Cloud music is a new revolution in the music industry, which is expected to bring about drastic changes in music distribution and consumption. Mobile cloud music is a service in which customers can access music tracks on demand without actually purchasing them. Cloud also provides a facility to store owned albums and tracks. With this service, users can develop and maintain new range of tracks on cloud.
The global cloud music service market is expected to register 318 million subscribers by 2018. Growth in smart phone market and technologies like 3G and 4G are the key drivers for this growth. Increase in number of users accessing Offline Playback, Third Party Partnership, social networking and Cross Platform are also expected to drive this market in the future. Network connectivity, battery life and consumer spending are the restraints for this market.
Asia-Pacific is a growing regional market for cloud music as this sector is expected to grow with CAGR of about 77% from 2012 to 2018. Huge population, increasing sales of smart phones and rising disposable income in emerging countries like India and China are responsible for this growth.
This report gives the global market size, share, growth and forecast for the cloud music service market in the U.S, Europe, Asia-Pacific and ROW. This report also provides current and forecasted market size for the global smartphone market.
Major players in the global market include Spotify Ltd., Research In Motion, Google, PlusFourSix AB Inc., MOG Inc, Catch Media, Inc., Rhapsody International Inc., SugarSync Inc, Sony Network Entertainment International, Amazon, Apple, Inc., KKBOX Inc., among others.
This market research report analyzes important market segments, and major geographies. This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
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