Global Cloud Mobile Music Services Market 2017-2021
About CLOUD MOBILE MUSIC SERVICES
Cloud mobile music services include internet services that help users to upload their personal music collection on the cloud. These (music collections) can be later retrieved from the Internet on laptops, smartphones, tablets, and other devices. A majority of the mobile music service providers have online music stores that offer songs to the user. Cloud-based online music enables listeners to move from the traditional way of owning music to a new model of 'anytime-anywhere' access to music. Moving from an ownership model to subscription and ad-supported music is likely to change the music preferences of consumers as they will experiment more with the new forms of music. This will result in a wide variety of music reaching a large and diverse audience.
Technavio’s analysts forecast the global cloud mobile music services market to grow at a CAGR of 7.40% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global cloud mobile music services market for 2017-2021. To calculate the market size, the report considers the new sales/volume/value and aftermarket/services market.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Cloud Mobile Music Services Market 2017-2021
Technavio recognizes the following companies as the key players in the Global Cloud Mobile Music Services Market: Alphabet, Amazon, Apple, and Spotify.
Other Prominent Vendors in the market are: Aspiro, Deezer, Guvera, Gamma Gaana, Microsoft, Rhapsody International, Saavn, Stingray Digital Media Group, and TriPlay.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is rising popularity of analytics in the music industry. Record companies are heavily investing in curators, editors, and data analytics systems to provide a customized music experience. Cloud mobile music service providers are also following the same trend. Data analytics services help in identifying music preferences (of the users) and are widely used in music streaming services. The streaming service providers are also investing in intelligent music recommendations. In 2014, Spotify acquired Echo Nest (a company that provides acoustic fingerprinting services) to emphasize the use of analytics. Vendors focus on creating intelligent music platforms that combine social curation and algorithm.”
According to the report, one of the major drivers for this market is increasing use of smartphones and cloud services. There is an increasing demand for mobile devices and cloud services among the consumers and service providers. The growing popularity of smartphones drives the demand for cloud services in the global mobile music industry. The rising number of mobile sites and mobile applications help the music subscription services vendors in growing their customer base. Vendors are also introducing various domestic mobile applications through the cloud, which help in streaming and downloading music. Music is one of the most used applications in mobile devices after social media and emails.
Further, the report states that one of the major factors hindering the growth of this market is music piracy leading to huge losses. Piracy or counterfeiting hinders the growth in the global cloud mobile music services market. Service providers find it challenging to prevent the sharing, copying, and downloading of music from illegal online sources. Widespread music piracy and illegal downloading lead to huge losses in the music industry. In addition, it is estimated that a quarter of the Internet users are accessing music illegally, either through peer-to-peer systems, such as BitTorrent, or downloading music from websites, blogs, and stream-ripping applications.
Alphabet, Amazon, Apple, Spotify, Aspiro, Deezer, Guvera, Gamma Gaana, Microsoft, Rhapsody International, Saavn, Stingray Digital Media Group, and TriPlay.
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