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Music Streaming Market to Grow by USD 49.63 Billion (2024-2028), Due to Rising Popularity of Streaming Services, Impact of AI on Market Trends- Technavio

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NEW YORK, Aug. 28, 2024 /PRNewswire/ — Report on how AI is redefining market landscape- The global music streaming market size is estimated to grow by USD 49.62 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 19.99%  during the forecast period. Increasing preference for music streaming services is driving market growth, with a trend towards increasing introduction of differentiated music streaming services. However, lack of ownership in music streaming  poses a challenge. Key market players include Alphabet Inc., Amazon.com Inc., Apple Inc., Bharti Airtel Ltd., Curb Records Inc., Deezer SA, Gamma Gaana Ltd., iHeartMedia Inc., KKBOX, Meredith Corp., Mixcloud Ltd., RealNetworks Inc., Reliance Industries Ltd., Sirius XM Holdings Inc., SoundCloud Ltd. And Co. KG, SOUNDMACHINE, Soundtrack Your Brand Sweden AB, Spotify Technology SA, Tencent Holdings Ltd., and TuneIn Inc..

Get a detailed analysis on regions, market segments, customer landscape, and companies- View the snapshot of this report

Music Streaming Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 19.99%

Market growth 2024-2028

USD 49625 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

16.15

Regional analysis

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

Performing market contribution

North America at 47%

Key countries

US, China, UK, Germany, and Japan

Key companies profiled

Alphabet Inc., Amazon.com Inc., Apple Inc., Bharti Airtel Ltd., Curb Records Inc., Deezer SA, Gamma Gaana Ltd., iHeartMedia Inc., KKBOX, Meredith Corp., Mixcloud Ltd., RealNetworks Inc., Reliance Industries Ltd., Sirius XM Holdings Inc., SoundCloud Global Ltd. And Co. KG, SOUNDMACHINE, Soundtrack Your Brand Sweden AB, Spotify Technology SA, Tencent Holdings Ltd., and TuneIn Inc.

Market Driver

Vendors in the global music streaming market are distinguishing themselves by introducing unique features in their services. Companies like YouTube Music from Alphabet, Pandora, Spotify, Deezer, and Tidal (an Aspiro AB subsidiary) offer personalized recommendations, easy accessibility on multiple platforms, and high audio quality. YouTube Music uses Google account data and artificial intelligence technology for song selections and location-based recommendations. Pandora plans to create podcasts based on its Music Genome Project. Spotify provides accessibility across various operating systems and focuses on social features. Apple and Amazon have integrated their music streaming services with their hardware, eliminating the need for additional software installation. These differentiated services are a significant trend driving the growth of the music streaming market.

Music streaming market is witnessing notable trends in 2023. Subscription models continue to dominate, with individual use being the primary driver. However, non-subscription options are gaining traction. Interactive features like collaborative playlists and social sharing are popular among users. Global expansion and localization are key focus areas for music streaming services. AI-driven personalization, live audio, and virtual concerts are emerging trends. High-fidelity and lossless streaming are in demand for superior user experience. Social features, user-generated content, and remix culture are shaping the future of music streaming. 5G connectivity and smart devices, including smart speakers, alarms, and virtual assistants, are driving adoption. Advancements in technologies like network connection, data transfer rates, and latency are essential for seamless streaming. Digital platforms, websites, music videos, podcasts, audio files, and 4G technology also play a role in the market. Subscription bundling with other services is a growing trend.

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Market Challenges

The global music streaming market is characterized by the digital distribution of music through subscription-based licenses. This model grants consumers access to vast music libraries without the option to own the tracks. A potential drawback is the requirement for an internet connection to stream music, as not all providers offer downloads. The absence of ownership may deter some customers from subscribing, potentially limiting market expansion during the forecast period.The music industry has seen significant shifts with the rise of digital platforms and smart devices. Music streaming services, websites, and apps have become the go-to destination for consumers to access music, music videos, podcasts, and audio files. With the advent of 5G connectivity, high-quality music streams and live videos are now possible, providing a superior user experience. Advancements in technologies like Artificial Intelligence (AI) and Machine Learning (ML) offer personalized recommendations and prime membership benefits. However, challenges persist, including unauthorized music streaming, piracy, and competition from OTT platforms and social media websites like YouTube Live and Facebook Periscope. Revenue channels include subscription models, ads, and partnerships with businesses like restaurants, cafeterias, salons, gyms, and cloud-based infrastructure for live streaming. Consumers can now rewind, fastforward, pause, and access audio and video content on application-based platforms or web-based platforms, making music more accessible than ever before.

