Latest News- Music On Demand Market: Music streaming is expected to lead the Type segment during 2025-2029

The Music On Demand Market is being driven by Growth in mobile advertisement spending

The Music On Demand Market is expected to grow at a CAGR of 17.9% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 72575.1 million. In the dynamic music industry, cloud computing has emerged as a significant trend in the music on demand market. This technology allows consumers to access legal online music content from remote servers, enhancing portability and convenience. Major players such as Apple, Google, and Amazon are capitalizing on this trend by offering cloud services as remote lockers for downloaded tracks. The shift from physical media and devices like iPods and music systems to cloud-based music streaming services is accelerating. Consummers can now store, download, stream, and share content on demand, making music more accessible and flexible than ever before. Cloud computing's ability to provide users with legal access to music, regardless of the device used, is a major draw for music companies, making it an essential component of their digital strategies. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Type
  • Music streaming
  • Radio on demand
• End-user
  • Individual users
  • Commercial users
• Method
  • Premium subscription
  • Ad-supported free model
• Content Type
  • Audio
  • Video
• Platform
  • Smartphones
  • PCs
  • Tablets
  • Smart TVs
  • Others
• Geography
  • North America
    • US
    • Canada
  • Europe
    • France
    • Germany
    • Italy
    • UK
  • 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: 

• Growth in mobile advertisement spending
• Surge in subscription-based services
• Bundled services provided by market players

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

• Free music access to users through modified apps
• Intense competition and unpredictability in user preferences
• Threat of piracy

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Market Scope in Music On Demand Market Research Report

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Research Analysis Overview

The Music On Demand market has revolutionized the way we consume music, with platforms like Radio, Music on Demand, and Ad-supported streaming services such as Apple Music and Spotify Premium leading the charge. These streaming subscriptions offer access to vast libraries of FLAC files and MP3s, allowing users to listen to their favorite tracks at their convenience. Connected devices, including smartphones and smart speakers, have made it easier than ever to access these services. AI-based models like MusicLM and browser-based platforms enable users to discover new music through personalized recommendations. The Music On Demand market is segmented into the Audio segment, which includes streaming subscriptions and digital downloads, and the Video segment, which includes OTT platforms with music content. The Live streaming segment and On-demand streaming segment are also significant parts of the market. Key players in the Music On Demand market include Spotify, Tencent Music Entertainment, and others. Machine Learning and Artificial Intelligence are being integrated into these services to enhance user experience and discovery. With the advent of 5G connectivity and the increasing popularity of smart devices, Music streaming services are expected to see significant growth in the coming years.

Market Research Overview

The global media and entertainment industry encompasses businesses specializing in the creation and distribution of content and information via proprietary platforms, generating substantial revenue through pay-per-click advertisements. This sector, often referred to as the interactive media and services market, comprises streaming services with expansive music libraries, enabling on-demand listening and personalized playlists. Companies in this market segment include major players offering audio streaming, search engines, social media, networking platforms, online classifieds, and review sites. According to Technavio, the global media and entertainment market is projected to expand at a moderate pace, driven by the increasing popularity of interactive content and the growing preference for on-demand services. 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/