Music market to grow by USD 50.46 Bn by 2026, Increasing adoption of digital music to boost market growth - Technavio

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Oct 11, 2022, 06:30 ET

NEW YORK, Oct. 11, 2022 /PRNewswire/ -- The music market is expected to grow by USD 50.46 billion during 2021-2026, at a CAGR of 11.84% during the forecast period. The market is driven by the Increasing adoption of digital music. In addition, the Increase in mergers and acquisitions and strategic alliances among vendors and the entry of new players is anticipated to boost the growth of the Music Market.

Technavio has announced its latest market research report titled Global Music Market 2022-2026

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Alphabet Inc., Amazon.com Inc., Apple Inc., Aspiro AB, Bertelsmann SE, and Co. KGaA, Deezer SA, Kobalt Music Group Ltd., NORTHERN MUSIC Co. Ltd., Pioneer Music Co., Sirius XM Holdings Inc., Sony Group Corp, Spotify Technology SA, Tencent Music Entertainment Group, THEME MUSIC Co. Pvt. Ltd., Warner Music Group Corp, Yamaha Corp., and Zee Entertainment Enterprises Ltd. are some of the major market participants. Request Free Sample Report.

Major Five Music Companies:

Alphabet Inc.: The company offers products, services, and solutions that enable customers to create, publish, and promote content from anywhere.
Amazon.com Inc.: The company includes Google infrastructure and data analytics platforms, collaboration tools, and other services for enterprise customers.
Apple Inc.: The company offers products for insight analysis, actionable data, data mining, and tech partners.
Bertelsmann SE and Co. KGaA: The company offers a wide range of solutions such as advertising, digital, social, and others.
Kobalt Music Group Ltd.: The company offers web analytics software such as garage methodology.

Music Market Segmentation

Source

Recording
Live
Others

Geography

North America
Europe
APAC
South America
The Middle East And Africa

The recording segment's market share will expand significantly. Recent years have seen a sharp increase in the popularity of music on mobile platforms, and it is anticipated that this trend will continue during the forecast period, driving the segment's growth. This is mainly because of growing internet usage and the rise of smartphones and tablets, especially in developing economies. As a result, a rise in the demand for music content on mobile platforms is anticipated to benefit the recording segment, which will then aid in the expansion of the market under consideration throughout the course of the projected period. Buy Sample Report.

Market Dynamics

One of the main factors boosting the expansion of the music sector is the rising use of digital music. Presently, roughly 60% of the money made by the recording sector comes from digital music, which includes music streaming and downloading.

Digital music is expanding due to the increasing use of mobile devices like smartphones and tablets as well as the accessibility of high-speed Internet connectivity. The audience for digital music has also grown as a result of the creation of numerous mobile applications and websites. However, factors such as illegal downloads and piracy may impede the market growth. Download Free Sample Report.

Related Reports:

Online Movie Market by Application and Geography - Forecast and Analysis 2022-2026: The online movie market share is expected to increase by USD 22.09 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 19.95%.

Stock Music Market by License Model and Geography - Forecast and Analysis 2022-2026: The stock music market share is expected to increase to USD 505.24 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 7.31%.

Music Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 11.84%
Market growth 2022-2026	$50.46 billion
Market structure	Fragmented
YoY growth (%)	11.44
Regional analysis	North America, Europe, APAC, South America, and the Middle East and Africa
Performing market contribution	North America at 46%
Key consumer countries	US, Japan, UK, Germany, and France
Competitive landscape	Leading companies, competitive strategies, consumer engagement scope
Companies profiled	Alphabet Inc., Amazon.com Inc., Apple Inc., Aspiro AB, Bertelsmann SE and Co. KGaA, Deezer SA, Kobalt Music Group Ltd., NORTHERN MUSIC Co. Ltd., Pioneer Music Co., Sirius XM Holdings Inc., Sony Group Corp, Spotify Technology SA, Tencent Music Entertainment Group, THEME MUSIC Co. Pvt. Ltd., Universal Music Group, Vivendi SE, Warner Music Group Corp, Yamaha Corp., and Zee Entertainment Enterprises Ltd.
Market Dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, and market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Contents

