Market Snapshot:
Background music has been highly used to play in various major users such as retail stores, elevators, public transit and malls. Moreover, it plays an important role in modern commercial and residential spaces. This kind of music is intended for passive listening and helps in improving the ambience of places and also offers positive influences a customer's mood, resulting in better shopping experiences for customers and retailers
Highlights from Background Music Market Study
Attributes | Details |
---|
Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
CAGR | 6.1% |
The key Players profiled in the report are Almotech Media Solutions (Ireland), Imagesound (United Kingdom), Mood Media (United States), NSM Music Group (United Kingdom), CSI Music Services (Canada), Easy On Hold (United States), HIBOU MUSIC (France), Nimbletank (United Kingdom) and SBA Music (Australia). Additionally, other players that are part of this comprehensive study are Soundjack (United Kingdom), Xenon Music Media (Netherland), Usen Corporation (Japan), TouchTunes (United States) and Sunflower Music (United Kingdom).
Geographic Breakdown and Segment Analysis
The Global Background Music market presents a comprehensive analysis of the Background Music market by end-user/application (Retail Stores, Restaurants, Healthcare & Hospitality, Public Organizations, Workplace and Others), and by geography (North America, South America, Europe, Asia-Pacific and MEA) along with country level break-up. This section of our report presents a realistic picture of the Global Background Music industry. Investors and Players can easily understand the inherent opportunities and challenges for their products in geographical region of interest.
For instance, while the holds majority of market share of the Background Music market
Analyst at AMA have segmented the market study of Global Background Music market by Type, Application and Region.
Influencing Trend:
Growing demand for cloud-based solutions for background music
Market Growth Drivers:
Increasing use of BGM in public spaces and Growing popularity of music streaming services
Challenges:
Rapid changes in technology
Restraints:
Rising Licensing and copyright issues
Opportunities:
Adoption of Artificial Intelligence (AI) in Music Composition
Market Developments Activities:
In September 2021, Mood Media, acquired PlayNetwork from Octave Group. PlayNetwork is a global music technology partner and provider of audiovisual systems that support customer experiences for brands worldwide. This acquisition expanded the range of product offerings of the company.
In May 2020, SiriusXM teamed up with Calm, a popular meditation and mindfulness app, to launch The Calm Channel. The new channel features soothing music, tranquil soundscapes, and mindfulness meditations to help listeners reduce stress and improve mental wellbeing. The launch of The Calm Channel is part of SiriusXM's efforts to expand its content offerings and provide subscribers with high-quality entertainment and wellness content.
The market for background music is highly competitive due to the presence of a diverse range of players offering various background music services, including in-store music, streaming music, and music for public spaces. As businesses become more aware of the importance of creating an engaging customer experience, the background music market is expected to grow in the coming years. Thus, this growth is likely to attract new players to the market and spur innovation among existing players, as they strive to maintain a competitive edge.
Key Target Audience
New Entrants/Investors, Strategic Business Planners, Government Regulatory and End-Use Industries