Online Music Streaming Market Forecast 2022-2027 | Industry Size, Share & Growth

Byimarcsuraj

 

The latest research study “Online Music Streaming Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global online music streaming market size reached US$ 16.11 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 29.66 Billion by 2027 exhibiting a CAGR of 9.60% during 2022-2027.

Covid-19 Impact:

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

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Industry Definition and Application:

Utilizing an internet connection, online music streaming software enables users to listen to songs in real-time. They provide an on-demand service where audio media files are delivered to tablets, TVs, cellphones, and PCs in pre-arranged sequential data packets without being saved to the hard drive. Online music streaming is possible through apps or browsers, and it offers both audio and video content. Additionally, a number of businesses are releasing smart devices, like Google Cast and Amazon Alexa, to stream music online with hands-free control and instant playback features.

Online Music Streaming Market Trends and Drivers: 

One of the main drivers of the online music streaming market is the increasing dependence on smartphones, as well as the increasing use of the internet and the expanding media and entertainment sector. In addition, the market is growing due to the ease of access to a variety of songs on various devices and the developing trend of on-demand music.

The combination of social media platforms and online music streaming, which enables users to make and share collaborative playlists with friends and gives up-and-coming musicians a platform to advertise and upload their music and reach a larger audience, is further boosting the global industry. Another important element driving growth is the rising demand for intelligent gadgets, which is being driven by rising urbanisation, rising disposable incomes, and the development of smart homes.

Additionally, it is anticipated that the introduction of cutting-edge apps by digital service providers (DSPs) with a user-friendly interface and a sizable library of songs and podcasts will support the online music industry. Attractive premium plans, such as family packs or free subscriptions for a few months, are also expected to gain popularity.

Report Segmentation:

The report has been segmented the market into following categories:

Breakup by Service:

  • On-demand Streaming
    • Live Streaming
       

Breakup by Revenue Model:

  • Subscription
    • Non-subscription 

Market Breakup by Platform:

  • App
    • Browser 

Breakup by Content Type:

  • Audio
    • Video 

Breakup by End User:

  • Individual
    • Commercial

 By Geography:

  • North America
    • United States
    • Canada
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa

List of Major Key Players:

The major players in the market are Amazon.com Inc, ANGHAMI, Apple Inc., Gamma Gaana Ltd. (The Times Group), iHeartMedia Inc., Musixmatch, Saavn Media Pvt Ltd., SoundCloud Ltd., Spotify AB and Tencent Music Entertainment Group.

Key highlights of the Report:

  • Market Performance (2016-2021)
  • Market Outlook (2022-2027)
  • COVID-19 Impact on the Market
  • Porter’s Five Forces Analysis
  • Historical, Current and Future Market Trends
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Structure of the Market

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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