Global Online Music Streaming Strategic Market Report 2023: Rise in Freemium Business Models by Online Music Streaming Services – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Online Music Streaming – Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering.
Global Online Music Streaming Market to Reach $78.5 Billion by 2030
In the changed post COVID-19 business landscape, the global market for Online Music Streaming estimated at US$23.9 Billion in the year 2022, is projected to reach a revised size of US$78.5 Billion by 2030, growing at a CAGR of 16% over the analysis period 2022-2030.
Audio, one of the segments analyzed in the report, is projected to record 14.6% CAGR and reach US$42.7 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Video segment is readjusted to a revised 18.1% CAGR for the next 8-year period.
The U.S. Market is Estimated at $6.5 Billion, While China is Forecast to Grow at 21.2% CAGR
The Online Music Streaming market in the U.S. is estimated at US$6.5 Billion in the year 2022. China, the world’s second largest economy, is forecast to reach a projected market size of US$18.7 Billion by the year 2030 trailing a CAGR of 21.2% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 11.9% and 13.7% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 12.7% CAGR.
Looking Ahead to 2023
The global economy is at a critical crossroads with a number of interlocking challenges and crises running in parallel. The uncertainty around how Russia`s war on Ukraine will play out this year and the war`s role in creating global instability means that the trouble on the inflation front is not over yet.
- Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
- Global competitiveness and key competitor percentage market shares
- Market presence across multiple geographies – Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and Research Platform
- Complimentary updates for one year
Key Topics Covered:
- Influencer Market Insights
- World Market Trajectories
- Online Music Streaming – Global Key Competitors Percentage Market Share in 2022 (E)
- Impact of Covid-19 and a Looming Global Recession
- Industry Witnesses Drop in Music Services Amid COVID-19
- Lockdowns Increase Consumption of Music Streaming Services
- Future of Music Streaming Post COVID-19
- Online Music Streaming: An Overview
- Competitive Market Presence – Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
FOCUS ON SELECT PLAYERS (Total 96 Featured)
- Amazon.com, Inc.
- Apple, Inc.
- Baidu, Inc.
- Google, Inc. – Google Play
- Pandora Media, Inc.
- RealNetworks, Inc.
- Samsung Electronics Co., Ltd.
- Sony Corporation
- Spotify AB
- Vodafone Group PLC
MARKET TRENDS & DRIVERS
- Telecom Network Operators Add Music Services to Boost Growth
- Rise in Subscription Services Drive Music Streaming
- Market Share of Music Streaming Subscribers Worldwide
- Rise in Freemium Business Models by Online Music Streaming Services
- Rise in Wearable Amplify Growth Opportunities
- Benefits of Online Music Streaming Platforms
- Popular Music Streaming Services in the US by Age Group
- Online Music Streaming Ushers in a Revolution in Music Industry
- US Music Revenues by Format: 2019
- Factors Driving Growth in Online Music Subscription
- Millennials Catch up with Music Streaming
- Young Adults: Major Demographic for Online Music
- Breakdown of Streaming Music Listeners by Age-Group
- Select Music Sources in the US by Age Group
- Music Consumption by Location
GLOBAL MARKET PERSPECTIVE
For more information about this report visit https://www.researchandmarkets.com/r/8rlx9f
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