Christy Publications Audio Streaming Market | Page 2

preference towards on-demand products and services through smartphone apps, coupled with innovative services such as providing individual preferences and personalized playlist options. This is expected to aid in growth of the market through the forecast period. Audio Streaming Services Market Taxonomy On the basis of platform, the global video streaming market is classified into:  Smartphones  Laptops & desktops  Tablets On the basis of end services, the global video streaming market is classified into:  Subscription based services  Ad-supported services  Increasing consumer inclination toward paid services to access high-quality and exclusive content is expected to support market growth  Ad supported services accounted for the largest user share in the market in 2016. However, subscription based services was the largest revenue generating segment in the audio streaming market. Moreover, consumers in developed economies prefer premium content with paid subscription as against free services. Requirement to capitalize on this opportunity, industry participants are increasingly focusing on paid services as a part of their offerings. This is expected to help industry participants in establishing strong foothold in the global audio streaming market. For instance, in March 2017, Pandora launched its premium subscription tier, that could play from a curated list of tracks, and provided tailored music lists with respect to consumer preferences. Browse Complete Report @ https://www.coherentmarketinsights.com/ongoing-insight/audio-streaming-market-620 Growing piracy of the licensed content is expected to be a challenge for the industry growth Revenue generated from these streaming technologies is expected to witness considerable surge. However, market is expected to face significant challenges from growing piracy across the globe, specifically in emerging economies. Moreover, low profit margins, licensing related