Music And Video Market to Have Negative Impact due to COVID-19 Spread | Over $137 Billion Incremental Growth During 2020-2024 | Technavio
LONDON--(BUSINESS WIRE)--Nov 25, 2020--
Technavio has been monitoring the music and video market and it is poised to grow by USD 137.93 billion during 2020-2024, progressing at a CAGR of almost 12% 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.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201125005388/en/
Technavio has announced its latest market research report titled Global Music and Video Market 2020-2024 (Graphic: Business Wire)
Impact of COVID-19
The COVID-19 pandemic continues to transform the growth of various industries, however, 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. COVID-19 will have a low impact on the music and video market. The market growth in 2020 is likely to increase compared to the market growth in 2019.
Frequently Asked Questions:
- Based on segmentation by type, which is the leading segment in the market?
The video segment led the market in 2019.
- What are the major trends in the market?
The rising popularity of online video streaming services is one of the major trends in the market.
- At what rate is the market projected to grow?
The market is projected to grow at a CAGR of almost 12% during 2020-2024.
- Who are the top players in the market?
Alphabet Inc., Amazon.com Inc., Apple Inc., Microsoft Corp., Netflix Inc., Sirius XM Holdings Inc., Sony Corp., Spotify Technology SA, Tencent Music Entertainment Group, and The Walt Disney Co. are the top players in the market.
- What are the key market drivers and challenges?
The market is driven by the rising Internet and smartphone penetration. However, video piracy issues and illegal downloading of music tracks might hamper growth.
Related Reports onConsumer DiscretionaryInclude:
Global Live Music Market - Global live music market is segmented by revenue (tickets, sponsorship, and merchandising), genre (pop, rock, hip-hop, EDM, and others), and geography (North America, APAC, Europe, South America, and MEA). Click Here to Get an Exclusive Free Sample Report
Global Background Music Market - Global background music market is segmented by end-user (hospitality, retail, commercial buildings, public infrastructure, and others) and geography (APAC, Europe, MEA, North America, and South America). Click Here to Get an Exclusive Free Sample Report
Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free.
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Alphabet Inc., Amazon.com Inc., Apple Inc., Microsoft Corp., Netflix Inc., Sirius XM Holdings Inc., Sony Corp., Spotify Technology SA, Tencent Music Entertainment Group, and The Walt Disney Co. are some of the major market participants. Although the rising Internet and smartphone penetration will offer immense growth opportunities, video piracy issues and illegal downloading of music tracks are likely to pose a challenge for the market vendors. In a bid to help players strengthen their market foothold, this music and video market forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.
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 and Video Market 2020-2024: Segmentation
Music and Video Market is segmented as below:
- 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=IRTNTR45661
Music and Video 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 and video market report covers the following areas:
- Music and Video Market Size
- Music and Video Market Trends
- Music and Video Market Industry Analysis
This study identifies the rising popularity of online video streaming services as one of the prime reasons driving the Music and Video 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.
Register for a free trial today and gain instant access to 17,000+ market research reports.
Music and Video Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist music and video market growth during the next five years
- Estimation of the music and video market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the music and video market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of music and video market vendors
Table of Contents:
- Market ecosystem
- 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 Type
- Market segments
- Comparison by Type
- Video - Market size and forecast 2019-2024
- Music - Market size and forecast 2019-2024
- Market opportunity by Type
Market Segmentation by Platform
- Market segments
- Comparison by Platform
- Digital - Market size and forecast 2019-2024
- Physical - Market size and forecast 2019-2024
- Market opportunity by Platform
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- APAC - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
- Vendor landscape
- Landscape disruption
- Competitive scenario
- Vendors covered
- Market positioning of vendors
- Alphabet Inc.
- Amazon.com Inc.
- Apple Inc.
- Microsoft Corp.
- Netflix Inc.
- Sirius XM Holdings Inc.
- Sony Corp.
- Spotify Technology SA
- Tencent Music Entertainment Group
- The Walt Disney Co.
- 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/20201125005388/en/
CONTACT: Technavio Research
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
INDUSTRY KEYWORD: FILM & MOTION PICTURES CONSUMER ELECTRONICS MUSIC TECHNOLOGY ONLINE MOBILE ENTERTAINMENT GENERAL ENTERTAINMENT ENTERTAINMENT OTHER TECHNOLOGY AUDIO/VIDEO OTHER ENTERTAINMENT
SOURCE: Technavio Research
Copyright Business Wire 2020.
PUB: 11/25/2020 01:47 PM/DISC: 11/25/2020 01:47 PM