The emerging era of streaming media delivery fuelled by cloud technologies, high-speed internet and increasing adoption of smartphones are significantly driving the global music streaming market. Since last few year music streaming market is witnessing an upsurge mostly due to the reduced cost of data. The growing consumer disposable income and high population of young and middle-aged people are creating a significant demand for the music streaming market. The subscription models are having a significant impact on the growth of global music streaming market. Vendors are offering regional specific music and original content to attract the customers and to increase the number of subscriptions. MARKET DYNAMICS
In the music streaming market, the trend of cloud-based music is being witnessed. Moreover, vendors are developing various user-friendly applications for easy streaming if music over smartphones and tablets. With the introduction of the subscription model, on-demand streaming is witnessing a high demand from the consumer side. However, freemium models are one of the major challenges for market growth. The freemium model is hindering the market growth mostly in the price-sensitive market of Asia-Pacific.
The "Global Music Streaming Market Analysis to 2027" is a specialized and in-depth study of the music industry with a special focus on the global market trend analysis. The report aims to provide an overview of music streaming market with detailed market segmentation by content type, end-use, streaming type, revenue model, and geography. The global music streaming market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading music streaming market players and offers key trends and opportunities in the market.
The global music streaming market is segmented on the basis of content type, end-use, streaming type, and revenue model. Based on content type, the market is segmented as audio streaming and video streaming. On the basis of end-use the market is segmented as commercial and individual. The market on the basis of streaming type, market is classified as live streaming and on-demand streaming. On the basis of revenue model, the market is segment as free & add supported and subscription based.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global music streaming market based on various segments. It also provides market size and forecast estimates from year 2017 to 2027 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The music streaming market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting music streaming market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South & Central America after evaluating political, economic, social and technological factors effecting the music streaming market in these regions.
The reports cover key developments in the music streaming market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market payers from music streaming market are anticipated to lucrative growth opportunities in the future with the rising demand for music streaming in the global market. Below mentioned is the list of few companies engaged in the music streaming market.
The report also includes the profiles of key music streaming companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.
- Apple Inc.
- iHeartMedia, Inc.
- Pandora Media, Inc.
Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.