Global Online Music Streaming Market Is Likely to Experience a Tremendous Growth by 2028

The online music streaming market is anticipated to register a significant growth of CAGR of 17.2% during the forecast period. The music streaming platforms provides a huge library of albums, podcasts, and songs that can be played by a user at any place over the internet. This gives ease of usage to the user which is one of the most crucial driving factors. The rising number of digital platforms and the growing adoption of smart devices is expected to drive the market. These platforms use AI & ML to provide users with accurate song recommendation, playlist customization, and hassle-free accessibility on browsers as well as on mobile applications, hence fueling the market growth. For instance, a French music streaming platform Deezer is offering an engrossing music experience using AR (Augmented reality) to the users, leveraging a specially created Snapchat lens.

Get Free Sample link @ https://www.omrglobal.com/request-sample/online-music-streaming-market

Most 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. Promotional offers such as discounts on premium subscription and free monthly trials are also boosting the market growth. Further, increasing smartphone penetration across the globe and the rise in the number of service providers are positively impacting the online music streaming market. Recently, most countries affected by COVID-19 has declared lockdowns to stop the spread of the virus. This move resulted in a rise in the number of users opting for online streaming services. For instance, Tencent Music Entertainment (TME) group a China-based streaming platform released its revenue, where the year-over-year growth of revenue for online music subscriptions increased by 70.0% in the first quarter of 2020. In addition, the number of online music premium subscribers reached 42.7 million. Moreover, the availability of regional content and the rising popularity of live streaming platforms are also providing a significant opportunity for market growth.

A full report of Global Online Music Streaming Market available @ https://www.omrglobal.com/industry-reports/online-music-streaming-market

  • Market Coverage
  • Market number available for – 2022-2028
  • Base year- 2021
  • Forecast period- 2022-2028
  • Segment Covered- By Source, By Product Type, By Applications
  • Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill Inc., and others

Market Segmentation

Global Online Music Streaming Market by Service

  • On-Demand Streaming
  • Live Streaming

Global Online Music Streaming Market by Content-Type

  • Audio Streaming
  • Video Streaming

Global Online Music Streaming Market by Platform

  • Browser
  • Application

Global Online Music Streaming Market by End-User

  • Residential
  • Commercial

Global Online Music Streaming Market by Revenue Model 

  • Subscription
  • Advertisement

Regional Analysis

  • North America
  • United States
  • Canada
  • Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Rest of Europe
  • Asia-Pacific
  • China
  • India
  • Japan
  • Rest of Asia-Pacific
  • Rest of the World

Company Profiles 

  • com, Inc.
  • Apple, Inc.
  • Deezer SA
  • Gamma Gaana Ltd.
  • Genie Music Co., Ltd.
  • Google LLC
  • iHeartMedia Inc.
  • Jango, Inc.
  • JOOX (Tencent Holdings Ltd.)
  • LiveXLive, Corp.
  • Melon (Kakao Co., Ltd.)
  • Musixmatch
  • Pandora Media, Inc.
  • Saavn Media Pvt Ltd.
  • SoundCloud Ltd.
  • Spotify AB
  • Superplayer & Co.
  • Tidal (Aspiro AB)
  • Yandex NV
  • Xandrie SA

The Report Covers

  • Market value data analysis of 2019 and forecast to 2026.
  • Annualized market revenues ($ million) for each market segment.
  • Country-wise analysis of major geographical regions.
  • Key companies operating in the global online music streaming market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
  • Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
  • Analysis of market-entry and market expansion strategies.
  • Competitive strategies by identifying ‘who-stands-where’ in the market.

For More Customized Data, Request for Report Customization @ https://www.omrglobal.com/report-customization/online-music-streaming-market

About Orion Market Research

Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services.

Media Contact:

Company Name: Orion Market Research

Contact Person: Mr. Anurag Tiwari

Email: info@omrglobal.com

Contact no: +91 780-304-0404