Music Streaming Market Analysis, Growth and Segment Forecasts to 2020

Technavio Announces the Publication of its Research Report Global Music Streaming Market 2016-2020
Technavio recognizes the following companies as the key players in the global music streaming market: Apple, Deezer, Google, iHeartMedia, Pandora, and Spotify.
Other Prominent Vendors in the market are: CBS, Clear Channel Radio,, Grooveshark, Guvera, Hungama MyPlay, JB Hi-Fi Pty, Line, Mixcloud, News, RadioTime, Rara, Rhapsody, Saavn, and SoundCloud.

Commenting on the report, an analyst from Technavio’s team said: “Globalization of the music streaming market is a key trend for this market. Music streaming service is becoming a global service due to evolving technology infrastructure and accessibility. Key vendors, especially from the US, Japan, and the EU, are investing heavily in research and directing their efforts to acquire a larger share in the global music streaming market. Developing countries are also slowly entering the streaming market. Old and new vendors will compete during the forecast period to increase the revenues and growth of global music streaming services.”

Browse full report with TOC@

According to the report, increased usage of smart devices is a key driver for this market. Smartphones and tablets have established themselves as necessary gadgets for consumers worldwide. Users mostly access music on their personal devices while traveling. Therefore, the increasing penetration of smart devices at the global level will result in the market's rapid growth.

Further, the report states that intense competition and inconsistent user preference is a challenge to market growth. Competition among global music streaming service providers is very intense, especially in developing countries. The markets in the developing countries like India are highly fragmented with the presence of global and domestic players, leading to price wars among mobile...