Music streaming

Global Music Streaming Market 2022-2028: Growing Popularity of Online Music Streaming

Market size – USD 23.6 billion in 2020, market growth – at a CAGR of 16.5%

NEW YORK CITY, NEW YORK, USA, July 22, 2022 / — The global music streaming market size is expected to reach USD 80.6 billion in 2028 and register a CAGR of 16.5% over the period forecast, according to the latest report from Reports and Data. Growing competition among music streaming service providers and growing number of users streaming digital content on smartphones, tablets and desktops are key factors that are expected to continue driving the market revenue growth during of the forecast period.

Major players are investing in advanced technologies such as 5G for streaming, augmented reality (AR), virtual reality (VR), holograms, cloud-based services and artificial intelligence (AI) to achieve a competitive advantage and take advantage of revenue opportunities. Also, the advent of enhanced features such as track mixing, one-touch automated custom playlists, and voice assistance are expected to continue improving the user experience on these platforms in the future.

Consumers prefer to pay for music content due to increased disposable income. Providing free trial and paid subscription expands the user base and provides information to further improve online music streaming services. However, certain user privacy and security threats and copyright related issues related to streaming music in audio and video recording are expected to restrain the market growth to some extent during the forecast period.

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Key Profiles in the Music Streaming Market Report:
• Google LLC
• Apple Inc.
• Spotify AB
• Pandora Media
• Deezer
• Limited SoundCloud

Market segmentation :
Content Type Outlook (Revenue, USD Million; 2018-2028)
• Audio
• Video

Platform Outlook (Revenue, USD Million; 2018-2028)
• Browsers
• Apps

Services Outlook (Revenue, USD Million; 2018-2028)
• Live broadcast
• On demand

End-Use Outlook (Revenue, USD Million; 2018-2028)
• Individual
• Commercial

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Highlights of the Music Streaming Market Report:
• A comprehensive overview of the global music streaming industry.
• Accurate market projections in terms of market size, share and volume.
• In-depth study of global market dynamics such as key market revenue growth drivers, opportunities, threats, challenges, restraints, and future growth avenues.
• In-depth analysis of upcoming market trends.
• Qualitative and quantitative analyzes of the music streaming market.
• In-depth study of the main regional markets of the music streaming market.
• Complete overview of the competitive landscape of the market.
• Brief overview of company profiles and portfolios.

Key Regional Markets Covered in the Report:
• North America
o United States
o Canada
o Mexico

• Europe
o Russia
o United Kingdom
o Germany
o France
o Rest of Europe

• Asia Pacific
o China
o Japan
o India
o South Korea
o Rest of Asia-Pacific

• Latin America
o Brazil
o Rest of Latin America

• Middle East and Africa
o Saudi Arabia
o Israel
o Rest of the Middle East and Africa

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About reports and data
Reports and Data is a market research and consulting firm that provides syndicated research reports, custom research reports and consulting services. Our solutions are uniquely focused on your goal of locating, targeting and analyzing changes in consumer behavior across demographics, across industries and helping customers make a smarter business decision. We offer market intelligence research ensuring relevant, fact-based research across multiple sectors including healthcare, technology, chemicals, power and energy. We are constantly updating our search offerings to ensure that our clients are aware of the latest trends existing in the market. Reports and Data has a strong base of experienced analysts in various areas of expertise.

Tushar Rajput
Reports and data
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