rockers Holy Esque and epic song-craftsmen Roddy Hart & The Lonesome Fire, the prize for the loudest and most uncompromising band from Scotland went to United Fruit, whose hook-filled, visceral rock turned heads all over the festival.

Others who attended under their own steam were Hyperdub Records main-man Kode 9, LuckyMe electronica duo The Blessings and hip hop producer-du-jour Hudson Mohawke. Scotland may be renowned for its traditional music and indie bands, but let's not forget the global impact our dance music is having too.

What a remarkable spread it was. I attempted to see all the Scottish acts at least once, and was knocked out by the sheer professionalism, commitment and heart on display at every gig. We were represented by a truly world-class cross-section of musicians.

Possibly the biggest surprise for me, however, was meeting Charlotte Brimner, a 17-year-old singer-songwriter from Dundee. She hosted a music technology seminar called Making Music Physical Again at the interactive festival, and performed at various unofficial events. As her month-long tour of the US, booked and financed independently by her mother, came to an end, it was inspiring to see someone so young accomplishing so much without outside help.

There's talk of SXSW becoming too expensive an investment for many European acts as budgets are curtailed across the industry. With Eurosonic, Reeperbahn, Iceland Airwaves and The Great Escape all closer to home, as well as our very own, home-grown events Wide Days and XpoNorth, maybe public and private money could be better spent elsewhere.

Despite these doubts, the incessant corporate branding and noticeable downsizing, I still believe it to be the most expansive, best attended and most useful event of the year. The industry showcases new talent, fans see their favourite artists up close, artists play to ecstatic crowds and have some of the best concerts of their lives. Within the environs of 'weird' Austin, the "Live Music Capitol of the World" with all its beer and barbecue, the crazy chaotic kaleidoscope that is SXSW remains number one.

Vic Galloway presents on BBC Radio Scotland at 9pm on Mondays and 11pm on Thursdays, with a T in the Park 2014 special tomorrow and Idlewild live in session on April 6. Contact Vic at www.twitter.com/vicgalloway