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Background Music Market

Background Music Market

Background Music Market - Global Industry Assessment & Forecast

Number Of Pages # Pages:

148

Base Year:

2021

Date

Jul - 2022

Format:

PDF XLS PPT

Report Code:

VMR-1713

Segments Covered
  • By Type AV System Equipment, In-App & Web
  • By End Use Industry Hotels & Motels, Retail Stores, Cafes & Restaurants, Workplace, Fitness & Recreational Sport Centers, Spas & Wellness Centers, Beauty & Hair Salons, Other Industries
  • By Region North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Snapshot
Forecast YearsForecast Years: 2022 - 2028
Historical YearsHistorical Years: 2016 - 2021
Revenue 2021Revenue 2021: USD 1,428.1 Million
Revenue 2028Revenue 2028: USD 1,902.8 Million
Revenue CAGRRevenue CAGR (2022 - 2028): 4.9%
Fastest Growing Region Fastest Growing Region (2022 - 2028) Asia Pacific
Largest Region Largest Region (2021): North America
Customization Offered
  • Cross-segment Market Size and Analysis for Mentioned Segments
  • Additional Company Profiles (Upto 5 With No Cost)
  • Additional Countries (Apart From Mentioned Countries)
  • Country/Region-specific Report
  • Go To Market Strategy
  • Region Specific Market Dynamics
  • Region Level Market Share
  • Import Export Analysis
  • Production Analysis
  • Others Request Customization Speak To Analyst
Background Music Market Share

Market Synopsis:

The Global Background Music Market was valued at USD 1,428.1 Million in the year 2021 and is projected to reach a value of USD 1,902.8 Million by the year 2028. The Global Market is anticipated to grow to exhibit a Compound Annual Growth Rate (CAGR) of 4.9% over the forecast period.

The Background Music is a musical performance in which the music is not intended to be the listeners' primary focus but rather its content, personality, and volume level are selected to influence human behavioral and emotional responses such as relaxation, distraction, and concentration. Typically, Background Music is played in areas without an audience, including vacant hallways and dressing rooms. Additionally, virtual worlds and MMORPGs employ background music. With several tiny speakers, the Background Music is often played at a low volume. Even varied environments like airports and doctor's offices employ it these days. As background music, a variety of musical genres are played.

Background Music Market Size, 2021 To 2028 (USD Million)

The need for Background Music is rising due to accessible music subscription services and various online music genres, fuelling the industry's worldwide expansion. As a result of the producers and music service providers' and artists' availability of royalty-free background music, the market for this type of music is expanding globally and reaching more customers. The use of Background Music services by malls, retail stores, elevators, and other establishments to provide clients with relaxing shopping environments is predicted to support the expansion of the worldwide Background Music industry. Since it acts as a tool for drawing customers' attention, Background Music is significant in the hospitality industry. Online services allow customers to buy meals from the convenience of their homes, significantly reducing the number of people eating out.

Restaurants are responding to this problem by offering broad menus, in-house entertainment, good service, and other value-added services. Background Music systems also play a significant part in improving the customer experience. The worldwide Background Music Market is growing. However, there are certain limitations. The need for Background Music is concerned with the expansion of digital music. The industry for Background Music is struggling to expand as more and more people use digital music services. The market for Background Music may be badly impacted since Background Music does not always provide a calming experience. Sometimes it might produce distractions and unneeded noise pollution. Another element anticipated to offer lucrative opportunities for the worldwide market during the forecast period is manufacturers' increasing investment in introducing novel products.

Market Segmentation:

The Background Music Market is segmented based on the segment Type, End-User, and Region. Based on the segment Type, the market is sub-segmented as AV System Equipment and In-App & Web. On the other hand, based on the segment End-User, the market is sub-segmented as Hotels & Motels, Retail Stores, Cafes & Restaurants, Workplaces, Fitness & Recreational Sports Centers, Spa & Wellness Centers, Beauty & Hair Salons, and Other Industries.

Below tree is interactive. You can click the nodes to get more information.

