Market Overview:
The global music streaming service market is expected to grow at a CAGR of 10.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for music streaming services across the globe, owing to their growing popularity among users. In addition, the increasing penetration of smartphones and other connected devices is also contributing significantly to the growth of this market. Based on type, the global music streaming service market can be segmented into software and hardware. The software segment is expected to account for a larger share of this market than the hardware segment during the forecast period. This can be attributed primarily to factors such as ease of use and growing demand for cloud-based solutions. Based on application,the global music streaming service market can be divided into personal and commercial segments.
Product Definition:
A music streaming service is a type of subscription service that allows users to listen to a library of music on-demand. Some services allow users to download songs for offline playback, while others do not. Music streaming services are often used to listen to music online, but some also offer apps for mobile devices and smart TVs.
Software:
Software is the core of any music streaming service. It helps in organizing and classifying tracks for listeners based on various parameters such as genre, release date, popularity, etc. The more popular a track is the more likely it will be added to a user’s library. Also, by using software services providers can ensure that their advertisements play before relevant tracks which results in higher revenue generation from adsense or other ad networks.
Hardware:
Hardware is the part of service that helps to deliver audio, video and other media content over internet. It's used by music streaming services providers for delivering high quality audio and video content to users. The hardware used can vary as per the requirement of service provider but it includes various devices like servers, set-top boxes, smartphones etc.
Application Insights:
The commercial application segment accounted for the largest revenue share of over 70% in 2017. The growth is attributed to the increasing number of live events being held by various music artists and bands. For instance, U2 has been hosting its live shows on YouTube and Spotify since 2010. Similarly, Coldplay has been streaming videos of its concerts on YouTube since 2009 while Beyonce¢â‚¬â„¢s latest album was released only on iTunes, Google Play Music & Apple TV which indicates a shift in trend towards commercialization.
Commercial applications are also gaining popularity among non-artistes as well; companies or brands are using this opportunity to promote their products or services through music videos or ads without investing huge amounts like other artistes do for their tours and shows promotionally speaking.
Regional Analysis:
North America dominated the global market in 2017. The growth of this region can be attributed to the presence of a large number of prominent players such as Apple Inc.; Google LLC; and Microsoft Corporation. These companies are continuously investing in R&D to develop advanced music streaming services that would cater to the growing demand from their users across North America. Moreover, these companies are also acquiring new segments of the industry through strategic partnerships and acquisitions, which is further expected to fuel regional growth over the forecast period. For instance, in 2015, Apple Inc., acquired Beats Music LLC., and its subsidiary Beats Radio for USD three billion (USD X/€2,400).
Growth Factors:
- Increasing penetration of smartphones and broadband internet connections
- Rising demand for on-demand music streaming services
- Proliferation of digital audio players and smart speakers
- Growing popularity of online radio stations
- Emergence of new music streaming platforms
Scope Of The Report
Report Attributes
Report Details
Report Title
Music Streaming Service Market Research Report
By Type
Software, Hardware
By Application
Personal, Commercial
By Companies
Spotify, Jamendo, Heartbeats International, SOUNDMACHINE, Pandora (Mood), Rockbot, Apple, Amazon, Google, Microsoft, Jukeboxy, Cloud Cover Music, Custom Channels, Auracle Sound, Brandtrack, Kasimu, Soundreef, Express Melody, Qsic, StrorePlay, Legis Music
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
186
Number of Tables & Figures
131
Customization Available
Yes, the report can be customized as per your need.
Global Music Streaming Service Market Report Segments:
The global Music Streaming Service market is segmented on the basis of:
Types
Software, Hardware
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
Personal, Commercial
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:
- Spotify
- Jamendo
- Heartbeats International
- SOUNDMACHINE
- Pandora (Mood)
- Rockbot
- Apple
- Amazon
- Google
- Microsoft
- Jukeboxy
- Cloud Cover Music
- Custom Channels
- Auracle Sound
- Brandtrack
- Kasimu
- Soundreef
- Express Melody
- Qsic
- StrorePlay
- Legis Music
Highlights of The Music Streaming Service 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:
- Software
- Hardware
- By Application:
- Personal
- Commercial
- 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 Music Streaming Service 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
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- Product & Brand Management
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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?
