Cloud Music Services Market by Types (Subscription, Mobile, Download, and Ad-based Streaming), Locations (Entertainment, Commercial, and Others), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa)–Global Industry Analysis, Growth, Shares, Size, Trends, and Forecast 2021 – 2028
The cloud music services market size is anticipated to expand at a significant CAGR during the forecast period 2021–2028. Growth of the market is attributed to growing penetration & coverage in music sector, rapidly emerging economies, increasing overall efficiency & productivity for enterprises, and rising number of paid subscriptions.
The music is streamed to multiple devices by storing the user's music collection to save local storage space in the cloud. In the freemium model additional storage is used by paying some amount & certain amount of storage is free to use without paying. Google Play Music, Amazon Music, and Apple's iTunes Match are three large services.
The COVID-19 pandemic has disturbed many sectors on an exceptional ratio. However, cloud music services sector has emerged strong from this incident. While many other sectors are finding it hard to run easily, the companies that selected cloud music services infrastructure are operating fine. Launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth over the forecast period.
Market Trends, Drivers, Restraints, and Opportunities
- Increasing access to advanced technologies is projected to boost the market.
- Rising adaption of cloud music services in the commercial sector is the major factor fueling the market.
- Weak collaboration among enterprises is projected to restrict the market expansion during the forecast period.
- Lack of awareness about cloud music services is anticipated to hamper the market growth in the coming years.
- R&D investment and technological advancement in cloud music services market is projected to offer lucrative opportunities for the market players.
Scope of the Report
The report on the cloud music services market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes |
Details |
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Report Title |
Cloud Music Services Market–Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2020 |
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Historic Data |
2018-2019 |
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Forecast Period |
2021-2028 |
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Segmentation |
Types (Subscription, Mobile, Download, and Ad-based Streaming), Locations (Entertainment, Commercial, and Others) |
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Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
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Key Players covered in the Report |
Deezer SA; ASPIRO AB; Pandora Media Inc.; Google LLC; Apple Inc.; Times Internet; Spotify AB; Saavn Media Pvt Ltd; Amzon.com Inc.; Rdio Inc.; Microsoft Corp.; Samsung Music Hub; Gaana.com; Beats Electronics LLC; My Space LLC; Grooveshark; and NetEase Inc. |
Market Segment Insights
The mobile segment accounts for a key share of the market and expected to grow at a rapid pace
Based on types, the cloud music services market is fragmented into subscription, mobile, download, and ad-based streaming. The mobile segment accounts for a key share of the market. Growth of the market is attributed to growing penetration of the internet, up to date services to customers, and rapid development in Spotify & Apple services. However, the subscription segment is anticipated to expand at a rapid pace during the forecast period due to factors such as growing number of tablets, rapidly changing behaviors of music listeners, and growing population.
The commercial segment accounts for a significant share of the market
On the basis of locations, the market is segmented into entertainment, commercial, and others. The commercial segment accounts for a key share of the market. Growth of the market is attributed to increasing research & development activities in cloud music services and rapid urbanization. The entertainment segment is anticipated to expand at a rapid pace during the forecast period due to factors such as rising trend of cloud music services in online platform, minimum capital investment, and digital transformation.
North America is anticipated to hold major market share
On the basis of region, the cloud music services market is categorized as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market of Asia Pacific is estimated to expand at a high CAGR during the forecast period due to increasing industrialization, rising per capita income, and presence of major market players in the region. The market of North America is estimated to hold major market share due to increasing number of music listeners, rapid adoption of technological advanced services, rising consumption of cloud music services, and increasing overall efficiency & productivity for enterprises.
