Global Cloud Mobile Music Services Market 2017-2021: Geographical Segmentation and Forecasts by Technavio

Technavio has published a new report on the global cloud mobile music services market from 2017-2021. (Graphic: Business Wire)

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LONDON--()--The global cloud mobile music services market is expected to grow at a CAGR of more than 7% during the forecast period, according to Technavio’s latest market research.

In this market research report, Technavio covers the market outlook and growth prospects of the global cloud mobile music services market for 2017-2021. The market is further categorized into two product segments, including downloading services and streaming services, of which the downloading services led the market with a little over 50% of the overall market share in 2015.

“Cloud-based online music enables listeners to move from the traditional way of owning music to a new model of 'anytime-anywhere' access to music. Moving from an ownership model to subscription and ad-supported music is likely to change the music preferences of consumers as they will experiment more with the new forms of music,” says Ishmeet Kaur, a lead enterprise application research expert from Technavio.

Technavio’s research analysts segment the global cloud mobile music services market into the following regions:

  • Americas
  • EMEA
  • APAC

Americas: largest market for cloud mobile music services

In 2016, the US and Canada were the key regions in the cloud mobile music services market in North America. Increasing number of mobile phone users, rising Internet penetration, and popular social media fueled the demand for cloud mobile music services in the region. In 2016, there was an increase in the demand for music streaming services in North America.

In 2016, South America recorded a high growth in the recorded music segment. Brazil and Argentina contributed significantly to the music industry in the region. The majority of the revenue is generated by the subscription services, video streaming, and download sales sectors. Since the launch of Spotify in 2014 and Deezer and Napster in 2013, the revenue from subscription services has risen significantly.

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EMEA:

Western Europe and Eastern Europe are the leading contributors to the market in EMEA due to an increased shift toward subscription and streaming services. In 2016, the streaming music services segment in the UK recorded a high growth. The demand for streaming music services also increased in Germany and Italy.

“In Europe, the online streaming service providers are partnering with telecom operators. These partnerships help the telecom operators by saving money on developing music applications and the cloud music providers can access a wider market without marketing and endorsements, thus, creating a win-win situation for both the parties,” says Ishmeet.

MEA is witnessing intense competition in the mobile music services market due to the presence of foreign and domestic players. Foreign players include vendors such as Apple Music and Deezer. Anghami, based in Lebanon, is one of the leading domestic music streaming platforms in MEA with more than 25 million users and more than 16 million songs. It is available in several countries such as Morocco, Lebanon, and Kuwait.

APAC

In APAC, China is a major player in the cloud mobile music services market. However, compared with EMEA and the Americas, the adoption of cloud mobile music services is less in APAC. The major challenge faced by the cloud music providers in APAC countries, such as India and China, is the rampant use of pirated music and lack of government initiatives to regulate them. The mobile music services market generates a low revenue due to the free online streaming services provided by the vendors in China. Some of the major music streaming services in China, such as Baidu Music, Xiami, and QQ music, are freely available.

The music streaming market in Australia is highly competitive due to the presence of Spotify, Apple music, and TIDAL. Telecom network operators in Australia are providing several offers by partnering with music streaming services, which has helped to boost the music streaming market in the country.

The top vendors in the global cloud mobile music service market as highlighted in this market research analysis are:

  • Alphabet
  • Amazon
  • Apple
  • Spotify

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

The global cloud mobile music services market is expected to grow at a CAGR of more than 7% during the forecast period, 2017-2021.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com