Mobile
cloud music services have brought a significant change in the music
distribution and consumption process across the world. Unlike
traditional music compact disks (CDs) and tapes, mobile cloud music
services offer access to audio content over the internet. Numerous
portals offer access to music files throughout the day on an
on-demand basis. Consumers can gain access and listen to the music
stored over the cloud through various mobile electronic devices
including smart phones, tablets and other dedicated music players.
With the use of mobile cloud music services, consumers do not need to
buy and store songs on their devices. Music listeners can simply pay
a nominal fee to gain access to their favorite songs and listen to
them whenever they want. Thereby, mobile cloud music services have
eliminated the issues pertaining to limited storage capacity and the
need to preload electronic devices with songs. In addition, music
listeners can upload their audio content over the cloud to securely
store and access it whenever required. Thereby, mobile cloud music
services have offered a convenient platform for various music
composers and producers to make their audio content available to a
large number of consumers. Mobile cloud music services have
eliminated to requirement of physical distribution channels and hence
have reduced the time required to market their audio content. In
addition, such cloud services have enabled consumers to store,
maintain, streamline and sync their music preferences over various
electronic devices.
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One
of the major factors driving the growth of mobile cloud music market
is the increasing penetration of smart phones. Rising number of smart
phone users have led to higher adoption of the mobile cloud music
services. In addition, with technological advancements including 3G
and 4G networks, consumers can gain high speed access to their audio
content over the cloud. Another factor driving the mobile cloud music
services market is higher availability, accessibility and convenience
offered by such cloud services. Consumers can access and listen to
their favorite songs without buying expensive media players and audio
disks. These factors have led to increasing number of mobile cloud
music service users across the world. Moreover, mobile cloud music
services have enabled music producers to curtail the losses caused
due to illegal downloads and piracy of audio content.
With
cheap access to high quality audio content, illegal selling and
sharing of audio content can be expected to reduce. Despite its
immense benefits, the mobile cloud music services market faces a few
restraints due to factors such as limited smart phone battery life
and high speed internet requirements. Such factors pose a major
restraint to the growth of mobile cloud music services market.
With
increasing opportunities including social networking, offline
playback and cross platform access, the mobile cloud music services
market has been lucrative in recent years. In addition, with reducing
prices of cell phone and internet access, the mobile cloud music
services is expected to experience growth across the world. Some of
the key players in the mobile cloud music market include Apple, Inc.,
Spotify Ltd., Google, Inc., Amazon.com, Inc., MOG, Inc., Rhapsody
International, Inc., Sony Network Entertainment International LLC.,
KKBOX, Inc., Catch Media, Inc., SugarSync, Inc. and Pandora Media,
Inc.
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