Cloud Music Services Market is estimated to be US$ 77.6 billion by 2032 with a CAGR of 30.2% over the forecast period (2022-2032)

Cloud Music Services Market is projected to grow from US$ 396.59 million in 2019. Growing number of smartphone users and easing internet accessibility worldwide, are two of the major factors propelling growth in mobile cloud services market. With the increasing penetration of mobile cloud music services, decline in prices has been observed, which is expected to further drive the market during the forecast period. As users look for a place where they can store their playlists and play it on their various internet connected devices on the go, mobile cloud music services are able to fulfil the requirement. The efforts made by governments and telecommunication service providers to establish advanced network infrastructures at affordable prices to masses are expected to create lucrative growth opportunity for the global cloud music services market.

The report "Global Cloud Music Services Market, Cloud Music Services Market, By Type (Ad-Based Streaming, Download, and Subscription), By Genre (Classical, Hip-Hop, Electronic, Pop, Rock, and others), By platform (Mobile Apps, and Web), By Application (Cloud-Enabled Stereo system, Laptops, Car, Smartphones, and Tablets), By End-User (Commercial, and Individual), By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2030"

Key Highlights:

• In November 2019, Spotify announced 4 new partnerships bringing Spotify premium across the globe.
• In August 2018, Samsung announced Spotify as its go-to music partner.

Key Market Insights from the report:        

Cloud Music Services Market accounted for US$ 4.8 billion in 2022 and is estimated to be US$ 77.6 billion by 2032 and is anticipated to register a CAGR of 30.2%over the forecast period. The market report has been segmented based on region.

• Based on Type, Cloud Music Services Market is segmented into Ad-Based Streaming, Download, and Subscription.
• Based on Genre, Cloud Music Services Market is segmented into Classical, Hip-Hop, Electronic, Pop, Rock, and others), By platform (Mobile Apps, and Web.
• Based on Platform, Cloud Music Services Market is segmented into Mobile Apps, and Web.
• Based on Application, Cloud Music Services Market is segmented into Cloud-Enabled Stereo system, Laptops, Car, Smartphones, and Tablets.
• Based on End-User, Cloud Music Services Market is segmented into Commercial, and Individual.
• By Region, the Tow Tractor Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Global Cloud Music Services Market”, By Region – global forecast till 2030

The prominent player operating in the global cloud music services market includes Spotify AB, Apple Inc., Amazon.com Inc., Google LLC, Times Internet, Pandora Media Inc., Saavn Media Pvt Ltd, ASPIRO AB, NetEase Inc., Deezer SA.

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