Music Streaming Market Analysis Highlights the Impact of COVID-19 (2020-2024)| High Growth in Mobile Ad Spending Market to Boost the Market Growth | Technavio
LONDON--(BUSINESS WIRE)--Sep 3, 2020--
Technavio has been monitoring the music streaming market and it is poised to grow by USD 7.47 bn during 2020-2024, progressing at a CAGR of over 19% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Technavio has announced its latest market research report titled Global Music Streaming Market 2020-2024. (Graphic: Business Wire)
Although the COVID-19 pandemic continues to transform the growth of various industries, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. Technavio’s in-depth research has all your needs covered as our research reports include all foreseeable market scenarios, including pre- & post-COVID-19 analysis. Download a Free Sample Report on COVID-19 Impacts
Frequently Asked Questions:
- What is a major trend in the market?
Rise of wearable technology is a major trend driving the market growth.
- At what rate is the market projected to grow?
The year-over-year growth for 2020 is estimated at 19.82% and the incremental growth of the market is anticipated to be $ 7.47 bn.
- Who are the top players in the market?
Alphabet Inc., Apple Inc., Comcast Corp., Deezer SA, IHEARTMEDIA, INC., Microsoft Corp., Samsung Electronics Co. Ltd., Sirius XM Holdings Inc., Sony Corp., and Spotify Technology SA., are some of the major market participants.
- What is the key market driver?
Increase in the number of subscription services is the major factor driving the market.
- How big is the APAC market?
The APAC region will contribute 54% of the market share.
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Alphabet Inc., Apple Inc., Comcast Corp., Deezer SA, IHEARTMEDIA, INC., Microsoft Corp., Samsung Electronics Co. Ltd., Sirius XM Holdings Inc., Sony Corp., and Spotify Technology SA are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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Increase in number of subscription services has been instrumental in driving the growth of the market.
Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.
Music Streaming Market 2020-2024: Segmentation
Music Streaming Market is segmented as below:
- Individual Users
- Commercial Users
- North America
- South America
To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR43324
Music Streaming Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The music streaming market report covers the following areas:
- Music Streaming Market Size
- Music Streaming Market Trends
- Music Streaming Market Industry Analysis
This study identifies the rise of wearable technology as one of the prime reasons driving the music streaming market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Music Streaming Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist music streaming market growth during the next five years
- Estimation of the music streaming market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the music streaming market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of music streaming market, vendors
Table of Contents:
- Market ecosystem
- Market characteristics
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Five Forces Summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by End-user
- Comparison by End-user
- Individual users - Market size and forecast 2019-2024
- Commercial users - Market size and forecast 2019-2024
- Market opportunity by End-user
Market Segmentation by Type
- Market segments
- Comparison by Type
- Free - Market size and forecast 2019-2024
- Paid - Market size and forecast 2019-2024
- Market opportunity by Type
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2019-2024
- APAC - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Volume driver – Demand led growth
- Market challenges
- Market trends
- Vendor landscape
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- Alphabet Inc.
- Apple Inc.
- Comcast Corp.
- Deezer SA
- Microsoft Corp.
- Samsung Electronics Co. Ltd.
- Sirius XM Holdings Inc.
- Sony Corp.
- Spotify Technology SA
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides 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 across 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.
View source version on businesswire.com:https://www.businesswire.com/news/home/20200903005060/en/
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SOURCE: Technavio Research
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