The global digital music content market is forecast to grow at a CAGR of 8.73% during the period 2016-2020.
Commenting on the report, an analyst from the research team said: Wearable technology is an emerging trend in the global music streaming market. Smartphone manufacturers are investing heavily in wearable devices to give the users an overall experience.
For instance, the Apple Watch, along with displaying time, helps users track health, access maps, Wi-Fi, Bluetooth, music, and sync with their iPhone. Another example is Rusty's wired series, which is a hoody with earphones that double as the elastic strings of the hood. It reduces the hassle of wearing headphones while listening to music.
According to the report, music artists have become a vital part of the social networking websites. Recording companies facilitate this by helping artists create the content to increase their fan base. In April 2016, seven of the top 10 most followed people on Twitter, seven of the top 20 most liked people on Facebook, and five of the top 10 most followed people on Instagram were music artists.
The industry is also helping in driving the revenue generated by these social networking sites. For example, Twitter's market capitalization in February 2016 hit $12.3 billion while Instagram, owned by Facebook, generated revenues of $35 billion. The music market is one of the major drivers for the growing popularity of YouTube.
- What will the market size be in 2020 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
- Pandora Media
- Hungama MyPlay
- Line Music
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Industry Overview
PART 06: Market landscape
PART 07: Market segmentation by type
PART 08: Market segmentation by age group
PART 09: Geographical segmentation
PART 10: Key leading countries
PART 11: Buying criteria
PART 12: Market drivers
PART 13: Impact of drivers
PART 14: Market challenges
PART 15: Impact of drivers and challenges
PART 16: Market trends
PART 17: Vendor landscape
PART 18: Appendix
PART 19: About the Author
For more information about this report visit http://www.researchandmarkets.com/research/clddlx/global_digital
Related Topics: Music, Content Management
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