2. Assumptions and Acronyms Used
3. Research Methodology
4. Cloud Music Services Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Cloud Music Services Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Cloud Music Services Market - Supply Chain
4.5. Global Cloud Music Services Market Forecast
4.5.1. Cloud Music Services Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Cloud Music Services Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Cloud Music Services Market Absolute $ Opportunity
5. Global Cloud Music Services Market Analysis and Forecast by Region
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Region
5.2.2. Y-o-Y Growth Projections by Region
5.3. Cloud Music Services Market Size and Volume Forecast by Region
5.3.1. North America
5.3.2. Latin America
5.3.3. Europe
5.3.4. Asia Pacific
5.3.5. Middle East and Africa (MEA)
5.4. Absolute $ Opportunity Assessment by Region
5.5. Market Attractiveness/Growth Potential Analysis by Region
5.6. Global Cloud Music Services Demand Share Forecast, 2019-2026
6. North America Cloud Music Services Market Analysis and Forecast
6.1. Introduction
6.1.1. Basis Point Share (BPS) Analysis by Country
6.1.2. Y-o-Y Growth Projections by Country
6.2. North America Cloud Music Services Market Size and Volume Forecast by Country
6.2.1. U.S.
6.2.2. Canada
6.3. Absolute $ Opportunity Assessment by Country
6.4. Market Attractiveness/Growth Potential Analysis
6.4.1. By Country
6.4.2. By Product Type
6.4.3. By Application
6.5. North America Cloud Music Services Demand Share Forecast, 2019-2026
7. Latin America Cloud Music Services Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.1.3. Latin America Average Pricing Analysis
7.2. Latin America Cloud Music Services Market Size and Volume Forecast by Country
7.2.1. Brazil
7.2.2. Mexico
7.2.3. Rest of Latin America
7.3. Absolute $ Opportunity Assessment by Country
7.4. Market Attractiveness/Growth Potential Analysis
7.4.1. By Country
7.4.2. By Product Type
7.4.3. By Application
7.5. Latin America Cloud Music Services Demand Share Forecast, 2019-2026
8. Europe Cloud Music Services Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Europe Average Pricing Analysis
8.2. Europe Cloud Music Services Market Size and Volume Forecast by Country
8.2.1. Germany
8.2.2. France
8.2.3. Italy
8.2.4. U.K.
8.2.5. Spain
8.2.6. Russia
8.2.7. Rest of Europe
8.3. Absolute $ Opportunity Assessment by Country
8.4. Market Attractiveness/Growth Potential Analysis
8.4.1. By Country
8.4.2. By Product Type
8.4.3. By Application
8.5. Europe Cloud Music Services Demand Share Forecast, 2019-2026
9. Asia Pacific Cloud Music Services Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Asia Pacific Average Pricing Analysis
9.2. Asia Pacific Cloud Music Services Market Size and Volume Forecast by Country
9.2.1. China
9.2.2. Japan
9.2.3. South Korea
9.2.4. India
9.2.5. Australia
9.2.6. Rest of Asia Pacific (APAC)
9.3. Absolute $ Opportunity Assessment by Country
9.4. Market Attractiveness/Growth Potential Analysis
9.4.1. By Country
9.4.2. By Product Type
9.4.3. By Application
9.5. Asia Pacific Cloud Music Services Demand Share Forecast, 2019-2026
10. Middle East & Africa Cloud Music Services Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Middle East & Africa Average Pricing Analysis
10.2. Middle East & Africa Cloud Music Services Market Size and Volume Forecast by Country
10.2.1. Saudi Arabia
10.2.2. South Africa
10.2.3. UAE
10.2.4. Rest of Middle East & Africa (MEA)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Market Attractiveness/Growth Potential Analysis
10.4.1. By Country
10.4.2. By Product Type
10.4.3. By Application
10.5. Middle East & Africa Cloud Music Services Demand Share Forecast, 2019-2026
11. Competition Landscape
11.1. Global Cloud Music Services Market: Market Share Analysis
11.2. Cloud Music Services Distributors and Customers
11.3. Cloud Music Services Market: Competitive Dashboard
11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
11.4.1. Deezer SA ASPIRO AB Pandora Media Inc. Google LLC Apple Inc. Times Internet