Industry Background:
Music on demand music is also called music streaming, it is a type of services that offer to the stream of music on a full-length content via the Internet. This music on demand services provides consumers to listen to music by necessarily purchasing a file for download. This type of service is similar to internet radio. The growing use of wearable technology is the most popular trend nowadays. Increasing interest in music on demand in millennials will drive the market for music on demand.
This growth is primarily driven by The Surge in Subscription-Based Services for Music, Increasing Penetration of Smartphone and Availability of Internet and Increasing Awareness Against Piracy Coupled with Increasing Millennial Population.
Globally, a noticeable market trend is evident Adoption of Wearable Technology for Music Such As Apple Watch and Samsung Gear
. The Leisure Facilities 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 Microsoft (United States), Pandora Media (United States), Rdio (United States), Amazon Prime Music (United States), Google Play Music (United States), CBS (United States), Spotify (Sweden), Apple Music (United States) and Deezer (France) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Regulatory Insights:
The market for music on demand appears to be concentrated due to the presence of a few companies. Factors such as the growing use of wearable technology and surge in subscription-based services will provide considerable growth opportunities to music on demand manufactures
Market Drivers
- The Surge in Subscription-Based Services for Music
- Increasing Penetration of Smartphone and Availability of Internet
- Increasing Awareness Against Piracy Coupled with Increasing Millennial Population
Market Trend
- Adoption of Wearable Technology for Music Such As Apple Watch and Samsung Gear
- Increase in the Adoption of Cloud Services
- The Emergence of Multi-Room Streaming
Restraints
- Concern Related To Collecting Information of Users
- High Potentially Hidden Subscription Fees
Opportunities
Rising Disposable Income Coupled With the Interest of Personalized Music on Demand in Emerging Nations and Growing Internet Speed in Developing Nations
Challenges
Lack of Knowledge among the Consumers about Music on Demand in Emerging Nations and Issues Related With the Speed of the Internet in Developing Nations
AMA Research follow 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 showcase the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse 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 include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Music on Demand Study Sheds Light on
The Music on Demand Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Music on Demand industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Music on Demand industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey 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 value they currently claim, or capture the new addressable opportunity.