Cloud Music Services Market Report by Type (Cloud Music Download, Streaming Subscription, Ad-based Cloud Music Streaming), Application (Smartphones and Tablets, Cars, Stereo Systems, and Others), End Use (Individual Use, Commercial Use), and Region 2024-2032

Cloud Music Services Market Report by Type (Cloud Music Download, Streaming Subscription, Ad-based Cloud Music Streaming), Application (Smartphones and Tablets, Cars, Stereo Systems, and Others), End Use (Individual Use, Commercial Use), and Region 2024-2032

Report Format: PDF+Excel | Report ID: SR112024A5150
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Market Overview:

The global cloud music services market size is expected to exhibit a growth rate (CAGR) of 14.3% during 2024-2032.

Report Attribute 
Key Statistics
Base Year
2023
Forecast Years
2024-2032
Historical Years
2018-2023
Market Growth Rate (2024-2032) 14.3%


Cloud music services enable users to store and stream music by overcoming limitations imposed by the device storage space. They provide access to extensive libraries of audio samples, virtual studio technologies (VSTs), mixing tools, synthesizer presets, and partially or completed work for remixing. Besides this, as they also facilitate functions, such as sharing, backup, transfer of files between devices, and automated organization of records and metadata, the demand for cloud music services is rising across the globe.

 

 
 

 

Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.

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Cloud Music Services Market Trends:

There is presently a considerable growth in the number of individuals using cloud music services around the world. This, in confluence with the increasing sales of electronics, represents one of the key factors propelling the growth of the market. Moreover, there is a rise in the integration of data analytics systems in the music industry that enables streaming service providers to identify the music preferences of their customers and make recommendations accordingly. Besides this, cloud music services help users play music without the risk of legal infringement of rights or copyright litigation. This, coupled with technological advancements like 4G and 5G networks that offer high-speed access to cloud music services, is positively influencing the market. Apart from this, key players are focusing on strategic developments, partnerships with domestic players, aggressive promotional activities, geographical expansions, and mergers and acquisitions (M&A) to expand their consumer base. They are also financing research and development (R&D) activities to increase their overall sales and profitability. Furthermore, rapid digitalization and the increasing reliance on smartphones, tablets, and portable music players worldwide, are projected to facilitate the growth of the market in the upcoming years.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global cloud music services market report, along with forecasts at the global, regional and country levels from 2024-2032. Our report has categorized the market based on type, application and end use.

Breakup by Type:

 

 
 

 

Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.

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  • Cloud Music Download
  • Streaming Subscription
  • Ad-based Cloud Music Streaming
     

Breakup by Application:

  • Smartphones and Tablets
  • Cars
  • Stereo Systems
  • Others
     

Breakup by End Use:

  • Individual Use
  • Commercial Use
     

Breakup by Region:

 

 
 

 

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  • North America
    • United States
    • Canada
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Amazon.com Inc., Apple Inc., Deezer, Gamma Gaana Ltd. (Times Internet), NetEase Inc., Pandora Media LLC (Sirius XM Holdings), Rhapsody International Inc. (RealNetworks Inc.), Saavn Media Pvt Ltd, Spotify AB and YouTube Music (Google LLC).

Report Coverage:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Million
Segment Coverage Type, Application, End Use, Region
Region Covered Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Amazon.com Inc., Apple Inc., Deezer, Gamma Gaana Ltd. (Times Internet), NetEase Inc., Pandora Media LLC (Sirius XM Holdings), Rhapsody International Inc. (RealNetworks Inc.), Saavn Media Pvt Ltd, Spotify AB and YouTube Music (Google LLC).
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Key Questions Answered in This Report

We expect the global cloud music services market to exhibit a CAGR of 14.3% during 2024-2032.

The expanding technological advancements, such as 4G and 5G networks, along with the rising adoption of cloud music services to share, backup, transfer of files between devices, and automate organization of records and metadata, are primarily driving the global cloud music services market.

The sudden outbreak of the COVID-19 pandemic has led to the growing deployment of cloud music services to store and stream music through Virtual Studio Technologies (VSTs) remotely, during the lockdown scenario.

Based on the type, the global cloud music services market can be segmented into cloud music download, streaming subscription, and ad-based cloud music streaming. Currently, cloud music download accounts for the majority of the total market share.

Based on the application, the global cloud music services market has been divided smartphones and tablets, cars, stereo systems, and others. Among these, smartphones and tablets currently exhibit a clear dominance in the market

Based on the end use, the global cloud music services market can be categorized into individual use and commercial use. Currently, the commercial use holds the largest market share.

On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.

Some of the major players in the global cloud music services market include Amazon.com Inc., Apple Inc., Deezer, Gamma Gaana Ltd. (Times Internet), NetEase Inc., Pandora Media LLC (Sirius XM Holdings), Rhapsody International Inc. (RealNetworks Inc.), Saavn Media Pvt Ltd, Spotify AB, and YouTube Music (Google LLC).

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Cloud Music Services Market Report by Type (Cloud Music Download, Streaming Subscription, Ad-based Cloud Music Streaming), Application (Smartphones and Tablets, Cars, Stereo Systems, and Others), End Use (Individual Use, Commercial Use), and Region 2024-2032
Purchase Options Year End sale




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