Global Edm Market – Market Reports World

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The global EDM market size was valued at USD 5123.73 Million in 2022 and will reach USD 9146.54 Million in 2028, with a CAGR of 10.14% during 2022-2028.

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 dark—lots of minor keys—but 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.

The EDM market report covers sufficient and comprehensive data on market introduction, segmentations, status and trends, opportunities and challenges, industry chain, competitive analysis, company profiles, and trade statistics, etc. It provides in-depth and all-scale analysis of each segment of types, applications, players, 5 major regions and sub-division of major countries, and sometimes end user, channel, technology, as well as other information individually tailored before order confirmation.

Meticulous research and analysis were conducted during the preparation process of the report. The qualitative and quantitative data were gained and verified through primary and secondary sources, which include but not limited to Magazines, Press Releases, Paid Databases, Maia Data Center, National Customs, Annual Reports, Public Databases, Expert interviews, etc. Besides, primary sources include extensive interviews of key opinion leaders and industry experts such as experienced front-line staff, directors, CEOs, and marketing executives, downstream distributors, as well as end-clients.

In this report, the historical period starts from 2018 to 2022, and the forecast period ranges from 2023 to 2028. The facts and data are demonstrated by tables, graphs, pie charts, and other pictorial representations, which enhances the effective visual representation and decision-making capabilities for business strategy.

Key Companies in the global EDM market covered in Chapter 4:
SoundCloud
Mixcloud
Spotify
Mad Decent
Revealed Recordings
Ministry of Sound
Dim Mak
Ultra Music
Spinnin’ Records
Toolroom Records
OWSLA
Defected Records
Dirtybird Records
Monstercat
Armada Music

In Chapter 12 and Chapter 14.1, on the basis of types, the EDM market from 2018 to 2028 is primarily split into:
House
Techo
Trance
Dubstep
Others

In Chapter 13 and Chapter 14.2, on the basis of the Downstream Industry, 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, history and forecast (2018-2028) of the following regions are covered in Chapters 6, 7, 8, 9, 10, 11, 15:
North America (United States, Canada, Mexico)
Europe (Germany, United Kingdom, France, Italy, Spain)
Asia Pacific (China, Japan, South Korea, India, Southeast Asia)
South America (Brazil, Argentina)
Middle East & Africa (Saudi Arabia, UAE, South Africa)

Outline:
Chapter 1 begins with the EDM market scope and definition, product segment introduction, global overall market size, as well as market dynamics scenarios such as opportunities, challenges, and industry development trends under inflation. It offers a high-level view of the current state of the EDM market and its likely evolution in the short to mid-term and long term.

Chapter 2 provides EDM industry chain analysis, covering raw materials analysis, cost structure, price estimate, and forecast, along with price-impacting factors, downstream channels, and major customers. It aims to help readers to grab insights into product upstream, midstream, and downstream fields.

Chapter 3 depicts EDM industry competitive analysis regarding market concentration rate, saturation rate, feasibility analysis from new entrants, as well as substitute's status and trends. It indicates the developing space and prospects of the current industry.

Chapter 4 analyzes extensive company profiles, comprising company basic info, product or service profiles, and sales, price, value, gross, and gross margin 2018-2023. It incorporates the EDM market ranking, benchmarks, and company business portfolio.

Chapter 5 presents trade statistics of import and export volume from 2018-2023, demonstrating domestic and international market comparisons in specific countries.

Chapters 6-10 highlight EDM market status at the regional and country levels, including 5 major regions of North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. The region and country list in the sample is only for reference, and it can be adjusted as required.

Chapter 11 involves geographical market figures of sales, value, market share, and growth rate. Economic, social, environmental, technological, and political factors have been taken into consideration while assessing the growth of each specific region.

Chapters 12-13 evaluate the EDM market based on different types and applications. It focuses on sales and value of 2018-2023 from both vertical and horizontal perspectives.

Chapters 14-15 elaborate on the EDM market forecast data from 2023-2028, segmented by types and applications, regions, and major countries, helping readers to know future aspects and growth trends.

Chapter 16 ends with an elaboration of data sources and research methodology. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.