From GlobeNewswire: 2025-05-12 06:00:00

The global Music Streaming Market is expected to reach USD 143.89 billion by 2032, with a CAGR of 17.3% from 2025 to 2032 due to rising digital music consumption. North America leads the industry with USD 20.98 billion in 2025, while Asia Pacific is set for rapid growth. On-demand streaming and audio content are key segments.

Factors driving music streaming market growth include the global rise in smartphone and internet usage. As 5.5 billion people were using the internet in 2024, platforms like Spotify and Apple Music are gaining popularity. With instant access to millions of songs, digital music streaming services are set to see increased demand.

Piracy and limited internet access in certain regions hinder music streaming market growth. Challenges like piracy in nations such as India and insufficient internet infrastructure in low-income areas limit the industry’s potential. However, the rising interest in on-demand music services presents growth opportunities for music streaming platforms.

Key trends in the music streaming market include the adoption of subscription-based models and a focus on local and regional content. Integrating music streaming with social media platforms like TikTok is also becoming popular. Companies are investing in AI and analytics to enhance user experience, while expanding services globally to drive revenue.

Competitors in the music streaming market include Tidal, Apple, Spotify, Pandora, Google, Tencent Music, iHeartMedia, Deezer, and SoundCloud. Recent developments include Spotify’s expansion of AI Playlist, SoundCloud’s new services in Mexico, and Apple’s launch of live global radio stations. Market segmentation includes service, content, end-user, and regional insights.

Analysts predict rapid growth in the music streaming industry due to increasing smartphone and internet penetration, on-demand music popularity, and subscription-based models. However, challenges like piracy and limited internet access may hinder market growth to some extent. Evolving consumer preferences, technological advancements in audio quality, and competition among streaming platforms will impact the market.



Read more at GlobeNewswire: Music Streaming Market is Expanding Rapidly with 17.3% CAGR