Global Music Streaming Market to grow at a CAGR of 13.31% during the period 2016 - 2020; Finds New Report

Report forecast the global music streaming market to grow at a CAGR of 13.31% during the period 2016-2020.

Online music streaming enables real-time, uninterrupted access to music without downloading the files. Users can legally access high-quality songs for free for a pre-defined period or by paying a nominal subscription fee. The major advantage of the paid service is that it provides users with ad-free service. Emerging music streaming sites, high-speed internet, cloud technologies, changing customer needs, demand for real-time music access, and innovation in services are adding to the popularity and success of music streaming market.

The report covers the present scenario and the growth prospects of the global music streaming market for 2016-2020. For calculating the market size, the report considers the revenue generated from the music streaming market by region.

The market is divided into the following segments based on geography:

• Americas
• EMEA
• APAC

According to the report, increased usage of smart devices is a key driver for this market. Smartphones and tablets have established themselves as necessary gadgets for consumers worldwide. Users mostly access music on their personal devices while traveling. Therefore, the increasing penetration of smart devices at the global level will result in the market's rapid growth.

Further, the report states that intense competition and inconsistent user preference is a challenge to market growth. Competition among global music streaming service providers is very intense, especially in developing countries. The markets in the developing countries like India are highly fragmented with the presence of global and domestic players, leading to price wars among mobile application vendors since cost is one of the major differentiating factors for consumers in these countries. Further intensifying the competition is the fluctuating consumer preferences.

Global Music Streaming Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

key players in the global music streaming market: Apple, Deezer, Google, iHeartMedia, Pandora, and Spotify.

Other Prominent Vendors in the market are: CBS, Clear Channel Radio, Gaana.com, Grooveshark, Guvera, Hungama MyPlay, JB Hi-Fi Pty, Line, Mixcloud, News, RadioTime, Rara, Rhapsody, Saavn, and SoundCloud.

Market driver

• Growth in music streaming subscription
• For a full, detailed list, view our report

Market challenge

• Threat to data security
• For a full, detailed list, view our report

Market trend

• Globalization of the music streaming market
• For a full, detailed list, view our report

Key questions answered in this report

• What will the market size be in 2020 and what will the growth rate be?
• What are the key market trends?
• What is driving this market?
• What are the challenges to market growth?
• Who are the key vendors in this market space?
• What are the market opportunities and threats faced by the key vendors?
• What are the strengths and weaknesses of the key vendors?

Spanning over 54 pages and 29 Exhibit “Global Music Streaming Market 2016 - 2020” report covers Executive summary, Scope of the report, Market research methodology, Introduction, Market landscape, Industry overview, Geographical segmentation, Market attractiveness, Key leading countries, Buying criteria, Global music streaming market by age, Market drivers, Impact of drivers, Market challenges, Impact of drivers and challenges, Market trends, Vendor landscape, Appendix.

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