The Rising Adoption of Smart Devices to Foster the Global Online Music Streaming Market

The global online music streaming market is anticipated to grow at a considerable CAGR of 17.2% during the forecast period (2020-2026). The market growth is mainly attributed to the increasing smartphone penetration and the increasing adoption of smart devices across the globe. Some platforms are providing free services with ads or an option to choose a premium subscription, which is allowing users to switch to online streaming easily. In addition, promotional offers such as a discount on premium subscription and free monthly trials are also boosting the market growth. Likewise, the availability of regional content, as well as the increasing popularity of live streaming platforms, are also fuelling the market growth.

Browse the full report description of "Global Online Music Streaming Market Size, Share & Trends Analysis Report By Service (On-Demand Streaming and Live Streaming), By Content Type (Audio Streaming and Video Streaming), By Platform (Browser and Application), By End User (Residential & Commercial), By Revenue Model (Subscription & Advertisement) Forecast Period 2020-2026" at https://www.omrglobal.com/industry-reports/online-music-streaming-market

In 2020, the COVID-19 pandemic has also increased the demand for music streaming, as most countries have declared lockdowns (with different timeframes). This pushed people to opt for online streaming services for entertainment. According to the Chinese platform Tencent Music Entertainment (TME) group, its growth increased to around 70% in the first quarter of 2020 YoY basis. Further, the number of premium subscribers increased to 42.7 million.  

Market Coverage

• The market number available for – 2019-2026
• Base year- 2019
• Forecast period- 2020-2026
• Segment Covered- 

o By Service 

o By Content-Type 

o By Platform 

o By End-User

o By Revenue Model 

• Regions Covered-

 o North America

o Europe

o Asia-Pacific

o Rest of the World

• Competitive Landscape- Amazon.com, Inc., Apple, Inc., Google LLC., Spotify AB, Deezer

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How COVID-19 impacted the market?

o Deviation from the pre-COVID-19 forecast

o Most affected region and segment

• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Online Music Streaming Market Report Segment

By Service

• On-Demand streaming
• Live Streaming

By Content-Type

• Audio Streaming 
• Video Streaming

By Platform

• Browsers
• Applications

By End-User 

• Residential 
• Commercial

By Revenue Model

• Subscription
• Advertisement

Global Online Music Streaming Market Report Segment by Region

North America

• United States
• Canada

Europe

• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe 

Asia-Pacific

• China
• India
• Japan
• Rest of Asia-Pacific 

Rest of the World

• Latin America 
• Middle East & Africa

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