Music - TREND MAG originally published at Music - TREND MAG
NEW YORK, July 21, 2023 /PRNewswire/ — The music on demand market size is estimated to grow at a CAGR of 13.41% between 2022 and 2027. The music on demand market size is forecast to increase by USD 38,775.66 million, according to Technavio The growing competition in the market is compelling vendors to adopt various growth strategies such as promotional activities and spending on advertisements to improve the visibility of their services. Technavio report analyzes the market’s competitive landscape and offers information on several market vendors including – Alphabet Inc., Amazon.com Inc., Apple Inc., Aspiro AB, Auracle Sound Ltd., Bennett Coleman and Co. Ltd., Bharti Enterprises Ltd., Canadian Broadcasting Corp., Deezer SA, Hungama Digital Media Entertainment Pvt. Ltd., iHeartMedia Inc., Mixcloud Ltd., Modern Streaming Solutions Pvt. Ltd., Mood Media Corp., Reliance Industries Ltd., Rhapsody International Inc., SoundCloud Global Ltd. and Co. KG, Spotify Technology SA, Tencent Holdings Ltd., and Viant Technology LLC. – View the Sample report
Music on Demand Market Insights –
- Vendors: 15+, Including Alphabet Inc., Amazon.com Inc., Apple Inc., Aspiro AB, Auracle Sound Ltd., Bennett Coleman and Co. Ltd., Bharti Enterprises Ltd., Canadian Broadcasting Corp., Deezer SA, Hungama Digital Media Entertainment Pvt. Ltd., iHeartMedia Inc., Mixcloud Ltd., Modern Streaming Solutions Pvt. Ltd., Mood Media Corp., Reliance Industries Ltd., Rhapsody International Inc., SoundCloud Global Ltd. and Co. KG, Spotify Technology SA, Tencent Holdings Ltd., and Viant Technology LLC, among others
- Coverage: Parent market analysis; key drivers, major trends, and challenges; customer and vendor landscape; vendor product insights and recent developments; key vendors; and market positioning of vendors
- Segments: Type (music streaming and radio on demand), End-user (individual users and commercial users), and Geography (North America, Europe, APAC, South America, and Middle East and Africa)
To understand more about the music on demand market, request a sample report
Key Drivers
The growth in mobile advertisement spending is one of the key factors driving the market growth. Mobile advertising is considered a popular promotion method due to the widespread usage of tablets and smartphones, the expansion of the internet, and the development of numerous mobile apps. Furthermore, service providers design user-friendly mobile applications to cater to their customers’ needs. In addition, with the increasing adoption of mobile devices and subsequent growth in mobile app downloads, songs and albums are now accessible within apps for streaming and downloading. Moreover, to enhance targeted advertising, users are requested to provide their personal information, enabling vendors to retain a larger customer base. However, it is important to balance the benefits of personalized advertising with user privacy concerns, ensuring that data collection and usage are conducted ethically and transparently. Hence, these factors are expected to drive market growth during the forecast period.
Major Trends
The increase in the adoption of cloud services is a major trend in the music-on-demand market. The popularity of mobile advertising in the music industry is attributed to its ability to offer consumers legal access to online music, and it is being widely adopted by music companies because of its enhanced portability. In addition, subscribers can conveniently access digital content stored on remote servers. Major companies such as Apple, Google, and Amazon place significant emphasis on cloud services, utilizing them as remote lockers to store and manage downloaded music tracks for their users. Numerous vendors in the market are now focusing on integrating lyrics and sing-along features into audio files, providing a unique selling proposition (USP) and setting themselves apart from other competitors. Therefore, this trend among vendors is expected to drive market growth during the forecast period.
Significant Challenges
Free music access to users through modified apps will be a significant challenge restricting the market growth. The modified app allows rooted Android and jailbroken iOS devices to access multiple streaming services for free, which is illegal. These cracked apps can be installed on such devices, enabling users to access paid services without making any payments. As a result, the revenue in the music on-demand market, which largely comes from paid-for services, is impacted negatively. This illegal use of cracked apps affects the sales and profit margins of music streaming service providers. Hence, these illegal apps are expected to restrict market growth during the forecast period.
The music on demand market report provides critical information and factual data, with a qualitative and quantitative study of the market based on market drivers and limitations as well as prospects.
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What are the key data covered in this Music on Demand Market report?
