Music Market and Streaming Services Market Globally Expected to Drive Growth Through 2025

Global Music market and streaming services are becoming more dynamic owing to increased inclination of consumers towards such services. The increasing up-gradation in the technology is anticipated to increase the demand of music streaming among the smartphone users over the forecasted period. Music market and streaming services market is expected to show significant growth due to the streaming of songs through audio and video platforms. However, market of physical album is expected to decline relatively. Global music market is consolidated market with various companies undergoing mergers and acquisitions, partnerships and strategic alliances in order to increase their market share.

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Music Market and Streaming Services Segmentation

Global music market is segmented into digital downloads, physical, streaming, synchronization and ringtones. Digital download is the largest market segment in terms of revenue, followed by the streaming. Furthermore, streaming services are segmented into sound exchange distributions, on demand ad-supporting services and subscription services. Music market and streaming services are further segmented on the basis of region as North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Japan and Middle East and Africa. In North America, U.S contributes the maximum revenue in terms of revenue contribution, Also, European region is expected to reflect a significant growth during the forecast period. However the global music market is expected to lose significant portion of its revenue due to the piracy in the near future. Accordingly government across various countries have taken several initiatives to curb piracy. For instance, U.S. possess copyright alert systems that keep check on piracy. In Europe service providers have blocked the access to the pirate bay.