Background Music Market Share Surge to New Values for Forecast Year 2020-2030
Market Overview
Background music is becoming a necessary component of nearly all current business infrastructures. The purpose of background music components is to improve the ambiance of a business place. Furthermore, organizations have noticed the marketing component of background music as a way to boost productivity by enhancing brand relationships. Music in the background brings a sense of optimism to business spaces, increasing the shopping experience for customers.
Market Highlights
Background Music market is expected to project a notable CAGR of 6.16% in 2031
Background Music market to surpass USD 3449.78 million by 2031 from USD 1896.73 million in 2021 at a CAGR of 6.16% in the coming years, i.e., 2022-31. During the projected period, the global background music industry is expected to grow at a phenomenal rate. A variety of factors have contributed to its expansion. Vendors in the background music business are continuously increasing their efforts to provide higher-quality services. They are employing sophisticated technology for this aim. This component is causing the global background music market to expand.
Background Music market: Segments
Music Streaming segment to grow with the highest CAGR during 2021-31
Background Music market is segmented by Product type into AV System and Music Streaming. Among these the Music Streaming category dominated the market in 2020. Music streaming allows users to listen to and stream music via internet-connected devices such as smartphones, computers, and laptops. Instant access to items and services, thanks to technological advancements.
Cafes & restaurants segment to grow with the highest CAGR during 2021-31
Background Music market is segmented by End-user into retail stores, cafes & restaurants, leisure & hospitality, public organization, and others. Among these, the cafes & restaurants category dominated the market in 2020. Background music is used in the restaurant to provide a peaceful and relaxing ambiance for customers while they dine and remain. The retail shop category, on the other hand, is rapidly expanding.
Background Music Market: Key Players
Mood Media
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Brand track
Cloud Cover Music
Kasimu
Qsic Pty Ltd.
Open Ear Music
Jukeboxy
Easy on Hold
NSM Music Ltd.
Sunflower Music Company
Background Music market: Regions
Background Music market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and the Middle East, and Africa. Background Music market in North America held the largest market share in the year 2020. The presence of significant market participants in the region can be linked to the region's growth. In the near future, the existence of a significant number of banks is likely to boost the adoption of Background Music technologies in the region. Simultaneously, the development of inorganic techniques to integrate artificial intelligence among Background Music suppliers is likely to boost market growth.
Segmentation
By Product type
AV System
Music Streaming
By End-use
Retail Stores
Cafes & Restaurants
Leisure & Hospitality
Public Organization
Others
Background Music Market Dynamics
Background Music Market Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies Involved in the Market
Value Chain of the Market
Market Drivers and Restraints
Background music is becoming a necessary component of nearly all current business infrastructures. The purpose of background music components is to improve the ambiance of a business place. Furthermore, organizations have noticed the marketing component of background music as a way to boost productivity by enhancing brand relationships. Music in the background brings a sense of optimism to business spaces, increasing the shopping experience for customers.
Market Highlights
Background Music market is expected to project a notable CAGR of 6.16% in 2031
Background Music market to surpass USD 3449.78 million by 2031 from USD 1896.73 million in 2021 at a CAGR of 6.16% in the coming years, i.e., 2022-31. During the projected period, the global background music industry is expected to grow at a phenomenal rate. A variety of factors have contributed to its expansion. Vendors in the background music business are continuously increasing their efforts to provide higher-quality services. They are employing sophisticated technology for this aim. This component is causing the global background music market to expand.
Background Music market: Segments
Music Streaming segment to grow with the highest CAGR during 2021-31
Background Music market is segmented by Product type into AV System and Music Streaming. Among these the Music Streaming category dominated the market in 2020. Music streaming allows users to listen to and stream music via internet-connected devices such as smartphones, computers, and laptops. Instant access to items and services, thanks to technological advancements.
Cafes & restaurants segment to grow with the highest CAGR during 2021-31
Background Music market is segmented by End-user into retail stores, cafes & restaurants, leisure & hospitality, public organization, and others. Among these, the cafes & restaurants category dominated the market in 2020. Background music is used in the restaurant to provide a peaceful and relaxing ambiance for customers while they dine and remain. The retail shop category, on the other hand, is rapidly expanding.
Background Music Market: Key Players
Mood Media
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Brand track
Cloud Cover Music
Kasimu
Qsic Pty Ltd.
Open Ear Music
Jukeboxy
Easy on Hold
NSM Music Ltd.
Sunflower Music Company
Background Music market: Regions
Background Music market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and the Middle East, and Africa. Background Music market in North America held the largest market share in the year 2020. The presence of significant market participants in the region can be linked to the region's growth. In the near future, the existence of a significant number of banks is likely to boost the adoption of Background Music technologies in the region. Simultaneously, the development of inorganic techniques to integrate artificial intelligence among Background Music suppliers is likely to boost market growth.
