Music Streaming Service Market Projected to Rise at a CAGR of Over 16% Between 2019 & 2023 - Increasing Emergence of Bundled Services
Dublin, Aug. 28, 2019 (GLOBE NEWSWIRE) -- The "Music Streaming Service Market by End-users, Streaming Service, and Geography - Global Forecast and Analysis 2019-2023" report has been added to ResearchAndMarkets.com's offering.
Increasing preference for music streaming services
Globally, the development of wired and wireless technologies and telecommunication standards such as 3G, 4G, and 5G has resulted in an improvement of Internet bandwidth, thereby supporting the adoption of music streaming services across the world. Music streaming services help prevent illegal downloading and sharing of music.
This demand for increasing preference for music streaming services will lead to the expansion of the global music streaming service market at a CAGR of over 16% during the forecast period.
Increasing introduction of differentiated music streaming services
The increasing introduction of differentiated music streaming services in the global music streaming service market is leading the vendors to provide streaming services to their customers with several features, including easy accessibility on various platforms, auto playlist customization, and high audio quality. This development is expected to have a positive impact on the overall market growth.
Market Dynamics
The market report looks at factors such as increasing preference for music streaming service, the decline in physical sales of music, and increase in mobile ads driving revenue for music streaming apps.
However, lack of ownership in music streaming, low-profit margins of vendors, and illegal downloads and piracy may hamper the growth of the music streaming service industry over the forecast period.
Segment Analysis
The music streaming service market analysis considers sales from both individual and commercial end-users. The analysis also considers the sales of music streaming service in APAC, Europe, North America, South America, and MEA.
In 2018, the individual segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as easy access to music online and increasing use of smart-handheld devices will play a significant role in the individual segment to maintain its market position.
Competitive Landscape
With the presence of several major players, the global music streaming service market is fragmented. The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading music streaming service manufacturers, that include:
Alphabet
Amazon.com
Apple
Sirius XM
Spotify
Also, the music streaming service market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
Key Topics Covered
PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
PART 03: MARKET LANDSCAPE
Market ecosystem
Market characteristics
Market segmentation analysis
PART 04: MARKET SIZING
Market definition
Market sizing 2018
Market size and forecast 2018-2023
PART 05: FIVE FORCES ANALYSIS
Bargaining power of buyers
Bargaining power of suppliers
Threat of new entrants
Threat of substitutes
Threat of rivalry
Market condition
PART 06: MARKET SEGMENTATION BY END-USER
Comparison by end-user
Individual - Market size and forecast 2018-2023
Commercial - Market size and forecast 2018-2023
Market opportunity by end-user
PART 07: MARKET SEGMENTATION BY STREAMING SERVICE
Comparison by streaming service
Paid music streaming service - Market size and forecast 2018-2023
Free music streaming service - Market size and forecast 2018-2023
Market opportunity by streaming service
PART 08: CUSTOMER LANDSCAPE
PART 09: GEOGRAPHIC LANDSCAPE
Geographic comparison
North America - Market size and forecast 2018-2023
APAC - Market size and forecast 2018-2023
Europe - Market size and forecast 2018-2023
South America - Market size and forecast 2018-2023
MEA - Market size and forecast 2018-2023
Key leading countries
Market opportunity
PART 10: DRIVERS AND CHALLENGES
PART 11: MARKET TRENDS
Increasing introduction of differentiated music streaming services
Increasing emergence of bundled services
Growing demand for cloud-based music streaming services
PART 12: VENDOR LANDSCAPE
Overview
Landscape disruption
Competitive scenario
PART 13: VENDOR ANALYSIS
Vendors covered
Vendor classification
Market positioning of vendors
Alphabet Inc.
Amazon.com Inc.
Apple Inc.
Sirius XM Holdings Inc.
Spotify AB
For more information about this report visit https://www.researchandmarkets.com/r/s538a3
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