Report Overview

2023

Base Year

2018-2023

Historical Year

2024-2032

Forecast Year

Music Streaming Market Growth

Music streaming is a type of online service that allows users to listen to music instantly on their devices without having to download audio files. These services provide access to extensive libraries of songs and albums, and they often offer both free ad-supported tiers and paid subscription plans. These services allow users to discover new music based on their listening history. Users can also create, share, and collaborate on playlists with others, making it a social and interactive experience.

 

The increasing adoption of digital platforms and the widespread utilisation of smart devices has supported the music streaming market value. The rising popularity of music streaming services, offering features like personalised song recommendations, automatic playlist customisation, and seamless accessibility across various applications and web browsers, is significantly contributing to market growth. Moreover, advancements in technologies like Artificial Intelligence (AI) and Machine Learning (ML) are enhancing the streaming experience by improving search recommendations, further propelling the market forward.

 

Music Streaming Market Report Snapshots

Music Streaming Market Size

Music Streaming Market Growth

Music Streaming Market Trends

Music Streaming Market Share

Music Streaming Companies

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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