LONDON — (BUSINESS WIRE) — January 12, 2015 — TechNavio has announced the publication of its market research report on the Global Digital Music Market, which is expected to grow at a CAGR of 14.61 percent from 2014-2019.
About the Report
The latest report from TechNavio emphasizes the increasing adoption of cloud services for music streaming. Cloud computing provides consumers with legal access to music online and is rapidly being adopted by firms as it enhances portability, enabling subscribed users to access digital content stored in remote servers.
“Consumers are switching to an access-based approach, which requires subscribing to digital music libraries stored in the cloud,” says Faisal Ghaus, Vice President of TechNavio.
From a digital music perspective, companies like Apple, Google and Amazon have primarily focused on the cloud as a remote locker for downloaded tracks. Developments in this sphere are expected to help content companies generate higher revenues from digital fronts.
Furthermore, the introduction of digital music has increased the importance of metadata. Vendors in the market are exploring this field to integrate various features like lyrics and sing-along features into the audio file. This provides market vendors with a selling point, which will drive market growth in the coming years.
Key Information Covered in the Report:
- Market segmentation, size and forecast through 2019
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Market Growth Drivers:
- Increased Disposable Incomes
- For a full detailed list, view our report.
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Market Challenges:
- Concerns over Piracy
- For a full detailed list, view our report.
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Market Trends:
- Increase in Adoption of Cloud Services for Music Streaming
- For a full detailed list, view our report.
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Key Vendors:
- Amazon.com Inc.
- Apple Inc.
- CBS Inc.
- Deezer
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Other Prominent Vendors:
- Aspiro
- Beats Electronics
- Blinkbox Music
- Gaana.com
TechNavio currently has more than 3000 market research reports on a huge range of topics, including 50+ reports on the music market:
If you are interested in more information, please contact our media team at media@technavio.com.
Contact:
TechNavio Research
Jes Ellacott, Media & Marketing Executive
US:
+1 630 333 9501 UK: +44 208 123 1770
www.technavio.com
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