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Market Overview of Global EDM market:
According to our latest research, the global EDM market looks promising in the next 5 years. As of 2022, the global EDM market was estimated at USD 5123.73 million, and it's anticipated to reach USD 9146.54 million in 2028, with a CAGR of 10.14% during the forecast years.
Electronic dance music (also known as EDM, dance music, club music or simple dance) is a series of electronic music types of percussion, mainly used in nightclubs, carnivals and festivals. It is usually played by DJs who create seamless track selections, called mixes, from one recording to another.
The overall market value of the electronic dance music industry has hit a new low. The current global value of the industry is at a low, the likes of which were last seen a decade ago. Over the past ten years, the value of the EDM industry has seen consistent growth. But the onset of the pandemic has proved to be a major setback, with the industry's value over the past year dropping.
Unsurprisingly, the biggest factor in this decline has been the shutdown of the live music industry. The closure of venues and cancellation of festivals saw a loss. Another factor being reported is the decline in the relevance of dance music. In the absence of dance floors and spaces where dance music is usually consumed and supported, the share of electronic music within the value of all recorded music dropped.
On the flip side, however, there has been significant growth in other markets such as the software and hardware industries and online markets. Spurred by DJs having to play from home during the lockdown, the value of the software and hardware industry boomed to an all-time high.
With countries with major markets slowly reopening their live music sectors, clubs and festivals are mostly expected to recover. Other opportunities born from a lockdown are also expected to contribute to the recovery of the industry as a whole. This includes the recent merging of the electronic music industry with the fashion and luxury brands industry, as seen through labels such as Chanel, Prada, and LVMH collaborating with electronic music artists and DJs to soundtrack their campaigns and runway shows.
Strength
A number of cultures and languages produce electronic dance music. Due to the commercialization of electronic dance music, its demand is increasing. Electronic Dance Music is very popular among millennials also their stars and artists are increasingly making more money than other types of music. Moreover, since 2010, live festivals and carnivals have been the driving force behind thriving EDM market. The annual trend of Tomorrowland and festival like Electric Daisy Carnival is expected to boost the electronic dance music market.
YouTube has been a booster to the electronic dance music market by incorporating subscriptions in different areas. Various social media platform like YouTube and Instagram makes the market more competitive where user can virtually experience their favorite DJs. These platforms leverage tremendous support to less experienced DJs who are new to the industry, which drives the electronic dance music market.
Weakness
EDM market is primarily experiencing falls due to the recent COVID19 pandemic and social distancing norms. Record falling in DJs earning and shutting down of numerous nightclubs is a major concern that spells a bleak future for the EDM market. There are stringent government policies in many countries to adhere to lockdown which further act as a deterrent to the growth of the electronic dance music market
Region Overview:
In 2022, the share of the EDM market in Europe stood at 36.62%.
Company Overview:
Spotify, SoundCloud, Ultra Music, Ministry of Sound and Monstercat are the five key players in the global EDM market. These companies have shown consistent growth in revenue, larger volumes of sales and a prominent presence in terms of share in the global Electronic dance music market in the past 5 years.
Spotify
Spotify is a Swedish audio streaming and media services provider founded on 23 April 2006 by Daniel Ek and Martin Lorentzon. It is one of the largest music streaming service providers with over 406 million monthly active users, including 180 million paying subscribers, as of December 2021.
SoundCloud
As the world's largest music and audio platform, SoundCloud lets people discover and enjoy the greatest selection of music from the most diverse creator community on earth. Since launching in 2008, the platform has become renowned for its unique content and features, including the ability to share music and connect directly with artists, as well as unearth breakthrough tracks, raw demos, podcasts and more. This is made possible by an open platform that directly connects creators and their fans across the globe. Music and audio creators use SoundCloud to both share and monetise their content with a global audience, as well as receive detailed stats and feedback from the SoundCloud community.
Segmentation Overview:
Among different product types, House segment is anticipated to contribute the largest market share in 2027.
House
Emerging from Chicago's club music scene, house music was a largely instrumental sound that featured repetitive disco rhythm with percussion crafted on a drum machine and various percussive instruments for a Latin or soul feel. One of its many subgenres, acid house, featured altered drums with a distinct "squelching" sound. Frankie Knuckles and other Chicago-area DJs are credited with launching house.
Techo
Early electronica artists like Giorgio Moroder and Kraftwerk were pioneers of techno music's continuous, otherworldly sound, driven by a repetitive, common beat under synthesizers and other electronic gear. Its sound evolved almost constantly during the 1980s and 1990s, sprouting offshoots in Chicago, Detroit, London, and Germany; early media coverage of EDM used "techno" as a catch-all term for the music scene.
Trance
As the name suggests, trance music is intended to put the dancer into a trance-like state of consciousness. Producers typically build trance tracks around a single chord, melodic variations, and layered glimmers of sounds, including vocals and percussion. It's one of the few EDM genres that stands up to listening when you're off the dance floor. Its major artists include DJ Armin van Buuren, Paul Van Dyk, Tiesto, Paul Oakenfold, and John Digweed.
Dubstep
Dubstep emerged from London in the late 2000s, spawned from both the stripped-down sound of Jamaican dub and drum and bass. The tone is generally darklots of minor keysbut its distinguishing feature is its heavy bassline, which rumbles and wobbles through each track. Notable dubstep artists include Skrillex, Diplo, and Major Lazer.
