DUBLIN–(BUSINESS WIRE)–The “Music Streaming Market Size, Share and Trend Analysis Report by Service (On-Demand Streaming, Live Streaming), by Platform (Apps, Browsers), by Type of content, by end use, by region and segment forecast, 2022-2030” report has been added to from ResearchAndMarkets.com offer.
The global music streaming market size is expected to reach USD 103.07 billion by 2030. It is expected to grow at a CAGR of 14.7% from 2022 to 2030.
Tencent Music Entertainment Group
Tide (Aspiro Ab)
The growth of the market can be attributed to the growing popularity of music streaming platforms coupled with increasing disposable income of individuals. Spotify, YouTube Music, Pandora, SoundCloud, iHeartRadio and Apple Music are some of the best-known digital music platforms out there. Many music streaming companies offer free trials as well as paid subscriptions. They also offer premium accounts at certain fees to provide users with various benefits, such as no ads and offline listening. The availability of these digital options, along with declining sales of physical CDs, is contributing to the rapid adoption of music streaming services.
Moreover, cloud-based music is gaining popularity in the market. Companies are focusing on developing user-friendly apps that make it easy to stream music to tablets and smartphones. The inclusion of the cloud component in music streaming platforms enables businesses to enhance their services by providing benefits such as storage saving and easy streaming from multiple devices. Furthermore, factors such as presence of digitally literate population and adoption of smart devices are accelerating the growth of the market.
Music streaming services allow customers to browse and play the music of their choice at any time. 5G has become one of the most popular developments in the market, providing lucrative opportunities for service providers. For example, Amazon.com, Inc. has capitalized on this opportunity by launching a new HD music service that will provide lossless music tracks and downloads to music enthusiasts in the UK, Japan, Germany and the United States. -United. artificial intelligence, virtual reality, and machine learning are expected to enable service providers to offer personalized playlists and seamless user experience, thereby driving the growth of the market.
Highlights of the Music Streaming Market Report
The growing popularity of on-demand music services on platforms such as Spotify, SoundCloud, Tidal, Apple Music, and Bandcamp is expected to drive the market over the forecast period.
Based on content type, the video segment is expected to experience the fastest growth from 2022 to 2030.
The application platform segment accounted for the largest share of revenue in 2021 and is expected to maintain its lead during the forecast period. Customers prefer music apps because of their user-friendly interfaces, developments in smartphone technologies, and increased portability of these apps.
The Middle East and Africa market is expected to register the fastest CAGR of 17.8% from 2022 to 2030.
Main topics covered:
Chapter 1. Methodology and scope
Chapter 2. Executive Summary
Chapter 3. Music Streaming Market Variables, Trends and Scope
3.1. Market overview
3.2. Industry Value Chain Analysis
3.3. Market dynamics
3.3.1. Market Driver Analysis
220.127.116.11. Internet proliferation and penetration of smart devices
18.104.22.168. Integration of advanced technologies in music streaming platforms
22.214.171.124. Availability of regional content on digital platforms
3.3.2. Analysis of market restrictions/challenges
126.96.36.199. Complex government regulatory framework and licensing regimes
188.8.131.52. Threat of pirated channels
3.3.3. Industry Opportunities
3.4. Mapping of penetration and growth prospects
3.5. Business environment analysis tools
3.6. Market entry strategies
Chapter 4. Music Streaming Market: Service Estimates and Trend Analysis
Chapter 5. Music Streaming Market: Platform Estimates and Trend Analysis
Chapter 6. Music Streaming Market: Content Type Estimates and Trend Analysis
Chapter 7. Music Streaming Market: End-Use Estimates and Trend Analysis
Chapter 8. Music Streaming Market: Regional Estimates and Trend Analysis
Chapter 9. Competitive Landscape
For more information about this report visit https://www.researchandmarkets.com/r/ej0txr