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USD 21.40 Bn growth in Recorded Music Market| Evolving opportunities in APAC | Technavio

NEW YORK, May 17, 2022 /PRNewswire/ -- The "Recorded Music Market by Geography and Type - Forecast and Analysis 2022-2026" report has been added to Technavio's offering. The 120-pages report segments the market by type (digital, physical, and others) and geography (Europe, North America, APAC, South America, and Middle East and Africa). According to the report, the market is expected to witness an incremental growth of USD 21.4 billion between 2021 and 2026. However, the growth momentum is expected to decelerate at a CAGR of 13.27% during the forecast period.

Technavio has announced its latest market research report titled Recorded Music Market by Geography and Type - Forecast and Analysis 2020-2024

Download a Sample Report Now for more highlights on the market size, YOY growth rates, and other important statistics.

Segmentation Analysis

Recorded Music Market Type Outlook (Revenue, USD Billion, 2021-2026)

  • Digital - size and forecast 2021-2026
  • Physical - size and forecast 2021-2026
  • Others - size and forecast 2021-2026

The digital segment will have the largest share of the market. The steady rise in the number of paid subscribers for online music streaming services is driving the growth of the segment. Also, increasing collaborations between major recorded companies and major artists is contributing to the growth of the segment.

Recorded Music Market Geography Outlook (Revenue, USD Billion, 2021-2026)

  • Europe - size and forecast 2021-2026
  • North America - size and forecast 2021-2026
  • APAC - size and forecast 2021-2026
  • South America - size and forecast 2021-2026
  • Middle East and Africa - size and forecast 2021-2026

The recorded music market in APAC is likely to grow at a considerable rate during the forecast period. The growth of the market will be driven by the rising adoption of music streaming services in countries such as China and India. The rising number of digital music service providers will also contribute to the growth of the regional market during the forecast period.

Vendor Landscape

The global recorded music market is fragmented. Vendors are engaged in intense competition to gain subscribers for their streaming packages. They are competing in terms of quality, relevance, content variety, user-friendliness, pricing, accessibility on various software platforms, and advertisement frequency models. Moreover, vendors are trying to come up with innovative solutions and product offerings that are more diverse and engaging for a large section of the audience.

Technavio identifies the following as the key players in the global recorded music market.

  • Aditya Music Pvt. Ltd.
  • Atlantic Recording Corp.
  • Beggars Group
  • Bertelsmann SE and Co. KGaA
  • DAIICHIKOSHO CO. LTD
  • Master Music Ltd
  • Naxos Digital Services Ltd
  • PSI Capital Inc.
  • Reel Note Studios
  • RP Sanjiv Goenka Group
  • Sony Group Corp.
  • Super Cassettes Industries Ltd.
  • Tips Industries Ltd.
  • Universal Music Group
  • Virgin Group Holdings Ltd.
  • Vivendi SE
  • Warner Music Group Corp

For more highlights on the vendor landscape, Download Our Sample Report.

Major Growth Driver

The market is driven by the increasing preference for on-demand music services. The rising number of devices supporting digital media and increased internet penetration has enabled consumers to access a wide range of media content. In addition, the proliferation of low-cost smartphones, especially in emerging markets has increased the subscriber base for music streaming. In addition, the increased availability of personalized music services by music streaming services companies has increased the preference for on-demand music services. Furthermore, advances in wired and wireless technologies and telecommunication standards such as 3G, 4G, and 5G have resulted in improvements in internet bandwidth. All these factors are positively influencing the growth of the global recorded music market.

