Music Streaming Market is expected to reach US$ 33,489.4 Mn with a CAGR of 19.8% by 2026

Music Streaming Market 2021-2026

Report Details:

This report provides in depth study of "Music Streaming Market" using SWOT analysis i.e. Strength, Weakness, Opportunities and Threat to the organization. The Music Streaming Market report also provides an in-depth survey of key players in the market which is based on the various objectives of an organization such as profiling, the product outline, the quantity of production, required raw material, and the financial health of the organization.

Drivers and Constraints

The fundamental dynamics that are explored in the report hold substantial influence over the Music Streaming market. The report further studies on the value, volume trends, and the pricing history of the market. In addition to it, various growth factors, restraints, and opportunities are also analyzed for the market to study the in-depth understanding of the market.

This report also analyzes the impact of Coronavirus COVID-19 on the Music Streaming industry.

The global music streaming market is expected to grow at a CAGR of 19.8% during the forecast period. The music streaming market was valued at US$ 6,423.6 Mn in 2017, and is projected to grow significantly to reach US$ 33,489.4 Mn by 2026 due to complimented by the decreasing data charges and increasing internet speed.

Persistence Market Research (PMR) has recently published a report titled "Music Streaming Market - Global Industry Analysis 2013-2017 and Market Forecast 2018-2026." Music streaming has witnessed an upsurge in the past three years with increasing digitalization and increasing adoption of digital music. As a result of increasing adoption of music streaming, a decline in the market share of downloaded music, in the global digital music market, is witnessed, in terms of value.

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Key Players:

The report has profiled some of the Important players prevalent in the global like - Apple, Google, Spotify, Deezer, Pandora, SoundCloud, JOOX, Amaon Music, iHeartRadio, and TIDALand more.

This report covers the sales volume, price, revenue, gross margin, manufacturers, suppliers, distributors, intermediaries, customers, historical growth and future perspectives in the Music Streaming.

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In this report, PMR has segmented the global music streaming market on the basis of type of streaming, end-user, content type and region. By type of streaming, the market is sub-segmented into rugged live streaming and on-demand streaming. With the increasing introduction of audio music streaming applications, offering advanced features with its subscription based music streaming applications, end-users across the globe have started adopting on-demand music streaming services. However, owing to the presence of huge audience over YouTube, a considerable market share is held by live streaming segment as well. One of the recent development witnessed across this segment, is the introduction of subscription based YouTube music streaming option. This, as a result, is expected to drive the growth of on-demand music streaming segment.

Based on end-user, the music streaming market is sub-segmented into residential and commercial. The growing consumer disposable income and increasing adoption of advanced consumer electronic devices such as smartphones and laptops across the globe, especially across developing countries such as China, India etc. are some of the major factors driving the growth of residential sub-segment, in the global music streaming market. In addition to this, owing to the restricted adoption of music streaming across commercial segment, the same segment is, thus, expected to witness a comparatively lower CAGR, in the global music streaming market.

Based on content type, the music streaming market is sub-segmented into audio streaming and video streaming. The low cost associated with the advertisements showcased over free video music streaming applications such as YouTube, especially in Asia Pacific region, in comparison to free audio music streaming applications, is one the factor owing for the restricted market value in the global music streaming market. In addition to this, increasing volume of audio music streaming service subscribers globally, complimented by the high prices associated with the subscription across all major audio music streaming applications such as Apple, Spotify, Amazon Music etc., has been a major driving factor for the audio streaming segment.

Furthermore, on the basis of geography, the North America music streaming market is expected to dominate the global music streaming market due to high adoption of digital music in the U.S., availability of resources for offering advanced music streaming experience to the end-users, and high disposable income of the end-users, in the region. The region has witnessed the adoption of advanced data services such as uninterrupted 4G and high speed broadband connectivity since the past four years as well. These factors are fuelling the growth of the music streaming market in North America. Moreover, the music streaming market has high potential in SEA & Pacific and China owing to the increasing adoption of free music streaming applications such as JOOX, Saavn, Gaana etc.

Key Stakeholders:

Music Streaming Market Manufacturers
Music Streaming Market Distributors/Traders/Wholesalers
Music Streaming Market Subcomponent Manufacturers
Industry Association
Downstream Vendors

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Major Highlights of the Music Streaming Market Report:

The Music Streaming Market analysis report offers an in-depth study of the potential market growth opportunities and challenges.
The report dives deeper into the market and explains the dynamic factors bolstering market growth.
The report deeply assesses the current, historical market size, market share, and revenue growth rates to offer accurate market projections for the forecast period.
The report analyzes the Music Streaming Market presence across major regions of the world.
It determines the production & consumption capacities and demand & supply dynamics of each regional market.
The report further illustrates the intense competition among the key market players and highlights their effective business expansion plans and strategies.
It provides company overview and SWOT analysis of each of the market players.

Key Questions Answered in This Report:

What will the Market growth rate in Future?
What are the key factors driving the global Market?
Who are the key manufacturers in Market space?
What are the opportunities and threats faced by the vendors in the global industry?
What are sales, revenue, and price analysis by regions of industry?
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This release was published on openPR.