The potential growth difference for the music on-demand market between 2020 and 2025 is USD 24.98 bn. To get the exact yearly growth variance and the Y-O-Y growth rate, Talk to our analyst.
Key Market Dynamics:
- Market Driver
- Market Challenges
The growth in mobile advertisement spending and surge in subscription-based services are some of the key market drivers. However, factors such as free music access to users through modified apps will challenge market growth.
To learn about additional key drivers, trends, and challenges available with Technavio. Read our FREE Sample Report right now!
The music on demand market report is segmented by end-user (individual users and commercial users), type (music streaming and radio on demand), and geography (North America, Europe, APAC, South America, and MEA).
Based on end-user, the individual users segment will have significant market share growth during the forecast period. The individual users segment is expected to dominate the music on-demand market owing to developments in network infrastructure. Such developments are reducing the cost of Internet services, which eases access to music streaming services on mobile devices. Telecommunication standards such as 3G, 4G, and 5G enable users to access high-quality music.
Based on type, the paid music streaming service is expected to have high growth in revenue growth during the forecast period. Premium services offer numerous features, including no interruption by advertisements, new song suggestions, access to a wide catalog of songs, playlist customization, and third-party integration such as Amazon's Alexa.
By geography, North America will be the leading region with 40% of the market's growth during the forecast period. The US is the key market for music on-demand in North America. Market growth in this region will be faster than the growth of the market in MEA and South America. The presence of numerous artists and music publishers, as well as well-developed network infrastructure, will drive the demand for music on-demand in North America during the forecast period.
View our sample report for additional insights into the contribution of all the segments and regional opportunities in the report.
Some Companies Mentioned with their Offerings
- Alphabet Inc. - The company offers on-demand music through its subsidiary YouTube Music.
- Amazon.com Inc. - The company offers on-demand music through its brand Amazon Prime Music.
- Apple Inc. - The company offers on-demand music through its brand Apple Music on a subscription basis.
- Canadian Broadcasting Corp. - The company offers on-demand music, radio through its brand CBCListen.
- Gamma Gaana Ltd. - The company offers on-demand music such as old songs, new songs, Hindi songs, and English songs.
- To gain access to more vendor profiles with their key offerings available with Technavio, Click Here
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- Over The Top Market: The over the top market has been segmented by type (video, text and images, VoIP, and music streaming) and geography (North America, Europe, APAC, South America, and MEA). Download Free Sample Report
- Digital OOH Market: The digital OOH market has been segmented by type (in-store advertising and outdoor advertising), category (billboards, shelter, transit, and street furniture), application (retail, recreation, banking, transportation, and others), and geography (APAC, North America, Europe, MEA, and South America). Download Free Sample Report
Music On-Demand Market Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 13.19% |
Market growth 2021-2025 |
USD 24.98 billion |
Market structure |
Fragmented |
YoY growth (%) |
12.05 |
Regional analysis |
North America, Europe, APAC, South America, and MEA |
Performing market contribution |
North America at 40% |
Key consumer countries |
US, China, UK, Germany, and Japan |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
Alphabet Inc., Amazon.com Inc., Apple Inc., Canadian Broadcasting Corp., Gamma Gaana Ltd., Hungama Digital Media Entertainment Pvt. Ltd., iHeartMedia Inc., Mood Media Corp., SoundCloud Ltd., and Spotify Technology SA |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Key Topics Covered:
- Executive Summary
- Market Landscape
- Market Sizing
- Five Forces Analysis
- Market Segmentation
- Customer landscape
- Geographic Landscape
- Vendor Landscape
- Vendor Analysis
- Appendix
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Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email:[email protected]
Website: www.technavio.com/
SOURCE Technavio
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