Type of Article: MacTech Blog

The global music streaming market to grow at a CAGR [compound annual growth rate] of 14.05% during the period 2017-2021, according to Research and Markets (www.researchandmarkets.com).

According to the research group, one of the major drivers for this market is High growth in mobile ad spending market. Mobile advertising is currently one of the most popular methods of advertising. The increased penetration of smartphones and tablets worldwide is one of the major driving forces for the growth of digital music.

CouponFollow (www.couponfollow.com) has released a report exploring the behaviors and motivations of Millennial smartphone shoppers. The Millennial Smartphone Poll surveyed 1,015 young people between the ages of 20-35 to uncover key factors that influence the purchasing behavior of America’s largest generation.

Global sales of smartphones to end users totaled 366.2 million units in the second quarter of 2017, a 6.7% increase over the second quarter of 2016, according to Gartner, Inc. (www.gartner.com). In the smartphone operating system market, Android extended its lead with 87.7% market share, while iOS accounted for 12.1%, says the research group.

A new study from Juniper Research has found more than half (53%) of global transactions at POS (Point of Sale) will be contactless within 5 years, compared to just 15% this year.

The research group found that adoption in the US would rise sharply over the period, with contactless rising from less than 2% of transactions this year to 34% by 2022. Juniper says that customer dissatisfaction at the slower speeds of chip card transactions, allied to burgeoning contactless infrastructure, would provide further impetus for smartphone-based payments currently dominated by Apple Pay.

The global over-the-top (OTT) devices and services market is expected to reach $165 billion by 2025, according to new data from Research and Markets (www.researchandmarkets.com).

The rising penetration of mobile devices, such as tablets and smartphones, and advancements in consumer electronics devices such as smart TVs, are estimated to drive the demand for OTT content and services amongst the masses over the forecast period, adds the research group.