Live Audio Streaming Market Growth & Industry Outlook to 2027

Live Audio Streaming Market to 2027 - Global Analysis and Forecasts by Component (Hardware, and Software & Services); Platform (Web and Mobile); Application (Enterprise, Radio, Music Concerts & Events, Personal, and Others)

Publication Month : Aug 2019

  • Report Code : TIPRE00006467
  • Category : Technology, Media and Telecommunications
  • Status : Published
  • No. of Pages : 159
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The live audio streaming market was valued at US$ 512.8 million in 2019 and is projected to reach US$ 1,166.4 million by 2027. The Live audio streaming market is expected to grow at a CAGR of 10.8% during the forecast period of 2020 to 2027.

The consumption of digital content has been increasing at an exponential rate from the past decade owing to the increasing penetration of smartphones and easy accessibility to internet to world population. The rising digital transformation in various services, ranging from banking and government services to music services, has been a major factor driving the global transition of customers from traditional solutions to digital ones. The devices such as smartphones, tablets, and PCs have become an integral part of human lives. Further, the rising disposable income levels and increasing demand for digital content are among the factors driving the growth of live audio streaming services worldwide. The availability of affordable data plans and low-cost smartphones is the major factor that has driven digital content consumption among consumers worldwide. Mobile internet is significantly contributing to the development of a wider digital ecosystem and driving the demand for live audio and video streaming services worldwide. This exponential growth in data traffic over the internet is attributed to the growing penetration of smartphones and other similar devices

The market for live audio streaming has been segmented on the basis of component, platform, application, and geography. Based on component, the market has been segmented into hardware, and software and services. Live audio streaming software and services are expected to represent a largest share of the overall market throughout the forecast period. Based on platform, the live audio streaming market has been segmented into web and mobile. In 2018, mobile segment contributed a substantial share in the global live audio streaming market. The digital revolution across the globe has changed consumer behavior drastically, which is further fueling the demand for digital content. The market is further segmented on the basis application into enterprises, radio, music concerts and events, personal, and others. During the forecast period, enterprise segment is expected to be the largest contributor to the overall market size.

Lucrative Regions in Live Audio Streaming Market

Lucrative Regions in Live Audio Streaming Market
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Live Audio Streaming Market Insights

Growing Mobile Subscriber Base Driving Demand for Live Audio Streaming Services

According to the GSMA estimates, the total number of unique mobile subscribers around the globe is up to 5.7 Bn by the end of 2020. Close to 75% of the world population would be subscribed to mobile services by 2020. The tremendous growth in the number of mobile subscribers in the past decade is majorly attributed to the developing economies of APAC where large percentage of the world population is concentrated. Further, the ubiquity of smartphones with high-speed internet connectivity has been a key driving factor for growth in adoption of streaming services, both audio and video. The mobile operators worldwide have invested close to US$ 700 Bn in the past decade for the development of the telecommunication network infrastructure.

Component -Based Market Insights

A live audio streaming system comprises two major components that form the basis of this segmentation of the live audio streaming market. The advantage of not downloading the entire content and just streaming the entire audio has garnered significant interest in the live audio streaming systems from various corners.

Live Audio Streaming Market, by Component – 2019 and 2027

Live Audio Streaming Market, by Component – 2019 and 2027
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Platform -Based Market Insights

Live audio streaming can be channelized through different platforms, including mobiles and websites. The website platforms provide additional features to the users, whereas the mobile platforms provide the advantage of mobility to them. Through different platforms, the users ensure maximum reach of the audio streams to customers. The live audio streaming market has been segmented on the basis of platform into web and mobile.

Application -Based Market Insights

The global live audio streaming market based on application has been segmented into enterprise, radio, entertainment, music concerts and events, personal, and others. Data streaming industry is a dynamic industry and needs a high level of flexibility. Wider internet bandwidths offered to consumers for communications have given rise to streaming services. The proliferation of consumer electronics, coupled with developed internet infrastructures, has ensured a wider reach of the audio and video streaming services globally.

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Live Audio Streaming Market: Strategic Insights

live-audio-streaming-market
Market Size Value inUS$ 512.8 Million in 2019
Market Size Value byUS$ 1,166.4 Million by 2027
Growth rateCAGR of 10.8% from 2020-2027
Forecast Period2020-2027
Base Year2020
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Players operating in the Live audio streaming market focus on strategies, such as market initiatives, acquisitions, and product launches, to maintain their positions in the live audio streaming market. A few developments by key players of the live audio streaming market are:

In July 2019, SoundCloud introduced mobile profile editing in the SoundCloud iOS app, providing creators with an easy and intuitive experience to keep their profiles up to date when they’re on the go.

In May 2019, Adobe Inc. unveiled its plan to collaborate with Veriskope. Under agreement with Adobe, Veriskope plans to sell, support, upgrade, and enhance the Adobe Media Server (AMS), the RTMP SDK and several related video products worldwide.

Live Audio Streaming Market – by Component

  • Hardware
  • Software & Services

Live Audio Streaming Market – by Platform

  • Web
  • Mobile

Live Audio Streaming Market – by Application

  • Enterprise
  • Radio
  • Music Concerts and Events
  • Personal
  • Others

Live Audio Streaming Market – by Geography

  • North America

    • US
    • Canada
    • Mexico
  • Europe

    • France
    • Germany
    • Spain
    • UK
    • Italy
    • Rest of Europe
  • Asia Pacific (APAC)

    • China
    • India
    • Japan
    • Australia
    • Rest of APAC
  • MEA

    • Saudi Arabia
    • UAE
    • South Africa
    • Rest of MEA
  • SAM

    • Brazil
    • Argentina
    • Rest of SAM

Live Audio Streaming Market – Company Profiles

  • Adobe Inc.
  • Bloomberg LP
  • DACAST
  • Lime Broadcast Group
  • LINEAPP GmbH
  • Live365
  • Mixlr Ltd
  • Muvi LLC
  • SoundCloud
  • Spotify Technology S.A.
  • Stream Monster Inc.
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Component ; Platform ; Application

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina

The List of Companies

 

  1. Adobe Inc.
  2. Bloomberg L.P
  3. DaCast
  4. Lime Broadcast Group
  5. Lineapp GmBH
  6. Live365
  7. MIXLR Ltd.
  8. Muvi LLC
  9. SoundCloud
  10. Spotify Technology S.A
  11. Stream Monster Inc.

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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