Digital music will account for 40 per cent of the global music market by 2012, the latest In-Stat research claims.
The researchers note that this shows significant growth in demand and use of digital music services, which accounted for around 10 per cent of global music sales in 2007, the analysts said in a report published Wednesday.
Mobile music downloads of full tracks are predicted to achieve $4.2 billion in sales by 2012, the report claims. A la carte digital music sales represented $3.05 billion in 2007, they said, up 48 per cent from 2006.
Lack of interoperability due to DRM and weak demand for subscription services were cited as obstacles to online music sales.
These revelations follow the well-reported NPD report of last week which declared iTunes to have become the top US music retailer, and news from JupiterResearch yesterday which claimed digital music sales will halt the decline in European music sales by 2010.