Music Streaming: A Leading Driver Behind Smart Device Adoption Boosts Music Streaming Market Growth Market Expansion in 2025

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What Will the Music Streaming Industry Market Size Be by 2025?
The rapid increase in the size of the music streaming market has been noticeable in the last few years. Expansion from $33.23 billion in 2024 to $36.96 billion in 2025 is anticipated, exhibiting a compound annual growth rate (CAGR) of 11.2%. It is attributed to several factors including digital music distribution, the ubiquity of mobile devices, integration with social media, worldwide licensing agreements, as well as features that allow offline listening.

What's the Long-Term Growth Forecast for the Music Streaming Market Size Through 2029?
Expect a swift expansion in the music streaming market size in the upcoming years. An estimated growth to $66.62 billion is anticipated by 2029, displaying a compound annual growth rate (CAGR) of 15.9%. Factors contributing to this acceleration during the forecast period include the integration of podcasts, social and interactive features, entry into emerging markets, global proliferation and localization, and shared, cooperative playlists. Key emerging trends for the forecast period comprise high-quality, lossless streaming, AI-driven customization, live audio packets, virtual concerts, user-produced content and remix culture, and bundled subscriptions and collaborative opportunities.

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What Are the Key Growth Drivers Fueling the Music Streaming Market Expansion?
A surge in the use of intelligent gadgets is anticipated to fuel the expansion of the music streaming sector. Intelligent devices like smartphones and smart speakers have revolutionized how music is consumed, offering smart features like launching alarms, activating music via voice command, managing other smart appliances at home, and live streaming of music, all powered by a virtual assistant. For instance, SmartTek Solutions, a software development company from the United States that provides software products and oversees IT outsourcing services, revealed in October 2023 that over 41.9% of American households owned an intelligent home device in 2021 and this number is predicted to increase to 48.4% by the year 2025. Thus, the escalating usage of intelligent gadgets is expected to bolster the growth of the music streaming industry.

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Which Emerging Trends Are Transforming the Music Streaming Market in 2025?
The primary emerging trends in the music streaming market are artificial intelligence (AI) and machine learning applications within music streaming devices. These technologies significantly enhance the user's music streaming experience by augmenting storage capacities, refining search suggestions, and amplifying the general experience. For example, in January 2022, Gaana, a music streaming application hailing from India, rolled out a novel product feature that utilizes artificial intelligence to enrich the music consumption experience of its users. The application will adapt music preferences using AI to match an individual's specific occasions or daily moods.

How Is the Music Streaming Market Segmented?
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

Subsegments:
1) By On-Demand Streaming: Subscription-Based Streaming, Ad-Supported Streaming, Downloadable Music (Offline Listening)
2) By Live Streaming: Live Concerts and Events Streaming, Virtual Music Festivals, Artist Live Streams and Performances

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Which Companies Are Leading the Charge in Music Streaming Market Innovation?
Major companies operating in the music streaming market include 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, KKBOX Inc., LiveOne, Wynk Music, Hungama Digital Media Entertainment Private Limited, Anghami, Boomplay Music Africa, Gaana.com, JOOX Music, Saavn Media Pvt Ltd.

Which Regions Are Leading the Global Music Streaming Market in Revenue?
North America was the largest region in the music streaming market share in 2024. The regions covered in the music streaming market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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