Dublin, Aug. 18, 2021 (GLOBE NEWSWIRE) -- The "Cloud Music Streaming - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Cloud Music Streaming Market to Reach $27 Billion by 2027
Amid the COVID-19 crisis, the global market for Cloud Music Streaming estimated at US$10.3 Billion in the year 2020, is projected to reach a revised size of US$27 Billion by 2027, growing at a CAGR of 14.8% over the period 2020-2027.
Individual, one of the segments analyzed in the report, is projected to record 15.5% CAGR and reach US$21 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Commercial segment is readjusted to a revised 12.8% CAGR for the next 7-year period.
The U.S. Market is Estimated at $2.8 Billion, While China is Forecast to Grow at 19.4% CAGR
The Cloud Music Streaming market in the U.S. is estimated at US$2.8 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$6.2 Billion by the year 2027 trailing a CAGR of 19.4% over the analysis period 2020 to 2027.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 10.5% and 13.1% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 11.7% CAGR.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Cloud as a Platform for Entertainment: A Peek Into the Many Faces of the Cloud
- Recent Market Activity
- Cloud Music: A Lucrative Game Changer in the Entertainment Industry
- Cloud Music Platform: A Saving Grace for the Music Industry Ravaged by Declining Sales of Physical Albums
- Market Outlook
- Impact of Covid-19 and a Looming Global Recession
2. FOCUS ON SELECT PLAYERS (Total 29 Featured)
- Amazon.com, Inc. (USA)
- Apple Inc. (USA)
- Deezer (France)
- Google Inc. (USA)
- YouTube, LLC (USA)
- YouTube Red
- KKBOX, Inc. (Taiwan)
- Microsoft Corp. (USA)
- Napster (USA)
- Pandora Media, Inc. (USA)
- Saavn, LLC (USA)
- SoundCloud Limited (Germany)
- Spotify Ltd. (UK)
- Tencent Holdings Ltd. (China)
- Tencent Music Entertainment Group
- Tidal (USA)
3. MARKET TRENDS & DRIVERS
- Rise of the On-Demand Economy to Accelerate Growth of On-Demand Streaming Services
- High-Speed Internet Penetration & Bandwidth Expansion Provide the Foundation for Growth of Cloud Music
- Since Cloud Music Experiences are only as good as the Network, Developments in Internet Architecture are Crucial for Future Growth & Proliferation
- Growing Investments in 4G/LTE & 5G to Strengthen the Robustness of Cloud Music
- Favorable Smartphone Usage Patterns for Entertainment Supports Growth in the Market II-11 Portable Music Revolution Is Here!
- Development of Cloud Storage and Backup, Primes the Music Audience for the Cloud Era
- Highly Engaged with Music, Young Consumers Emerge as a Lucrative Customer Cluster
- Service Providers Get Ready to Engage With the "Streaming First" Generation
- Developing Countries Emerge as Hotspots for Future Growth
- Multiple Business Models Compete for Customer Acquisition
- The Rising Tide of Streaming Raises All Boats
- Service Providers Focus on "Lean Back Listeners" to Drive New Revenue Growth
- Cloud Music Services Enable Piracy Reduction
- Music Licensing Costs Rise for Streaming Service Providers
- Licensing Costs for Select Streaming Services
- Curation and Recommendations Emerge as Key Service Differentiators
- Ability to Discover Music: A Growing Area of Focus to Gain Competitive Edge
- Social Media Music: A New Channel for Streaming Services to Reach Out to Consumers
- Cloud Music Shows the Promise of Addressing the Value Gap Issue in the Music Industry
- Devices Used to Listen to Streaming Music Shapes the Technological Landscape
- Cloud Music Streaming on Wearable Devices Catches Fire
- TomTom Spark 3 Cardio + Music
- Apple Watch Nike+
- Samsung Gear S3
- Polar M600
- New Balance RunIQ
- LG Watch Sport
- Moto 360 Sport
- In-Car Music Streaming Gathers Momentum
- Competition: A Review
- Heavy Consolidation Activity During the Years 2013 to 2016
- List of Music Streaming Services Shuttered/Acquired: 2013-2016
4. GLOBAL MARKET PERSPECTIVE
- World Current & Future Analysis for Cloud Music Streaming by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR
- World 7-Year Perspective for Cloud Music Streaming by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets for Years 2020 & 2027
- World Current & Future Analysis for Individual by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR
- World 7-Year Perspective for Individual by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2020 & 2027
- World Current & Future Analysis for Commercial by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR
- World 7-Year Perspective for Commercial by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2020 & 2027
III. MARKET ANALYSIS
IV. COMPETITION
- Total Companies Profiled: 29
For more information about this report visit https://www.researchandmarkets.com/r/6qfktf
