
Middle East and Africa Music Streaming Market
No. of Pages: 66 | Report Code: TIPRE00014153 | Category: Technology, Media and Telecommunications
No. of Pages: 66 | Report Code: TIPRE00014153 | Category: Technology, Media and Telecommunications
The scope of the digital music streaming websites is taking over the musical scenario. Owing to the availability of cloud technology, regional music offerings, increased smartphone adoption, advanced streaming applications, and lesser cost of data are some of the major aspects transforming the entire landscape of music streaming. Spotify, Apple music, Amazon music unlimited, and YouTube music are some of the prominent online music streaming services prevailing in the MEA market. Consistent increase in on-demand streaming and availability of regional content on digital platforms will help the MEA market to further grow and provide growth opportunities to the providers prevailing in the MEA music streaming market. On the contrary, due to the availability of pirated channels and free music platforms, the number of subscribers might decline and can negatively impact on the MEA music streaming market. Furthermore, many music streaming service providers offer an unpaid trial period to gain traction of more individuals. Additionally, to remain competitive in the MEA market, timely updates and advancements are made in the digital music platform by the music streaming service providers to sustain in the market. Factors like rising popularity of digital music streaming websites and surge in number of music subscribers are expected to create a significant demand for music streaming in the coming years, which is further anticipated to drive the MEA music streaming market. Furthermore, in case of COVID-19, Saudi Arabia has the most significant COVID-19 cases in the MEA region and is followed by South Africa and the UAE, among others. UAE was the first country in the MEA to report a confirmed case of coronavirus. The COVID-19 pandemic would have significant effects on MEA economies, but the music streaming service providers are significantly witnessing the demand from consumers. Online entertainment is one of the bright spots in business during the outbreak of the COVID-19 pandemic in the MEA region. Tencent Holdings Ltd. is planning to launch its paid music app Joox to some of Africa’s populous countries after the streaming service proved a hit in Southeast Asia.
Strategic insights for the Middle East and Africa Music Streaming provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
Report Attribute | Details |
---|---|
Market size in 2019 | US$ 1536.4 Million |
Market Size by 2027 | US$ 3228.5 Million |
Global CAGR (2020 - 2027) | 9.5 % |
Historical Data | 2017-2018 |
Forecast period | 2020-2027 |
Segments Covered |
By Content Type
|
Regions and Countries Covered | Middle East and Africa
|
Market leaders and key company profiles |
The geographic scope of the Middle East and Africa Music Streaming refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The music streaming market in MEA is expected to grow from US$ 1536.4 million in 2019 to US$ 3228.5 million by 2027; it is estimated to grow at a CAGR of 9.5 % from 2020 to 2027.Availability of regional music is expected to increase the music streaming market across MEA. Along with the introduction of digital and cloud system, the scope of music streaming platforms and on-demand streaming has flourished with user inflow. Continuous technological developments are taking place across the MEA with an aim to cater music subscribers in a better manner. The subscription model is creating a significant impact on the development of MEA music streaming market. The music streaming service providers are offering region-specific original music to gain attention of customers and to multiply the number of subscriptions. With booming penetration of music streaming in tier 2 and 3 cities in emerging economies in MEA, the need to have regional content is flourishing. As the music streaming services are accessible on various platforms for cross-device access, the scope of on-demand streaming is anticipated to benefit various companies. The increasing adoption of on-demand streaming will encourage the music streaming service providers to offer an option of regional content. Availability of regional music is expected to create significant demand of music streaming, which will drive the MEA music streaming market.
In terms of content type, the audio streaming segment accounted for the largest share of MEA music streaming market in 2019. In terms of streaming type, the on – demand streaming segment held a larger market share of the MEA music streaming market in 2019. Further, the individual segment held a larger share of the market based on end user in 2019.
A few major primary and secondary sources referred to for preparing this report on the music streaming market in MEA are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Amazon.com, Inc.; Apple, Inc.; Google LLC; Joox; Spotify Technology S.A.
The List of Companies - Middle East and Africa Music Streaming Market
The Middle East and Africa Music Streaming Market is valued at US$ 1536.4 Million in 2019, it is projected to reach US$ 3228.5 Million by 2027.
As per our report Middle East and Africa Music Streaming Market, the market size is valued at US$ 1536.4 Million in 2019, projecting it to reach US$ 3228.5 Million by 2027. This translates to a CAGR of approximately 9.5 % during the forecast period.
The Middle East and Africa Music Streaming Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Middle East and Africa Music Streaming Market report:
The Middle East and Africa Music Streaming Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Middle East and Africa Music Streaming Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Middle East and Africa Music Streaming Market value chain can benefit from the information contained in a comprehensive market report.