- The key vendors in the global mobile music streaming market 2015-2019 are Apple Inc., Deezer, Google Inc., Microsoft Corp., Pandora Media Inc., Rdio Inc., and Spotify Ltd.
London, 19 June 2015: Technavio, an independent tech-focused global research firm, has announced the publication of its market research report on the global mobile music streaming market 2015-2019. The introduction of numerous wearable gadgets, which can be synced with mobile devices, is a key trend that is expected to bolster growth in this market. Development of applications and interfaces that help in streaming music and also enable user access to music on the cloud are some of the advantages of using wearable gadgets. This market is expected to grow at a CAGR of 28.07% during the forecast period of 2014-2019.
Rapid advances in the field of technology and the growing adoption of mobile devices, smartphones and tablets, are expected to support market growth. Other factors that spur growth include increasing penetration of social media, and the availability of low-cost data plans. Also, the increasing integration of streaming applications with social media platforms has led to a rise in the popularity of subscription-based services, which in turn drives growth in the global mobile music streaming market.
“The introduction of digital music has increased the importance of metadata. Vendors in the global mobile music streaming market are exploring this field to integrate features, such as lyrics and sing along into the audio file,” says Faisal Ghaus, Vice President of Technavio Research.
“Metadata is the information embedded in a music file, such as the track name, artist’s name, and bit rate. This provides vendors a selling point, which will potentially drive market growth during the forecast period.”
To define the market conditions in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
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