Market Size – USD 23.6 Billion in 2020, Market Growth – at a CAGR of 16.5%

NEW YORK CITY, NEW YORK, USA, July 22, 2022 /EINPresswire.com/ -- The global music streaming market size is expected to reach USD 80.6 Billion in 2028 and register a revenue CAGR of 16.5% over the forecast period, according to the latest report by Reports and Data. Increasing competition among music streaming service providers and growing number of users streaming digital content on smartphones, tablets, and desktops are some key factors expected to continue to drive market revenue growth over the forecast period.

Major players are investing in advanced technologies such as 5G for streaming, Augmented Reality (AR), Virtual Reality (VR), holograms, cloud-based services, and Artificial Intelligence (AI) to gain a competitive advantage and leverage revenue opportunities. In addition, advent of enhanced features such as track mixing, automated one-touch customized playlists, and voice assistance are expected to continue to enhance user experience on such platforms going ahead.

Consumers are preferring to pay for music content owing to rise in disposable income. Provision of both a free trial and a paid subscription is expanding user base as well as providing insights to further enhance online music streaming services. However, some threats to privacy and security of users and copy-right related issue related to music streaming in audio and video recording are expected to restrain market growth to a certain extent over the forecast period.

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Top Profiled in the Music Streaming Market Report:
• Google LLC
• Apple, Inc.
• Spotify AB
• Pandora Media
• Deezer
• SoundCloud Limited

Market Segmentation:
Content Type Outlook (Revenue, USD Million; 2018-2028)
• Audio
• Video

Platform Outlook (Revenue, USD Million; 2018-2028)
• Browsers
• Apps

Service Outlook (Revenue, USD Million; 2018-2028)
• Live Streaming
• On-demand

End Use Outlook (Revenue, USD Million; 2018-2028)
• Individual
• Commercial

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Key Takeaways of the Music Streaming Market Report:
• A comprehensive overview of the global Music Streaming industry.
• Accurate market projections in terms of market size, share, and volume.
• Thorough study of the global market dynamics, such as major market revenue growth drivers, opportunities, threats, challenges, restraints, and future growth avenues.
• Deep-dive analysis of the upcoming market trends.
• Qualitative and quantitative analyses of the Music Streaming Market.
• Elaborate study of the leading regional markets in the Music Streaming Market.
• Complete overview of the market’s competitive landscape.
• Brief look at the company profiles and portfolios.

Key Regional Markets Covered in the Report:
• North America
o U.S.
o Canada
o Mexico

• Europe
o Russia
o U.K.
o Germany
o France
o BENELUX
o Rest of Europe

• Asia Pacific
o China
o Japan
o India
o South Korea
o Rest of Asia Pacific

• Latin America
o Brazil
o Rest of Latin America

• Middle East & Africa
o Saudi Arabia
o U.A.E.
o Israel
o Rest of Middle East & Africa

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About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.

Tushar Rajput
Reports and Data
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