The market is growing steadily, thanks to new services from Apple, Google Rdio and more.
London, 24 April 2014: TechNavio, the independent tech-focused global research firm, has published a list of top vendors in the Global Mobile Streaming Music Market, which is posting a CAGR of 29.20 percent from 2013-2018.
Wider availability of decent data plans, and an upsurge in subscriptions services are just two factors driving this growth.
“The increasing integration of music streaming application with social media platforms like Facebook has increased music subscriptions significantly around the world,” says TechNavio Vice President, Faisal Ghaus.
The collaboration between Spotify and Facebook enables users to access Spotify via Facebook and share playlists with their friends.
“Subscription services like this are providing consumers with the benefit of choice. Also, the freemium business model is aimed at migrating free users to premium paid services while ensuring their sustainability, which is helping the Global Mobile Streaming Music Market as a whole.”
Cloud Services Essential for Streaming Music Vendors
Additionally, integration of cloud services with streaming music provides consumers with legal access to music online, and is rapidly being adopted by firms because it enhances portability, enabling subscribed users to access digital content stored in remote servers irrespective of the devices used. While portable music used to be the domain of MP3 players like iPods, the current scenario is witnessing consumers switching to an access-based approach, which consists of subscribing to digital music libraries stored in the cloud.
To determine the scenario for these vendors 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.
If you are interested in more information on this topic and our upcoming research on the Global Mobile Streaming Music Market please send an e-mail to media@TechNavio.com.
https://www.technavio.com/%3Cp%3E%C2%A0%3C/p%3E%0A%0A%3Cul%3E%3Cli%3E%3Cs…
