Global Music Streaming Market Segmented Application and Geography Trends, Growth and Forecasts to 2022 – 2031

Kenneth Research, in its repository of market research reports, have recently added a report on Global Music Streaming Market which emphasizes on the latest trends, key opportunities, drivers, and the challenges associated with the growth of the market during the forecast period, i.e., 2022-2031.

U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Global Music Streaming Market products.

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Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further.

Global Music Streaming Market is valued approximately USD 20.9 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 17.8 % over the forecast period 2020-2027. Music Streaming services include platform that allow audience to listen audio, podcast and music videos and also provide on demand and live streaming services of full-length content through internet without downloading. The increasing consumer preferences toward the live streaming music, the rise in number of service providers, increase in the penetration of smart phones and the rise in number of commercial end users are the major factors driving the market.

According to the report of China Based Tencent Music Entertainment group, in the first quarter of 2020, the revenue form online music subscription raised by 70% compared to the revenue of 2019, in addition to these the subscribers of online music touches 42.7 million which is approx. 50.0% a year over year rise. However, the increasing piracy all over the globe impedes the growth of the market over the forecast period of 2022-2031. Also, with the increasing popularity of live streaming music and availability of local content on online platforms is likely to increase the market growth during the forecast period.

The regional analysis of global Music Streaming market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the presence of key companies market such as Apple Inc., Google Inc. and high speed broadband and strong connection of network. Whereas, Europe is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as consumer shift in internet consumption, pattern of using smart phones would create lucrative growth prospects for the Music Streaming market across Europe region.

Major market player included in this report are:

Amazon.com, Inc.
Apple, Inc.
Deezer
Google LLC.
iHeartMedia, Inc.
Pandora Media, Inc.
SoundCloud Limited
Spotify AB
Tencent Music Entertainment Group
Tidal (Aspiro AB)

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

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The detailed segments and sub-segment of the market are explained below:

By Service:

On demand streaming
Live streaming
By Content Type:
Audio
Video

By Platform:

Apps
Browsers

By End Use:

Individual
Commercial
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific

China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2017, 2018
Base year – 2019
Forecast period – 2022 to 2031

Target Audience of the Global Music Streaming Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors

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The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analys  & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
  •  Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook

About Kenneth Research

Kenneth Research provides scheduled syndicated reports that help industry professionals and organizations decipher market trends to take significant decisions and plan strategies. We cater to a wide range of industries including healthcare & pharmaceuticals, ICT & telecom, automotive & transportation, energy & power, chemicals, FMCG & food, aerospace & defence, among others. Our research team ensures to track and analyze the industry on a regular basis to offer strategic business consultancy services on a global level. We, at Kenneth Research, are adept at capturing descriptive insights on crucial topics to help our clients make their informed decisions.

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