The Indian online music streaming market is anticipated to grow at a lucrative CAGR of 19.1% during the forecast period. The primary factor assisting the growth of the market include increasing smartphone, internet penetration, and rising disposable income in the country. Moreover, in March 2020, the country announced the largest lockdown globally to contain the spread of the COVID-19 pandemic, which indirectly increased the demand for online music streaming. Further, the rise in the number of streaming service providers has also assisted in attracting customers by providing promotional offers and free trials.

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The Indian online music streaming market is segmented based on service, content type, platform, end-user, and revenue model. Based on the service, the market is sub-segmented into on-demand online music streaming and live online music streaming. Based on the content type, the market is bifurcated into audio streaming and video streaming. Based on the platform the market is segmented into browsers and applications dry online music streaming. Application-based music streaming will offer significant growth during the forecast period. Further, based on end-users the market is segmented into residential and commercial.

The key players of the Indian online music streaming market include Saavn Media Pvt Ltd., Gamma Ganaa Ltd., Google LLC., Hungama Digital Media Entertainment Pvt. Ltd., Amazon.com, Inc., Apple, Inc., Airtel Digital Ltd., SoundCloud Limited, and Spotify AB. Owing to increasing competition in the market, the players in the market adopting various strategies such as mergers and acquisitions and partnership and collaboration that tend to fuel market growth in the near future. For instance, in April 2019, Reliance Jio, the parent company of Saavn Media bought Haptik and an artificial intelligence company. With this acquisition, the company will use an AI solution for its music streaming service. It will give users a better user experience and will strengthen the company’s foothold in the market.

Research Methodology

The market study of the Indian online music streaming market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market into various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. The analysts try to contact as many executives, managers, key opinion leaders, and industry experts to bring more authenticity to reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.

The report is intended for digital media companies, music companies, software companies, seed funders, venture capitalists, start-ups, research organizations, and other related organizations for overall market analysis and competitive analysis. The report provides an in-depth analysis of market size, products offered by the companies, and future market opportunities. The report will serve as a source for a 360-degree analysis of the market thoroughly delivering insights into the market for making better business decisions.

Market Segmentation

1. Indian Online Music Streaming Market Research and Analysis by Service
2. Indian Online Music Streaming Market Research and Analysis by Content-Type
3. Indian Online Music Streaming Market Research and Analysis by Platform
4. Indian Online Music Streaming Market Research and Analysis by End-User
5. Indian Online Music Streaming Market Research and Analysis by Revenue Model

The Report Covers

• Comprehensive research methodology of the Indian online music streaming market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the Indian online music streaming industry.
• Insights about market determinants that are stimulating the Indian online music streaming market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.