Global Music Streaming Market 2023-2027

Global Music Streaming Market 2023-2027

Technavio has been monitoring the music streaming market and is forecast to grow by USD 31101.37 mn during 2022-2027, accelerating at a CAGR of 15.67% during the forecast period. Our report on the music streaming 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 increasing preference for music streaming services, rising internet and smartphone penetration, and an increase in mobile ads driving revenue for music streaming apps.

Technavio's music streaming market is segmented as below:

By TypeFreePaidBy End-userIndividual usersCommercial usersBy GeographyNorth AmericaEuropeAPACSouth AmericaMiddle East and AfricaThis study identifies the increasing introduction of differentiated music streaming services as one of the prime reasons driving the music streaming market growth during the next few years. Also, the advent of smart speakers and the growing demand for cloud-based music streaming services will lead to sizable demand in the market.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources through an analysis of key parameters. Our report on the music streaming market covers the following areas:Music streaming market sizingMusic streaming market forecastMusic streaming 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 streaming market vendors that include Alphabet Inc., Amazon.com Inc., Apple Inc., Bharti Airtel Ltd., Curb Records Inc., Deezer SA, Gamma Gaana Ltd., iHeartMedia Inc., KKBOX, Meredith Corp., Mixcloud Ltd., RealNetworks Inc., Reliance Industries Ltd., Sirius XM Holdings Inc., SoundCloud Global Ltd. and Co. KG, SOUNDMACHINE, Soundtrack Your Brand Sweden AB, Spotify Technology SA, Tencent Holdings Ltd., and TuneIn Inc. Also, the music streaming 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 the 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.