Press release
Music Streaming Market Size, Share, Demand, Trends And Growth Report, 2033
The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033
The Business Research Company presents an extensive market research report on the Music Streaming Global Market Report 2024 , furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
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 growth in the historic period can be attributed to digital music distribution, mobile device proliferation, social media integration, global licensing agreements, offline listening features.
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%. The growth in the forecast period can be attributed to podcast integration, interactive and social features, expansion into emerging markets, global expansion and localization, social sharing and collaborative playlists. Major trends in the forecast period include high-fidelity and lossless streaming, AI-driven personalization, live audio and virtual concerts, user-generated content and remix culture, subscription bundling and partnerships.
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Key Market Players:
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
Market Drivers:
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.
Learn More About The Market Report -
https://www.thebusinessresearchcompany.com/report/music-streaming-global-market-report
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
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
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The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialise in various industries including manufacturing, healthcare, financial services, chemicals, and technology.
Global Market Model - World's Most Comprehensive Database
The Business Research Company's flagship product, Global Market Model (www.thebusinessresearchcompany.com/global-market-model) is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps
The Business Research Company presents an extensive market research report on the Music Streaming Global Market Report 2024 , furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
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 growth in the historic period can be attributed to digital music distribution, mobile device proliferation, social media integration, global licensing agreements, offline listening features.
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%. The growth in the forecast period can be attributed to podcast integration, interactive and social features, expansion into emerging markets, global expansion and localization, social sharing and collaborative playlists. Major trends in the forecast period include high-fidelity and lossless streaming, AI-driven personalization, live audio and virtual concerts, user-generated content and remix culture, subscription bundling and partnerships.
Request for free sample report -
https://www.thebusinessresearchcompany.com/sample.aspx?id=6786&type=smp
Key Market Players:
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
Market Drivers:
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.
Learn More About The Market Report -
https://www.thebusinessresearchcompany.com/report/music-streaming-global-market-report
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
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Want To Know More About The Business Research Company?
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialise in various industries including manufacturing, healthcare, financial services, chemicals, and technology.
Global Market Model - World's Most Comprehensive Database
The Business Research Company's flagship product, Global Market Model (www.thebusinessresearchcompany.com/global-market-model) is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps
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