Market Overview:
The global digital music market is expected to grow at a CAGR of 7.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing penetration of smartphones and other connected devices, growing demand for on-demand music streaming services, and rising trend of online piracy. In terms of type, the permanent downloads segment is expected to hold the largest share in the global digital music market during the forecast period. This can be attributed to factors such as ease of access and portability offered by permanent downloads over other types of digital music formats. In terms of application, the 18-40 years age group is expected to account for majority share in terms of revenue generated from sales and streaming services during 2018-2030.
Product Definition:
Digital Music is music that has been converted from an analog form to a digital form. It can be stored on a computer or other electronic device and played back using headphones or an audio system. Digital music files are often compressed to save space, which can affect the sound quality. The importance of digital music is that it can be easily stored and accessed by anyone with a computer or other electronic device.
Permanent Downloads:
Permanent downloads is a service model that allows the end-users to download files from digital media services provider servers and keep them for their own use. The term permanent typically means that these files cannot be removed or uninstalled in an automated fashion. However, they can be uninstalled by the user if he so desires.
Music Streaming:
The music streaming market is expected to witness significant growth over the forecast period owing to increasing adoption of smart devices coupled with growing internet penetration. The shift in consumer listening behavior from traditional media (radio, CDs, vinyls) towards digital platforms has been one of the major factors driving industry growth.
Technological advancements have led to an increase in audio quality.
Application Insights:
Below 18 years accounted for the largest share of more than 40.0% in 2017. The growth can be attributed to the easy access to digital music provided by online streaming services and download portals. Moreover, a large number of new startups have been introduced in the market with an aim to provide musical content relevant to age group targeted audiences. For instance, Gaana offers songs specifically designed for children below 12 years while Hungama Music provides Hindi language music videos and lyrics along with English translations for all songs on YouTube which is popularly known as ¢â‚¬Å“ translated song clips¢â‚¬ feature on its website www.youtube.com/user/HungamaOnline .
The 18-40 years age group is expected witness significant growth over the forecast period owing to increasing usage of online streaming services such as Spotify, Apple Music etc.
Regional Analysis:
The North American region dominated the global market in 2017. The growth can be attributed to the high concentration of digital music consumers, which is around 35% of the global population. Around 80% of all digital music sales were made in this region, with a total revenue share exceeding 50%. This can be attributed to a large number of downloads and streaming activities taking place across this region.
Asia Pacific is expected to emerge as one of the fastest-growing regions over the forecast period owing to increasing internet penetration rates and smartphone adoption across countries such as China and India. Furthermore, growing urbanization has led people from rural areas into cities where they have access to better education facilities along with increased exposure towards western culture and lifestyle resulting into higher disposable income for purchasing entertainment products including digital ones such as songs/albums/artistes etc., thereby driving growth across this regional market over the forecast period.
Growth Factors:
- Increased penetration of smartphones and other mobile devices, which are fuelling demand for digital music content.
- Proliferation of high-speed internet access, especially in developing countries, is helping to drive growth in the digital music market.
- Rising popularity of streaming services is contributing to the growth of the digital music market.
- Growing demand for personalized content is prompting consumers to shift towards on-demand streaming services instead of traditional radio stations or albums/tracks downloads.
Scope Of The Report
Report Attributes
Report Details
Report Title
Digital Music Market Research Report
By Type
Permanent Downloads, Music Streaming
By Application
Below 18 Years, 18-40 Years, 41-60 Years, Above 60 Years
By Companies
Amazon.com, Apple, CBS, Deezer, EMI Music Publishing, Fox Music Publishing, Google, Hungama Digital Media Entertainment, Microsoft, Sony, Spotify, Universal Music Group, Aspiro, Jamendo, Blinkbox Music, Gaana.com, Grooveshark, Guvera, Mixcloud, Myspace, Rara, Napster, Saavn, Tencent, Baidu, SoundCloud, Thumbplay, TuneIn Radio
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
156
Number of Tables & Figures
110
Customization Available
Yes, the report can be customized as per your need.
