Music Streaming Market Size, Share, Growth Analysis, By Platform (App, Browser), By Service (On-Demand, Live), By Content Type (Audio, Video), By End Use (Individual, Commercial), By Region

Description

Global Music Streaming Market size was valued at USD 33.2 billion in 2022 and is poised to grow from USD 38.9 billion in 2023 to USD 115.7 billion by 2031, growing at a CAGR of 14.6% during the forecast period (2024-2031).

The market for smart devices and music streaming services is set for significant growth, fueled by the increasing adoption of digital platforms and 5G connectivity. Music streaming services are enhancing user experience by incorporating features like automatic playlist customization and expanding podcast genres. Companies such as Amazon are capitalizing on this trend with offerings like their new lossless audio HD service, while emerging technologies like hologram concerts and virtual reality are expected to revolutionize live streaming. Partnerships, such as the one between Spotify and Netflix, are also enhancing content availability. Furthermore, new licensing opportunities are emerging in the music industry as platforms seek to acquire rights to develop innovative revenue streams, reflecting a complex regulatory landscape that benefits music producers and creators.

Top-down and bottom-up approaches were used to estimate and validate the size of the Music Streaming market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Music Streaming Market Segmental Analysis

Global Music Streaming Market is segmented by Platform, Service, Content Type, End Use. Based on Platform, the market is segmented into Apps, Browsers. Based on Service, the market is segmented into On Demand, Live Streaming. Based on Content Type, the market is segmented into Audio, Video. Based on End Use, the market is segmented into Individual, Commercial. Based on Region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.

Driver of the Music Streaming Market

The music streaming market has experienced significant growth due to the rising popularity of subscription-based models. These services allow users to pay a monthly or annual fee for unlimited access to a vast array of music. Affordability and an appealing value proposition play a key role in attracting consumers, while the convenience of accessing music on various devices has further enhanced their appeal. This combination of cost-effectiveness and user-friendly access has driven more individuals to embrace subscription services, ultimately contributing to the expansion of the music streaming industry and changing the way people enjoy their favorite tunes.

Restraints in the Music Streaming Market

The music streaming market faces significant challenges due to copyright and licensing regulations. Navigating the intricate web of copyright laws and securing licensing agreements with multiple artists and record labels can be both expensive and complex. These hurdles can ultimately lead to restrictions on the range of music available in streaming catalogs and may expose platforms to legal disputes. Consequently, this creates obstacles for music streaming services as they strive to offer a diverse selection while remaining compliant with legal requirements. The complexities of these regulations can hinder the growth and accessibility of music streaming options for consumers.

Market Trends of the Music Streaming Market

The music streaming market is witnessing a significant shift towards subscription-based services, reflecting a consumer preference for premium experiences. As users increasingly choose ad-free listening, offline access, high-quality audio, and exclusive content, the demand for paid subscriptions continues to surge. This trend underscores the convenience and perceived value offered by subscription models, which enhance user engagement and satisfaction. Consequently, key players are investing in exclusive artist collaborations and personalized playlists to attract and retain subscribers, solidifying their positions in a competitive landscape. The ongoing growth in subscription adoption highlights a transformative era in how consumers engage with music, reshaping industry dynamics.

Product Code: SQMIG50H2004

Introduction

Objectives of the Study
Scope of the Report
Definitions

Research Methodology

Information Procurement
Secondary & Primary Data Methods
Market Size Estimation
Market Assumptions & Limitations

Executive Summary

Global Market Outlook
Supply & Demand Trend Analysis
Segmental Opportunity Analysis

Market Dynamics & Outlook

Market Overview
Market Size
Market Dynamics
- Driver & Opportunities
- Restraints & Challenges
Porters Analysis & Impact
- Competitive rivalry
- Threat of substitute
- Bargaining power of buyers
- Threat of new entrants
- Bargaining power of suppliers

Key Market Insights

Key Success Factors
Degree of Competition
Top Investment Pockets
Market Ecosystem
Market Attractiveness Index, 2023
PESTEL Analysis
Macro-Economic Indicators
Value Chain Analysis
Pricing Analysis
Technological Advancement
Regulatory Landscape
Case Studies
Patent Analysis
Trade Analysis

Music Streaming Market Size by Event Type & CAGR (2024-2031)

Market Overview
Internal
External
Extended

Music Streaming Market Size by Component & CAGR (2024-2031)

Market Overview
Platform
- Web based
- XR
Service
- Communication
- Recruitment
- Sales and Marketing
- Training

Music Streaming Market Size by Organization Size & CAGR (2024-2031)

Market Overview
Large Enterprise
Small and Medium Enterprises (SMEs)

Music Streaming Market Size by End User & CAGR (2024-2031)

Market Overview
Educational Institutions
Corporate
Government
Others

Music Streaming Market Size by Application & CAGR (2024-2031)

Market Overview
Conferences and Convocations
Exhibitions and Trade Shows
Seminars and Workshops
Corporate Meetings and Training

Music Streaming Market Size by Industry & CAGR (2024-2031)

Market Overview
BFSI
Electronics
Healthcare
IT
Manufacturing
Media and Entertainment
Telecom
Others

Music Streaming Market Size by Use Case & CAGR (2024-2031)

Market Overview
Every Day events
Large Scale Events

Music Streaming Market Size & CAGR (2024-2031)

North America (Event Type, Component, Organization Size, End User, Application, Industry)
- US
- Canada
Europe (Event Type, Component, Organization Size, End User, Application, Industry)
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific (Event Type, Component, Organization Size, End User, Application, Industry)
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
Latin America (Event Type, Component, Organization Size, End User, Application, Industry)
- Brazil
- Rest of Latin America
Middle East & Africa (Event Type, Component, Organization Size, End User, Application, Industry)
- GCC Countries
- South Africa
- Rest of Middle East & Africa

Competitive Intelligence

Top 5 Player Comparison
Market Positioning of Key Players, 2023
Strategies Adopted by Key Market Players
Recent Developments in the Market
Company Market Share Analysis, 2023
Company Profiles of All Key Players
- Company Details
- Product Portfolio Analysis
- Company's Segmental Share Analysis
- Revenue Y-O-Y Comparison (2021-2023)

Key Company Profiles

Adobe Systems (United States)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Cisco Systems (United States)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Zoom Video Communications, Inc. (United States)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Cvent Inc. (United States)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Microsoft Corporation (United States)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Google LLC (United States)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Hopin Inc. (United Kingdom)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
VFairs LLC (United States)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Intrado Corporation (United States)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
6Connex Inc. (United States)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
ON24 Inc. (United States)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Social27 Inc. (United States)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
vFairs (United States)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
SpotMe (France)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Bizzabo Ltd. (United States)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Whova Inc. (United States)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Airmeet Inc. (United States)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Attendify (United States)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
WorkCast Corporation (United Kingdom)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Swapcard SAS (France)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments

Music Streaming Market Size, Share, Growth Analysis, By Platform (App, Browser), By Service (On-Demand, Live), By Content Type (Audio, Video), By End Use (Individual, Commercial), By Region - Industry Forecast 2024-2031