For more insights on driver and challenges – Request a sample report!

Segment Overview 

This music streaming market report extensively covers market segmentation by  

Type 1.1 Free1.2 PaidEnd-user 2.1 Individual users2.2 Commercial usersGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 Free-  The free music streaming segment is expected to experience moderate growth in the music streaming market during the forecast period. Free music streaming is an advertising-supported service where vendors generate revenue by displaying ads during music play or when users make in-spot purchases. Leading global providers like Spotify and Alphabet offer free streaming services with limited music access and intermittent ads. For instance, Spotify’s free users can access 750 songs, while Alphabet provides up to 50,000 songs with some ads. The free segment’s growth is attributed to its widespread popularity and accessibility, making it a significant driver for the global music streaming market’s expansion.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) – Download a Sample Report

Research Analysis

Music streaming services have revolutionized the way consumers access and enjoy their favorite tunes, podcasts, and even live performances. With the rise of smart devices, music streams can now be accessed on-demand through websites and mobile apps, making music more convenient than ever before. Music videos and audio files can be streamed in high quality, with some services offering benefits like 5G connectivity for faster streams and downloads. 5G technology and 4G technology have made it possible for consumers to enjoy uninterrupted music streams, even on-the-go. Artificial Intelligence (AI) and Machine Learning (ML) have also made their way into music streaming, with features like personalized playlists and song recommendations based on listening history. Prime membership benefits, live videos, and social media websites like YouTube Live and Facebook Periscope have added to the music streaming experience. The music industry has embraced Over-the-Top (OTT) platforms, with individual segments like restaurants, cafeterias, salons, and gyms adopting cloud-based infrastructure for their music needs. However, unauthorized music streaming remains a concern, with consumers turning to piracy sites and apps to access copyrighted content. Rewind features and live streaming capabilities have added to the appeal of music streaming services, making them an essential part of modern entertainment.

Market Research Overview

Music streaming market is a dynamic and rapidly growing industry, driven by the proliferation of digital platforms and smart devices. Music streaming services, available as websites and application-based platforms, offer consumers on-demand access to music videos, podcasts, audio files, and live streams. Advancements in technologies like 5G connectivity and AI/ML enable high-quality music streams and personalized recommendations. Consumers can rewind, fastforward, pause, and interact with social features like collaborative playlists and live streaming. Revenue channels include non-subscription and subscription models for individual and commercial use. Unauthorized music streaming remains a challenge, while live videos, social media websites, and OTT platforms offer new opportunities. The music industry is transforming, with the audio and video segments experiencing significant growth. Cloud-based infrastructure, AI-driven personalization, and virtual concerts are shaping the future of music streaming. Smart devices, from smart speakers to alarms and voice commands, are making music streaming more accessible and convenient. Global expansion and localization are key trends, with social sharing and collaborative playlists enhancing the user experience.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

TypeFreePaidEnd-userIndividual UsersCommercial UsersGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses 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.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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FranklinWH Joins Efficiency Maine to Help Homeowners to Earn up to $600 Annually From Home Batteries

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Efficiency Maine Small Battery Program taps residential storage to support grid during peak demand

SAN JOSE, Calif., April 23, 2026 /PRNewswire/ — FranklinWH, a leading provider of whole-home energy management and storage systems, announced today it is participating in the Efficiency Maine Small Battery Program, allowing Maine homeowners to earn up to $600 per battery each year by supplying stored energy to the grid during peak demand periods.

The program reflects a growing use of residential energy storage systems as both backup power sources and grid resources that can generate income while helping stabilize electricity supply.

Homeowners who enroll can allow their systems to discharge energy during peak demand events, typically on weekday evenings, in exchange for annual payments.

