Industry Background:
Mobile Streamed Music is a way of delivering sound that includes music without any need of download files from the internet. Mobile Streamed Music market is expected to mark significant growth over forecasted period owing to increasing consumers spending on subscription based streaming devices and technological advancement. There has been significant rise in number of people using variety of music with figure stood up to 80% in United States alone in 2018, so the future for mobile streamed music looks promising. The major companies are adding more proven technologies systematically and strategically in Asia-Pacific countries as these countries are focused on fastest-growing verticals in the media and entertainment sector. Further, increasing demand for the apple music and iTunes expected to drive the market growth over the forecasted period.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia Pacific |
Unit | Value (USD Billion) |
Key Companies Profiled | Apple Inc. (United States), Google Inc. (United States), Microsoft Corp. (United States), Pandora Media Inc. (United States), Rdio Inc. (United States), Sony Corp. (Japan), Spotify AB (Sweden), TuneIn (United States) and Aspiro (Norway) |
According to AMA, the market for Mobile Streamed Music is expected to register a CAGR of 13.5% during the forecast period to 2030. This growth is primarily driven by Increase Popularity of Cloud Based Music Boost the Mobile Stream Market. and Rapid Demand of Cloud Based Digitalization Fuelled Up the Mobile Streamed Music Market..
Globally, a noticeable market trend is evident Collaboration and Tie Up Of Leading Players
The Broadcasting & Cable TV sector in the North America region has been increasing at a sustainable rate, and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as Apple Inc. (United States), Google Inc. (United States), Microsoft Corp. (United States), Pandora Media Inc. (United States), Rdio Inc. (United States), Sony Corp. (Japan), Spotify AB (Sweden), TuneIn (United States) and Aspiro (Norway), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. The vendors in this market are majorly focusing on developing innovative products and solutions in order to cater to the market's demands to remain competitive in the global market. According to the recent global industry crisis due to the outbreak of COVID-19 is expected to be one of the major challenges for the vendors of this market as the production and markets of different industries have been shut down for an ambiguous period of time.
Key Developments in the Market:
In December 2020, Apple's acquired platoon, a London based company. This acquisition is beneficial in providing original content that might be release music either exclusively or for a period of exclusivity on the music streaming service.
In May 2020, Youtube launched a music streaming service which is beneficial in providing strategic disincentive at U.S, Australia, New Zealand, Mexico and South Korea.
Influencing Trend:
Collaboration and Tie Up Of Leading Players and Rising Demand between teenages groups
Market Growth Drivers:
Increase Popularity of Cloud Based Music Boost the Mobile Stream Market. and Rapid Demand of Cloud Based Digitalization Fuelled Up the Mobile Streamed Music Market.
Challenges:
Limitation Due to Privacy and Piracy Concerns are Anticipated to Challenge the Market. and Fluctuation of Subscription Price is Anticipated to Challenge the Market.
Restraints:
Lack of Awareness Among the Customers Hampers the Mobile Streamed Music Market.
Opportunities:
Proliferation of Smartphones, Tablets and Notebooks Leads to Grow the Streamed Music Market. and Upsurge Demand of Innovative Music Streaming Apps for Smartphones.
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Mobile Streamed Music Market
- Analysis about New Entrants in Mobile Streamed Music Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Mobile Streamed Music Study Sheds Light on
The Mobile Streamed Music Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Mobile Streamed Music industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Mobile Streamed Music industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.