Music Streaming Application Market Key Insights, Profiling Companies based on their Financial

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Music Streaming Application Market by service type (Ad-supported and Subscriptionbased) and Region (North America, Europe, South America, and Middle East & Africa), Forecast 2018 to 2025 Single Use License: US$ +1 (214) 884-6068

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Music Streaming Application Market Size and Share 2025 • The global music streaming application market is anticipated to witness a steady growth rate in terms of subscribers and revenue. The global subscriber base is projected to reach 2.81 billion by the end of 2025 in the global music streaming application market. The market is primarily driven by technology developments that enabled digital music. The technology developments have allowed the providers of music streaming services to meet to emerging needs of the consumer. This is has led to an increased number of subscribers to the music streaming services driving the growth of the global music streaming application market.

• The market study allows us to understand various aspects of the music streaming industry by assessing the market using various regional trends, technological developments, and upcoming investments. The report on global music streaming application market covers several qualitative aspects of the market such as the drivers, restraints and key industry trends.

Further, the market study provides an in-depth analysis of the strategic framework of the players in the global music streaming application market.

• Music streaming has become one of the most popular methods consumers have chosen to listen to music. Convenience, unlimited access to larger catalog, on demand playlist are few the feature of music streaming application that has helped it gain tremendous traction in the music industry. Despite the gaining popularity among the consumers, players in the market are facing challenges such as limited end-user ability and low willingness to pay for the subscription-based service, especially in countries with low penetration of music streaming applications. Thus, players in the global music streaming application market are offering freemium services to boost its user base in the emerging markets. For instance, Spotify in February 2019, launched its freemium streaming services for the Indian market. Under this service, the user will have access to content for free but have to bear un-unskippable ads. +1 (214) 884-6068

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Music Streaming Application Market Size and Share 2025 • On the basis of service type, the global music streaming application market is segmented in subscription-based and adsupported based. An engaging user experience, superior functionality, exclusive access to content and value-added services are driving the growth of the subscription-based services in the global music streaming application market. By 2025, subscription-based services are projected to account ~80% share in revenue in the global music streaming application market.

• By geography, Asia Pacific is projected to grow at the fastest CAGR in terms of subscribers and revenue. Tailored music according to the local taste and content personalization coupled with increasing internet connectivity and smartphone penetration is driving the growth of the music streaming services in the Asia Pacific. Further, to boost the market growth player in the Asia Pacific are partnering with brands to offer innovative advertisements and with telecom, player to offer their services at affordable rates.

• Key players in the global music streaming application market are Spotify Limited, Apple Music, Pandora Media, Inc., Amazon Music, Deezer, Google Play Music, Tencent Music Entertainment Group, and YouTube Music. The global music streaming application market is consolidated as major players such as Spotify Limited and Apple Music capture more than half of the market share. Players in the market are partnering with the brand to deliver exclusive content for end users. For instance, in 2015, Spotify had partnered with Nike+ Running. The aim of the partnership was to build a game-changing experience by combing Nike+ Running App and music streaming services to deliver tailored music as motivational fuel for every run and for every runner.

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Music Streaming Application Market Size and Share 2025 • • • •

Key Segments of the Global Music Streaming Application Market Service Type Overview, 2015-2025 (USD Million) (Million Subscriber) Ad-Supported Subscription based

• Regional Overview, 2015-2025 (USD Million) (Million Subscriber)

• North America • • •

U.S. Canada Mexico

• Europe • • • • • •

Spain Germany France UK Netherland Rest of Europe

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Adroit Market Research is an India-based business analytics and consulting company. Our target audience is a wide range of corporations, manufacturing companies, product/technology development institutions and industry associations that require understanding of a market’s size, key trends, participants and future outlook of an industry. We intend to become our clients’ knowledge partner and provide them with valuable market insights to help create opportunities that increase their revenues. We follow a code– Explore, Learn and Transform. At our core, we are curious people who love to identify and understand industry patterns, create an insightful study around our findings and churn out money-making roadmaps. Our analysts have tracked high growth markets in chemicals & materials, healthcare & pharmaceuticals, semiconductor & electronics, energy & power, food & retail, consumer goods, technology, and machinery & equipment sectors across the world to identify new opportunities, potential customers, prepare go-to-market (GTM) strategies, identify segments for revenue growth for companies, and many more.

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