Report ID : 10347472 |
Published Date : 21 Oct 2022 |
Report Format : PDF,PPT |
Delivery Timeline :48-72 Business Hours
Global Music Streaming Market is valued approximately USD 20.9 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 17.8 % over the forecast period 2020-2027. Music Streaming services include platform that allow audience to listen audio, podcast and music videos and also provide on demand and live streaming services of full-length content through internet without downloading. The increasing consumer preferences toward the live streaming music, the rise in number of service providers, increase in the penetration of smart phones and the rise in number of commercial end users are the major factors driving the market. According to the report of China Based Tencent Music Entertainment group, in the first quarter of 2020, the revenue form online music subscription raised by 70% compared to the revenue of 2019, in addition to these the subscribers of online music touches 42.7 million which is approx. 50.0% a year over year rise. However, the increasing piracy all over the globe impedes the growth of the market over the forecast period of 2020-2027. Also, with the increasing popularity of live streaming music and availability of local content on online platforms is likely to increase the market growth during the forecast period.
The regional analysis of global Music Streaming market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the presence of key companies market such as Apple Inc., Google Inc. and high speed broadband and strong connection of network. Whereas, Europe is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as consumer shift in internet consumption, pattern of using smart phones would create lucrative growth prospects for the Music Streaming market across Europe region.
Major market player included in this report are:
Amazon.com, Inc.
Apple, Inc.
Deezer
Google LLC.
iHeartMedia, Inc.
Pandora Media, Inc.
SoundCloud Limited
Spotify AB
Tencent Music Entertainment Group
Tidal (Aspiro AB)
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Service:
On demand streaming
Live streaming
By Content Type:
Audio
Video
By Platform:
Apps
Browsers
By End Use:
Individual
Commercial
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Music Streaming Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