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Recorded Music Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Decelerate at a CAGR of 13.27%

Market growth 2022-2026

USD 21.40 billion

Market structure

Fragmented

YoY growth (%)

17.3

Regional analysis

Europe, North America, APAC, South America, and Middle East and Africa

Performing market contribution

APAC at 34%

Key consumer countries

US, Japan, UK, Germany, and France

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Aditya Music Pvt. Ltd., Atlantic Recording Corp., Beggars Group, Bertelsmann SE and Co. KGaA, DAIICHIKOSHO CO. LTD, Master Music Ltd, Naxos Digital Services Ltd, PSI Capital Inc., Reel Note Studios, RP Sanjiv Goenka Group, Sony Group Corp., Super Cassettes Industries Ltd., Tips Industries Ltd., Universal Music Group, Virgin Group Holdings Ltd., Vivendi SE, and Warner Music Group Corp

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Contents:

1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Type
    • Exhibit 06: Executive Summary – Chart on Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 12: Market segments
  • 3.3 Market size 2021
  • 3.4 Market outlook: Forecast for 2021-2026
    • Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
    • Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
    • Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
    • Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

  • 4.1 Five forces summary
    • Exhibit 17: Five forces analysis - Comparison between 2021 and 2026
  • 4.2 Bargaining power of buyers
    • Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
  • 4.3 Bargaining power of suppliers
    • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
  • 4.4 Threat of new entrants
    • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
  • 4.5 Threat of substitutes
    • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
  • 4.6 Threat of rivalry
    • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
  • 4.7 Market condition
    • Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by Type

  • 5.1 Market segments
    • Exhibit 24: Chart on Type - Market share 2021-2026 (%)
    • Exhibit 25: Data Table on Type - Market share 2021-2026 (%)
  • 5.2 Comparison by Type
    • Exhibit 26: Chart on Comparison by Type
    • Exhibit 27: Data Table on Comparison by Type
  • 5.3 Digital - Market size and forecast 2021-2026
    • Exhibit 28: Chart on Digital - Market size and forecast 2021-2026 ($ million)
    • Exhibit 29: Data Table on Digital - Market size and forecast 2021-2026 ($ million)
    • Exhibit 30: Chart on Digital - Year-over-year growth 2021-2026 (%)
    • Exhibit 31: Data Table on Digital - Year-over-year growth 2021-2026 (%)
  • 5.4 Physical - Market size and forecast 2021-2026
    • Exhibit 32: Chart on Physical - Market size and forecast 2021-2026 ($ million)
    • Exhibit 33: Data Table on Physical - Market size and forecast 2021-2026 ($ million)
    • Exhibit 34: Chart on Physical - Year-over-year growth 2021-2026 (%)
    • Exhibit 35: Data Table on Physical - Year-over-year growth 2021-2026 (%)
  • 5.5 Others - Market size and forecast 2021-2026
    • Exhibit 36: Chart on Others - Market size and forecast 2021-2026 ($ million)
    • Exhibit 37: Data Table on Others - Market size and forecast 2021-2026 ($ million)
    • Exhibit 38: Chart on Others - Year-over-year growth 2021-2026 (%)
    • Exhibit 39: Data Table on Others - Year-over-year growth 2021-2026 (%)
  • 5.6 Market opportunity by Type
    • Exhibit 40: Market opportunity by Type ($ million)

6 Customer Landscape

  • 6.1 Customer landscape overview
    • Exhibit 41: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

