Dallas, TX (PRWEB) June 22, 2014
Cloud computing 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. Listening to music, initially, was only possible using devices such as iPods. But the current scenario is witnessing consumers switching to an access-based approach, which consists of subscribing to digital music libraries stored in the cloud. Cloud-based music services such as iTunes Match have become a market reality and have increased the popularity of music downloads. Historically, companies such as Apple Inc., Google Inc., and Amazon Inc. have primarily focused on cloud music from a storage perspective, as a remote locker for downloaded tracks. Such developments are expected to help content companies generate higher revenues from digital fronts.
Analysts forecast the Global Music on Demand market will grow at a CAGR of 20.64 percent over the period 2013-2018. According to the report, the upsurge in subscription services is one of the major market drivers. The increasing integration of music streaming applications with social media platforms such as Facebook has increased music subscriptions significantly around the world.
The Global Music on Demand market can be segmented into five types: Download, Subscription, Ad-based Streaming, Mobile and Others. These are types of music on demand services. This report covers the present scenario and the growth prospects of the Global Music on Demand market for the period 2014-2018. To calculate market size, the report considers revenue generated by the services provided by the market vendors. The market calculation, however, does not include online radio streaming services. The report also provides a market size based on its user base.
Global Music on Demand Market 2014-2018, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the Americas, and the EMEA and APAC regions; it also covers the Global Music on Demand market landscape and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.
Key Market Driver