1 Executive Summary

1.1 Market overview

Exhibit 01: Executive Summary – Chart on Market Overview
Exhibit 02: Executive Summary – Data Table on Market Overview
Exhibit 03: Executive Summary – Chart on Global Market Characteristics
Exhibit 04: Executive Summary – Chart on Market by Geography
Exhibit 05: Executive Summary – Chart on Market Segmentation by Source
Exhibit 06: Executive Summary – Chart on Incremental Growth
Exhibit 07: Executive Summary – Data Table on Incremental Growth
Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem

Exhibit 09: Parent market
Exhibit 10: Market Characteristics

3 Market Sizing

3.1 Market definition

Exhibit 11: Offerings of vendors included in the market definition

3.2 Market segment analysis

Exhibit 12: Market segments

3.3 Market size 2021

3.4 Market outlook: Forecast for 2021-2026

Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ billion)
Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ billion)
Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

4.1 Five forces summary

Exhibit 17: Five forces analysis - Comparison between 2021 and 2026

4.2 Bargaining power of buyers

Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026

4.3 Bargaining power of suppliers

Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026

4.4 Threat of new entrants

Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026

4.5 Threat of substitutes

Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026

4.6 Threat of rivalry

Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026

4.7 Market condition

Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by Source

5.1 Market segments

Exhibit 24: Chart on Source - Market share 2021-2026 (%)
Exhibit 25: Data Table on Source - Market share 2021-2026 (%)

5.2 Comparison by Source

Exhibit 26: Chart on Comparison by Source
Exhibit 27: Data Table on Comparison by Source

5.3 Recording - Market size and forecast 2021-2026

Exhibit 28: Chart on Recording - Market size and forecast 2021-2026 ($ billion)
Exhibit 29: Data Table on Recording - Market size and forecast 2021-2026 ($ billion)
Exhibit 30: Chart on Recording - Year-over-year growth 2021-2026 (%)
Exhibit 31: Data Table on Recording - Year-over-year growth 2021-2026 (%)

5.4 Live - Market size and forecast 2021-2026

Exhibit 32: Chart on Live - Market size and forecast 2021-2026 ($ billion)
Exhibit 33: Data Table on Live - Market size and forecast 2021-2026 ($ billion)
Exhibit 34: Chart on Live - Year-over-year growth 2021-2026 (%)
Exhibit 35: Data Table on Live - Year-over-year growth 2021-2026 (%)

5.5 Others - Market size and forecast 2021-2026

Exhibit 36: Chart on Others - Market size and forecast 2021-2026 ($ billion)
Exhibit 37: Data Table on Others - Market size and forecast 2021-2026 ($ billion)
Exhibit 38: Chart on Others - Year-over-year growth 2021-2026 (%)
Exhibit 39: Data Table on Others - Year-over-year growth 2021-2026 (%)

5.6 Market opportunity by Source

Exhibit 40: Market opportunity by Source ($ billion)

6 Customer Landscape

6.1 Customer landscape overview

Exhibit 41: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

7.1 Geographic segmentation

Exhibit 42: Chart on Market share by geography 2021-2026 (%)
Exhibit 43: Data Table on Market share by geography 2021-2026 (%)

7.2 Geographic comparison

Exhibit 44: Chart on Geographic comparison
Exhibit 45: Data Table on Geographic comparison

7.3 North America - Market size and forecast 2021-2026

Exhibit 46: Chart on North America - Market size and forecast 2021-2026 ($ billion)
Exhibit 47: Data Table on North America - Market size and forecast 2021-2026 ($ billion)
Exhibit 48: Chart on North America - Year-over-year growth 2021-2026 (%)
Exhibit 49: Data Table on North America - Year-over-year growth 2021-2026 (%)