  • 7.1 Geographic segmentation
    • Exhibit 42: Chart on Market share by geography 2021-2026 (%)
    • Exhibit 43: Data Table on Market share by geography 2021-2026 (%)
  • 7.2 Geographic comparison
    • Exhibit 44: Chart on Geographic comparison
    • Exhibit 45: Data Table on Geographic comparison
  • 7.3 Europe - Market size and forecast 2021-2026
    • Exhibit 46: Chart on Europe - Market size and forecast 2021-2026 ($ million)
    • Exhibit 47: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
    • Exhibit 48: Chart on Europe - Year-over-year growth 2021-2026 (%)
    • Exhibit 49: Data Table on Europe - Year-over-year growth 2021-2026 (%)
  • 7.4 North America - Market size and forecast 2021-2026
    • Exhibit 50: Chart on North America - Market size and forecast 2021-2026 ($ million)
    • Exhibit 51: Data Table on North America - Market size and forecast 2021-2026 ($ million)
    • Exhibit 52: Chart on North America - Year-over-year growth 2021-2026 (%)
    • Exhibit 53: Data Table on North America - Year-over-year growth 2021-2026 (%)
  • 7.5 APAC - Market size and forecast 2021-2026
    • Exhibit 54: Chart on APAC - Market size and forecast 2021-2026 ($ million)
    • Exhibit 55: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
    • Exhibit 56: Chart on APAC - Year-over-year growth 2021-2026 (%)
    • Exhibit 57: Data Table on APAC - Year-over-year growth 2021-2026 (%)
  • 7.6 South America - Market size and forecast 2021-2026
    • Exhibit 58: Chart on South America - Market size and forecast 2021-2026 ($ million)
    • Exhibit 59: Data Table on South America - Market size and forecast 2021-2026 ($ million)
    • Exhibit 60: Chart on South America - Year-over-year growth 2021-2026 (%)
    • Exhibit 61: Data Table on South America - Year-over-year growth 2021-2026 (%)
  • 7.7 Middle East and Africa - Market size and forecast 2021-2026
    • Exhibit 62: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
    • Exhibit 63: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
    • Exhibit 64: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
    • Exhibit 65: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
  • 7.8 US - Market size and forecast 2021-2026
    • Exhibit 66: Chart on US - Market size and forecast 2021-2026 ($ million)
    • Exhibit 67: Data Table on US - Market size and forecast 2021-2026 ($ million)
    • Exhibit 68: Chart on US - Year-over-year growth 2021-2026 (%)
    • Exhibit 69: Data Table on US - Year-over-year growth 2021-2026 (%)
  • 7.9 Japan - Market size and forecast 2021-2026
    • Exhibit 70: Chart on Japan - Market size and forecast 2021-2026 ($ million)
    • Exhibit 71: Data Table on Japan - Market size and forecast 2021-2026 ($ million)
    • Exhibit 72: Chart on Japan - Year-over-year growth 2021-2026 (%)
    • Exhibit 73: Data Table on Japan - Year-over-year growth 2021-2026 (%)
  • 7.10 UK - Market size and forecast 2021-2026
    • Exhibit 74: Chart on UK - Market size and forecast 2021-2026 ($ million)
    • Exhibit 75: Data Table on UK - Market size and forecast 2021-2026 ($ million)
    • Exhibit 76: Chart on UK - Year-over-year growth 2021-2026 (%)
    • Exhibit 77: Data Table on UK - Year-over-year growth 2021-2026 (%)
  • 7.11 Germany - Market size and forecast 2021-2026
    • Exhibit 78: Chart on Germany - Market size and forecast 2021-2026 ($ million)
    • Exhibit 79: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
    • Exhibit 80: Chart on Germany - Year-over-year growth 2021-2026 (%)
    • Exhibit 81: Data Table on Germany - Year-over-year growth 2021-2026 (%)
  • 7.12 France - Market size and forecast 2021-2026
    • Exhibit 82: Chart on France - Market size and forecast 2021-2026 ($ million)
    • Exhibit 83: Data Table on France - Market size and forecast 2021-2026 ($ million)
    • Exhibit 84: Chart on France - Year-over-year growth 2021-2026 (%)
    • Exhibit 85: Data Table on France - Year-over-year growth 2021-2026 (%)
  • 7.13 Market opportunity by geography
    • Exhibit 86: Market opportunity by geography ($ million)

8 Drivers, Challenges, and Trends

  • 8.1 Market drivers
  • 8.2 Market challenges
  • 8.3 Impact of drivers and challenges
    • Exhibit 87: Impact of drivers and challenges in 2021 and 2026
  • 8.4 Market trends

