250-page market study on cloud music streaming by Fact MR, a leading business and competitive intelligence provider
ICT companies are widely adopting technologies such as cloud computing and artificial intelligence to ensure seamless operations as teams continue to work from home. The emphasis on rapid automation, the use of real-time operation in various end-use sectors such as automotive, food and beverage and others will drive growth.
The report offers actionable and valuable insights into the Cloud Music Streaming market. The latest report from Fact.MR provides details about the current market scenario across different regions along with the historical data and forecast of the market. The report also includes sales and demand information for Cloud Music Streaming Market across various industries and regions.
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Market research by Fact.MR gives exclusive insights on market growth. The study identifies crucial trends driving the growth of the Cloud Music Streaming Market. This newly released report sheds light on vital dynamics, such as drivers, restraints, and opportunities for major market players as well as emerging players associated with production and supply. Latest Fact.MR Report Provides Detailed Analysis of Cloud Music Streaming Market
This newly published and insightful report sheds light on the Cloud Music Streaming Market insights, key dynamics, their impact on the overall value chain from vendors to end users and Cloud Music Streaming Market growth.
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Key insights from market research
- The global cloud music streaming market will reach US$30 billion by 2031.
- Cloud-based music streaming for individual use is expected to reach approximately $23 billion by 2031.
- Commercial cloud music streaming will grow at a CAGR of over 9% over the next 10 years.
- The North American market has a share of over 40%.
- The Japanese market is expected to reach a valuation of US$7 billion by 2031.
- The South Korean market is expected to register a CAGR of 8% over the forecast period 2021-2031.
“Cloud music streaming allows users to find, maintain, store, streamline and sync their music preferences from anywhere, anytime on their devices. Additionally, with advances in technology such as 3G and 4G networks, consumers can access their audio content at high speed through the cloud,” according to an analyst at Fact.MR.
The cloud music streaming market is highly competitive and consists of several major players. Market developments include:
- In February 2019, Sirius XM Holdings, a US-based audio entertainment company, acquired Pandora Media, Inc., a US-based music streaming service provider. With this acquisition, Sirius XM Holdings has increased its audio product customer base by bringing together both Sirius XM Holdings’ exclusive subscription content and Pandora’s highly personalized ad-supported free service under one roof.
- In April 2020, Apple Inc. launched its music streaming service in 52 new countries to expand Apple Music’s global presence.
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More Valuable Insights into Cloud Music Streaming Market
Fact.MR, in its new report, offers an unbiased analysis of the cloud music streaming market, sales and demand for cloud music streaming, analyzing forecast statistics to 2019 and beyond. The study reveals growth projections based on various criteria.
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