Global Music Mobile Apps Market Report 2024

The music mobile apps market size has grown rapidly in recent years. It will grow from $6.31 billion in 2023 to $7.11 billion in 2024 at a compound annual growth rate (CAGR) of 12.7%. The growth observed during the historic period can be attributed to heightened accessibility to music-related content, proliferation of music streaming services, improved comprehension of consumer preferences, a rising emphasis on high-fidelity audio formats, and the widespread adoption of smartphones.

The music mobile apps market size is expected to see rapid growth in the next few years. It will grow to $11.54 billion in 2028 at a compound annual growth rate (CAGR) of 12.9%. The anticipated growth in the forecast period is expected to stem from the rising global penetration of smartphones, increasing demand for on-demand music streaming services, heightened technological requirements for delivering music in digital formats, advancements in smartphone technology, and an elevated demand for in-app purchases. Notable trends projected for the forecast period encompass the integration of social features within music applications, strategic alliances, technological innovations, expansion of internet access, particularly high-speed internet, and the incorporation of gaming elements into music applications.

The increasing demand for on-demand music streaming services is expected to drive the growth of the music mobile app market in the future. These services allow users to listen to music anytime, providing access to extensive song libraries streamed over the internet. The popularity of on-demand music streaming services is rising due to their convenience, comprehensive music libraries, personalized recommendations, multi-device accessibility, and ad-free listening experiences. Music mobile apps offer access to these services, providing users with vast libraries and customized playlists that enhance the smartphone user experience. For instance, according to the International Federation of the Phonographic Industry's Global Music Report 2023, the total revenue generated by the music streaming industry was $15.7 billion in 2021, increasing to $17.5 billion in 2022. Therefore, the rising demand for on-demand music streaming services is propelling the growth of the music mobile app market.

Leading companies in the music mobile apps market are promoting artistic expression and cultural enrichment by integrating advanced technologies into their platforms, such as AI-based music learning apps, to differentiate themselves in the market. An AI-based music learning app uses artificial intelligence to offer users personalized and interactive learning experiences. For example, in April 2024, Saregama India Ltd., a music label company based in India, introduced Padhanisa, an AI-driven music learning app. This platform features live masterclasses and Q&A sessions. Padhanisa offers various subscription plans, ranging from monthly to annual, with a free seven-day trial period. This app expands Saregama's offerings, acknowledging the widespread passion for singing in India, whether for celebrations or personal enjoyment. It is available on both the Google Play Store and the App Store.

In August 2021, Apple Inc., a California-based company specializing in designing, developing, and selling consumer electronics, computer software, and online services, acquired Primephonic. This acquisition aims to enhance Apple’s classical music experience on Apple Music, launch a dedicated app, and extend its global reach for high-quality streaming. Primephonic is a US-based company specializing in mobile apps designed for streaming classical music.

Major companies operating in the music mobile apps market are Apple Inc., Google LLC, Spotify Inc., Yandex NV, Warner Music Group Corp, Tencent Music Entertainment Group, iHeartMedia Inc., Pandora Media LLC, Deezer S.A., Amazon Music, Napster LLC, TuneIn Inc., SoundCloud Limited, Gamma Gaana Ltd., JioSaavn, Musixmatch Srl, Slacker Inc., Anghami S.A.L, NetEase Cloud Music, Mixcloud Limited, Aspiro AB, Bandcamp Inc., 8tracks Internet Radio, Spinrilla LLC, Audiomack Inc.

North America was the largest region in the music mobile apps market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the music mobile apps market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the music mobile apps market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Music mobile apps are software applications designed for smartphones and tablets, providing users with access to an extensive range of music content, including streaming, downloads, playlists, and personalized recommendations. These apps offer a seamless music listening experience, whether commuting, exercising, or relaxing at home.

The primary categories of music mobile apps are free and subscription-based. Free music mobile app users can access basic features at no cost, typically supported by ads that generate revenue, and can listen to music with occasional interruptions. The revenue generation model includes streaming, digital sales, physical products, performance rights, and synchronization revenues, available through applications on Android and iPhone operating systems (iOS).

The music mobile apps market research report is one of a series of new reports that provides music mobile apps market statistics, including music mobile apps industry global market size, regional shares, competitors with a music mobile apps market share, detailed music mobile apps market segments, market trends and opportunities, and any further data you may need to thrive in the music mobile apps industry. This music mobile apps market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The music mobile apps market consists of revenues earned by entities by providing services such as digital music streaming, personalized playlists, curated music recommendations, offline listening capabilities, ad-free listening options, premium subscriptions for enhanced features, and in-app purchases for music downloads or additional content. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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