Future Music Streaming Market: Key Dynamics, Size & Share Analysis

The Global Music Streaming Market size is valued at around USD 22.7 billion in 2022 & is estimated to grow at a CAGR of about 12.32% during the forecast period, i.e., 2023-28. The market is expected to upscale due to some factors like the widespread adoption of smartphones & internet, rising prevalence for music streaming services, and the upgrade in the revenue generated from mobile advertisement.

Top Challenges Impacting the Music Streaming Market Growth

Lack of Ownership & the Availability of the Music Only When Connected to Internet is Impeding the Growth – The growth of the Global Music Streaming Market during the forecast period is expected to be hindered by the absence of music ownership & the limitation on offline music access. Subscription-based licensing models dominate the market, granting consumers extensive song libraries. However, the inability to possess the music they stream & the restriction on downloading music discourages potential subscribers. Furthermore, the dependency on internet connectivity for streaming music may also contribute to deterring customers from adopting music streaming services, thus impeding market development.

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Understanding the Core Segments in the Music Streaming Market

Music Streaming Market Size, Share & Industry Trends Analysis- By Platform (Apps, Browsers), By Content Type (Audio, Video), By End Users (Individual, Commercial), By Region (North America, South America, Europe, The Middle East & Africa, Asia-Pacific), By Company (Amazon Inc., Apple Inc., Deezer, Google LLC, iHeartMedia, Inc., Pandora Media, Inc., SoundCloud Limited, Spotify AB, Tencent Music Entertainment Group, Tidal (Aspiro AB), Guvera, Microsoft, Slacker, Times Internet, Yandex, and Others

Geographical Analysis of the Music Streaming Market

• North America
• South America
• Europe
• The Middle East & Africa
• Asia-Pacific

North America is presumed to account for the lion’s share of the Global Music Streaming Market in the coming years.

Who Dominates the Music Streaming Market Insights on Key Industry Players?

Companies are strengthening their presence in the Music Streaming market by adopting strategies such as forming strategic alliances, leveraging AI, entering partnerships, pursuing mergers and acquisitions, expanding into new regions, and introducing innovative products and services.

• Amazon Inc.
• Apple Inc.
• Deezer
• Google LLC
• iHeartMedia, Inc.
• Pandora Media, Inc.
• SoundCloud Limited
• Spotify AB
• Tencent Music Entertainment Group
• Tidal (Aspiro AB)
• Guvera
• Microsoft
• Slacker
• Times Internet
• Yandex
• Others

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