The Europe Music Streaming Market would witness market growth of 15.1% CAGR during the forecast period (2020-2026). The increasing combination of technologies like Machine Learning (ML), Extended Reality (ER), and Artificial Intelligence (AI) will support market growth during the forecast period. For example, the music platforms embedded with ML technology analyze the artists, albums, and songs that any person listens to frequently, then discover what attracts them. On the basis of this analysis, tracks and playlists are suggested to the user, enhance the search engines, and offer a better understanding of the user preference. The advanced technologies can help the market in bringing up better features like automatic one-touch personalized playlists, song mixing, and voice assistance.
With the growing consumption of high-speed internet around the globe, the adoption of music streaming services is also increasing. Now, the users have the access to the internet which connects them to the world, who prefer surfing the internet for anything and everything by abolishing the traditional ways. For example, previously, a person who wants to listen to a soundtrack needs to download it first, before listening to the song. This traditional way has changed with the introduction of music streaming platforms, now any user, having access to the internet can listen to any track without wasting time and storage. So, the penetration of the high-speed internet leads to the increasing demand for music streaming platforms and hence, drives the music streaming market.
Based on Content Type, the market is segmented into Audio and Video. Based on Platform, the market is segmented into Apps and Browsers. Based on Service Type, the market is segmented into On-demand Streaming and Live Streaming. Based on End User, the market is segmented into Individual and Commercial. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: Music Streaming Market in Europe is expected to register a CAGR of 15.1% during the forecast period (2020-2026)
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Amazon.com, Inc., Apple, Inc., Google, Inc., Tencent Music Entertainment Group (Tencent Holdings Ltd.), Spotify Technologies S.A., SoundCloud Ltd., Sirius XM Holdings, Inc. (Pandora Media, Inc.), iHeartMedia, Inc. (Thomas H. Lee Partners), Deezer S.A. (Access Industries Holdings LLC) and Aspiro AB (Tidal)
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