Monday, 19 August 2019 01:41 GMT

Global Music Streaming Market Is Expected to Grow at a CAGR of 17.9% By 2027, With A Significant Demand Fueled by Growing Adoption of On-Demand Music by Young Music Enthusiasts: Says Absolute Markets Insights

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PUNE, India, Feb. 07, 2019 (GLOBE NEWSWIRE) -- Personalization is a pivotal element of music streaming services. The market delivers, manages and tracks the distribution of music on a global scale. Ease of accessibility helps in creating music hits around the world and has driven artist development across the territories. Further, affluent availability of rare and dormant music as and when demanded is acting as a catalyst for the growth of music streaming market. During the next six years, the demand for music streaming would increase at a CAGR of around 17.9%, thereby, positively impacting the demand for music streaming. Advanced technology on the back-end is enhancing consumer experience and is significantly driving the industry. Evolution of voice recognition technologies is making music streaming a mass market proposition.

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Music Streaming Services: A Technological Push to Music Industry

  • Increasing penetration of smartphone and availability of internet has created a buzz for music streaming
  • Amalgamation of virtual reality with music streaming has enriched the experience of the listeners
  • Incorporating audio recognition in smart wearable devices is revolutionizing the industry.
  • 'During the next six years, more than three fourths of the revenue for the music industry will be generated by music streaming. The subscription and ad supported segment is expected to register high CAGR in the global music streaming market. U.S. is the highest contributor to the global music streaming market. Furthermore, Asia Pacific will witness the fastest growth in the music streaming market in the forecast period. The rising preference of on-demand streaming over radio in the U.S. is contributing to its high share in the global market.'

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    The detailed research study provides qualitative and quantitative analysis of the global music streaming market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further, across all the major countries. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East, Africa, and Latin America.

    Some of the major players operating in the global music streaming market are Pandora Media Inc., Project Panther Bidco Ltd., Spotify AB, Stingray Digital Group Inc., NetEase, Inc., Reliance Industries Limited, Gamma Gaana Limited, iHeartMedia, Inc., TuneIn, Inc. Apple Inc.,, Inc., Deezer, Inmusik, Jango, Slacker Radio, Inc., SoundCloud, Univision Communications Inc., VK, Google LLC, You42, Inc. amongst others.

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    By Type

  • Live Streaming
  • On-Demand Streaming
  • By Content Type

  • Audio Streaming
  • Video Streaming
  • By Payment Mode

  • Free
  • Subscription and Ad Supported
  • By Platform

  • Desktop
  • Smartphone
  • By Age Group

  • 16 Years -24 Years
  • 25 Years -34 Years
  • 35 Years -44 Years
  • 45 years -54 years
  • Above 55 years
  • By End User

  • Individual
  • Commercial
  • By Geography

  • North America
  • U.S.
  • Rest of North America
  • Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
  • Asia Pacific
  • China
  • Japan
  • India
  • Southeast Asia
  • Rest of Asia Pacific
  • Middle East and Africa
  • GCC Countries
  • Southern Africa
  • Rest of Middle East and Africa
  • Latin America
  • Brazil
  • Rest of Latin America
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    Global Music Streaming Market Is Expected to Grow at a CAGR of 17.9% By 2027, With A Significant Demand Fueled by Growing Adoption of On-Demand Music by Young Music Enthusiasts: Says Absolute Markets Insights

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