The Music Recording Global Market Report 2023 by The Business Research Company, provides music recording market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.

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In accordance with The Business Research Company's comprehensive Music Recording Global Market Report 2023, the market exhibited notable growth, ascending from $51.52 billion in 2022 to $54.84 billion in 2023, reflecting a commendable Compound Annual Growth Rate (CAGR) of 6.4%. The dynamic landscape, however, faced an unforeseen challenge in the form of the Russia-Ukraine conflict, disrupting the prospects of global economic recuperation post the COVID-19 pandemic, particularly in the short term. This geopolitical upheaval triggered economic sanctions, a surge in commodity prices, and disruptions in the supply chain, consequently fueling inflation across a spectrum of goods and services, impacting diverse markets worldwide. Despite these challenges, the music recording market is poised for sustained expansion, projected to reach $69.06 billion by 2027, with a CAGR of 5.9%. This anticipated growth underscores the industry's resilience and capacity to adapt amidst geopolitical and economic complexities.

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The music recording market is segmented:

1) Music Recording Market By Type: Record Production, Music Publishers, Record Distribution, Sound Recording Studios

2) Music Recording Market By Application: Mechanical, Performance, Synchronization, Digital, Other Applications

3) Music Recording Market By End-User: Individual, Commercial

4) Music Recording Market By Genre: Rock, Hip hop, Pop, Jazz, Other Genres

The proliferation of mobile technology has markedly enhanced accessibility to music, a trend poised for continued growth in the foreseeable future, thereby propelling the music recording market. This surge is predominantly fueled by escalating internet penetration and the proliferation of smartphones and tablets, particularly in burgeoning economies. In the year 2021 alone, there witnessed a substantial 65% surge in music streaming accounts, underscoring the escalating appetite for music content. Consequently, the heightened demand for music content through mobile platforms is anticipated to exert a beneficial influence on the market landscape throughout the forecast period, indicating a positive trajectory for the industry.

The music recording market report table of contents includes:

1. Executive Summary

2. Report Structure

3. Music Recording Market Characteristics

4. Music Recording Market Product Analysis

5. Music Recording Market Supply Chain

.......

20. Music Recording Market Competitive Landscape

21. Key Mergers And Acquisitions In The Music Recording Market

22. Market Background: Film And Music Market

23. Recommendations

24. Appendix

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