Global Online Music Streaming Market Report 2022: A $29.66 Billion Market by 2027 from $16.11 Billion in 2021 - Industry Trends, Share, Size, Growth, Opportunity and Forecasts - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Online Music Streaming Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.

The global online music streaming market size reached US$ 16.11 Billion in 2021. Looking forward, the market is set to reach US$ 29.66 Billion by 2027, exhibiting a CAGR of 10.71% during 2021-2027.

Presently, several companies are introducing smart devices, such as Amazon's Alexa and Google Cast, to stream music online with hands-free control and instant playback features. With the escalating demand for these smart devices, on account of rapid urbanization, inflating disposable incomes and the emergence of smart homes, the demand for online music streaming applications is escalating worldwide.

Online Music Streaming Market Trends:

Growing dependency on smartphones, increasing penetration of the internet and the thriving media and entertainment industry are among the key factors stimulating the growth of the online music streaming market worldwide.

Moreover, easy access to music on multiple devices, along with the rising trend of on-demand songs, are driving the market growth. Apart from this, the integration of online music streaming applications with social media platforms allows users to create and share collaborative playlists with acquaintances. They also offer young artists a platform to upload and promote their tracks and reach a wider audience.

Furthermore, digital service providers (DSPs) are launching applications with a user-friendly interface and a huge library of music and podcasts. These providers are also offering attractive premium plans, such as family packs or free subscription for a few months, which, in turn, is anticipated to bolster the market growth in the coming years.

Key Questions Answered in This Report:

• How has the global online music streaming market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the global online music streaming market?
• What are the key regional markets?
• What is the breakup of the market based on the service?
• What is the breakup of the market based on the revenue model?
• What is the breakup of the market based on the platform?
• What is the breakup of the market based on the content type?
• What is the breakup of the market based on the end user?
• What are the various stages in the value chain of the industry?
• What are the key driving factors and challenges in the industry?
• What is the structure of the global online music streaming market and who are the key players?
• What is the degree of competition in the industry?

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being

• Amazon.com Inc
• ANGHAMI
• Apple Inc.
• Gamma Gaana Ltd. (The Times Group)
• iHeartMedia Inc.
• Musixmatch
• Saavn Media Pvt Ltd.
• SoundCloud Ltd.
• Spotify AB
• Tencent Music Entertainment Group.

Key Market Segmentation:

Breakup by Service:

• On-demand Streaming
• Live Streaming

Breakup by Revenue Model:

• Subscription
• Non-subscription

Breakup by Platform:

• App
• Browser

Breakup by Content Type:

• Audio
• Video

Breakup by End User:

• Individual
• Commercial

Breakup by Region:

• North America
• United States
• Canada
• Asia-Pacific
• China
• Japan
• India
• South Korea
• Australia
• Indonesia
• Europe
• Germany
• France
• United Kingdom
• Italy
• Spain
• Russia
• Latin America
• Brazil
• Mexico
• Middle East and Africa

For more information about this report visit https://www.researchandmarkets.com/r/tcl7l9