Global Digital Music Market Report Segments:
The global Digital Music market is segmented on the basis of:
Types
Permanent Downloads, Music Streaming
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Below 18 Years, 18-40 Years, 41-60 Years, Above 60 Years
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Amazon.com
- Apple
- CBS
- Deezer
- EMI Music Publishing
- Fox Music Publishing
- Google
- Hungama Digital Media Entertainment
- Microsoft
- Sony
- Spotify
- Universal Music Group
- Aspiro
- Jamendo
- Blinkbox Music
- Gaana.com
- Grooveshark
- Guvera
- Mixcloud
- Myspace
- Rara
- Napster
- Saavn
- Tencent
- Baidu
- SoundCloud
- Thumbplay
- TuneIn Radio
Highlights of The Digital Music Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Permanent Downloads
- Music Streaming
- By Application:
- Below 18 Years
- 18-40 Years
- 41-60 Years
- Above 60 Years
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Digital Music Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Digital music is music that is stored on a digital medium, such as an MP3 player or a computer.
Some of the key players operating in the digital music market are Amazon.com, Apple, CBS, Deezer, EMI Music Publishing, Fox Music Publishing, Google, Hungama Digital Media Entertainment, Microsoft, Sony, Spotify, Universal Music Group, Aspiro, Jamendo, Blinkbox Music, Gaana.com, Grooveshark, Guvera, Mixcloud, Myspace, Rara, Napster, Saavn, Tencent, Baidu, SoundCloud, Thumbplay, TuneIn Radio.
The digital music market is expected to grow at a compound annual growth rate of 7.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Digital Music Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Digital Music Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Digital Music Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Digital Music Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Digital Music Market Size & Forecast, 2018-2028
4.5.1 Digital Music Market Size and Y-o-Y Growth
4.5.2 Digital Music Market Absolute $ Opportunity
Chapter 5 Global Digital Music Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Digital Music Market Size Forecast by Type
5.2.1 Permanent Downloads
5.2.2 Music Streaming
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Digital Music Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Digital Music Market Size Forecast by Applications
6.2.1 Below 18 Years
6.2.2 18-40 Years
6.2.3 41-60 Years
6.2.4 Above 60 Years
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Digital Music Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Digital Music Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Digital Music Analysis and Forecast
9.1 Introduction
9.2 North America Digital Music Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Digital Music Market Size Forecast by Type
9.6.1 Permanent Downloads
9.6.2 Music Streaming
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Digital Music Market Size Forecast by Applications
9.10.1 Below 18 Years
9.10.2 18-40 Years
9.10.3 41-60 Years
9.10.4 Above 60 Years
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Digital Music Analysis and Forecast
10.1 Introduction
10.2 Europe Digital Music Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Digital Music Market Size Forecast by Type
10.6.1 Permanent Downloads
10.6.2 Music Streaming
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Digital Music Market Size Forecast by Applications
10.10.1 Below 18 Years
10.10.2 18-40 Years
10.10.3 41-60 Years
10.10.4 Above 60 Years
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Digital Music Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Digital Music Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Digital Music Market Size Forecast by Type
11.6.1 Permanent Downloads
11.6.2 Music Streaming
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Digital Music Market Size Forecast by Applications
11.10.1 Below 18 Years
11.10.2 18-40 Years
11.10.3 41-60 Years
11.10.4 Above 60 Years
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Digital Music Analysis and Forecast
12.1 Introduction
12.2 Latin America Digital Music Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Digital Music Market Size Forecast by Type
12.6.1 Permanent Downloads
12.6.2 Music Streaming
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Digital Music Market Size Forecast by Applications
12.10.1 Below 18 Years
12.10.2 18-40 Years
12.10.3 41-60 Years
12.10.4 Above 60 Years
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Digital Music Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Digital Music Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Digital Music Market Size Forecast by Type
13.6.1 Permanent Downloads
13.6.2 Music Streaming
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Digital Music Market Size Forecast by Applications
13.10.1 Below 18 Years
13.10.2 18-40 Years
13.10.3 41-60 Years
13.10.4 Above 60 Years
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Digital Music Market: Competitive Dashboard
14.2 Global Digital Music Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Amazon.com
14.3.2 Apple
14.3.3 CBS
14.3.4 Deezer
14.3.5 EMI Music Publishing
14.3.6 Fox Music Publishing
14.3.7 Google
14.3.8 Hungama Digital Media Entertainment
14.3.9 Microsoft
14.3.10 Sony
14.3.11 Spotify
14.3.12 Universal Music Group
14.3.13 Aspiro
14.3.14 Jamendo
14.3.15 Blinkbox Music
14.3.16 Gaana.com
14.3.17 Grooveshark
14.3.18 Guvera
14.3.19 Mixcloud
14.3.20 Myspace
14.3.21 Rara
14.3.22 Napster
14.3.23 Saavn
14.3.24 Tencent
14.3.25 Baidu
14.3.26 SoundCloud
14.3.27 Thumbplay
14.3.28 TuneIn Radio
