New York, December 13, 2021/PRNewswire/-"End users (individual users and commercial users), genres (music streaming and broadcast on demand), and geography (North America, Europe, Asia Pacific, South America, and MEA)-2021 -2025 Forecast and Analysis" report has been added to Technavio's products. With ISO 9001:2015 certification, Technavio has been proud to work with more than 100 Fortune 500 companies for 16 years.
The potential growth difference of the music-on-demand market from 2020 to 2025 is USD 24.98 billion. To get the exact annual growth difference and YOY growth rate, please consult our analysts.
The growth of mobile advertising spending and the surge in subscription services are some of the key market drivers. However, factors such as providing users with free music access through modified applications will challenge market growth.
Learn about other key drivers, trends and challenges available to Technavio. Read our free sample report now!
The music-on-demand market report is broken down by end users (individual users and commercial users), genre (music streaming and broadcast on-demand), and geography (North America, Europe, Asia Pacific, South America, and MEA).
Based on end users, the individual user segment market will have significant market share growth during the forecast period. Due to the development of network infrastructure, the personal user segment is expected to dominate the music-on-demand market. Such developments are reducing the cost of Internet services, thereby simplifying the process of accessing music streaming services on mobile devices. Telecommunication standards such as 3G, 4G, and 5G enable users to obtain high-quality music.
According to the type, paid music streaming services are expected to experience rapid growth in revenue growth during the forecast period. The premium service offers a variety of features, including immunity from advertising, new song recommendations, access to an extensive song catalog, playlist customization, and third-party integration (such as Amazon's Alexa).
By region, during the forecast period, North America will become the leading region for 40% of market growth. The United States is the main market for music on-demand in North America. The market growth in this region will be faster than the growth of the MEA and South American markets. During the forecast period, the presence of many artists and music publishers and a complete network infrastructure will drive the demand for music on demand in North America.
Check out our sample report to learn more about the contribution of all market segments and regional opportunities in the report.
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Top market: The top market has been segmented by type (video, text and image, VoIP and music streaming) and geography (North America, Europe, Asia Pacific, South America, and MEA). Download free sample report
Digital outdoor market: Digital outdoor market by type (in-store advertising and outdoor advertising), category (billboards, shelters, transportation and street facilities), applications (retail, entertainment, banking, transportation, etc.), and geographic (Asia Pacific, North America) , Europe, MEA and South America). Download free sample report
Accelerate with a compound annual growth rate of 13.19%
North America, Europe, Asia Pacific, South America and MEA
U.S., China, U.K., Germany, and Japan
Leading company, competitive strategy, scope of consumer participation
Alphabet Inc., Amazon.com Inc., Apple Inc., Canadian Broadcasting Corp., Gamma Gaana Ltd., Hungama Digital Media Entertainment Pvt. Ltd., iHeartMedia Inc., Mood Media Corp., SoundCloud Ltd., and Spotify Technology SA
Mother market analysis, market growth incentives and obstacles, fast-growing and slow-growing market segments, COVID-19 impact and future consumer dynamics, and market conditions in the forecast period.
If our report does not contain the data you are looking for, you can contact our analysts and customize the market segment.
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