Market Overview

Global Music Streaming Service Market 2018-2022 to Post a CAGR of 17% Over the Next Five Years | Technavio

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The global music streaming service market is expected to post a CAGR of
close to 17% during the period 2018-2022, according to the latest market
research report by Technavio.
However, the growth momentum of the market is expected to slow down due
to a decline in the year-over-year growth.

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Technavio has published a new market research report on the global music streaming service market fr ...

Technavio has published a new market research report on the global music streaming service market from 2018-2022. (Graphic: Business Wire)

A key factor driving the growth of the market is the growing preference
for music streaming services. The developments in wired and wireless
technologies and telecommunication standards, such as 3G, 4G, and 5G,
have resulted in an improvement of the internet bandwidth demand. This
is increasing the adoption of music streaming services across the world.
Music streaming services help in preventing the illegal downloading and
sharing of music. They also increase consumer convenience by providing
access to music on demand. Many music streaming applications provide
social media integration, which allows consumers to personalize
preferences and content. The growing internet penetration, adoption of
push strategies by market players, and better subscription services will
further encourage consumers to adopt music streaming subscription
services.

This market research report on the global
music streaming service market 2018-2022
also provides an
analysis of the most important trends expected to impact the market
outlook during the forecast period. Technavio classifies an emerging
trend as a major factor that has the potential to significantly impact
the market and contribute to its growth or decline.

This report is available at a USD 1,000 discount for a limited time
only:
View
market snapshot before purchasing

In this report, Technavio highlights wearables with music streaming as
one of the key emerging trends in the global music streaming service
market:

Global music streaming service market:
Wearables with music streaming

Wearable technology is a rapidly growing market in the consumer
electronic segment. Currently, consumers are increasingly adopting
smartwatches, as smart watches replicate the smartphone experience by
acting as a schedule manager and notification hub. Several manufacturers
are now focusing on integrating music playback options in their devices.
Moreover, further advances in smartwatch technology and wireless
connectivity are expected to allow direct music streaming services to be
compatible with these devices. Thus, with the introduction of such
advanced features, the global music streaming services market is
predicted to show a positive outlook during the forecast period.

"Consumers are increasingly adopting subscription services for
streaming digital music. the main reason for this is the free
subscription services offered by most of the market players. Vendors are
also seen adopting push strategies by focusing on the freemium business
model that aims at migrating free users to premium services while
ensuring sustainability. Free users usually migrate to gain access to
unlimited and uninterrupted content. This leads to an increase in the
adoption of subscription services,"
says a senior analyst at
Technavio for research on media and entertainment services.

Global music streaming service market:
Segmentation analysis

This market research report segments the global music streaming service
market by end-user (individual user and commercial user) and
geographical regions (APAC, EMEA, and the Americas).

The Americas led the market in 2017 with a market share of more than
60%, followed by EMEA and APAC respectively. However, during the
forecast period, the APAC region is expected to show the highest
incremental growth of close to 11%. The other two regions are expected
to witness a decline in their market share.

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Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market sizing
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

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