7.4 Europe - Market size and forecast 2021-2026

Exhibit 50: Chart on Europe - Market size and forecast 2021-2026 ($ billion)
Exhibit 51: Data Table on Europe - Market size and forecast 2021-2026 ($ billion)
Exhibit 52: Chart on Europe - Year-over-year growth 2021-2026 (%)
Exhibit 53: Data Table on Europe - Year-over-year growth 2021-2026 (%)

7.5 APAC - Market size and forecast 2021-2026

Exhibit 54: Chart on APAC - Market size and forecast 2021-2026 ($ billion)
Exhibit 55: Data Table on APAC - Market size and forecast 2021-2026 ($ billion)
Exhibit 56: Chart on APAC - Year-over-year growth 2021-2026 (%)
Exhibit 57: Data Table on APAC - Year-over-year growth 2021-2026 (%)

7.6 South America - Market size and forecast 2021-2026

Exhibit 58: Chart on South America - Market size and forecast 2021-2026 ($ billion)
Exhibit 59: Data Table on South America - Market size and forecast 2021-2026 ($ billion)
Exhibit 60: Chart on South America - Year-over-year growth 2021-2026 (%)
Exhibit 61: Data Table on South America - Year-over-year growth 2021-2026 (%)

7.7 Middle East and Africa - Market size and forecast 2021-2026

Exhibit 62: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ billion)
Exhibit 63: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ billion)
Exhibit 64: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
Exhibit 65: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)

7.8 US - Market size and forecast 2021-2026

Exhibit 66: Chart on US - Market size and forecast 2021-2026 ($ billion)
Exhibit 67: Data Table on US - Market size and forecast 2021-2026 ($ billion)
Exhibit 68: Chart on US - Year-over-year growth 2021-2026 (%)
Exhibit 69: Data Table on US - Year-over-year growth 2021-2026 (%)

7.9 Japan - Market size and forecast 2021-2026

Exhibit 70: Chart on Japan - Market size and forecast 2021-2026 ($ billion)
Exhibit 71: Data Table on Japan - Market size and forecast 2021-2026 ($ billion)
Exhibit 72: Chart on Japan - Year-over-year growth 2021-2026 (%)
Exhibit 73: Data Table on Japan - Year-over-year growth 2021-2026 (%)

7.10 UK - Market size and forecast 2021-2026

Exhibit 74: Chart on UK - Market size and forecast 2021-2026 ($ billion)
Exhibit 75: Data Table on UK - Market size and forecast 2021-2026 ($ billion)
Exhibit 76: Chart on UK - Year-over-year growth 2021-2026 (%)
Exhibit 77: Data Table on UK - Year-over-year growth 2021-2026 (%)

7.11 Germany - Market size and forecast 2021-2026

Exhibit 78: Chart on Germany - Market size and forecast 2021-2026 ($ billion)
Exhibit 79: Data Table on Germany - Market size and forecast 2021-2026 ($ billion)
Exhibit 80: Chart on Germany - Year-over-year growth 2021-2026 (%)
Exhibit 81: Data Table on Germany - Year-over-year growth 2021-2026 (%)

7.12 France - Market size and forecast 2021-2026

Exhibit 82: Chart on France - Market size and forecast 2021-2026 ($ billion)
Exhibit 83: Data Table on France - Market size and forecast 2021-2026 ($ billion)
Exhibit 84: Chart on France - Year-over-year growth 2021-2026 (%)
Exhibit 85: Data Table on France - Year-over-year growth 2021-2026 (%)

7.13 Market opportunity by geography

Exhibit 86: Market opportunity by geography ($ billion)

