The global electronic music market is set for massive growth, with projections indicating it will double in value to $24.5 billion by 2032, according to a report from Wise Guy Reports.
Key Growth Insights
- Current Market Value (2024): $12.02 billion
- Projected Market Value (2032): $24.5 billion
- Top Genre: House Music ($3.5 billion market value)
Genre Breakdown
- House: $3.5 billion
- Techno: $2.5 billion
- Trance & Drum ‘n’ Bass: $2.3 billion each
- Dubstep: $1.4 billion
Regional Market Insights
- North America leads the global market at $3.5 billion today, expected to hit $7.15 billion by 2032.
- Europe follows closely, projected to grow from $3 billion to $6.1 billion.
Key Market Drivers
- Streaming Services Expansion – Platforms like Spotify, Apple Music, and SoundCloud have significantly expanded dance music’s global reach.
- Festival & Event Growth – Electronic music events and festivals continue to draw massive audiences worldwide.
- Music in New Media – The integration of electronic music in video games and virtual reality enhances its exposure.
- Advancements in Production Tools – AI and accessible music production software are fueling artist growth and industry expansion.
As electronic music continues to evolve, technological advancements and digital platforms will play a crucial role in shaping the future of the industry.