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Music on Demand Market by End-user, Type, and Geography - Forecast and Analysis 2021-2025

  • Published: Nov 2021
  • Pages: 120
  • SKU: IRTNTR71589
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The music on demand market share is expected to increase by USD 24.98 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 13.19%.

This music on demand market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers music-on-demand market segmentation by end-user (individual users and commercial users), type (music streaming and radio on demand), and geography (North America, Europe, APAC, South America, and MEA). The music on demand market report also offers information on several market vendors, including Alphabet Inc., Amazon.com Inc., Apple Inc., Canadian Broadcasting Corp., Gamma Gaana Ltd., Hungama Digital Media Entertainment Pvt. Ltd., iHeartMedia Inc., Mood Media Corp., SoundCloud Ltd., and Spotify Technology SA among others.

What will the Music on Demand Market Size be During the Forecast Period?

Music on Demand Market Size

Download the Free Report Sample to Unlock the Music on Demand Market Size for the Forecast Period and Other Important Statistics

 

Music On Demand Market: Key Drivers, Trends, and Challenges

The growth in mobile advertisement spending is notably driving the music on demand market growth, although factors such as free music access to users through modified apps may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the music-on-demand industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Music on Demand Market Driver

The growth in mobile advertising spending is one of the major factors driving the music-on-demand market growth. With the high penetration of tablets and smartphones, service provides are developing mobile apps to provide easy access and usage to customers, and thereby capitalize on this market. This has also led to growth in mobile advertising, making it one of the most popular advertising methods. These apps also require users to fill in their personal details, which provides data to vendors for targeted marketing and helps them retain customers. Subsequently, growth in mobile advertising will create higher revenue for music on-demand market and drive its growth.

Key Music on Demand Market Trend

The rise in the adoption of cloud services is one of the key music on demand market trends. Cloud services allow subscription users to access digital content stored in remote servers, as well as store, download, stream, and share content. This has encouraged users to move from music systems to cloud-based streaming services. It is also being adopted by music companies as it provides users legal access to music. 

Key Music on Demand Market Challenge

Modified apps provide free access to many streaming services in rooted Android devices and jailbroken iOS devices. Many illegal and cracked apps can be installed in rooted/jailbroken devices and can be used to access paid services free of cost. With the help of cracked apps for streaming services, the user can access premium services for free. Most of the revenue in the global music on demand market comes from paid-for services. Thus, the development and use of cracked apps during the forecast period is likely to hinder the growth of the global music on demand market.

This music on demand market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Who are the Major Music on Demand Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

  • Alphabet Inc.
  • Amazon.com Inc.
  • Apple Inc.
  • Canadian Broadcasting Corp.
  • Gamma Gaana Ltd.
  • Hungama Digital Media Entertainment Pvt. Ltd.
  • iHeartMedia Inc.
  • Mood Media Corp.
  • SoundCloud Ltd.
  • Spotify Technology SA

 

This statistical study of the music on demand market encompasses successful business strategies deployed by the key vendors. The music on demand market is fragmented and the vendors are deploying growth strategies such as distinguishing their product and service offerings through clear and unique value propositions to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The music on demand market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Music on Demand Market?

Music on Demand Market Market segmentation by region

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40% of the market's growth will originate from North America during the forecast period. The US is a key market for music on demand in North America. Market growth in this region will be faster than the growth of the market in MEA and South America.

The presence of numerous artists, music publishers, and well-developed network infrastructure will facilitate the music on demand market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating End-user Segments in the Music On Demand Market?

Music on Demand Market Segmentation

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The music on demand market share growth by the individual users segment will be significant during the forecast period. The individual users segment is expected to dominate the global music on demand market owing to the developments in network infrastructure that are lowering the cost of Internet services and providing people with access to music streaming services on mobile devices. The developments in telecommunication standards such as 3G, 4G, and 5G are also expected to drive the individual users segment, as these networks enable individual users to access high-quality music from anywhere at any given point in time. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the music on demand market size and actionable market insights on post COVID-19 impact on each segment.

 

Music on Demand Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 13.19%

Market growth 2021-2025

$ 24.98 billion

Market structure

Fragmented

YoY growth (%)

12.05

Regional analysis

North America, Europe, APAC, South America, and MEA

Performing market contribution

North America at 40%

Key consumer countries

US, China, UK, Germany, and Japan

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Alphabet Inc., Amazon.com Inc., Apple Inc., Canadian Broadcasting Corp., Gamma Gaana Ltd., Hungama Digital Media Entertainment Pvt. Ltd., iHeartMedia Inc., Mood Media Corp., SoundCloud Ltd., and Spotify Technology SA

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

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What are the Key Data Covered in this Music on Demand Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive music on demand market growth during the next five years
  • Precise estimation of the music on demand market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the music on demand industry across North America, Europe, APAC, South America, and MEA
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of music on demand market vendors

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Executive Summary

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2020
  • Market outlook: Forecast for 2020 - 2025

Five Forces Analysis

  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by End-user

  • Market segments
  • Comparison by End-user
  • Individual users - Market size and forecast 2020-2025
  • Commercial users - Market size and forecast 2020-2025
  • Market opportunity by End-user

Market Segmentation by Type

  • Market segments
  • Comparison by Type
  • Music streaming - Market size and forecast 2020-2025
  • Radio on demand - Market size and forecast 2020-2025
  • Market opportunity by Type

Customer landscape

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • North America - Market size and forecast 2020-2025
  • Europe - Market size and forecast 2020-2025
  • APAC - Market size and forecast 2020-2025
  • South America - Market size and forecast 2020-2025
  • MEA - Market size and forecast 2020-2025
  • Key leading countries
  • Market opportunity by geography
  • Market drivers
  • Market challenges
  • Market trends

Vendor Landscape

  • Overview
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • Alphabet Inc.
  • Amazon.com Inc.
  • Apple Inc.
  • Canadian Broadcasting Corp.
  • Gamma Gaana Ltd.
  • Hungama Digital Media Entertainment Pvt. Ltd.
  • iHeartMedia Inc.
  • Mood Media Corp.
  • SoundCloud Ltd.
  • Spotify Technology SA

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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Music on Demand market growth will increase by $24.98 billion during 2020-2025.
The music on demand market is expected to grow at a CAGR of 13.19% during 2020-2025.
Technavio has segmented the music on demand market by end user (Individual users and Commercial users) ,type (Music streaming and Radio on demand) , and geographic (North America, Europe, APAC, South America, and MEA).
Alphabet Inc., Amazon.com Inc., Apple Inc., Canadian Broadcasting Corp., Gamma Gaana Ltd., Hungama Digital Media Entertainment Pvt. Ltd., iHeartMedia Inc., Mood Media Corp., SoundCloud Ltd., Spotify Technology SA are a few of the key vendors in the music on demand market.
North America will register the highest growth rate of 39.67% among the other regions. Therefore, the music on demand market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the music on demand market growth are:
  • Growth in mobile advertisement spending
The music on demand market vendors should focus on grabbing business opportunities from the individual users segment as it accounted for the largest market share in the base year.
  • What are the key global market and the regional market share?
  • What are the revenue-generating key market segments?
  • What are the key factors driving and challenging this market’s growth?
  • Who are the key market vendors and their growth strategies?
  • What are the latest trends influencing the growth of this market?
  • What are the variables influencing the market growth in the primary regions?
  • What are the factors influencing the growth of the parent market?
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  • Data on revenue-generating market segments
  • Details on the market shares of various regions
  • Five-force market analysis

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