Brooklyn, NY -- (SBWire) -- 03/09/2018 --The global market for music streaming has become more dynamic, thanks to the increasing inclination of consumers, especially the younger ones, towards such services. The significant surge constant technological advancements is also adding to the demand for music streaming among smartphone users considerably. Going forward, the market is anticipated to show significant rise in the years to come, owing to the increasing penetration of online streaming of songs using audio and video platforms. However, this is likely to reflect negatively on the physical album segment over the forthcoming years. The market is also projected to be hindered due to increasing piracy in the near future.
The rising number of Internet-enabled mobile devices, such as Android phones and iPhone in the key factor that has been driving the growth of the global music streaming market. The increasing disposable income of consumers, leading to a rise in smart phones and other devices that support streaming services, such as iPods, is expected to boost this market substantially in the years to come. The increasing paid subscription by consumers is also projected to support this market in near future. With the increasing uptake of cloud services, offering consumers an access to music online, the number of paid subscription is increasing substantially among consumers.
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Radio Stations to Continue as Most Favored Music Streaming Channel
Radio stations and on-demand services have surfaced as the most prominent types of music streaming across the world. Among the two, radio station streaming is currently the leading segment of this market.
Mobile phones and tablet PCs are the key application areas for music streaming across the world. Among these, the mobile phone segment has emerged dominant and are expected to remain so in the near future.
United States to Dominate Global Music Streaming Market
Based on the region, the worldwide market for music streaming is classified into Europe, Japan, China, India, the United States, and Southeast Asia. With the maximum revenue contribution, the U.S is leading the global market. Researchers expect this regional market to remain on the top over the next few years. Europe, also, is projected to witness a significant rise in its market for music streaming in the years to come.
The Southeast Asia market for music streaming is also anticipated to witness a tremendous rise in the coming years, thanks to the increasing number of high net worth individuals, together with a rise in the number of smartphone users. The markets for music streaming in Japan, China, and India will observe steady growth in the near future, thanks to the technological advancements and the increasing interest of leading companies in emerging economies with seemingly untapped potentials.
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Players to Focus on Technological Advancements to Engage More Audience
The global music streaming market is highly consolidated with a number of companies undergoing mergers and acquisitions, in a bid to expand their reach. Myspace, Saavn, Google, Deezer, Apple, Hungama MyPlay, Spotify, RadioTime, Mixcloud, Guvera, SoundCloud, Aspiro Group, Napster, iHeartMedia, Curb Records, Pandora Media, and Gaana are some of the global players in the market for music streaming. These players are focusing more on making their site and application technologically advanced to engage more audience in order to increase their subscriber count.
Table of Contents
Global Music Streaming Market Size, Status and Forecast 2025
1 Industry Overview of Music Streaming
1.1 Music Streaming Market Overview
1.1.1 Music Streaming Product Scope
1.1.2 Market Status and Outlook
1.2 Global Music Streaming Market Size and Analysis by Regions (2013-2018)
1.2.1 United States
1.2.2 EU
1.2.3 Japan
1.2.4 China
1.2.5 India
1.2.6 Southeast Asia
2 Global Music Streaming Competition Analysis by Players
2.1 Music Streaming Market Size (Value) by Players (2013-2018)
2.2 Competitive Status and Trend
2.2.1 Market Concentration Rate
2.2.2 Product/Service Differences
2.2.3 New Entrants
2.2.4 The Technology Trends in Future
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3 Company (Top Players) Profiles
3.1 Apple
3.1.1 Company Profile
3.1.2 Main Business/Business Overview
3.1.3 Products, Services and Solutions
3.1.4 Music Streaming Revenue (Million USD) (2013-2018)
3.1.5 Recent Developments
3.2 Deezer
3.2.1 Company Profile
3.2.2 Main Business/Business Overview
3.2.3 Products, Services and Solutions
3.2.4 Music Streaming Revenue (Million USD) (2013-2018)
3.2.5 Recent Developments
3.3 Google
4 Global Music Streaming Market Size by Type and Application (2013-2018)
4.1 Global Music Streaming Market Size by Type (2013-2018)
4.2 Global Music Streaming Market Size by Application (2013-2018)
4.3 Potential Application of Music Streaming in Future
4.4 Top Consumer/End Users of Music Streaming
...
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Music Streaming Becomes More Dynamic, Thanks to Increasing Inclination of Consumers