A music streaming service is a digital platform that allows users to listen to music online. The platforms typically offer a library of songs, as well as the ability to listen ad-free and with exclusive content. Some services also offer live radio stations, along with curated playlists and recommendations from friends.
Some of the key players operating in the music streaming service market are Spotify, Jamendo, Heartbeats International, SOUNDMACHINE, Pandora (Mood), Rockbot, Apple, Amazon, Google, Microsoft, Jukeboxy, Cloud Cover Music, Custom Channels, Auracle Sound, Brandtrack, Kasimu, Soundreef, Express Melody, Qsic, StrorePlay, Legis Music.
The music streaming service market is expected to register a CAGR of 10.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Music Streaming Service 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 Music Streaming Service Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Music Streaming Service 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 Music Streaming Service 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 Music Streaming Service Market Size & Forecast, 2018-2028
4.5.1 Music Streaming Service Market Size and Y-o-Y Growth
4.5.2 Music Streaming Service Market Absolute $ Opportunity
Chapter 5 Global Music Streaming Service 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 Music Streaming Service Market Size Forecast by Type
5.2.1 Software
5.2.2 Hardware
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Music Streaming Service 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 Music Streaming Service Market Size Forecast by Applications
6.2.1 Personal
6.2.2 Commercial
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Music Streaming Service 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 Music Streaming Service 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 Music Streaming Service Analysis and Forecast
9.1 Introduction
9.2 North America Music Streaming Service 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 Music Streaming Service Market Size Forecast by Type
9.6.1 Software
9.6.2 Hardware
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 Music Streaming Service Market Size Forecast by Applications
9.10.1 Personal
9.10.2 Commercial
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 Music Streaming Service Analysis and Forecast
10.1 Introduction
10.2 Europe Music Streaming Service 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 Music Streaming Service Market Size Forecast by Type
10.6.1 Software
10.6.2 Hardware
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 Music Streaming Service Market Size Forecast by Applications
10.10.1 Personal
10.10.2 Commercial
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 Music Streaming Service Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Music Streaming Service 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 Music Streaming Service Market Size Forecast by Type
11.6.1 Software
11.6.2 Hardware
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 Music Streaming Service Market Size Forecast by Applications
11.10.1 Personal
11.10.2 Commercial
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 Music Streaming Service Analysis and Forecast
12.1 Introduction
12.2 Latin America Music Streaming Service 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 Music Streaming Service Market Size Forecast by Type
12.6.1 Software
12.6.2 Hardware
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 Music Streaming Service Market Size Forecast by Applications
12.10.1 Personal
12.10.2 Commercial
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) Music Streaming Service Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Music Streaming Service 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) Music Streaming Service Market Size Forecast by Type
13.6.1 Software
13.6.2 Hardware
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) Music Streaming Service Market Size Forecast by Applications
13.10.1 Personal
13.10.2 Commercial
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 Music Streaming Service Market: Competitive Dashboard
14.2 Global Music Streaming Service Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Spotify
14.3.2 Jamendo
14.3.3 Heartbeats International
14.3.4 SOUNDMACHINE
14.3.5 Pandora (Mood)
14.3.6 Rockbot
14.3.7 Apple
14.3.8 Amazon
14.3.9 Google
14.3.10 Microsoft
14.3.11 Jukeboxy
14.3.12 Cloud Cover Music
14.3.13 Custom Channels
14.3.14 Auracle Sound
14.3.15 Brandtrack
14.3.16 Kasimu
14.3.17 Soundreef
14.3.18 Express Melody
14.3.19 Qsic
14.3.20 StrorePlay
14.3.21 Legis Music