- CAGR of the market during the forecast period
- Detailed information on factors that will drive the growth of the music on demand market between 2023 and 2027
- Precise estimation of the size of the music on demand market and its contribution to the market with a focus on the parent market
- Accurate predictions about upcoming trends and changes in consumer behavior
- Growth of the music on demand market across North America, Europe, APAC, South America, and the Middle East and Africa
- A thorough analysis of the market’s competitive landscape and detailed information about vendors
- Comprehensive analysis of factors that will challenge the growth of music on demand market vendors
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Music on Demand Market Scope | |
Report Coverage | Details |
Base year | 2022 |
Historic period | 2017-2021 |
Forecast period | 2023-2027 |
Growth momentum & CAGR | Accelerate at a CAGR of 13.41% |
Market growth 2023-2027 | USD 38,775.66 million |
Market structure | Fragmented |
YoY growth 2022-2023 (%) | 12.43 |
Regional analysis | North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution | North America at 37% |
Key countries | US, China, Japan, UK, and Germany |
Competitive landscape | Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled | Alphabet Inc., Amazon.com Inc., Apple Inc., Aspiro AB, Auracle Sound Ltd., Bennett Coleman and Co. Ltd., Bharti Enterprises Ltd., Canadian Broadcasting Corp., Deezer SA, Hungama Digital Media Entertainment Pvt. Ltd., iHeartMedia Inc., Mixcloud Ltd., Modern Streaming Solutions Pvt. Ltd., Mood Media Corp., Reliance Industries Ltd., Rhapsody International Inc., SoundCloud Global Ltd. and Co. KG, Spotify Technology SA, Tencent Holdings Ltd., and Viant Technology LLC |
Market dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the 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. |
Table of Contents
1 Executive Summary
- 1.1 Market Overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Type
- Exhibit 06: Executive Summary – Chart on Market Segmentation by End-user
- Exhibit 07: Executive Summary – Chart on Incremental Growth
- Exhibit 08: Executive Summary – Data Table on Incremental Growth
- Exhibit 09: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 10: Parent market
- Exhibit 11: Market Characteristics
3 Market Sizing
- 3.1 Market definition
- Exhibit 12: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 13: Market segments
- 3.4 Market outlook: Forecast for 2022-2027
- Exhibit 14: Chart on Global – Market size and forecast 2022-2027 ($ million)
- Exhibit 15: Data Table on Global – Market size and forecast 2022-2027 ($ million)
- Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
- Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)
4 Historic Market Size
- 4.1 Global music on demand market 2017 – 2021
- Exhibit 18: Historic Market Size – Data Table on Global music on demand market 2017 – 2021 ($ million)
- 4.2 Type Segment Analysis 2017 – 2021
- Exhibit 19: Historic Market Size – Type Segment 2017 – 2021 ($ million)
- 4.3 End-user Segment Analysis 2017 – 2021
- Exhibit 20: Historic Market Size – End-user Segment 2017 – 2021 ($ million)
- 4.4 Geography Segment Analysis 2017 – 2021
- Exhibit 21: Historic Market Size – Geography Segment 2017 – 2021 ($ million)
- 4.5 Country Segment Analysis 2017 – 2021
- Exhibit 22: Historic Market Size – Country Segment 2017 – 2021 ($ million)
5 Five Forces Analysis
- 5.1 Five forces summary
- Exhibit 23: Five forces analysis – Comparison between 2022 and 2027
- 5.2 Bargaining power of buyers
- Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
- 5.3 Bargaining power of suppliers
- Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
- 5.4 Threat of new entrants
- Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
- 5.5 Threat of substitutes
- Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
- 5.6 Threat of rivalry
- Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
- 5.7 Market condition
- Exhibit 29: Chart on Market condition – Five forces 2022 and 2027
