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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Music Streaming Market Competitive Landscape
Market players are adopting 5G connectivity to provide high-quality music streams and integrating AI and ML technologies to improve music recommendations to drive user engagement
Amazon.com, Inc., founded in 1994 and headquartered in Washington, United States, is a multinational technology company known for its e-commerce platform, cloud computing services, and digital content offerings. In the music streaming market, it offers Amazon Music, a service that provides on-demand access to a vast library of songs and albums.
Anghami was founded in 2012 and is headquartered in Dubai, United Arab Emirates. As per the music streaming market report, the company offers users access to a wide range of music content tailored to the preferences of listeners in the Middle East. It has also collaborated with Amazon to offer an Alexa Skill, allowing users to control music playback using voice commands.
Spotify AB, founded in 2006 and headquartered in Stockholm, Sweden, offers on-demand access to a vast library of songs, albums, and playlists. Spotify has also expanded into podcast streaming, providing users with a diverse range of audio content.
Google LLC, founded in 1998 and headquartered in California, United States, is a multinational technology company known for its search engine, online advertising, and cloud computing services. It also operates YouTube Music, a service founded in 2015 to provide on-demand access to music videos and songs.
Other key players in the global music streaming market include TIDAL Music AS, Deezer, iHeartMedia, Inc., LiveXLive, Corp., Apple Inc., and SoundCloud Global Limited & Co. KG, among others.
Music Streaming Market Report Snapshots
Music Streaming Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the music streaming market reached an approximate value of USD 37.1 billion.
The market is expected to grow at a CAGR of 14.5% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to USD 125.3 billion by 2032.
The major drivers of the market include increasing adoption of smartphones, increasing mobile internet access, and wide availability of content.
Key trends aiding market expansion include the rise of smart speakers and voice assistants like Alexa and Siri, partnerships between streaming platforms and telcos that bundle music subscriptions, and rising popularity of virtual reality, augmented reality, and hologram shows in live streaming music videos.
Regionally, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The leading music streaming services are Spotify, Apple Music, Amazon Music, YouTube Music, and SoundCloud.
The top reasons are to avoid ads, access large music libraries, and have a wide choice of music.
Revenue models include subscription and non-subscription.
The market can be segmented by service into on-demand streaming and live streaming.
Content types are divided into audio and video.
Key players in this market include Amazon.com, Inc., Anghami, Spotify AB, Google LLC (YouTube Music), TIDAL Music AS, Deezer, iHeartMedia, Inc., LiveXLive, Corp., Apple Inc., and SoundCloud Global Limited & Co. KG, among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124