Latest News- Music And Video Market: Digital is expected to lead the Platform segment during 2025-2029

The Music And Video Market is being driven by Rising Internet and smartphone penetrations

The Music And Video Market is expected to grow at a CAGR of 31.4% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 1202.1 billion. Advanced technologies, including artificial intelligence (AI), deep learning, natural language processing, and blockchain, are poised to revolutionize the music and video market by enhancing video quality and streaming capabilities. AI plays a pivotal role in various aspects of video production, such as cinematography, editing, voice-overs, scriptwriting, and content moderation. Service providers like Hulu and YouTube, which enjoy increasing popularity, leverage AI to deliver superior content to their subscribers. AI technology's ability to identify patterns in offensive content and take remedial action autonomously further underscores its significance in the industry. These advancements present significant growth opportunities for online music and video streaming service providers. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Platform
  • Digital
  • Physical
• Type
  • Video
  • Music
• End-user
  • Individual users
  • Commercial users
  • Others
• Geography
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Rising Internet and smartphone penetrations
• Rising popularity of online video streaming services
• Launch of new content on online streaming apps

However, the market also witnesses some limitations, which are as follows:

• Video piracy issues and illegal downloading of music tracks
• Increasing threat from hacking
• Decrease in sales of music and video content available in physical format

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Market Scope in Music And Video Market Research Report

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Research Analysis Overview

The Music and Video Market encompasses various elements, including high-fidelity audio and lossless audio, which require advanced audio codecs. Video codecs, streaming protocols, and content delivery networks ensure seamless delivery of music and video content. Recommendation engines for music and videos, social media integration, and sharing platforms enhance user experience. Live streaming, interactive gaming, virtual events, and fan engagement boost audience engagement. Artist promotion, music marketing, and video marketing strategies leverage influencer marketing, brand partnerships, and licensing agreements. Royalty collection, music publishing, synchronization, and soundtrack licensing ensure fair compensation. Production services, education programs, and editing courses complete the ecosystem.

Market Research Overview

The global leisure products market encompasses sectors such as sports equipment, musical instruments, camping equipment, recreational vehicles, bicycles, toys, and other consumer-focused games. According to Technavio, the market size is determined by the consolidated revenue generated by manufacturers of household durables, which include consumer electronics, home furnishings, homebuilding products, household appliances, houseware and specialties, and leisure products. The expansion of the global leisure products market is influenced by several key factors. One significant driver is the surge in music streaming and video streaming subscriptions, fueled by the increasing popularity of on-demand content and subscription models. Additionally, the music and video industries continue to evolve with digital distribution and licensing becoming increasingly prevalent. Another influential factor is the growing trend of health and fitness, as indicated by the rising memberships in fitness clubs, which has led to an increase in the number of health and fitness clubs worldwide.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/