Cloud Music Services Market 2022 Insights and Precise Outlook - Spotify AB, Apple Inc., Amazon.com Inc., Google LLC, Times Internet

The Cloud Music Services Market outlook looks extremely promising is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand and supply data (as applicable). The research analysts provide an elaborate description of the value chain, future roadmaps and its distributor analysis. The report provides a comprehensive look at the regions such as North America, Europe, APAC, and ROW of the Cloud Music Services Market.

The report presents the market competitive landscape and a corresponding detailed analysis of the major vendors/key players in the market. Top Companies in the Global Cloud Music Services Market: Spotify AB, Apple Inc., Amazon.com Inc., Google LLC, Times Internet, Pandora Media Inc., Saavn Media Pvt Ltd, ASPIRO AB, NetEase Inc., Deezer SA

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The global Cloud Music Services Market has 475.48 million subscribers in 2020, and it is expected to reach 1360.29 million subscribers by 2027, registering a CAGR of 19.1%, during the forecast period of (2022-2027).

Industry News:

The Cloud music services market is highly competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. These major players with prominent shares in the market are focusing on expanding their customer base across foreign countries. These companies are leveraging on strategic collaborative initiatives to increase their market share and increase their profitability. The companies operating in the market are also acquiring start-ups working on cloud music services to strengthen their product capabilities. Spotify has launched its service in 13 new markets in the Middle East and North Africa, with fully Arabic user experience, offering music fans the best of international and local music, and a wealth of locally-curated playlists, such as Oriental Chill Vibes, and Arabic EDM, among others. Amazon has launched Amazon Prime Music, an ad-free music streaming service available exclusively for Prime members. The service includes features such as unlimited offline downloads, and voice controlled search with Amazon's personal assistant software - Alexa.

Scope of the report:

- Cloud has revolutionized the music industry and the way digital music is being consumed. Owing to its growing penetration and coverage, the mobile phone has mostly become the device of choice for enabling cloud-based music services. According to the IFPI Global Music Report 2018, the total streaming revenues grew by 41.1% and it became the single largest revenue source. In 2017, there were 176 million users of paid subscription accounts globally, with 64 million having been added during the year.

- In 2017, revenue generated from paid streaming also increased, reaching USD 1.49 billion as compared to USD 995 million in 2016. The consistent growth of services, such as Apple Music, Spotify, and Amazon's streaming services are positively impacting the growth of paid subscriptions.

Key Trends:

Increasing Penetration of Smartphones and Tablets drives the Market for Cloud Music Services:

In 2016, the number of smartphones sold to consumers was around 1.5 billion units, which was a significant increase from the 680 million units sold in 2012. Thus, over 28% of the global population owned a smart device in 2016, a figure that is expected to increase to 37% by 2020. With the growing number of smartphones and tablets, the music listener's behavior is changing.

Companies are entering into strategic partnerships with mobile manufacturers to expand their business. For instance, Spotify collaborated with Samsung to make its app the smartphone maker's official music service provider across devices, allowing two companies to create a seamless music listening experience for the user

The report has 150 tables and figures browse the report description and TOC:

https://www.marketinsightsreports.com/reports/02285848079/cloud-music-services-market-growth-trends-covid-19-impact-and-forecasts-2022-2027?mode=206

Important Features of the report:

Detailed analysis of the Global Cloud Music Services Market
Fluctuating market dynamics of the industry
Detailed market segmentation
Historical, current, and projected market size in terms of volume and value
Recent industry trends and developments
Competitive landscape of the Global Cloud Music Services Market
Strategies of key players and product offerings
Potential and niche segments/regions exhibiting promising growth
A neutral perspective toward Global Cloud Music Services Market performance

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