Audio Streaming Market Analysis Report, Regional Outlook with Key Players - Microsoft Corp., Pandora Media Inc., Rhapsody International Inc., Saavn, LLC, Slacker Inc., and Spotify.

Coherent Market Insights has announced the addition of the “Global Audio Streaming Market report 2017-2026”. The report classifies the Global Audio Streaming Market in a precise manner to offer detailed insights about the aspects responsible for augmenting as well as restraining market growth.

This report studies the global Audio Streaming Market, analyzes and researches the Audio Streaming Market development status and forecast in North America, Europe, Asia Pacific, Latin America and Rest of the World. This report focuses on the top players in global market, like Apple Inc., Deezer, Alphabet Inc., Guvera Ltd., Hungama.com Pvt. Ltd., Microsoft Corp., Pandora Media Inc., Rhapsody International Inc., Saavn, LLC, Slacker Inc., and Spotify.

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This technology aids consumers to gain legal access to high quality content with minimal subscription costs and may even be provided as a complimentary service over a defined service period. Proliferation of smartphones and high speed Internet technology such as 3G, 4G, and LTE networks, has led to easy access to media services for entertainment purposes. These services offer access to millions of songs with uninterrupted access, increasing consumer preference towards on-demand products and services through smartphone apps, coupled with innovative services such as providing individual preferences and personalized playlist options. This is expected to aid in growth of the market through the forecast period.

Increasing consumer inclination toward paid services to access high-quality and exclusive content is expected to support market growth

Ad supported services accounted for the largest user share in the market in 2016. However, subscription based services was the largest revenue generating segment in the audio streaming market. Moreover, consumers in developed economies prefer premium content with paid subscription as against free services. Requirement to capitalize on this opportunity, industry participants are increasingly focusing on paid services as a part of their offerings. This is expected to help industry participants in establishing strong foothold in the global audio streaming market.

Growing piracy of the licensed content is expected to be a challenge for the industry growth

Revenue generated from these streaming technologies is expected to witness considerable surge. However, market is expected to face significant challenges from growing piracy across the globe, specifically in emerging economies. Moreover, low profit margins, licensing related expenditure & efforts and growing competition owing to high threats from new entrants are expected to consistently hinder the overall audio streaming market growth.

U.S. accounted for the largest share in 2016, owing to presence of large number of chief participants in the region. Moreover, consumers in the country are increasingly inclined towards these services, owing to regulated availability of music content. Emerging economies in South Asia, primarily China and Hong Kong are expected to showcase double digit CAGR over the forecast period (2017–2025). These growth prospects can be attributed to highly developed music streaming market in China, increasing stringency of regulations to reduce piracy, and growing spending capacity of the users in these regions. According to IFPI Recording Industry report in 2015, around 75% of the overall revenue of recorded music in China was obtained from audio streaming.

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This release was published on openPR.