The “Kids Music Learning Apps Market ” 2022-2031 Research Report affords qualitative and quantitative insights into the principal drivers, constraints, opportunities, and challenges influencing world markets growth. The find out about offers complete statistical market records on the leading players, as nicely as income predictions. This market lookup additionally presents statistics on the income boom of numerous regional and country-level markets, as properly as the opposition panorama and unique organization analyses for the projected period.
The global kids music learning apps market held a market value of USD 198.76 Million in 2021 and is estimated to reach USD 584.90 Million by the year 2030. The market is anticipated to register a CAGR of 12.9% during the forecast period. Moreover, the market volume size in 2021 was nearly 4.37 Million subscribers.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3 percent. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
With the increasing inclination towards learning applications, music learning applications have seen a steady rise over the past few years owing to a surge in inclination towards such platforms for children. The driving factors of this industry include high usage of smartphones and smart devices by children, focus on parents to develop their children?s music knowledge, as well as increase accessibility to the applications online.
On the other hand, the increased data breaches and the security concerns are expected to hamper the market growth over the anticipated period. However, the increased advancements in the applications is set to create lucrative opportunities in the near future. For instance, Read Music Pro constitutes nearly 125 exercises for sight-reading, coupled with many quizzes and tools to recall the names in a series of notes.
Growth Influencers:
Increasing awareness about education apps
Music education in the last few years is able to grasp the attention of students all over the world. Elements, such as video conferencing, file sharing, instant messaging, digital whiteboarding are mediums that are used for conveying online music education. The digital music tools including YouTube, digital sheet music, application and platforms, cloud-based systems, are transmuting the music education industry from the traditional music learning process. The rising demand of these apps is due to the rising contribution of the prominent players in the market, in turn, driving the growth for kids music learning apps industry.
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Increasing proliferation of connected and smart devices in e-learning
With the pandemic outbreak, there occurred a rise in usage of smartphones and smart devices in households across the globe. In light of this, it also resulted in the increase in children learning online music. For instance, a survey conducted by the Royal Philharmonic Orchestra, stated that around 38% of the children in the UK commenced learning a musical instrument during the isolation period at home. Thus, such increase in the usage of smart devices and increasing inclination is expected to drive the market growth.
Segments Overview:
The global kids music learning apps market is segmented into instrument type, session type, platforms, learning styles, age group, and pricing model.
By Instrument Type,
? Piano
? Guitar
? Banjo
? Violin
? Others
The guitar segment held the highest market share of more than 30% in 2021 owing to the capability of guitar instruments to perform several music forms such as remix, pop.
By Session Type,
? Solo
? Group
The solo session type segment is projected to achieve the highest growth rate of approximately 13.1%.
By Platforms,
? Web-based
? Mobile
o iOS
o Android
On the basis of mobile segment, the iOS sub-segment is projected to cross the mark of USD 100 Million revenue by 2023.
By Learning Styles,
? Visual (Spatial)
? Aural (Auditory-Musical)
? Verbal (Linguistic)
? Physical (Kinesthetic)
? Logical (Mathematical)
? Social (Interpersonal)
? Solitary (Intrapersonal)
The visual segment held the largest market share of more than 30% in 2021. On the other hand, the social segment held an opportunity of more than USD 50 Million during 2022-2030.
By Age Group,
? <5 Yrs
? 5 – 12 Yrs (Highest CAGR: 13.3%)
? 12 – 21 years
The 5-12 years sub-segment is anticipated to hold the highest growth rate of 13.3% owing to the rising inclination of parents of this age group to enroll children in music schools.
By Pricing Model,
? Freemium Model
? Subscription Model
? Paid Tutorial Service Model
The subscription model held the largest market share of more than 35% in 2021 owing to its numerous benefits pertaining to usage, technical know-how and accessibility.
Regional Overview
By region, the global kids music learning apps market is divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
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The North American market for kids music learning apps is predicted to hold a significant share owing to the increasing automation and digitalization of the music industry in countries such as US.
The European region is anticipated to grow at a substantial rate due to the rising awareness regarding music applications. The Asia Pacific region is also anticipated to grow at a considerable rate owing to the increase in launches of music learning apps for children, such as Sur Sadhana, Riyaz, Riyaz Komal Gandhar, and many others.
Competitive Landscape
Key players operating in the global kids music learning apps market include Musicca, flowkey GmbH, Arobas Music, Musopia, Melodics, My Music Teacher, JoyTunes, Ultimate Guitar. Yokee Music LTD. Yousician, Ubisoft Entertainment SA, among others.
The prominent four players in the market hold approximately 40% of the market share. These market players are investing in collaborations, product launches, mergers, acquisitions, and expansions to sustain in the market. For instance, in April 2021, Yousician raised nearly USD 28 Million to develop effective music education. Through the help of the online platform or app, the company will offer an interactive, gamified approach to learn guitar, ukulele, piano, bass or singing along with a standard syllabus.
The global kids music learning apps market report provides insights on the below pointers:
? Market Penetration: Provides comprehensive information on the market offered by the prominent players
? Market Development: The report offers detailed information about lucrative emerging markets and analyzes penetration across mature segments of the markets
? Market Diversification: Provides in-depth information about untapped geographies, recent developments, and investments
? Competitive Landscape Assessment: Mergers & acquisitions, certifications, product launches in the global kids music learning apps market have been provided in this research report. In addition, the report also emphasizes the SWOT analysis of the leading players.
? Product Development & Innovation: The report provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
? Pricing Analysis: Pricing analysis of various metals and other components used in the manufacturing of kids music learning apps
? Manufacturing Cost Analysis: Cost-share of various components in kids music learning apps
The global kids music learning apps market report answers questions such as:
? What is the market size and forecast of the global kids music learning apps market?
? What are the inhibiting factors and impact of COVID-19 on the global kids music learning apps market during the assessment period?
? Which are the products/segments/applications/areas to invest in over the assessment period in the global kids music learning apps market?
? What is the competitive strategic window for opportunities in the global kids music learning apps market?
? What are the technology trends and regulatory frameworks in the global kids music learning apps market?
? What is the market share of the leading players in the global kids music learning apps market?
? What modes and strategic moves are considered favorable for entering the global kids music learning apps market?
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