Music and Video Market to grow by USD 413.28 billion from 2022 to 2027, the market is fragmented due to the presence of prominent companies like Alphabet Inc., Amazon.com Inc. and Apple Inc., and many more – Technavio

NEW YORK, Sept. 18, 2023 /PRNewswire/ — The music and video market is estimated to grow by USD 413.28 billion from 2022 to 2027, growing at a CAGR of 19.7%. The music and video market is fragmented owing to the presence of many global and regional companies. A few prominent companies that offer music and video market are Alphabet Inc., Amazon.com Inc., Apple Inc., Bharti Airtel Ltd., Block Inc., ByteDance Ltd., Deezer SA, Gamma Gaana Ltd., iHeartMedia Inc., Microsoft Corp., Netflix Inc., Reliance Industries Ltd., Sirius XM Holdings Inc., Sony Group Corp., SoundCloud Global Ltd. and Co. KG, Spotify Technology SA, Tencent Music Entertainment Group, The Walt Disney Co., Viacom18 Media Pvt. Ltd., and Vimeo.com Inc.. The report provides a full list of key companies, their strategies, and the latest developments. Download a FREE Sample before buying

Company Offering:

• Amazon.com Inc.: The company offers music and video such as Amazon Prime Music.
• Alphabet Inc.: The company offers music and video such as YouTube Music.
• Apple Inc.: The company offers music and video such as Apple Music.
• For details on companies and their offerings – Buy a report!

By Geography, the market is classified as North America, Europe, APAC, South America, and Middle East and Africa. North America will have the largest share of the market. 32% of the global market growth is contributed by North America. The US is the key market for music and video in North America. However, the market growth rate in North America will be slower than the growth of the market in other regions. Moreover, factors like the prevalence of smartphones and improved internet connectivity across the region drive the demand for online music and video streaming services. Also, given the growing opportunities in the North American music and video market, several new players are entering the market to expand their customer base. Hence, factors like the rising demand for OTT services for video streaming will facilitate the music and video market growth in North America over the forecast period. Download a FREE sample report to get more insights on the market share of various regions and the contribution of the segments.

• Impactful driver- Rising Internet and smartphone penetrations
• Key Trend – Integration of advanced technologies with online streaming services
• Major Challenges – The increasing threat from hacking

 Market Segmentation

• By Type, the digital segment is significant during the forecast period. Technavio Research experts have provided more insights on the market share of segments – View a FREE Sample Report

FAQS

• How do the major trends impact the market?
• How big is the North America market?
• How do the key drivers and challenges impact the market?

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TOC:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Platform 

7 Market Segmentation by Type

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

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SOURCE Technavio