The Asia-Pacific online music streaming market is anticipated to grow at a considerable CAGR of 18.2% during the forecast period. The primary factors assisting the market growth are rising smartphone & internet penetration and the increasing adoption of smart devices in the region. Asia-Pacific is one of the regions with the rising number of new music streaming platforms, giving the users the to choose the best platform as per their requirement. For Instance, in March 2020, the Chinese firm ByteDance Ltd. launched its music streaming platform Resso in India and Indonesia.
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Further, 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. In addition, promotional offers such as a discount on premium subscription and free monthly trials are also boosting the market demand. In 2020, the COVID-19 pandemic has positively impacted the market, as most countries have declared lockdowns, which compelled people to use online streaming for entertainment. Moreover, the availability of regional content, as well as the increasing popularity of live streaming platforms, are also fuelling the market growth.
Market Coverage
- The market number available for – 2019-2026
- Base year- 2019
- Forecast period- 2020-2026
- Segment Covered
- By Service
- By Content-Type
- By Platform
- By End-User
- By Revenue Model
- Regions Covered- Asia-Pacific
- Competitive Landscape- Amazon.com, Inc., Apple, Inc., Google LLC., Spotify AB, Tencent Holdings Ltd.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and country dominate the market in the base year?
- Which segment and country will project the fastest growth in the market?
- How COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- 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?
Asia-Pacific 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
A full report of Asia-Pacific Online Music Streaming Market is available at: https://www.omrglobal.com/industry-reports/asia-pacific-online-music-streaming-market
Company Profiles
- com, Inc.
- Apple, Inc.
- Deezer SA
- Gamma Ganaa Ltd.
- Genie Music Co., Ltd
- Google LLC
- JOOX (Tencent Holdings Ltd.)
- Melon (Kakao Co., Ltd.)
- Saavn Media Pvt Ltd.
- SoundCloud Ltd.
- Spotify AB
- Yandex NV
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