6 Market Segmentation by Type
- 6.1 Market segments
- Exhibit 30: Chart on Type – Market share 2022-2027 (%)
- Exhibit 31: Data Table on Type – Market share 2022-2027 (%)
- 6.2 Comparison by Type
- Exhibit 32: Chart on Comparison by Type
- Exhibit 33: Data Table on Comparison by Type
- 6.3 Music streaming – Market size and forecast 2022-2027
- Exhibit 34: Chart on Music streaming – Market size and forecast 2022-2027 ($ million)
- Exhibit 35: Data Table on Music streaming – Market size and forecast 2022-2027 ($ million)
- Exhibit 36: Chart on Music streaming – Year-over-year growth 2022-2027 (%)
- Exhibit 37: Data Table on Music streaming – Year-over-year growth 2022-2027 (%)
- 6.4 Radio on demand – Market size and forecast 2022-2027
- Exhibit 38: Chart on Radio on demand – Market size and forecast 2022-2027 ($ million)
- Exhibit 39: Data Table on Radio on demand – Market size and forecast 2022-2027 ($ million)
- Exhibit 40: Chart on Radio on demand – Year-over-year growth 2022-2027 (%)
- Exhibit 41: Data Table on Radio on demand – Year-over-year growth 2022-2027 (%)
- 6.5 Market opportunity by Type
- Exhibit 42: Market opportunity by Type ($ million)
- Exhibit 43: Data Table on Market opportunity by Type ($ million)
7 Market Segmentation by End-user
- 7.1 Market segments
- Exhibit 44: Chart on End-user – Market share 2022-2027 (%)
- Exhibit 45: Data Table on End-user – Market share 2022-2027 (%)
- 7.2 Comparison by End-user
- Exhibit 46: Chart on Comparison by End-user
- Exhibit 47: Data Table on Comparison by End-user
- 7.3 Individual users – Market size and forecast 2022-2027
- Exhibit 48: Chart on Individual users – Market size and forecast 2022-2027 ($ million)
- Exhibit 49: Data Table on Individual users – Market size and forecast 2022-2027 ($ million)
- Exhibit 50: Chart on Individual users – Year-over-year growth 2022-2027 (%)
- Exhibit 51: Data Table on Individual users – Year-over-year growth 2022-2027 (%)
- 7.4 Commercial users – Market size and forecast 2022-2027
- Exhibit 52: Chart on Commercial users – Market size and forecast 2022-2027 ($ million)
- Exhibit 53: Data Table on Commercial users – Market size and forecast 2022-2027 ($ million)
- Exhibit 54: Chart on Commercial users – Year-over-year growth 2022-2027 (%)
- Exhibit 55: Data Table on Commercial users – Year-over-year growth 2022-2027 (%)
- 7.5 Market opportunity by End-user
- Exhibit 56: Market opportunity by End-user ($ million)
- Exhibit 57: Data Table on Market opportunity by End-user ($ million)
8 Customer Landscape
- 8.1 Customer landscape overview
- Exhibit 58: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
9 Geographic Landscape
- 9.1 Geographic segmentation
- Exhibit 59: Chart on Market share by geography 2022-2027 (%)
- Exhibit 60: Data Table on Market share by geography 2022-2027 (%)
- 9.2 Geographic comparison
- Exhibit 61: Chart on Geographic comparison
- Exhibit 62: Data Table on Geographic comparison
- 9.3 North America – Market size and forecast 2022-2027
- Exhibit 63: Chart on North America – Market size and forecast 2022-2027 ($ million)
- Exhibit 64: Data Table on North America – Market size and forecast 2022-2027 ($ million)
- Exhibit 65: Chart on North America – Year-over-year growth 2022-2027 (%)
- Exhibit 66: Data Table on North America – Year-over-year growth 2022-2027 (%)
- 9.4 Europe – Market size and forecast 2022-2027
- Exhibit 67: Chart on Europe – Market size and forecast 2022-2027 ($ million)
- Exhibit 68: Data Table on Europe – Market size and forecast 2022-2027 ($ million)
- Exhibit 69: Chart on Europe – Year-over-year growth 2022-2027 (%)
- Exhibit 70: Data Table on Europe – Year-over-year growth 2022-2027 (%)
- 9.5 APAC – Market size and forecast 2022-2027
- Exhibit 71: Chart on APAC – Market size and forecast 2022-2027 ($ million)
- Exhibit 72: Data Table on APAC – Market size and forecast 2022-2027 ($ million)
- Exhibit 73: Chart on APAC – Year-over-year growth 2022-2027 (%)
- Exhibit 74: Data Table on APAC – Year-over-year growth 2022-2027 (%)
