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Posted by Amy on September 13, 2024 at 1:57pm 0 Comments 0 Likes
Posted by Robert on September 13, 2024 at 1:57pm 0 Comments 0 Likes
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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Further key findings from the report
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For the purpose of this report, Reports and Data has segmented the global music streaming market on the basis of content type, platform, service, end use, and region:
Content-Type Outlook (Revenue, USD Million; 2018-2028)
Platform Outlook (Revenue, USD Million; 2018-2028)
Service Outlook (Revenue, USD Million; 2018-2028)
End Use Outlook (Revenue, USD Million; 2018-2028)
Regional Outlook (Revenue, USD Million; 2018-2028)
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Key questions answered by the report
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