Dublin, Aug. 09, 2024 (GLOBE NEWSWIRE) -- The "Stock Music - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Stock Music is estimated at US$1.5 Billion in 2023 and is projected to reach US$2.2 Billion by 2030, growing at a CAGR of 5.9% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
The growth in the stock music market is driven by several factors, including technological advancements in media production, increasing demand for cost-effective musical content, and shifts in consumer behavior towards digital media consumption. Technological factors such as the proliferation of high-quality, affordable recording and editing equipment have lowered barriers to entry for music production, resulting in a surge in the quantity and variety of music available in stock libraries.
Additionally, the rise of content creation across platforms like YouTube, TikTok, and podcasts has escalated demand for readily accessible music that can be quickly and legally integrated into multimedia projects. Consumer behavior has also evolved, with more creators and businesses recognizing the value of professional-grade audio in enhancing viewer engagement and project quality.
Furthermore, the integration of sophisticated search algorithms and AI-based recommendations in stock music platforms has made it easier for users to find the perfect tracks for their projects, thereby encouraging repeated use and loyalty to specific libraries. These dynamics illustrate a vibrant and growing industry that continues to adapt and thrive in the face of changing technological and market conditions.
Why You Should Buy This Report:
- Detailed Market Analysis: Access a thorough analysis of the Global Stock Music Market, covering all major geographic regions and market segments.
- Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
- Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Stock Music Market.
- Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Royalty-Free License Model segment, which is expected to reach US$1.3 Billion by 2030 with a CAGR of a 6.3%. The Rights Managed License Model segment is also set to grow at 5.3% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $403.4 Million in 2023, and China, forecasted to grow at an impressive 9.6% CAGR to reach $471.6 Million by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as 123RF Pte Ltd, Artlist International, Inc., Audio Network Limited, and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 173 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $1.5 Billion |
| Forecasted Market Value (USD) by 2030 | $2.2 Billion |
| Compound Annual Growth Rate | 5.9% |
| Regions Covered | Global |
MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Global Economic Update
- Stock Music - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
MARKET TRENDS & DRIVERS
- Expanding Role of Stock Music in Content Creation Drives Demand
- Growing Consumption of Digital Media Production Bodes Well for Stock Music Usage
- Growth in Podcasting and Video Content Spurs Market Opportunities
- Copyright and Licensing Issues Remain Central to Stock Music Growth
- Increasing Use of Stock Music in Advertising and Marketing
- Consumer Preferences Shifting Towards Royalty-Free Music
- Emergence of AI in Music Composition and Stock Libraries
- Economic Viability of Stock Music for Independent Creators
- Demand for Background Music Bodes Well for Market Growth
- Role of Stock Music in Corporate Training and E-Learning
FOCUS ON SELECT PLAYERS (Total 35 Featured)
- 123RF Pte Ltd
- Artlist International, Inc.
- Audio Network Limited
- BMG Production Music
- Dreamstime.com, LLC
- Earmotion Audio Creation GmbH
- Envato Elements Pty Ltd
- Epidemic Sound AB
- Getty Images, Inc.
- Marmoset LLC (Marmoset Music)
- Musicbed
- NEO Sounds Ltd.
- Pond5, Inc.
- Shutterstock, Inc
- Soundstripe Inc.
For more information about this report visit https://www.researchandmarkets.com/r/qw60iy
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