“I work from home, so losing power really isn’t an option,” said Brian Duggan, a Maine homeowner who has used the system for four months. “There have been several community-wide outages since we installed our system, and we didn’t even notice. Our power stayed on.” Duggan said the system is a maintenance-free alternative to a generator, pairs with electric vehicle charging, and helps protect his home during winter travel.

“This is where the economics of home energy storage are heading,” said Gary Lam, CEO of FranklinWH. “Homeowners are no longer only consumers of electricity; they’re becoming active participants in the energy system. Programs such as this allow them to receive payments while strengthening the grid in their communities.”

Maine’s virtual power plant (VPP) program is administered by Efficiency Maine, which compensates homeowners for the energy their systems send back to the grid during peak events, creating a new revenue stream tied to system participation.

Efficiency Maine may call up to 60 events per year, typically lasting three hours during peak demand windows. Homeowners receive advance notice through the FranklinWH App and can opt out of individual events or unenroll at any time. During events, a reserve level is maintained to ensure power remains available for household needs.

As utilities and policymakers look for new ways to manage rising demand and grid volatility, VPP programs are expected to expand, positioning distributed home energy systems as a critical part of the solution.

About FranklinWH

FranklinWH Energy Storage is the manufacturer of the FranklinWH System, a next-generation home energy management and storage solution. Headquartered in the San Francisco Bay Area, FranklinWH’s team brings decades of experience across energy system design, manufacturing, sales, and installation. The company is AVL-listed with multiple financial institutions and continues to empower homeowners to achieve true energy freedom. Learn more at franklinwh.com.

Media Contact:
Media@franklinwh.com

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SOURCE FranklinWH Energy Storage Inc.

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Marelli highlights vehicle dynamics technologies as a competitive advantage, elevating safety, comfort and performance, at Auto China 2026

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The company will introduce new advanced suspension solutions such as the new Active Camber and the Electromechanical Lifter, enabling real-time control of wheel angle and vehicle heightAlso in the spotlight, the Hybrid Electromechanical Suspensions, a new architecture combining full-active actuator technology and best-in-class semi-active dampers to deliver a high-end driving experience while maintaining cost efficiency.

SAITAMA, Japan, April 23, 2026 /PRNewswire/ — At Auto China 2026 in Beijing (April 24-May 3), Marelli, a global technology partner to the automotive industry, will highlight how vehicle dynamics and advanced suspension technologies are becoming increasingly central to vehicle safety, performance, user experience, comfort and brand differentiation, also supporting the evolution toward Software-Defined Vehicles.
In this perspective, at booth n. W2B08 in Hall W2 in the New China International Exhibition Center (NCIEC), as a relevant part of its wider portfolio of solutions for different vehicle domains, the company will showcase its latest suspension and chassis innovations, suchas the new Active Camber, the Electromechanical Lifter and the Hybrid Electromechanical suspensions.

Enabled by software control and advanced electromechanical actuators, active suspension systems play a key role in determining vehicles behavior under different driving conditions, with a direct impact on overall user experience, vehicle agility and safety.

“The importance of vehicle dynamics technology spans all propulsion systems, giving automakers a decisive tool to drive vehicle distinctiveness while offering end users a wide range of personalization options.” stated Piero Monchiero, Advanced Innovation VP of Marelli’s Ride Dynamics business. “This is particularly evident in China, where customer expectations for vehicle dynamics and ride comfort continue to rise.”

Active Camber: optimal tire contact with the road to increase drivability and safety
The first relevant innovation is the Active Camber system, designed to enhance vehicle stability by correcting wheel camber in real time, improving vehicle performance and safety while delivering a more comfortable experience.

Camber is the inward or outward tilt of a wheel when viewed from the front of the vehicle. Proper camber ensures optimal tire contact with the road, improving grip for better stability, braking and acceleration, while also supporting more uniform tire wear.

The new solution presented in Beijing features an electronically controlled smart actuator with integrated sensors that continuously monitor the road surface. An intelligent control unit processes data every millisecond and automatically adjusts wheel angles in real time, adapting to driving conditions. This reduces body movement and increases grip, resulting in more precise handling and safer cornering. The solution provides a smoother experience in different conditions and contributes to extend tire life through a more even wear.

