Music Streaming Global Market Report 2023 – Market Size, Trends, And Forecast 2023-2027

The Business Research Company’s Music Streaming Global Market Report 2023 – Market Size, Trends, And Forecast 2023-2027

LONDON, GREATER LONDON, UK, November 13, 2023 /EINPresswire.com/ -- The global music streaming market soared from $27.29 billion in 2022 to $30.99 billion in 2023 at a 13.5% compound annual growth rate (CAGR). Despite the disruptions stemming from the Russia-Ukraine conflict and the residual impacts of the COVID-19 pandemic, the market is primed for further expansion. Projections indicate an impressive ascent to $52.47 billion by 2027, representing a CAGR of 14.1%.

Driver: Tune in to the Smart Device Revolution

The mounting adoption of smart devices, such as smartphones and smart speakers, is reshaping the landscape of the music streaming market. These devices offer an array of functionalities, including voice-command music playback, seamless streaming, and integration with smart home devices, delivering an enriched and personalized listening experience. Notably, the surge in sales of Amazon Echo speakers, rising from 53.6 million in 2020 to 65 million in 2021, underscores the pivotal role of smart devices in propelling the growth of the market.

Explore comprehensive insights of the global music streaming market with a detailed sample report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=6786&type=smp

Players: Key Players Setting the Rhythm

Major players in the music streaming market include Amazon, Apple, Spotify, Gaana, SoundCloud, YouTube Music, Tidal, Deezer, Pandora, Sirius XM Holdings, iHeartRadio, Aspiro, Tencent Music Entertainment, Google, Idagio, LiveXLive, QTRAX, Saavn, Samsung, Sony Corporation, TuneIn, JOOX, NetEase, Kakao, and Times Internet.

Trends: Tune into the AI and ML Beat

Artificial intelligence and machine learning are at the forefront of trends in the music streaming market. These technologies elevate the music streaming experience by optimizing storage and refining search recommendations, thereby enhancing the overall user experience. For instance, Gaana, an India-based music streaming app, introduced a novel feature in January 2022, utilizing artificial intelligence to customize music preferences based on specific moods or occasions.

Segments: Unveiling the Melodic Segments

The global lobal music streaming market is segmented by:

• Service: On-Demand Streaming, Live Streaming
• Content: Audio, Video
• Platform: Application-Based, Web-Based
• Revenue Channels: Non-Subscription, Subscription
• End-Use: Individual, Commercial

Region: A Global Symphony

North America seized the largest share of the music streaming market in 2022. The regions covered in the global market analysis report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

Access the complete report for an in-depth analysis of the global music streaming market:
https://www.thebusinessresearchcompany.com/report/music-streaming-global-market-report

Music Streaming Global Market Report 2023 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.

The Music Streaming Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on music streaming market size, music streaming market drivers and trends, music streaming market major players, competitors' revenues, market positioning, and market growth across geographies. The music streaming market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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