Music Streaming Market by Type of Streaming (Live Streaming and On-Demand Streaming), Platform (Apps and Browsers), Content Type, End User and Region - Global Industry Analysis, Opportunities and Forecast up to 2026

The global Music Streaming market size was valued at $24.98 billion in 2020 and is projected to reach $72.73 billion by 2026, growing at a CAGR of 19.5% during the forecast period.

• The demand in the music streaming market is majorly driven by the increasing adoption of broadband infrastructure and mobile devices worldwide. Users can access music streaming services at their convenience with no location or time barrier.

• Furthermore, the increasing popularity of digital platforms and the rising customer preference to adopt advanced consumer electronic products, and the availability of unique and dormant music according to the user’s time and mood is another reason to fuel the growth of the market during the forecast period.
 
• However, complex government regulatory framework and licensing regimes, and the threat from pirated channels are restraining the market growth.
 
• Moreover, advances in smart speakers and voice-controlled devices, tremendous growth in the music industry, and technology expansion in the recording industry is creating ample opportunities across the globe.

The transmission of music in a compressed state by utilizing the internet is termed Music streaming. This service offers consumers unlimited access to a large inventory of music. It can be recovered and played, according to the user’s time and convenience without downloading it manually. The music streaming services do not occupy any space in the storage device. It also offers a person to access millions of songs as per their choice. The streaming services of music and video are increasing consistently over the last decade. Major players are taking strategic initiatives to increase their market shares such as one of the most popular music apps in Europe and the Americas, Spotify added 13 countries in the Middle East and North Africa to enhance its global footprints. This demand is primarily driven by the high adoption of smartphones, rising penetration of the internet, and the growing number of music streaming websites.

By Content Type, the Audio Streaming Segment to Lead the Market

The rising demand for audio content can be attributed to the growing preference of users for multi-tasking, especially listening to songs while commuting to work, exercising, or doing household chores. Moreover, the rising number of commercial end-users, such as restaurants, cafés, pubs, and gymnasiums, using audio streaming platforms to play songs in their commercial spaces is anticipated to drive the segment. Moreover, listening habits are moving gradually to an online platform in recent years. Beginning from music streaming to podcasts, an appetite for digital audio has been witnessed. Preference for smart devices, smartphones, tablets continues to grow which is playing a major role in boosting audio streaming.

By Geography, North America is Leading in the Global Market Place

North America region was the largest market for music streaming in 2020, and it would retain its position during the forecast period. This is mainly attributed to the presence of prominent players such as Spotify, Google, Pandora, SoundCloud, iHeartRadio, and Apple. As the digital music streaming platforms and websites are changing the musical scenario, music streaming is becoming popular in North America which further enhances the market growth in this region.

List of the Key Players Profiled in the Market Include:
• Apple, Inc.
• Amazon.com, Inc.
• Google LLC (YouTube Music)
• Spotify AB
• Pandora Media, Inc.
• Deezer
• Tidal (Aspiro AB)
• iHeartMedia, Inc.
• SoundCloud Limited
• Gamma Gaana Limited
• Idagio
• LiveXLive
• Microsoft Corporation
• QTRAX
• Saavn Media Pvt Ltd.
• Samsung Electronics Co. Ltd.
• Sirius XM Holdings Inc.
• Sony Corporation
• Tencent Music Entertainment Group
• TuneIn, Inc.

What Can be Explored with this Research Report:
• Understand the key trends that will drive the market, challenges it faces in the current market scenario.
• Identify growth opportunities.
• Porter’s five force analysis.
• In-depth analysis of market segments and regions/countries predicted to observe promising growth.
• Historical and forecast size of the market in terms of revenue (USD Million).
• Company profiling with key products and solution offerings, key financial information, SWOT analysis, and business strategies adopted.

Market Segmentation:

The research report includes in-depth coverage of the industry analysis with size, share, and forecast for the below segments:

Global Music Streaming Market by, Type of Streaming
• Live Streaming
• On-Demand Streaming

Global Music Streaming Market by, Platform
• Apps
• Browsers

Global Music Streaming Market by, Content Type
• Audio Streaming
• Video Streaming

Global Music Streaming Market by, End User
• Commercial
• Individual

Global Music Streaming Market by, Geography
• North America
• Europe
• Asia Pacific
• South America
• Middle East & Africa

Table Of Content

1 Market Overview            
    1.1 Introduction       
    1.2 Research Objectives      
    1.3 Market Segmentation      
    1.4 Stakeholders       
    1.5 List of Acronyms       
             
2 Executive Summary           
             
3 Research Methodology           
    3.1 Identification of Data      
    3.2 Evaluation of Market Dynamics     
    3.3 Collaboration of Data      
    3.4 Verification and Analysis      
    3.5 Data Sources       
    3.6 Assumptions       
             
4 Market Dynamics           
    4.1 Market Drivers       
            4.1.1 High availability of smart phones, along with penetration of internet
            4.1.2 Increasing fan base of popular artists enhances the revenue growth
            4.1.3 Growing number of music streaming websites
    4.2 Market Restraints       
            4.2.1 Complex government regulatory framework and licensing regimes
            4.2.2 Threat of data privacy and security of databases are major concern
    4.3 Market Opportunities       
            4.3.1 Development in devices such as smart-speakers and voice controlled devices
            4.3.2 Strong growth in music industry
    4.4 Market Challenges       
            4.4.1 Threat from pirated channels
    4.5 Impact of COVID-19 on Music Streaming Market    
             
5 Porter's Five Force Analysis          
    5.1 Bargaining Power of Suppliers      
    5.2 Bargaining Power of Buyers      
    5.3 Threat of New Entrants      
    5.4 Threat of Substitutes      
    5.5 Competitive Rivalry in the Market     
             
6 Global Music Streaming Market by, Type of Streaming       
    6.1 Overview       
    6.2 Live Streaming       
    6.3 On-Demand Streaming      
             
7 Global Music Streaming Market by, Platform        
    7.1 Overview       
    7.2 Apps        
    7.3 Browsers        
             
8 Global Music Streaming Market by, Content Type        
    8.1 Overview       
    8.2 Audio Streaming       
    8.3 Video Streaming       
             
9 Global Music Streaming Market by, End User        
    9.1 Overview       
    9.2 Commercial       
    9.3 Individual       
             
10 Global Music Streaming Market by, Geography        
    10.1 Overview       
    10.2 North America       
    10.3 Europe        
    10.4 Asia Pacific       
    10.5 South America       
    10.6 Middle East & Africa      
             
11 Key Developments           
             
12 Company Profiling           
    12.1 Apple, Inc.       
             12.1.1 Business Overview
             12.1.2 Product/Service Offering
             12.1.3 Financial Overview
             12.1.4 SWOT Analysis
             12.1.5 Key Activities
    12.2 Amazon.com, Inc.       
    12.3 Google LLC (YouTube Music)      
    12.4 Spotify AB       
    12.5 Pandora Media, Inc.       
    12.6 Deezer        
    12.7 Tidal (Aspiro AB)       
    12.8 iHeartMedia, Inc.       
    12.9 SoundCloud Limited      
    12.10 Gamma Gaana Limited      
    12.11 Idagio        
    12.12 LiveXLive        
    12.13 Microsoft Corporation      
    12.14 QTRAX        
    12.15 Saavn Media Pvt Ltd.      
    12.16 Samsung Electronics Co. Ltd.      
    12.17 Sirius XM Holdings Inc.      
    12.18 Sony Corporation       
    12.19 Tencent Music Entertainment Group     
    12.20 TuneIn, Inc.