Music Streaming Market to Reach USD 24.42 Billion at a CAGR of 14.83% by 2025

The music streaming market is expected to reach USD 24.42 billion at a Compound Annual Growth Rate (CAGR) of 14.83% by 2025, driven by the increase in mobile advertisement spending and the growing use of broadband infrastructure and mobile devices globally. The market is segmented by end-user, type, and geography, with individual consumers expected to have a large proportion of the global music streaming market.

Key Takeaways:

• The market is expected to reach USD 24.42 billion at a CAGR of 14.83% by 2025.
• The market is segmented by end-user, with individual consumers expected to have a large proportion of the global music streaming market.
• The market is driven by the increase in mobile advertisement spending and the growing use of broadband infrastructure and mobile devices globally.
• The market is expected to grow at a faster rate in North America, with the US, China, UK, Germany, and Japan contributing to the highest market growth.
• The market is expected to remain fragmented during the forecast period, with vendors deploying different organic and inorganic growth strategies to compete.

Statistics:

• Market growth: USD 24.42 billion
• CAGR: 14.83%
• Segment growth:

* Individual users: 56.31%

* Commercial users: 43.69%

• Regional market share:

* North America: 44%

* Europe: 26%

* APAC: 23%

* South America: 5%

* MEA: 3%

Sources:

• "Music Streaming Market Size, Share, Trends, Growth, Opportunities and Forecast 2020-2025" market research report by Technavio (2020)

This market research provides a comprehensive analysis of the music streaming market, including its size, share, trends, growth, opportunities, and forecast for 2020-2025. The report covers key vendors in the market, including Alphabet Inc., Apple Inc., Comcast Corp., Deezer SA, iHeartMedia Inc., Microsoft Corp., Samsung Electronics Co. Ltd., Sirius XM Holdings Inc., Sony Corp., and Spotify Technology SA.