World Digital Music Market to Gain Traction to 2020, States Daedal Research in Its New Research Report Now Available at MarketPublishers.com19 Sep 2016 • by Natalie Aster
LONDON – The world digital music market has been recording tremendous growth rates over the last few years and is expected to grow further through to 2020. The factors majorly contributing to the growth of the sector are soaring smartphone penetration worldwide specifically in developing countries, rising availability of inexpensive internet services, expansion of streaming media format, technology advances, change in consumer behaviour and desires to access latest music, among others.
In the offing, the market growth is forecast to be fuelled by the growing number of on-demand consumers, cooperation between music providers with social media platform, increasing number of catalogue software and blending of streaming music with wearable technology. Despite fast-paced growth, the market is still confronting a number of challenges that are hindering the market development. Challenges faced by the marketplace include dearth of unique services, legal complexity, rampant piracy, and fierce competition.
The USA is the world’s largest digital music market grabbing the highest revenue. Across the European region, Germany takes the lead.
New research report “Global Digital Music Market with Focus on Live Streaming: Size, Trends and Forecasts (2016-2020)” elaborated by Daedal Research examines the market on a global level.
The report casts light on the market size and growth, assesses the market based on value and market share by sources focusing on streaming music. It includes a granular overview of the streaming music market based on value, volume and market segment. The report also analyses consumer behaviour based on diverse parameters. The study gives a brief regional analysis of the digital music marketplace in the USA and Germany, presenting a detailed description of the two markets by volume, value and market share by segment. The research publication evaluates the key opportunities and canvasses the driving factors that are and will be responsible for the industry growth. The report projects the growth of digital music market to 2020, considering previous growth tempos, growth drivers and the current and oncoming trends. Additionally, the study examines the competitive landscape alongside giving a granular profiling of the top industry players such as Apple Inc., Deezer, Pandora Media Inc., and Spotify Limited.
Many other reports prepared by this publisher are available at Daedal Research page.