Electromechanical Lifter, smartly adapting vehicle height
Another innovation within Marelli’s suspension showcase in Beijing will be the Electromechanical Lifter, a fully electromechanical device integrated into the shock absorber that adjusts vehicle height in some specific situations. The system uses a smart actuator to deliver automatic leveling functionality, maintaining vehicle balance across varying conditions. The solution is suitable in particular for vehicle segments like sport and performance cars and sporty SUVs, addressing different use cases. Regarding sport and performance cars, it can lift the vehicle to manage garage ramps, speed bumps or snowy roads. On sporty SUVs, this technology can adjust the vehicle setup within a certain level of speed, in order to improve aerodynamics by minimizing drag. The system also facilitates easier vehicle entry and exit. The solution is oil-free, lightweight and ensures easy integration for carmakers.

New active electromechanical suspension solutions to elevate onboard experience
Designed to drive affordable innovation, the new Hybrid Electromechanical Suspension is a new suspension architecture that combines full-active actuator technology and best-in-class semi-active dampers to deliver a high-end driving experience while maintaining cost efficiency. Controlled by an Electronic Control Unit, the system integrates full-active electromechanical actuators applied to the front suspension, which provide optimal damping or self-generate reactive forces to minimize roll, pitch, yaw and vibration. These are paired with semi-active rear shock absorbers and optimize vertical dynamic response. The result is smoother driving, improved stability and enhanced safety in a variety of conditions.

This system draws from the experience of the Fully Active Electromechanical Suspension, which will also be on display at Marelli’s booth in Beijing. This oil-free solution uses four electronically controlled actuators which modulate each wheel’s suspension and damping parameters in real time, actively defining the best behavior of each vehicle’s suspension, for optimal handling and ride comfort balance. Data is processed in milliseconds to determine, through a smart algorithm, the actions required to adapt to road irregularities and driving situations, providing a “magic carpet” experience for vehicle occupants.

By enhancing stability and comfort, these two active electromechanical suspension solutions help reduce motion sickness, especially during activities like reading or using a laptop, which are expected to become more common with the rise of autonomous driving. They are also designed to recover kinetic energy, ensuring up to 80% energy efficiency compared to passive or semi-active systems.

Marelli’s booth at the Beijing Auto Show will be themed “Rooted in innovation, everywhere”, which illustrates the company’s ‘distributed’ model for high-speed innovation, to support customers wherever they need, with localized design, development, sourcing and manufacturing in China and across different regions. This approach combines local expertise and global reach to deliver affordable, scalable solutions at speed, that accelerate customers’ time-to-market. The company showcase will feature innovative solutions in several technology domains, including automotive lighting, electronics, interiors, propulsion, thermal systems, alongside a comprehensive portfolio of advanced suspension innovations.

About Marelli
Marelli is a global mobility technology supplier to the automotive sector. With a strong and established track record in innovation and manufacturing excellence, our mission is to transform the future of mobility through working with customers and partners to create a safer, greener, and better-connected world. With around 40,000 employees worldwide, the Marelli footprint includes over 150 sites globally.

Photo – https://mma.prnewswire.com/media/2964531/Marelli_Photo_1.jpg
Photo – https://mma.prnewswire.com/media/2964532/Marelli_Photo_2.jpg

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SOURCE Marelli

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Oklahoma City Turns to ASAP Service to Speed Emergency Response

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Oklahoma City Police Department 911 Communications announced that it has gone live with ASAP Service, a standards-based solution developed by The Monitoring Association (TMA).

OKLAHOMA CITY, April 23, 2026 /PRNewswire-PRWeb/ —  Oklahoma City Police Department 911 Communications announced that it has gone live with ASAP Service, a standards-based solution developed by The Monitoring Association (TMA). ASAP Service automatically and digitally delivers prioritized alarm notifications to the computer-aided dispatch (CAD) systems used by emergency communications centers (ECCs) across the country. The expected results of this initiative are faster, better-informed emergency response, fewer communication errors, improved data accuracy, and reduced stress for citizens and 911 telecommunicators.

“Once ASAP Service is integrated with our CAD system, we no longer will need to dedicate a telecommunicator to monitoring the web portal,” said Katherine Underwood, the agency’s management specialist.