Based on Type:

On the basis of Type segment, the market is sub-segmented as AV System Equipment and In-App & Web. The AV System Equipment sub-segment had a significant market share and is anticipated to expand at the most excellent Compound Annual Growth Rate (CAGR) during the forecast period. Health clubs and the hospitality industry demand drives the AV system equipment market. The International Health, Racquet & Sports Club Association (IHRSA) estimates that 201 thousand health clubs and other facilities serve 174 million members. This gives the growing gym and health club sector more legitimacy and creates several opportunities for market expansion. Additionally, owners employ music during workouts because of its value in lowering health club fatigue, which has increased the usage of Background Music systems.

Based on End-Use Industry:

On the basis of the End-Use Industry segment, the market is sub-segmented as Hotels & Motels, Retail stores, Cafes & Restaurants, Workplaces, Fitness & Recreational Sports Centers, Spas & Wellness centers, Beauty & Hair Salons, and Other Industries. The Cafes & Restaurants sub-segment held the most significant market share during the anticipated period. This surge is because the Cafes & Restaurants sub-segment plays Background Music to provide a calm and relaxing atmosphere for customers to dine. Furthermore, to give diners a relaxed and unwinding atmosphere while they eat and stay, Background Music is played throughout the restaurant. However, the Retail Stores sector is also expanding quickly.

North America is projected to Grow at the Highest CAGR During the Forecast Period

North America is growing at the highest Compound Annual Growth Rate (CAGR) during the forecast period. As a result, North America will have the most significant portion of the market throughout the forecast period. The U.S.'s expanding Background Music consumption across various end-use sectors is responsible for the region's expansion in North America. A growing number of music subscription services are also helping to support the Background Music sector in North America. In addition, several banks in the area are expected to accelerate the adoption of Background Music technology shortly. Simultaneously, creating inorganic methods for Background Music providers to include artificial intelligence will probably boost industry expansion.

Competitive Landscape:

The key players in the Global Background Music Market include- USEN CORPORATION, Mood Media, Sirius XM Radio Inc., TouchTunes Music Corporation, PlayNetwork Inc., Imagesound Limited, NSM Music, Music Concierge, Rockbot, Almotech Limited, and others.

Segmentation of the Global Background Music Market:

Parameter Details
Segments Covered
  • Type (AV System Equipment, In-App & Web)
  • End Use Industry (Hotels & Motels, Retail Stores, Cafes & Restaurants, Workplace, Fitness & Recreational Sport Centers, Spas & Wellness Centers, Beauty & Hair Salons, Other Industries)
  • Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa)
Regions & Countries Covered
  • North America - (U.S., Canada, Mexico)
  • Europe - (U.K., France, Germany, Italy, Spain, Rest Of Europe)
  • Asia Pacific - (China, Japan, India, South Korea, South East Asia, Rest Of Asia Pacific)
  • Latin America - (Brazil, Argentina, Rest Of Latin America)
  • Middle East & Africa - (GCC Countries, South Africa, Rest Of Middle East & Africa)
Companies Covered
  • USEN CORPORATION
  • Mood Media
  • Sirius XM Radio Inc.
  • TouchTunes Music Corporation
  • PlayNetwork Inc.
  • Imagesound Limited
  • NSM Music
  • Music Concierge
  • Rockbot
  • Almotech Limited
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis

Background Music Market to Reach Valuation of USD 1,902.8 Million by 2028 – Rising Demand from the Hospitality Sector Drives the Market
In terms of revenue, the Global Background Music Market is expected to reach USD 1,902.8 Million by 2028, growing at a Compound Annual Growth Rate (CAGR) of 4.9% from 2022 to 2028. Key Highlights from Report: Based on the Type segment, the Background Music Market is sub-segmented into AV System Eq...
FAQ
Frequently Asked Question
  • The global Background Music valued at USD 1,428.1 Million in 2020 and is expected to reach USD 1,902.8 Million in 2028 growing at a CAGR of 4.9%.

  • The prominent players in the market are USEN CORPORATION, Mood Media, Sirius XM Radio Inc., TouchTunes Music Corporation, PlayNetwork Inc., Imagesound Limited, NSM Music, Music Concierge, Rockbot, Almotech Limited.

  • The market is project to grow at a CAGR of 4.9% between 2021 and 2028.

  • The driving factors of the Background Music include

    • A ‘Valued-Added Service’ to Influence Customer Psychology

  • North America was the leading regional segment of the Background Music in 2020.