9 Vendor Landscape

  • 9.1 Overview
  • 9.2 Vendor landscape
    • Exhibit 88: Overview on Criticality of inputs and Factors of differentiation
  • 9.3 Landscape disruption
    • Exhibit 89: Overview on factors of disruption
  • 9.4 Industry risks
    • Exhibit 90: Impact of key risks on business

10 Vendor Analysis

  • 10.1 Vendors covered
    • Exhibit 91: Vendors covered
  • 10.2 Market positioning of vendors
    • Exhibit 92: Matrix on vendor position and classification
  • 10.3 Beggars Group
    • Exhibit 93: Beggars Group - Overview
    • Exhibit 94: Beggars Group - Product / Service
    • Exhibit 95: Beggars Group - Key offerings
  • 10.4 Bertelsmann SE and Co. KGaA
    • Exhibit 96: Bertelsmann SE and Co. KGaA - Overview
    • Exhibit 97: Bertelsmann SE and Co. KGaA - Business segments
    • Exhibit 98: Bertelsmann SE and Co. KGaA - Key news
    • Exhibit 99: Bertelsmann SE and Co. KGaA - Key offerings
    • Exhibit 100: Bertelsmann SE and Co. KGaA - Segment focus
  • 10.5 DAIICHIKOSHO CO. LTD
    • Exhibit 101: DAIICHIKOSHO CO. LTD - Overview
    • Exhibit 102: DAIICHIKOSHO CO. LTD - Product / Service
    • Exhibit 103: DAIICHIKOSHO CO. LTD - Key offerings
  • 10.6 Master Music Ltd
    • Exhibit 104: Master Music Ltd - Overview
    • Exhibit 105: Master Music Ltd - Product / Service
    • Exhibit 106: Master Music Ltd - Key offerings
  • 10.7 Naxos Digital Services Ltd
    • Exhibit 107: Naxos Digital Services Ltd - Overview
    • Exhibit 108: Naxos Digital Services Ltd - Product / Service
    • Exhibit 109: Naxos Digital Services Ltd - Key offerings
  • 10.8 PSI Capital Inc.
    • Exhibit 110: PSI Capital Inc. - Overview
    • Exhibit 111: PSI Capital Inc. - Product / Service
    • Exhibit 112: PSI Capital Inc. - Key offerings
  • 10.9 Sony Group Corp.
    • Exhibit 113: Sony Group Corp. - Overview
    • Exhibit 114: Sony Group Corp. - Business segments
    • Exhibit 115: Sony Group Corp. - Key news
    • Exhibit 116: Sony Group Corp. - Key offerings
    • Exhibit 117: Sony Group Corp. - Segment focus
  • 10.10 Universal Music Group
    • Exhibit 118: Universal Music Group - Overview
    • Exhibit 119: Universal Music Group - Product / Service
    • Exhibit 120: Universal Music Group - Key offerings
  • 10.11 Vivendi SE
    • Exhibit 121: Vivendi SE - Overview
    • Exhibit 122: Vivendi SE - Business segments
    • Exhibit 123: Vivendi SE - Key offerings
    • Exhibit 124: Vivendi SE - Segment focus
  • 10.12 Warner Music Group Corp
    • Exhibit 125: Warner Music Group Corp - Overview
    • Exhibit 126: Warner Music Group Corp - Business segments
    • Exhibit 127: Warner Music Group Corp - Key offerings
    • Exhibit 128: Warner Music Group Corp - Segment focus

11 Appendix

  • 11.1 Scope of the report
  • 11.2 Inclusions and exclusions checklist
    • Exhibit 129: Inclusions checklist
    • Exhibit 130: Exclusions checklist
  • 11.3 Currency conversion rates for US$
    • Exhibit 131: Currency conversion rates for US$
  • 11.4 Research methodology
    • Exhibit 132: Research methodology
    • Exhibit 133: Validation techniques employed for market sizing
    • Exhibit 134: Information sources
  • 11.5 List of abbreviations
    • Exhibit 135: List of abbreviations

About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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