Cloud Music Services Market Size - By Service Type (Cloud Music Streaming [Subscription-based, AD-based], Cloud Music Storage [Personal Music Storage, Sync and Access]), Platform (Mobile Device, Web-based), End-user (Individual, Business) & Forecast, 2023 – 2032
Published Date: March - 2025 | Publisher: MIR | No of Pages: 240 | Industry: Media and IT | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationCloud Music Services Market Size
Envision a world where you can listen to your favorite songs as much as you want without the trouble of purchasing CDs or keeping records. That is precisely what cloud music services provide! In 2022, individuals spent an astonishing $14.1 billion on cloud music services, and according to experts, that figure will only continue to increase even larger in the years to come. Why? Because these services provide you with access to an enormous library of songs and playlists, all at your fingertips. The music business is booming due to cloud services, and convenience is the name of the game. No more carrying around clunky music collections—you can now stream great-sounding music anywhere, anytime. And you don't have to worry about storage space or damaging your beloved vinyls. It's like you have a library of music in the cloud forever at your fingertips, and the only thing you require is a connection to the internet. Therefore, whether you're a fan of music or simply want some soothing background sound for your day, cloud music services are on your side.
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The spread of 5G networks is greatly increasing the market growth by allowing seamless & high-quality music streaming experience. The 5G network allows for quicker download & upload speeds, reduced latency, and higher network capacity, ensuring uninterrupted streaming even with heavy traffic. The technology offers faster access to large music libraries, improves real-time user interaction, and allows high-definition audio streaming, leading to improved user satisfaction and more individuals opting to subscribe to cloud music services
| Report Attribute | Details |
|---|---|
| Base Year | 2022 |
| Cloud Music Services Market Size in 2022 | USD 14.1 Billion |
| Forecast Period | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR | 10.5% |
| 2032 Value Projection | USD 37.6 Billion |
| Historical Data for | 2018 – 2022 |
| No. of Pages | 300 |
| Tables, Charts & Figures | 272 |
| Segments covered | Service type, platform, and end-use |
| Growth Drivers |
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| Pitfalls & Challenges |
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What are the growth opportunities in this market?
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Limited internet access in some areas continues to be a big issue for the cloud music services industry. Inadequate internet access is detrimental to the quality of music streaming and consequently results in substandard music experience and may deter potential subscribers. The digital divide not only impacts individual consumers but also presents challenges for the providers of the services attempting to reach more people. The providers have to deal with the intricacies of closing the gap to provide equal access to their services across the globe.
COVID-19 Impact
The COVID-19 pandemic also had beneficial effects on the cloud music services market. With lockdowns and social distancing restrictions, more individuals stayed indoors, resulting in an immense increase in the demand for digital entertainment such as music streaming services. People shifted to cloud music platforms for relaxation, social interactions, and entertainment, causing subscriptions and user engagement to significantly increase. This trend fueled the growth of digital music platforms and added to market size.
Cloud Music Services Market Trends
The only features in music streaming apps are propelling the growth in the cloud music services market. The platforms are providing exclusive content & features to push music with the music banner on the top of the music platform. It provides a distinct value proposition and enables consumers to discover the newest & variety of music options throughout the platform.
For example, in September 2023, Spotify, one of the top music streaming services, rolled out showcase, a new product that allows artists to promote their music directly on the home feed of the platform. Artists can showcase individual tracks or entire albums as mobile banners, targeting listeners in 30 markets, via Showcase. This aspect permits artists to use payment for boosted visibility & interaction, giving them an important facility for reaching larger numbers of audience members and creating stronger presence for themselves on Spotify. These items capture subscribers, promote user loyalty, and serve as a discriminating factor between services in an increasingly competitive arena.
Cloud Music Services Market Analysis
Discover more about the influential segments defining this market
By type of service, the cloud music streaming segment had approximately 65% of the cloud music services market in 2022. The rise of specialized classical music streaming services is fueling momentum in the market. The platforms provide expertly curated collections of classical music and thus attract a niche following of enthusiasts.
For example, in March 2023, Apple rolled out a dedicated music streaming service focused on classical music, following its purchase of Primephonic, a Amsterdam-based music platform, in 2021. Apple Music Classical is the new app offering subscribers access to a vast catalog of more than five million classical music titles and a large selection of expertly curated playlists, thus precisely targeting the classical music devotees across the Apple Music base. Such exclusivity targets particular music tastes and extends market appeal, enhancing the overall growth & diversification of cloud music streaming services.
Discover more about the most significant segments driving this market
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By platform, the mobile devices category commanded more than 60% of the market share of cloud music services in 2022. Mobile applications are optimized for the best user experiences, with easy-to-use interfaces that make music discovery and playback straightforward. Mobile applications are developed with user convenience in mind, thus making it easy to navigate and interact. Users can easily discover music through features like personalized suggestions, curated playlists, and social sharing capabilities.
Mobile applications tend to have advanced features, including offline mode and voice commands, thus improving the music streaming experience for smartphone and tablet users overall. The convenience and simplicity of use with mobile apps are driving the mobile devices segment growth in the market.
Need region specific data?
North America cloud music services market held 30% revenue share in 2022. Integrations and partnerships are instrumental in driving the demand for the North America market. Strategic partnerships with telecommunication giants, entertainment platforms, and device makers are contributing to extensive market reach.
Telecom alliances tend to package music streaming subscriptions with cellular plans, which makes the service more popular with a larger user base. Deals with entertainment platforms result in cross-promotion, thus enabling consumers to view a greater range of content. Compatibility with multiple devices such as smart speakers and connected TV is also increasing consumer convenience, further pushing market revenue by reaching out to the multi-faceted consumer base.
Cloud Music Services Market Share
Major companies operating in the cloud music services industry include
- Spotify AB
- Apple Inc.
- Amazon.com Inc.
- YouTube Music
- Dropbox
- NetEase Inc.
- Tencent Music Entertainment Group
Spotify AB and Apple Inc. are dominant players in the market due to their vast music catalogs, user-friendly apps, personalized playlists, offline listening options, and global reach. Spotify's free tier and Apple's ecosystem integration, along with consistent innovation, have attracted millions of users. Their brand recognition and exclusive content deals solidify their leadership in the highly competitive market.
Cloud Music Services Industry News
- In October 2023, Label Foundation, a pioneering Web 3.0 music platform, entered into a partnership with LG Electronics to introduce Tracks, an innovative Web3-based music streaming service. This groundbreaking collaboration marked the first instance where Web3 technology was seamlessly integrated with television platforms, thereby offering users with a unique & immersive music streaming experience.
- In March 2023, Universal Music Group entered a fresh collaboration with Deezer to foster a novel model music supporting streaming's ongoing growth. This partnership emphasizes recognizing the contributions of both artists and listeners, striving for a balanced approach that benefits all stakeholders involved in the streaming ecosystem.
The cloud music services market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue (USD Billion) from 2018 to 2032, for the following segments
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Market, By Service Type
- Cloud music streaming
- Subscription-based
- AD-based
- Cloud music storage
- Personal music storage
- Sync & access
Market, By Platform
- Mobile device
- Web-based
Market, By End User
- Individual
- Business
The above information has been provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Russia
- Asia Pacific
- China
- Japan
- India
- South Korea
- ANZ
- Southeast Asia
- Latin America
- Brazil
- Mexico
- Argentina
- MEA
- UAE
- South Africa
- Saudi Arabia
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