The Online Music Streaming market will reach at $123.32 bn by 2032.

The global music streaming market size was valued at USD 29.45 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 24.7% from 2022 to 2032. The Online Music Streaming market will reach at $123.32 bn by 2032. The rising penetration of digital platforms and the growing use of smart devices are anticipated to boost the market growth over the forecast period. Platforms that allow users to listen to audio and podcasts and watch music videos are examples of music streaming services. These platforms are gaining popularity owing to features such as song recommendations, automatic playlist personalization, and hassle-free connectivity on apps and browsers. Moreover, the expanding podcast genres on these portals are propelling the market growth

Leading players of Online Music Streaming including:

Amazon, Apple, Google, Spotify Ab, Baidu, Inc., Pandora Media, Realnetworks, Samsung Electronics Co., Ltd., Sony Corporation, Vodafone Group, CBS, Deezer, EMI Music Publishing, Fox Music Publishing, Hungama Digital Media Entertainment, Microsoft, Universal Music Group, Aspiro, Jamendo, Blinkbox Music, Gaana.com, Grooveshark, Guvera, Mixcloud, Myspace, Rara, Napster, NetEase, iQIYI

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Service Insights
The on-demand streaming segment captured the largest revenue share of over 70.0% in 2021. This segment is likely to dominate the market over the forecast period. On-demand streaming services have substantially restricted illegal music streaming and downloading for all parties, from distributors to musicians. Moreover, they help improve customer convenience by offering discovery features and suggestions based on their preferences.

The live streaming segment is anticipated to register the highest CAGR of 16.0% from 2022 to 2030. The potential of live streaming to reach a larger audience is the primary factor driving the segment. Live streaming is the process of delivering live content to individuals via the internet in real-time. Apart from services that are specifically designed for live streaming, several social media outlets also endorse live videos. The growing popularity of live videos has encouraged musicians to stream live on sites such as YouTube Live, Facebook, Instagram, and Twitter's Periscope. This trend is anticipated to continue driving the segment over the forecast period.

Platform Insights
The apps segment accounted for the largest revenue share of over 85.0% in 2021 and is expected to witness the fastest growth from 2022 to 2030. Music apps dominate the music streaming industry as they offer up to thousands of song tracks for purchase and a significant number of tunes to stream for free. In addition, the global demand for music streaming apps is influenced by the high demand for media streaming, which is propelled by factors such as high-speed internet and the increasing use of smartphones. Numerous vendors have developed web and mobile media platforms to make their services available for cross-device access, such as web, desktop, and mobile apps, across different operating systems.

Music streaming services allow music and video content to be delivered via the internet without the need for traditional broadcasting or cable players. These services are delivered on apps and browsers on consumers' handheld devices, such as tablets, smartphones, and laptops. Moreover, the global rollout of 5G internet connections is expected to trigger the demand for streaming technologies that can provide users with a continuous listening experience without the need to download files on personal devices.

Online Music Streaming Segmentation by Type:

Paying Member, Digital Album, Paid Music Pack, Single Purchase, Free of Charge.

Online Music Streaming Segmentation by Application:

Cell Phone, Flat, Computer

Online Music Streaming report answers some key questions:

What is the expected growth of global Online Music Streaming after covid-19 vaccine or treatment is found?
• What are the new business practices that can be implemented post-pandemic to remain competitive, agile, customer-centric, and collaborative in the global Online Music Streaming?
• Which specific sectors are expected to drive growth in the global Online Music Streaming?
• What are key government policies and interventions implemented by leading global Online Music Streaming countries to help further adoption or growth of Online Music Streaming .
• How have the market players or the leading global Online Music Streaming firms have addressed the challenges faced during the pandemic?
• What growth opportunities the global Online Music Streaming offers?
Highlights of the Report:

The growth of the market can be attributed to the rising popularity of music streaming platforms, coupled with the increasing disposable income of individuals. Spotify, YouTube Music, Pandora, SoundCloud, iHeartRadio, and Apple Music are some of the most well-known digital music platforms in the market. Many music streaming companies offer free trials as well as paid subscriptions. They also offer premium accounts at certain fees to provide users with various benefits, such as no ads and offline listening. The availability of such digital options, along with the declining sales of physical CDs, is contributing to the rapid adoption of music streaming services.

Moreover, cloud-based music is gaining wide popularity in the market. Companies are focused on developing user-friendly apps that allow music to be streamed easily on tablets and smartphones. The inclusion of the cloud component in music streaming platforms enables companies to enhance their services by offering benefits such as storage saving and easy streaming from multiple devices. Furthermore, factors such as the presence of a digitally literate population and the adoption of smart devices are accelerating market growth.

Music streaming services enable customers to browse and play music of their preference at any time. 5G has become one of the most popular market developments, offering lucrative opportunities to service providers. For instance, Amazon.com, Inc. has capitalized on this opportunity by launching a new music HD service that will provide lossless music tracks and downloads to music enthusiasts in the U.K., Japan, Germany, and the U.S. Furthermore, emerging technological breakthroughs such as artificial intelligence, virtual reality, and machine learning are expected to enable service providers to offer personalized playlists and a seamless user experience, thus boosting the growth of the market.

Music Streaming Market Report Highlights

The growing popularity of on-demand music services on platforms such as Spotify, SoundCloud, Tidal, Apple Music, and Bandcamp is expected to drive the market over the forecast period.
Based on content type, the video segment is anticipated to witness the fastest growth from 2022 to 2030.
The apps platform segment accounted for the largest revenue share in 2021 and is expected to maintain its lead over the forecast period. Customers prefer music apps owing to their user-friendly interfaces, developments in smartphone technologies, and increased portability of these apps.
The Middle East and Africa market is expected to register the fastest CAGR of 17.8% from 2022 to 2030 .

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Table of Content:

1 Scope of the Report
1.1 Market Introduction
1.2 Research Objectives
1.3 Years Considered
1.4 Market Research Methodology
1.5 Economic Indicators
1.6 Currency Considered
2 Executive Summary
3 Global Online Music Streaming by Players
4 Online Music Streaming by Regions
4.1 Online Music Streaming Size by Regions
4.2 Americas Online Music Streaming Size Growth
4.3 APAC Online Music Streaming Size Growth
4.4 Europe Online Music Streaming Size Growth
4.5 Middle East & Africa Online Music Streaming Size Growth
5 Americas
6 APAC
7 Europe
8 Middle East & Africa
9 Market Drivers, Challenges and Trends
9.1 Market Drivers and Impact
9.1.1 Growing Demand from Key Regions
9.1.2 Growing Demand from Key Applications and Potential Industries
9.2 Market Challenges and Impact
9.3 Market Trends
10 Global Online Music Streaming Forecast
11 Key Players Analysis
12 Research Findings and Conclusion

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