Music Streaming Market - Detailed Analysis of Current and Future Industry Figures till 2027 | Amazon, Apple, Deezer,, Google, iheartmedia, Joox, Pandora Media, SoundCloud, Spotify, Tidal

“Music Streaming Industry Report″ is a direct appreciation by The Insight Partners of the market potential. The report intends to provide accurate and meaningful insights, both quantitative as well as qualitative of Music Streaming Market.

The COVID-19 outbreak, which began in Wuhan (China) in December 2019, has spread at a fast pace worldwide. The global factory shutdowns, travel bans, and border lockdowns, to combat and contain the outbreak, have impacted every industry and economy worldwide. Music and Media industry is also impacted negatively and thus act as a restraining factor for the growth of various markets related to this industry in the coming months. One of the critical areas highly impacted is live performances. The industry is fighting back to recover the loss and come-up with new business models.

The music streaming market is growing with the rising smartphone usage, internet penetration, and growing population. The scope of the digital music streaming websites is taking over the musical scenario. Owing to the availability of cloud technology, regional music offerings, increased smartphone adoption, advanced streaming applications, and lesser cost of data are some of the major aspects transforming the entire landscape of music streaming. Spotify, Tidal, Apple Music, iHeartRadio, Deezer, Amazon Music Unlimited, and YouTube Music are some of the prominent online music streaming services prevailing in the market.

In terms of revenue, the global music streaming market was valued at US$ 26.04 billion in 2019 and is projected to reach US$ 46.99 billion by 2027 and is expected to grow at a CAGR of 7.4% during the forecast period 2020-2027.

The application of music platforms is majorly adopted within the age group of 18to 30years, as the individuals of this group are willing to invest high value on music streaming. Targeting new demo graphics would potentially raise service subscriptions and revenue of the providers.

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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 market in the global market.

Key Players Influencing the Market

• Amazon, Inc.
• Apple Inc.
• Deezer,
• Google Inc.
• iheartmedia, Inc.
• Joox
• Pandora Media, Inc.
• SoundCloud
• Spotify
• Tidal

The “Global Music Streaming Market Analysis to 2027” is a specialized and in-depth study of the technology, media and telecommunications 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 component, deployment type, industry vertical, 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.

Music streaming service providers such as Apple has witnessed increase in spending on music by the Americans. The company’s paid subscriber base is larger than Spotify's in the US. In context to music subscribers, Spotify always aims to convert free listeners into paid subscribers. The paid subscription services are capturing largest market share driven by the introduction of new services such as Apple Music and TIDAL. The concept of digitalization is accelerating the popularity of digital music websites. The large portfolio of music subscribers managed by music streaming service providers is supporting to drive the growth of entire music streaming market across the world. In January 2020, Amazon declared that their music streaming service has reached over 55 million customers worldwide. In June2019, Apple stated that the company has 60 million individuals making payments for an Apple Music subscription.

Besides this, the report analyses factors affecting Music Streaming market from both demand and supply side and further evaluates market dynamics affecting 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 considered in the Global Music Streaming Market report.

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global Music Streaming market based on the type and application. It also provides market size and forecast till 2027 for overall Music Streaming market with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America (SAM). The market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

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Answers that the report acknowledges:

• Market size and growth rate during forecast period.
• Key factors driving the Music Streaming Market.
• Key market trends cracking up the growth of the Music Streaming Market.
• Challenges to market growth.
• Key vendors of Music Streaming Market.
• Detailed SWOT analysis.
• Opportunities and threats faces by the existing vendors in Global Music Streaming Market.
• Trending factors influencing the market in the geographical regions.
• Strategic initiatives focusing the leading vendors.
• PEST analysis of the market in the five major regions.

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This release was published on openPR.