- 9.6 South America – Market size and forecast 2022-2027
- Exhibit 75: Chart on South America – Market size and forecast 2022-2027 ($ million)
- Exhibit 76: Data Table on South America – Market size and forecast 2022-2027 ($ million)
- Exhibit 77: Chart on South America – Year-over-year growth 2022-2027 (%)
- Exhibit 78: Data Table on South America – Year-over-year growth 2022-2027 (%)
- 9.7 Middle East and Africa – Market size and forecast 2022-2027
- Exhibit 79: Chart on Middle East and Africa – Market size and forecast 2022-2027 ($ million)
- Exhibit 80: Data Table on Middle East and Africa – Market size and forecast 2022-2027 ($ million)
- Exhibit 81: Chart on Middle East and Africa – Year-over-year growth 2022-2027 (%)
- Exhibit 82: Data Table on Middle East and Africa – Year-over-year growth 2022-2027 (%)
- 9.8 US – Market size and forecast 2022-2027
- Exhibit 83: Chart on US – Market size and forecast 2022-2027 ($ million)
- Exhibit 84: Data Table on US – Market size and forecast 2022-2027 ($ million)
- Exhibit 85: Chart on US – Year-over-year growth 2022-2027 (%)
- Exhibit 86: Data Table on US – Year-over-year growth 2022-2027 (%)
- 9.9 China – Market size and forecast 2022-2027
- Exhibit 87: Chart on China – Market size and forecast 2022-2027 ($ million)
- Exhibit 88: Data Table on China – Market size and forecast 2022-2027 ($ million)
- Exhibit 89: Chart on China – Year-over-year growth 2022-2027 (%)
- Exhibit 90: Data Table on China – Year-over-year growth 2022-2027 (%)
- 9.10 UK – Market size and forecast 2022-2027
- Exhibit 91: Chart on UK – Market size and forecast 2022-2027 ($ million)
- Exhibit 92: Data Table on UK – Market size and forecast 2022-2027 ($ million)
- Exhibit 93: Chart on UK – Year-over-year growth 2022-2027 (%)
- Exhibit 94: Data Table on UK – Year-over-year growth 2022-2027 (%)
- 9.11 Germany – Market size and forecast 2022-2027
- Exhibit 95: Chart on Germany – Market size and forecast 2022-2027 ($ million)
- Exhibit 96: Data Table on Germany – Market size and forecast 2022-2027 ($ million)
- Exhibit 97: Chart on Germany – Year-over-year growth 2022-2027 (%)
- Exhibit 98: Data Table on Germany – Year-over-year growth 2022-2027 (%)
- 9.12 Japan – Market size and forecast 2022-2027
- Exhibit 99: Chart on Japan – Market size and forecast 2022-2027 ($ million)
- Exhibit 100: Data Table on Japan – Market size and forecast 2022-2027 ($ million)
- Exhibit 101: Chart on Japan – Year-over-year growth 2022-2027 (%)
- Exhibit 102: Data Table on Japan – Year-over-year growth 2022-2027 (%)
- 9.13 Market opportunity by geography
- Exhibit 103: Market opportunity by geography ($ million)
- Exhibit 104: Data Tables on Market opportunity by geography ($ million)
10 Drivers, Challenges, and Trends
- 10.3 Impact of drivers and challenges
- Exhibit 105: Impact of drivers and challenges in 2022 and 2027
11 Vendor Landscape
- 11.2 Vendor landscape
- Exhibit 106: Overview on Criticality of inputs and Factors of differentiation
- 11.3 Landscape disruption
- Exhibit 107: Overview on factors of disruption
- 11.4 Industry risks
- Exhibit 108: Impact of key risks on business
12 Vendor Analysis
- 12.1 Vendors covered
- Exhibit 109: Vendors covered
- 12.2 Market positioning of vendors
- Exhibit 110: Matrix on vendor position and classification
- 12.3 Alphabet Inc.
- Exhibit 111: Alphabet Inc. – Overview
- Exhibit 112: Alphabet Inc. – Business segments
- Exhibit 113: Alphabet Inc. – Key news
- Exhibit 114: Alphabet Inc. – Key offerings
- Exhibit 115: Alphabet Inc. – Segment focus
- 12.4 Amazon.com Inc.
- Exhibit 116: Amazon.com Inc. – Overview
- Exhibit 117: Amazon.com Inc. – Business segments
- Exhibit 118: Amazon.com Inc. – Key news
- Exhibit 119: Amazon.com Inc. – Key offerings
- Exhibit 120: Amazon.com Inc. – Segment focus
- 12.5 Apple Inc.
- Exhibit 121: Apple Inc. – Overview
- Exhibit 122: Apple Inc. – Business segments
- Exhibit 123: Apple Inc. – Key news
- Exhibit 124: Apple Inc. – Key offerings
- Exhibit 125: Apple Inc. – Segment focus
- 12.6 Auracle Sound Ltd.