8 Drivers, Challenges, and Trends

8.1 Market drivers

8.2 Market challenges

8.3 Impact of drivers and challenges

Exhibit 87: Impact of drivers and challenges in 2021 and 2026

8.4 Market trends

9 Vendor Landscape

9.1 Overview

9.2 Vendor landscape

Exhibit 88: Overview on Criticality of inputs and Factors of differentiation

9.3 Landscape disruption

Exhibit 89: Overview on factors of disruption

9.4 Industry risks

Exhibit 90: Impact of key risks on business

10 Vendor Analysis

10.1 Vendors covered

Exhibit 91: Vendors covered

10.2 Market positioning of vendors

Exhibit 92: Matrix on vendor position and classification

10.3 Alphabet Inc.

Exhibit 93: Alphabet Inc. - Overview
Exhibit 94: Alphabet Inc. - Business segments
Exhibit 95: Alphabet Inc. - Key news
Exhibit 96: Alphabet Inc. - Key offerings
Exhibit 97: Alphabet Inc. - Segment focus

10.4 Amazon.com Inc.

Exhibit 98: Amazon.com Inc. - Overview
Exhibit 99: Amazon.com Inc. - Business segments
Exhibit 100: Amazon.com Inc. - Key news
Exhibit 101: Amazon.com Inc. - Key offerings
Exhibit 102: Amazon.com Inc. - Segment focus

10.5 Apple Inc.

Exhibit 103: Apple Inc. - Overview
Exhibit 104: Apple Inc. - Business segments
Exhibit 105: Apple Inc. - Key news
Exhibit 106: Apple Inc. - Key offerings
Exhibit 107: Apple Inc. - Segment focus

10.6 Aspiro AB

Exhibit 108: Aspiro AB - Overview
Exhibit 109: Aspiro AB - Product / Service
Exhibit 110: Aspiro AB - Key offerings

10.7 Bertelsmann SE and Co. KGaA

Exhibit 111: Bertelsmann SE and Co. KGaA - Overview
Exhibit 112: Bertelsmann SE and Co. KGaA - Business segments
Exhibit 113: Bertelsmann SE and Co. KGaA - Key news
Exhibit 114: Bertelsmann SE and Co. KGaA - Key offerings
Exhibit 115: Bertelsmann SE and Co. KGaA - Segment focus

10.8 Deezer SA

Exhibit 116: Deezer SA - Overview
Exhibit 117: Deezer SA - Product / Service
Exhibit 118: Deezer SA - Key news
Exhibit 119: Deezer SA - Key offerings

10.9 Sirius XM Holdings Inc.

Exhibit 120: Sirius XM Holdings Inc. - Overview
Exhibit 121: Sirius XM Holdings Inc. - Business segments
Exhibit 122: Sirius XM Holdings Inc. - Key offerings
Exhibit 123: Sirius XM Holdings Inc. - Segment focus

10.10 Sony Group Corp

Exhibit 124: Sony Group Corp - Overview
Exhibit 125: Sony Group Corp - Business segments
Exhibit 126: Sony Group Corp - Key offerings
Exhibit 127: Sony Group Corp - Segment focus

10.11 Spotify Technology SA

Exhibit 128: Spotify Technology SA - Overview
Exhibit 129: Spotify Technology SA - Business segments
Exhibit 130: Spotify Technology SA - Key offerings
Exhibit 131: Spotify Technology SA - Segment focus

10.12 Tencent Music Entertainment Group

Exhibit 132: Tencent Music Entertainment Group - Overview
Exhibit 133: Tencent Music Entertainment Group - Business segments
Exhibit 134: Tencent Music Entertainment Group - Key offerings
Exhibit 135: Tencent Music Entertainment Group - Segment focus

11 Appendix

11.1 Scope of the report

11.2 Inclusions and exclusions checklist

Exhibit 136: Inclusions checklist
Exhibit 137: Exclusions checklist

11.3 Currency conversion rates for US$

Exhibit 138: Currency conversion rates for US$

11.4 Research methodology

Exhibit 139: Research methodology
Exhibit 140: Validation techniques employed for market sizing
Exhibit 141: Information sources

11.5 List of abbreviations

Exhibit 142: List of abbreviations

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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