The Digital Music market in United Arab Emirates has been experiencing significant growth in recent years, driven by changing customer preferences and technological advancements.
Customer preferences: Customers in United Arab Emirates are increasingly turning to digital music platforms to access and listen to music. This shift in preference can be attributed to several factors, including convenience, affordability, and the wide variety of music available on these platforms. With the rise of smartphones and high-speed internet connectivity, consumers are now able to stream or download music on the go, without the need for physical music formats such as CDs or cassettes.
Trends in the market: One of the key trends in the Digital Music market in United Arab Emirates is the increasing popularity of streaming services. Streaming platforms offer users access to a vast library of music, allowing them to discover new artists and genres. This trend is further fuelled by the growing adoption of smartphones and the availability of high-speed internet connections, which enable seamless streaming experiences. Additionally, the rise of smart speakers and voice assistants has made it even easier for consumers to access their favorite music through voice commands. Another trend in the market is the emergence of local and regional music streaming platforms. These platforms cater to the specific tastes and preferences of consumers in United Arab Emirates, offering a wide range of Arabic music and content. This localized approach has resonated well with customers, who are seeking culturally relevant music experiences.
Local special circumstances: United Arab Emirates has a rich cultural heritage and a thriving music industry. The country is home to a diverse population, comprising both locals and expatriates from various countries. This multicultural environment has contributed to the demand for a wide range of music genres, including Arabic, Western, and international music. As a result, digital music platforms in United Arab Emirates need to cater to this diverse audience by offering a diverse range of music options.
Underlying macroeconomic factors: The growth of the Digital Music market in United Arab Emirates can also be attributed to favorable macroeconomic factors. The country has a high per capita income and a strong consumer base, which has the purchasing power to access and pay for digital music services. Additionally, the government of United Arab Emirates has been actively promoting the development of the digital economy, which includes the music industry. This support has helped create a favorable environment for the growth of digital music platforms in the country. In conclusion, the Digital Music market in United Arab Emirates is witnessing significant growth, driven by changing customer preferences, technological advancements, and favorable macroeconomic factors. The increasing popularity of streaming services, the emergence of local and regional music platforms, and the diverse cultural environment in United Arab Emirates are key factors contributing to the development of the market. With the continued growth of the digital economy and the increasing adoption of smartphones and high-speed internet connectivity, the Digital Music market in United Arab Emirates is expected to further expand in the coming years.
Data coverage:
The data encompasses B2C enterprises. Figures are based on the Music, Radio & Podcasts market, which comprises all revenues generated by traditional and digital radio advertising, consumer purchases of live music event tickets, all sales of tangible audio recording formats, paid digital downloads of professionally produced single tracks / compilations, ad-supported services, and subscription-based, on-demand streaming services. All monetary figures refer to consumer spending on digital goods or subscriptions in the respective market. This spending factors in discounts, margins, and taxes.Modeling approach / market size:
The market size is determined through a bottom-up approach. We use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., Consumer Insights), as well as performance factors (e.g., user penetration, price per product, usage) to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country-specific industry associations, such as various macroeconomic indicators, historical developments, current trends, and reported performance indicators of key market players. In particular, we consider average prices and annual purchase frequencies.Forecasts:
We apply a variety of forecasting techniques, depending on the behavior of the relevant market. For instance, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption. The main drivers are GDP per capita, consumer spending per capita, and 4G coverage.Additional notes:
The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Consumer Insights data is reweighted for representativeness.
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