AUDIO STREAMING MARKET ANALYSIS

Regional Analysis

North America held the largest audio streaming market share in 2016, and is expected to witness considerable growth prospects over the forecast period

U.S. accounted for the largest share in 2016, owing to presence of large number of chief participants in the region. Moreover, consumers in the country are increasingly inclined towards these services, owing to regulated availability of music content. Other developed economies that are anticipated to witness high growth over the forecast include Norway, Sweden, Denmark, and South Korea. Emerging economies in South Asia, primarily China and Hong Kong are expected to showcase double digit CAGR over the forecast period (2018–2026). These growth prospects can be attributed to highly developed music streaming market in China, increasing stringency of regulations to reduce piracy, and growing spending capacity of the users in these regions. According to IFPI Recording Industry report in 2015, around 75% of the overall revenue of recorded music in China was obtained from audio streaming.