The Asia-Pacific online music streaming market is anticipated to grow at a considerable CAGR of 18.2% during the forecast period. The primary factor assisting the growth of the market in the region is increasing smartphone & internet penetration and rising disposable income. Further, the growth of the market can be attributed to the rising number of digital platforms and the growing adoption of smart devices. In 2020, various countries across the region announced lockdowns to contain the spread of the COVID-19 pandemic which further augmented 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. These platforms offer users accurate song recommendation, playlist customization, and hassle-free accessibility on browsers as well as on propelling the market growth.
The Asia-Pacific 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 mobile-based applications for online music streaming. Further, based on end-users the market is segmented into residential and commercial.
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Asia-Pacific Online Music Streaming Market by Service
- On-Demand Streaming
- Live Streaming
By Content Type
- Audio Streaming
- Video Streaming
By Platform
- Browser
- Application
By End-User
- Residential
- Commercial
By Revenue Model
- Subscription
- Advertisement
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Regional Analysis
- China
- Japan
- India
- Rest of Asia-Pacific
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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