Global Music on Demand Market 2023-2027

Global Music on Demand Market 2023-2027

Technavio has been monitoring the music on demand market and is forecast to grow by USD 38775.66 mn during 2022-2027, accelerating at a CAGR of 13.41% during the forecast period. Our report on the music on demand market provides a holistic analysis, market size, and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by growth in mobile advertisement spending, the surge in subscription-based services, and bundled services provided by market players.

Technavio's music on demand market is segmented as below:

By TypeMusic streamingRadio on demandBy End-userIndividual usersCommercial usersBy GeographyNorth AmericaEuropeAPACSouth AmericaMiddle East and AfricaThis study identifies the increase in the adoption of cloud services as one of the prime reasons driving the music on demand market growth during the next few years. Also, the growing use of wearable technology and the emergence of multi-room streaming will lead to sizable demand in the market.

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our report on the music on demand market covers the following areas:Music on demand market sizingMusic on demand market forecastMusic on demand market industry analysisTechnavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading music on demand market vendors that include Alphabet Inc., Amazon.com Inc., Apple Inc., Aspiro AB, Auracle Sound Ltd., Bennett Coleman and Co. Ltd., Bharti Enterprises Ltd., Canadian Broadcasting Corp., Deezer SA, Hungama Digital Media Entertainment Pvt. Ltd., iHeartMedia Inc., Mixcloud Ltd., Modern Streaming Solutions Pvt. Ltd., Mood Media Corp., Reliance Industries Ltd., Rhapsody International Inc., SoundCloud Global Ltd. and Co. KG, Spotify Technology SA, Tencent Holdings Ltd., and Viant Technology LLC. Also, the music on demand market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources through an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.