Application Overview:
The market's largest segment by application is the segment Clubs and Festivals, with a market share of 46.35% in 2022.
This report covers a research time span from 2018 to 2028, and presents a deep and comprehensive analysis of the global EDM market, with a systematical description of the status quo and trends of the whole market, a close look into the competitive landscape of the major players, and a detailed elaboration on segment markets by type, by application and by region.
Key Takeaways from the Global EDM Market Report:
Market Size Estimates: EDM market size estimation in terms of value and sales volume from 2018-2028
Market Trends and Dynamics: EDM market drivers, opportunities, challenges, and risks
Macro-economy and Regional Conflict: Influence of global inflation and Russia & Ukraine War on the EDM market
Segment Market Analysis: EDM market value and sales volume by type and by application from 2018-2028
Regional Market Analysis: EDM market situations and prospects in North America, Asia Pacific, Europe, Latin America, Middle East, Africa
Country-level Studies on the EDM Market: Revenue and sales volume of major countries in each region
EDM Market Competitive Landscape and Major Players: Analysis of 10-15 leading market players, sales, price, revenue, gross, gross margin, product profile and application, etc.
Trade Flow: Import and export volume of the EDM market in major regions.
EDM Industry Value Chain: EDM market raw materials & suppliers, manufacturing process, distributors, downstream customers
EDM Industry News, Policies & Regulations
Key players in the global EDM market are covered in Chapter 12:
Spinnin' Records
Dirtybird Records
Ministry of Sound
Dim Mak
Spotify
Revealed Recordings
Defected Records
Mad Decent
Ultra Music
Mixcloud
Toolroom Records
OWSLA
SoundCloud
Armada Music
Monstercat
In Chapter 2 and Chapter 15.1, based on types, the EDM market from 2018 to 2028 is primarily split into:
House
Techo
Trance
Dubstep
Others
In Chapter 3 and Chapter 15.2, based on applications, the EDM market from 2018 to 2028 covers:
Software and Hardware Sales
Music Sales and Streaming
DJ and Artist Earnings
Clubs and Festivals
Others
Geographically, the detailed analysis of consumption, revenue, market share and growth rate of the following regions are covered in Chapter 7, 8, 9, 10, 11, 15.3, 15.4:
North America (Covered in Chapter 7)
United States
Canada
Asia-Pacific (Covered in Chapter 8)
China
Japan
India
South Korea
Southeast Asia
Australia
Others
Europe (Covered in Chapter 9)
Germany
France
UK
Italy
Spain
Russia
Poland
Others
Latin America (Covered in Chapter 10)
Mexico
Brazil
Argentina
Others
Middle East and Africa (Covered in Chapter 11)
GCC Countries
Africa
Others
The data of this research report is mainly obtained from industry associations, magazines, press releases, national customs, annual reports of enterprises, expert interviews, paid databases and other channels with authority. It also provides scientific forecasts of the industry's core development indicators through professional analysis and forecasting models.
In short, whatever role you take in this industry value chain, this report will help you or your company to acquire a systematic and in-depth understanding of the industry.
Chapter Outline
This report consists of 16 chapters. Below is a brief guideline to help you quickly grasp the main contents of each chapter:
Chapter 1 starts the report with an overview of the EDM market, as well as the definitions of the target market and the subdivisions. Through the presented global market size, regional market sizes, and segment market shares, you will be able to draw an overall and comprehensive picture of the market situation. Meanwhile, the research method and data source will be shared in this chapter.
Chapter 2 and Chapter 3 breaks down the market by different types and applications, with historic data presented in metrics of sales volume, revenue, market share and growth rate.
Chapter 4 elaborates on market dynamics and future trends in the industry, which contains an in-depth analysis of market drivers, opportunities, challenges, and risks. Other essential factors that will have a major impact on the market, i.e., industry news and policies in recent years, global inflation, and regional conflict, are also taken into consideration.
Chapter 5 compares the sales volume and revenue of the major regions across the globe, which enables the readers to understand the regional competitive pattern.
Chapter 6 is the analysis of the trade flow. Import volume and export volume are revealed on a regional level.
Chapters 7-11 focus on country-level studies. Data from the major countries in each region are provided, showing the current development of the industry in different countries. Besides, you will also find qualitative trends analysis under global inflation under each of the 6 regions.
Chapter 12 first up presents the competitive landscape by displaying and comparing the revenues, sales volumes, and market shares of the top players in the market, followed by a company-by-company analysis of all the major market participants with introductions of their products, product applications, company profiles, and business overview. In addition, their competitiveness is manifested through numbers of sales volume, revenue, price, gross and gross margin.
Chapter 13 looks into the whole market industrial chain, ranging from the upstream key raw materials and their suppliers to midstream distributors and downstream customers, with influences of global inflation taken into consideration.
Chapter 14 is perfect for those who wish to develop new projects in the industry. This chapter sheds a light on industry entry barriers and gives suggestions on new project investments.
Chapter 15 forecasts the future trend of the market from the perspective of different types, applications, and major regions.
Chapter 16 is the conclusion of the report which helps the readers sum up the main findings and insights.
Years considered for this report:
Historical Years: 2018-2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2023-2028