NEW YORK, July 28, 2022 /PRNewswire/ -- The "Music and Video Market by Type (video and music), Geography (North America, Europe, APAC, South America, and MEA), and Platform (digital and physical) - Forecast and Analysis 2021-2025" report has been added to Technavio's offering. The market value is set to grow by USD 154.45 billion, progressing at a CAGR of 12.14% from 2020 to 2025, as per the latest report by Technavio.
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Key Market Dynamics:
One of the key factors driving growth in the music and video market is the rising Internet and smartphone penetration. With the advent of high-end smartphones and the easy availability of the Internet, users are opting for online streaming services.
This increase in the number of smartphones is making it easier for users to access video and music content on the go. With the increasing mobile Internet subscriptions, many online streaming service providers are exploring OTT platforms to provide online streaming services.
Increased Internet connectivity, coupled with the availability of smartphones at low costs, has fueled the demand for these devices in emerging markets such as India, Russia, and Mexico. Therefore, the rising penetration of smartphones and easy access to the Internet is driving the growth of the music and video market.
The video piracy issues and illegal downloading of music tracks will be a major challenge for the music and video market during the forecast period. Software is available on the Internet, such as BitTorrent and uTorrent, which can be used to download audio and video content.
Although the use of services such as BitTorrent is not illegal, the content shared through it is mostly copyrighted, which makes it illegal. As it is difficult for some users to get a subscription for online streaming services, torrents make it easier by offering single-source downloads for all this content.
In addition, the content shared through torrents is mostly ad-free, offering an advantage over advertisement-based video on demand (AVOD) streaming services. Owing to these advantages, many people prefer using torrents and do not subscribe to OTT platforms.
Even though strict regulations and laws have been implemented to reduce illegal downloading, the lack of accountability helps increase the adoption of illegal downloading. This, in turn, is hampering the revenue growth of the music and video market.
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Segmentation Analysis & Forecasts:
The music and video market are segmented by Type (video and music) and Platform (digital and physical).
The market share growth by the video segment will be significant during the forecast period. Increased adoption of smartphones and smart TVs, enhanced Internet connectivity, and a wide variety of video content on over-the-top (OTT) platforms are driving the growth of the video segment of the global music and video market.
Moreover, increasing Internet speed and deployment of 4G and 5G Internet connectivity are also contributing to the growth of the video segment of the global music and video market.
The demand for video streaming services is witnessing significant growth in emerging economies, such as India and China. As a result, the number of subscribers for online video streaming service providers has increased drastically. For instance, in 2020, Netflix had around 775 million subscribers globally.
The music and video market are segmented by Geography (North America, Europe, APAC, South America, and MEA).
30% of the market's growth will originate from North America during the forecast period. The US is the key market for music and video in North America.
However, the market growth rate in North America will be slower than the growth of the market in other regions.
The rising demand for OTT services for video streaming will facilitate the music and video market growth in North America over the forecast period.
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Some of the Major Companies Mentioned:
The music and video market are fragmented, and the vendors are deploying growth strategies such as partnering with various artists to generate their original content to compete in the market.
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Music and Video Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of almost 12.14%
Market growth 2021-2025
$ 154.45 billion
YoY growth (%)
North America, Europe, APAC, South America, MEA, North America, Europe, APAC, South America, and MEA
Performing market contribution
North America at 30%
Key consumer countries
US, China, UK, Japan, and Germany
Leading companies, competitive strategies, consumer engagement scope
Alphabet Inc., Amazon.com Inc., Apple Inc., Microsoft Corp., Netflix Inc., Sirius XM Holdings Inc., Sony Corp., Spotify Technology SA, Tencent Music Entertainment Group, and The Walt Disney Co.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, and market condition analysis for the forecast period.
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Key Topics Covered:
1 Executive Summary
2 Market Landscape
2.1 Market ecosystem
2.2 Value chain analysis
3 Market Sizing
3.1 Market definition
3.2 Market segment analysis
3.3 Market size 2020
3.4 Market outlook: Forecast for 2020 - 2025
4 Five Forces Analysis
4.1 Five forces summary
4.2 Bargaining power of buyers
4.3 Bargaining power of suppliers
4.4 Threat of new entrants
4.5 Threat of substitutes
4.6 Threat of rivalry
4.7 Market condition
5 Market Segmentation by Type
5.1 Market segments
5.2 Comparison by Type
5.3 Video - Market size and forecast 2020-2025
5.4 Music - Market size and forecast 2020-2025
5.5 Market opportunity by Type
6 Market Segmentation by Platform
6.1 Market segments
6.2 Comparison by Platform
6.3 Digital - Market size and forecast 2020-2025
6.4 Physical - Market size and forecast 2020-2025
6.5 Market opportunity by Platform
7 Customer landscape
8 Geographic Landscape
8.1 Geographic segmentation
8.2 Geographic comparison
8.3 North America - Market size and forecast 2020-2025
8.4 Europe - Market size and forecast 2020-2025
8.5 APAC - Market size and forecast 2020-2025
8.6 South America - Market size and forecast 2020-2025
8.7 MEA - Market size and forecast 2020-2025
8.8 Key leading countries
8.9 Market opportunity by geography
9 Drivers, Challenges, and Trends
9.1 Market drivers
9.2 Market challenges
9.3 Market trends
10 Vendor Landscape
10.2 Vendor landscape
10.3 Landscape disruption
11 Vendor Analysis
11.1 Vendors covered
11.2 Market positioning of vendors
11.3 Alphabet Inc.
11.4 Amazon.com Inc.
11.5 Apple Inc.
11.6 Microsoft Corp.
11.7 Netflix Inc.
11.8 Sirius XM Holdings Inc.
11.9 Sony Corp.
11.10 Spotify Technology SA
11.11 Tencent Music Entertainment Group
11.12 The Walt Disney Co.
12.1 Scope of the report
12.2 Currency conversion rates for US$
12.3 Research methodology
12.4 List of abbreviations
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