Technavio has been monitoring the recorded music market and it is poised to grow by USD 10.56 billion during 2020-2024, progressing at a CAGR of over 8% 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 Recorded Music Market 2020-2024 (Graphic: Business Wire)
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The market is concentrated, and the degree of concentration will accelerate during the forecast period. Beggars Group, Bertelsmann SE & Co. KGaA, DAIICHIKOSHO CO. LTD., Kodansha Advanced Media LLC, Master Music Ltd., Naxos Digital Services Ltd., PSI Capital Inc., Sony Corp., Vivendi SA, and Warner Music Group Corp. 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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Technological advances have been instrumental in driving the growth of the market. However, illegal downloads and piracy might hamper market growth.
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Recorded Music Market 2020-2024: Segmentation
Recorded Music Market is segmented as below:
Recorded Music 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 recorded music market report covers the following areas:
Recorded Music Market Size
Recorded Music Market Trends
Recorded Music Market Industry Analysis
This study identifies the growing preference for on-demand music services as one of the prime reasons driving the Recorded Music 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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Recorded Music Market 2020-2024: Key Highlights
CAGR of the market during the forecast period 2020-2024
Detailed information on factors that will assist recorded music market growth during the next five years
Estimation of the recorded music market size and its contribution to the parent market
Predictions on upcoming trends and changes in consumer behavior
The growth of the recorded music market
Analysis of the market’s competitive landscape and detailed information on vendors
Comprehensive details of factors that will challenge the growth of recorded music market, vendors
Table of Contents:
Value chain analysis
Market segment analysis
Market size 2019
Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
Five forces analysis 2019 & 2024
Bargaining power of buyers
Bargaining power of suppliers
Threat of new entrants
Threat of substitutes
Threat of rivalry
Market Segmentation by Type
Comparison by Type
Digital - Market size and forecast 2019-2024
Physical - Market size and forecast 2019-2024
Others - Market size and forecast 2019-2024
Market opportunity by Type
Europe - Market size and forecast 2019-2024
North America - 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 positioning of vendors
Bertelsmann SE & Co. KGaA
DAIICHIKOSHO CO. LTD.
Kodansha Advanced Media LLC
Master Music Ltd.
Naxos Digital Services Ltd.
PSI Capital Inc.
Warner Music Group Corp.
Scope of the report
Currency conversion rates for US$
List of abbreviations
Technavio is a leading global technology research and advisory company. Their research and analysis focus 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/20200902005092/en/