Mobile Cloud Music Services Market Insights by Type, Service, Device, Application, Growth and Demand Forecast to 2024
Now-a-days, music is being followed religiously as a trend, by almost every human being on earth. This has ascended the need to provide convenient access to music by consumers.
Asia-Pacific is expected to witness the highest growth in the mobile cloud services market owing to the growing number of smartphone users and establishment of network infrastructure to enable improved internet connectivity in the region.
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With transformations taking place in consumer lifestyles, smartphones have notably become an inseparable part of their lives, owing to the convenience and availability of access to entertainment services provided on the device. In the lieu of these lifestyle changes, the music industry has also undergone severe transformations in the way music is now delivered to people.
Mobile cloud music services are one of those transformations that are changing the way music is made available to people. It has largely eliminated the need for physical distribution channels for music selling firms along with an added advantage of minimal required marketing efforts. Consumers too have now reduced on the purchase of separate physical storage devices to store and play their favourite songs as the cloud platform can appropriately serve their requirements. Also, mobile cloud music service companies have been able to generate substantial revenues through displaying app-based ads as a large number of consumers subscribe to the free-services model.
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As users look for a place where they can store their playlists and play it on their various internet connected devices on the go, mobile cloud music services are able to fulfil the requirement. Moreover, increasing use of wearable devices and the adoption of internet-of-things technology is further expected to fuel the demand for mobile cloud music services during the forecast period.
The key players operating in the mobile cloud music services market include Amazon.com Inc., Apple Inc., CBS Corp., Google Corp., MOG Ltd., Rhapsody International Inc., Sony Corp., Spotify Ltd. There are other vendors in the cloud music services market that offer cloud music streaming services, catering to consumer segment belonging to a particular region.
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