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In 2021, the global audio streaming services market earned revenues of $31.35 billion, which is up 18.8% when compared to 2020.

Growth in 2021 resulted mainly from the great popularity of audio streaming platforms and subscription models, broader availability of fast-speed connections with low latency (e.g., 5G), expansion of these services to new regions, and technological advancements that allow easy streaming from multiple devices. Going forward, the audio streaming services market will continue to grow at double-digit revenue rates during the entire forecast period (2022–2028).