Music Streaming Global Market Analysis, Trends, Growth, Research And Forecast 2033

The new report published by The Business Research Company, titled "Music Streaming Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033", delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the music streaming market size has grown rapidly in recent years. It will grow from $30.04 billion in 2023 to $33.97 billion in 2024 at a compound annual growth rate (CAGR) of 13.1%. The music streaming market size is expected to see rapid growth in the next few years. It will grow to $57.78 billion in 2028 at a compound annual growth rate (CAGR) of 14.2%.

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Smart Device Adoption Boosts Music Streaming Market Growth
The increasing adoption of smart devices is expected to propel the growth of the music streaming market. Smart devices such as smartphones, and smart speakers have changed the way of listening to music. They include smart features such as the ability to set alarms, play music on voice command, control smart devices in-home, and stream live music, as they are powered by a virtual assistant. For instance, in October 2023, according to SmartTek Solutions, a US-based software development firm offering software products and managed IT outsourcing services, over 41.9% of US homes possessed a smart home device in 2021, with this figure expected to rise to 48.4% by 2025. Therefore, the increasing adoption of smart devices will drive the growth of the music streaming market.

AI And Machine Learning Transform Music Streaming Experience
Artificial intelligence and machine learning in music streaming devices are the key trends in the music streaming market. Technologies like artificial intelligence and Machine learning enhance the music streaming experience by increasing storage and improving the search recommendations, improving the overall experience. For instance, in January 2022, Gaana, an India-based music streaming app introduced a new product feature using artificial intelligence to enhance the music listening experience for its listeners. The app will modify music preferences using artificial intelligence to suit a person's particular occasion or daily mood.

The music streaming market covered in this report is segmented -

1) By Service: On-Demand Streaming, Live Streaming
2) By Content: Audio, Video
3) By Platform: Application-Based, Web-Based
4) By Revenue Channels: Non-Subscription, Subscription
5) By End-Use: Individual, Commercial

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Major companies operating in the music streaming market report are Amazon.com Inc., Apple Inc., Google LLC, Spotify AB, Melon Corporation, Sirius XM Holdings Inc., Yandex Music, Tencent Music Entertainment Group, iHeartmedia Inc., Tidal Music LLC, Pandora Media Inc., Kugou Music, Audacy, Kuwo Music, Cumulus Media Inc., NetEase Cloud Music, SoundCloud Global Limited & Co KG, Deezer SAS, Napster Technologies Inc., KKBOX Inc., LiveOne, Wynk Music, Hungama Digital Media Entertainment Private Limited, Anghami, Boomplay Music Africa, Gaana.com, JOOX Music, Saavn Media Pvt Ltd., Xiami Music, Zvooq AB

Contents of the report:
1. Executive Summary
2. Music Streaming Market Report Structure
3. Music Streaming Market Trends And Strategies
4. Music Streaming Market - Macro Economic Scenario
5. Music Streaming Market Size And Growth
…..
27. Music Streaming Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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