Music Streaming Market is expected to reach US$ 78.56 Billion in 2028, growing at a CAGR of 15.15% during 2022-2028, reports Stratview Research.
Raipur, Dec. 13, 2022 (GLOBE NEWSWIRE) — Stratview Research, a leading market research firm has launched a report on the Music Streaming Market which provides an in-depth analysis of the market dynamics, current and emerging trends, industry forecast, and competitive landscape.
Click here to get the free sample pdf:
How is the Report Helpful?
The report has a very high utility for the key decision-makers and strategists in terms of accurate market insights, future growth opportunities, and key success factors.
Most importantly, the report analyses the possible impact of COVID-19 on the market dynamics which offers cushioning against the uncertain business environment and helps in streamlining the resources and investment decisions in a fruitful manner.
What are the Top Market Drivers?
According to the report, the Music Streaming Market is driven by a host of factors, some of which are noted below:
Rising popularity of digital platforms as well as growing adoption of smart devices.
Music streaming services include platforms that enable users to listen to podcasts, audio, and watch music videos.
These platforms provide features such as auto customization of the playlist, song recommendations, and hassle-free accessibility on apps as well as browsers..
The report also includes growth rate estimates based upon the intensity of drivers and constraints and provides the users with several graphical illustrations of the key insights.
Music Streaming Market Segmentation:
Stratview Research has segmented the market in the following ways which fulfill the market data needs of multiple stakeholders across the industry value chain.
By Platform (Apps, Browsers),
By Content Type (Audio, Video),
By End-Use (Individual, Commercial)
By Region (North America, Europe, Asia-Pacific, and Rest of the World)
Music Streaming Market Insights
Market Trends by Platform Type
The market has been classified into app & browsers. Under these, the app segment held a significant market share of more than 84.7% in 2021.
Market Trends Content Type
The market has been classified into audio and video. Under these, the audio segment held a significant market share of more than 59.0% in 2021. Increasing preference of users for multi-tasking, especially listening to songs while commuting to exercising, work, or doing household chores. Also, surging number of commercial end-users, such as cafés, restaurants, pubs, and gymnasiums, using audio music streaming apps to play songs in their commercial spaces, thereby boosts the segment growth.
Market Trends by End-Use Type
The market has been classified into individual & commercial. Under these, the individual segment held a significant market share of more than 60.5% in 2021.
Which region offers the best opportunity and growth?
The North American market held the highest share of more than 29.0% in 2021 and is projected to grow at a healthy CAGR in the coming years. This is ascribed to large presence of domestic players, fixed broadband speeds & coverage, growing penetration of connected devices, and improved digital payment infrastructure, further bolsters the regional market growth during the review period.
COVID-19 Impact on the Music Streaming Market
COVID-19 has put an instant halt to many industries across the globe. Lockdown norms in several countries have swiftly affected the global economy by affecting the supply chain, production, and demand in the market. Both direct, as well as indirect impacts of the pandemic, have been incorporated in this report.
To know more about the covid-19 impact, get a free sample report, here:
Who are the Top Market Players?
After a thorough analysis of the market, the experts have listed a few key players and discussed company profiles of the below-given players -
Amazon.com, Inc. (US),
Apple Inc. (Apple Music) (US),
Aspiro AB (Tidel) (Sweden),
Gamma Gaana Limited (India),
Google LLC (YouTube Music) (US),
iHeartMedia, Inc. (iHeartRadio) (US),
Microsoft Corporation (US)
What deliverables will you get in this report?
In-depth analysis of the Music Streaming Market
Detailed market segmentation.
Historical, present, and future market size analysis.
Industry trends, technologies, and advancements.
Growth and operation strategies adopted by key players.
Potential segments/regions offering promising growth.
Geographical presence of the key players.
Related reports which might be useful:
Music Recording Market
Mobile Application Market
About us –
Stratview Research is a global market research firm that offers reliable market reports, market entry strategies, strategic growth consulting, and more. The market experts compile high-quality market information to help users obtain granular level clarity on current business trends and expected future developments. Stratview Research also offers customisation of the reports. Reach out to the analysts to customize the given report according to your priority/requirement.
Stratview Research has also launched ‘Composights’, an online portal that offers free thought leadership reports, whitepapers, market report synopsis, and much more for Composites and allied industries, worth US$ 20,000 every year.
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