- Exhibit 126: Auracle Sound Ltd. – Overview
- Exhibit 127: Auracle Sound Ltd. – Product / Service
- Exhibit 128: Auracle Sound Ltd. – Key offerings
- 12.7 Bennett Coleman and Co. Ltd.
- Exhibit 129: Bennett Coleman and Co. Ltd. – Overview
- Exhibit 130: Bennett Coleman and Co. Ltd. – Key offerings
- 12.8 Bharti Enterprises Ltd.
- Exhibit 131: Bharti Enterprises Ltd. – Overview
- Exhibit 132: Bharti Enterprises Ltd. – Key offerings
- 12.9 Canadian Broadcasting Corp.
- Exhibit 133: Canadian Broadcasting Corp. – Overview
- Exhibit 134: Canadian Broadcasting Corp. – Product / Service
- Exhibit 135: Canadian Broadcasting Corp. – Key offerings
- 12.10 Deezer SA
- Exhibit 136: Deezer SA – Overview
- Exhibit 137: Deezer SA – Product / Service
- Exhibit 138: Deezer SA – Key news
- Exhibit 139: Deezer SA – Key offerings
- 12.11 Hungama Digital Media Entertainment Pvt. Ltd.
- Exhibit 140: Hungama Digital Media Entertainment Pvt. Ltd. – Overview
- Exhibit 141: Hungama Digital Media Entertainment Pvt. Ltd. – Product / Service
- Exhibit 142: Hungama Digital Media Entertainment Pvt. Ltd. – Key offerings
- 12.12 iHeartMedia Inc.
- Exhibit 143: iHeartMedia Inc. – Overview
- Exhibit 144: iHeartMedia Inc. – Business segments
- Exhibit 145: iHeartMedia Inc. – Key offerings
- Exhibit 146: iHeartMedia Inc. – Segment focus
- 12.13 Mixcloud Ltd.
- Exhibit 147: Mixcloud Ltd. – Overview
- Exhibit 148: Mixcloud Ltd. – Product / Service
- Exhibit 149: Mixcloud Ltd. – Key offerings
- 12.14 Mood Media Corp.
- Exhibit 150: Mood Media Corp. – Overview
- Exhibit 151: Mood Media Corp. – Product / Service
- Exhibit 152: Mood Media Corp. – Key offerings
- 12.15 Reliance Industries Ltd.
- Exhibit 153: Reliance Industries Ltd. – Overview
- Exhibit 154: Reliance Industries Ltd. – Business segments
- Exhibit 155: Reliance Industries Ltd. – Key news
- Exhibit 156: Reliance Industries Ltd. – Key offerings
- Exhibit 157: Reliance Industries Ltd. – Segment focus
- 12.16 SoundCloud Global Ltd. and Co. KG
- Exhibit 158: SoundCloud Global Ltd. and Co. KG – Overview
- Exhibit 159: SoundCloud Global Ltd. and Co. KG – Product / Service
- Exhibit 160: SoundCloud Global Ltd. and Co. KG – Key offerings
- 12.17 Spotify Technology SA
- Exhibit 161: Spotify Technology SA – Overview
- Exhibit 162: Spotify Technology SA – Business segments
- Exhibit 163: Spotify Technology SA – Key offerings
- Exhibit 164: Spotify Technology SA – Segment focus
13 Appendix
- 13.2 Inclusions and exclusions checklist
- Exhibit 165: Inclusions checklist
- Exhibit 166: Exclusions checklist
- 13.3 Currency conversion rates for US$
- Exhibit 167: Currency conversion rates for US$
- 13.4 Research methodology
- Exhibit 168: Research methodology
- Exhibit 169: Validation techniques employed for market sizing
- Exhibit 170: Information sources
- 13.5 List of abbreviations
- Exhibit 171: List of abbreviations
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com
SOURCE Technavio
Originally published at https://www.prnewswire.com/news-releases/music-on-demand-market-to-grow-at-a-cagr-of-13-41-from-2022-to-2027alphabet-inc-amazoncom-inc-apple-inc-and-more-to-emerge-as-key-players–technavio-301882395.html
Some images courtesy of https://pixabay.com
The post Music on Demand Market to grow at a CAGR of 13.41% from 2022 to 2027|Alphabet Inc., Amazon.com Inc., Apple Inc., and more to emerge as key players- Technavio first appeared on TREND MAG.
Music - TREND MAG originally published at Music - TREND MAG
