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. AI specifically offers significant potential for enhancing video quality and streaming, creating lucrative growth opportunities for online music and video streaming service providers. AI applications span across cinematography, editing, voice-overs, scriptwriting, and various aspects of video production. Leading service providers are already utilizing AI to optimize their content offerings. Furthermore, the unrelenting popularity of online streaming platforms like Hulu and YouTube is fueling the adoption of AI technology. Notably, AI can detect and remove offensive content from videos autonomously, enhancing user experience and maintaining content standards. 

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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

In the Music and Video Market, high-fidelity audio and lossless audio are prioritized through advanced audio codecs. Video is optimized using video codecs, streaming protocols, and content delivery networks, including cloud storage. Recommendation engines personalize music and video suggestions, while social media integration, sharing platforms, and live streaming foster fan engagement. Brands and artists collaborate through influencer marketing, brand partnerships, licensing agreements, and royalty collection. Production companies offer music and video production services, post-production, music composition, film scoring, sound design, and education programs.

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's market analysis, the market size is determined by the consolidated revenue generated by manufacturers of household durables, including 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. Primarily, the surge in subscription-based streaming services for music and video, including digital music distribution and digital video distribution, has led to an increase in on-demand content consumption. Furthermore, the adoption of subscription models in music licensing has facilitated easier access to a vast library of music for consumers. Another significant factor driving market growth is the growing trend towards health and fitness, evidenced by the increasing memberships in health and fitness clubs.. 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/