The first phase of the initiative deployed the solution through ASAP View, a web-based portal that reduced the city’s implementation timeline by roughly 50 percent. “Once we had the opportunity to review our call volume and processes, the value of having all the information upfront was clear,” said Katherine Underwood, the agency’s management specialist. “We moved forward with View because it was easy to implement and use, and we believe it will reduce call handling times and overall call volume. Ultimately, the benefits outweighed the manual effort, since we would have had to build those calls either way.”

However, to realize the full potential of ASAP Service — for example, address pre-verification — the city plans to integrate ASAP with its CAD system as part of phase two. CentralSquare, the agency’s CAD-system vendor, is developing an application programming interface (API) for this purpose. The API will connect to the GovCloud-hosted version of ASAP, delivering scalability, reliability, and superior data security, as well as compliance with the Criminal Justice Information System (CJIS) security standards for handling criminal-justice information.

“Once ASAP Service is integrated with our CAD system, we no longer will need to dedicate a telecommunicator to monitoring the web portal,” Underwood said.

The agency’s ECC serves about 702,000 residents and provides 911 call-taking and dispatch services for law-enforcement, fire/rescue and emergency-medical incidents. In 2025, the center received 1.48 million calls for service, plus nearly 40,000 residential and business alarm notifications, the vast majority of which pertained to law-enforcement incidents.

Regarding alarm notifications, multiple voice calls typically are needed between 911 telecommunicators and alarm-monitoring-center personnel to verify the information needed to effectively dispatch emergency response. It is a time-consuming process — industry estimates indicate that it adds from two to eight minutes to response times, an eternity when lives and property are at risk. Because telecommunicators need to type the captured information into their CAD systems, the process also is prone to miscommunications, misinterpretations, and transcription errors.

ASAP Service is architected to resolve these issues. It was developed by TMA in collaboration with the Association of Public-Safety Communications Officials (APCO). The solution is built on two TMA-developed standards, the Automated Secure Alarm Protocol (ASAP) and the Alarm Verification Scoring Standard (AVS-01). Both are accredited by the American National Standards Institute (ANSI).

Of all the benefits that ASAP Service will provide, the one that resonates most with Underwood is the anticipated dramatic decrease in call volume for the center’s telecommunicators. Fewer calls mean telecommunicators will be free to focus on higher-priority incidents that require their unique skills and experience. They’ll also have more time to decompress between calls. “They’ll have time to breathe, which will reduce their stress,” Underwood said.

Further, Underwood predicted that citizens requiring emergency assistance will encounter fewer instances of being placed in queue and will experience shorter hold times when they are. “Our residents no longer will be competing with alarm companies to talk with one of us,” she said. “There’s nothing more frustrating than dialing 911 and getting the ‘all lines are busy, please hold and don’t hang up’ message when your house is burning down.”

As of go-live, the following alarm-monitoring companies are transmitting alarm notifications via ASAP Service to Oklahoma City Police Departments 911 Communications: Quick Response, CPI, Alert 360, Affiliated Monitoring, JCI, United Central Control, Allstate Security, Security Central, Rapid Response Monitoring, Everon/Protection One, Vector Security, Vivint, Guardian Protection, and Becklar.

Learn more about how TMA’s ASAP Service is saving lives every day nationwide at asap911.org.

About The Monitoring Association

The Monitoring Association (TMA), formerly the Central Station Alarm Association (CSAA), is an internationally recognized nonprofit trade association that represents professional monitoring companies, security systems integrators, and providers of products and services to the industry. Incorporated in 1950, TMA represents its members before Congress and regulatory agencies on the local, state and federal levels, and other authorities having jurisdiction (AHJ) over the industry. Learn more online at https://tma.us/about-tma/.

About TMA’s ASAP Service

Launched in 2011 as a public-private partnership, TMA’s Automated Secure Alarm Protocol (ASAP) Service enables direct electronic dispatch of emergency calls for service from alarm companies to emergency communications centers. Increasing the accuracy and efficiency of dispatches, ASAP Service utilizes American National Standards Institute (ANSI)-accredited protocols developed cooperatively by TMA and the Association of Public-Safety Communications Officials (APCO).

Media Contact

Julie Howerter, ASAP Service, 1 815-501-5832, rscarpino@pipitone.com, https://asap911.org/

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SOURCE ASAP Service

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