Global Cloud Mobile Music Services Market 2017-2021

Overview of the global cloud mobile music services market

According to Technavio’s market research report, the global cloud mobile music services market will grow at a CAGR of more than 7% during the forecast period. The increasing use of cloud services will be one of the major factors stimulating the growth of the market during the estimated period. Vendors are using cloud services to introduce various domestic mobile applications that enable streaming and downloading of music tracks. This will make smartphones and connected devices as a primary point of online access to download and streamline music. Also, smartphones are replacing traditional computing devices such as PCs, laptops, and feature phones due to the various features of smartphones such as compactness, connectivity, and the processing speed. This will boost the number of music listeners on smartphones. Vendors are integrating mobile music applications with cloud services to feature them on social media websites. This will further fuel the demand for cloud mobile music services as they enable listeners to share their playlists and songs with others.

The rising popularity of analytics in the music industry will be one of the key trends gaining traction in the cloud mobile music services market. The support from curators, editors, and data analytics systems enable record companies to provide a customized music experience. Similarly, data analytics services in the music industry enable streaming service providers to identify the music preferences of their customers. This enables them to make intelligent music recommendations for their customer and this will in turn drive the influx of target listeners.

Competitive landscape and key vendors

The cloud mobile music services market is characterized by the presence of several established players as well as new vendors. Vendors are increasingly competing against each other based on factors such as online and offline streaming, music portfolio, and subscription fee. The entry of new players in the market will strengthen the market’s competitive environment. Well-established companies dominate the market as they offer a range of services, solutions, and products. To enhance their growth opportunities, the leading vendors are increasingly focusing on introducing technological innovations.

Key vendors in this market are -

• Alphabet
• Amazon
• Apple
• Spotify

Other prominent vendors in the market include Aspiro, Deezer, Guvera, Gamma Gaana, Microsoft, Rhapsody International, Saavn, Stingray Digital Media Group, and TriPlay.

Segmentation by product and analysis of the cloud mobile music services market

• Downloading services
• Streaming services

The downloading segment is experiencing a maximum number of downloads from online music stores that sell individual tracks and albums. Websites such as iTunes provide customers with a sample track, which enables them to experience the quality of music before purchasing them. iTunes, Amazon Music, Microsoft music store, Saregama India, Recochoku, and Baidu Music are some of the major players in the downloading services sector. Sprint Music Plus by Sprint, Media Store by Verizon Wireless, and Virgin Mobile Music+ by Virgin Mobile USA are some of the network providers that offer online music stores to download songs. The segment will continue to account for the largest shares since the vendors will focus on boosting their sales volume by selling songs at lower prices. 

Segmentation by geography and analysis of the cloud mobile music services market

• Americas
• APAC
• EMEA

During 2016, the Americas contributed to the maximum market shares due to increasing demand for music streaming services in North America. The majority of revenue in Brazil and Argentina is generated by the subscription services, video streaming, and download sales sectors. Standalone offerings and partnerships with telecom operators in Brazil will drive the market for cloud mobile music services for the next four years.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global cloud mobile music services market?
• What are the key market trends impacting the growth of the global cloud mobile music services market?
• What are the challenges to market growth?
• Who are the key vendors in the global cloud mobile music services market?
• What are the market opportunities and threats faced by the vendors in the global cloud mobile music services market?
• What are the trending factors influencing the market shares of the Americas, APAC, and EMEA?
• What are the key outcomes of the five forces analysis of the global cloud mobile music services market?

Technavio also offers customization on reports based on specific client requirement.

The mobile music industry worldwide is undergoing a digital revolution lead by the emergence of cloud-based online music that enables listeners to move from owning music to anytime-anywhere access to music. Moving from an ownership model to subscription and ad-supported music is likely to change the music preferences of consumers as they will experiment more with new forms of music. Technavio’s reports for the ICT industry cover an extensive range of product and services markets including enterprise application, cloud computing, and machine to machine (M2M) and connected devices. Furthermore, they also offer information on various parameters including the constantly changing customer preferences and the factors, which will drive and curtail the success of the vendors in the ICT industry’s marketspace.

By pursuing a mix of primary and secondary research methods and considering several factors such as the market size and the rise in demand for products and services covering an assortment of global locations, research analysts at Technavio detail out the enterprise application industry’s growth prospects to assist clients devise effective growth policies. By analyzing factors such as the products and services offered by major competitors and their competitive analysis, our upcoming market research report on the global cloud mobile music services market provides crucial information derived from the data collected from dependable authorities such as manufacturers, channel partners, regulatory bodies, and decision makers.

This upcoming report on the global cloud mobile music services market also takes into regard the expansion of related markets such as healthcare cloud computing and interactive voice response system, which are forecasted to grow at a CAGR of about 21% and close to 13%, respectively during the forecasted period of 2017 to 2021. As per our industry experts, the increasing dependency on the real-time availability of data and the growing need for a system that will ensure all organizational processes are carried out on a common platform will aid the enterprise application industry’s growth in the next few years. To help businesses enhance their market presence, Technavio also offers to provide customized reports based on the requirements of several clients.

The upcoming industry research report for the global cloud mobile music services market also enlists the significant drivers, key trends, as well as the hurdles currently faced by vendors in the enterprise application sector. It also presents insights into the markets of data center, IT professional services, and IT security.