Segmentation
By Product type
AV System
Music Streaming
By End-use
Retail Stores
Cafes & Restaurants
Leisure & Hospitality
Public Organization
Others
Background Music Market Dynamics
Background Music Market Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies Involved in the Market
Value Chain of the Market
Market Drivers and Restraints
1. EXECUTIVE SUMMARY
2. BACKGROUND MUSIC MARKET
2.1. Product Overview
2.2. Market Definition
2.3. Segmentation
2.4. Assumptions and Acronyms
3. RESEARCH METHODOLOGY
3.1. Research Objectives
3.2. Primary Research
3.3. Secondary Research
3.4. Forecast Model
3.5. Market Size Estimation
4. AVERAGE PRICING ANALYSIS
5. MACRO-ECONOMIC INDICATORS
6. MARKET DYNAMICS
6.1. Growth Drivers
6.2. Restraints
6.3. Opportunity
6.4. Trends
7. CORRELATION & REGRESSION ANALYSIS
7.1. Correlation Matrix
7.2. Regression Matrix
8. RECENT DEVELOPMENT, POLICIES & REGULATORY LANDSCAPE
9. RISK ANALYSIS
9.1. Demand Risk Analysis
9.2. Supply Risk Analysis
10. BACKGROUND MUSIC MARKET ANALYSIS
10.1. Porters Five Forces
10.1.1. Threat of New Entrants
10.1.2. Bargaining Power of Suppliers
10.1.3. Threat of Substitutes
10.1.4. Rivalry
10.2. PEST Analysis
10.2.1. Political
10.2.2. Economic
10.2.3. Social
10.2.4. Technological
11. BACKGROUND MUSIC MARKET
11.1. Market Size & forecast, 2020A-2030F
11.1.1. By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
11.1.2. By Volume (Million Units) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12. BACKGROUND MUSIC MARKET: MARKET SEGMENTATION
12.1. By Regions
12.1.1. North America:(U.S. and Canada), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.1.2. Europe: (Germany, UK, France, Italy, Spain, and Rest of Europe), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.1.3. Asia-Pacific: (China, India, Japan, Australia and Rest of Asia Pacific), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.1.4. Latin America: (Brazil, Mexico, Rest of Latin America), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.1.5. Middle East and Africa, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.2. By Product type: Market Share (2020-2030F)
12.2.1. AV System, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.2.2. Music Streaming, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.3. By End-use: Market Share (2020-2030F)
12.3.1. Retail Stores, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.3.2. Cafes & Restaurants, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.3.3. Leisure & Hospitality, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.3.4. Public Organization, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.3.5. Others, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
13. COMPANY PROFILE
13.1. Mood Media
13.1.1. Company Overview
13.1.2. Company Total Revenue (Financials)
13.1.3. Market Potential
13.1.4. Global Presence
13.1.5. Key Performance Indicators
13.1.6. SWOT Analysis
13.1.7. Product Launch
13.2. Brandtrack
13.3. Cloud Cover Music
13.4. Kasimu
13.5. Qsic Pty Ltd.
13.6. Open Ear Music
13.7. Jukeboxy
13.8. Easy on Hold
13.9. NSM Music Ltd.
13.10. Sunflower Music Company
Consultant Recommendation
**The above-given segmentations and companies could be subjected to further modification based on in-depth feasibility studies conducted for the final deliverable.
2. BACKGROUND MUSIC MARKET
2.1. Product Overview
2.2. Market Definition
2.3. Segmentation
2.4. Assumptions and Acronyms
3. RESEARCH METHODOLOGY
3.1. Research Objectives
3.2. Primary Research
3.3. Secondary Research
3.4. Forecast Model
3.5. Market Size Estimation
4. AVERAGE PRICING ANALYSIS
5. MACRO-ECONOMIC INDICATORS
6. MARKET DYNAMICS
6.1. Growth Drivers
6.2. Restraints
6.3. Opportunity
6.4. Trends
7. CORRELATION & REGRESSION ANALYSIS
7.1. Correlation Matrix
7.2. Regression Matrix
8. RECENT DEVELOPMENT, POLICIES & REGULATORY LANDSCAPE
9. RISK ANALYSIS
9.1. Demand Risk Analysis
9.2. Supply Risk Analysis
10. BACKGROUND MUSIC MARKET ANALYSIS
10.1. Porters Five Forces
10.1.1. Threat of New Entrants
10.1.2. Bargaining Power of Suppliers
10.1.3. Threat of Substitutes
10.1.4. Rivalry
10.2. PEST Analysis
10.2.1. Political
10.2.2. Economic
10.2.3. Social
10.2.4. Technological
11. BACKGROUND MUSIC MARKET
11.1. Market Size & forecast, 2020A-2030F
11.1.1. By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
11.1.2. By Volume (Million Units) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12. BACKGROUND MUSIC MARKET: MARKET SEGMENTATION
12.1. By Regions
12.1.1. North America:(U.S. and Canada), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.1.2. Europe: (Germany, UK, France, Italy, Spain, and Rest of Europe), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.1.3. Asia-Pacific: (China, India, Japan, Australia and Rest of Asia Pacific), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.1.4. Latin America: (Brazil, Mexico, Rest of Latin America), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.1.5. Middle East and Africa, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.2. By Product type: Market Share (2020-2030F)
12.2.1. AV System, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.2.2. Music Streaming, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.3. By End-use: Market Share (2020-2030F)
12.3.1. Retail Stores, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.3.2. Cafes & Restaurants, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.3.3. Leisure & Hospitality, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.3.4. Public Organization, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.3.5. Others, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
13. COMPANY PROFILE
13.1. Mood Media
13.1.1. Company Overview
13.1.2. Company Total Revenue (Financials)
13.1.3. Market Potential
13.1.4. Global Presence
13.1.5. Key Performance Indicators
13.1.6. SWOT Analysis
13.1.7. Product Launch
13.2. Brandtrack
13.3. Cloud Cover Music
13.4. Kasimu
13.5. Qsic Pty Ltd.
13.6. Open Ear Music
13.7. Jukeboxy
13.8. Easy on Hold
13.9. NSM Music Ltd.
13.10. Sunflower Music Company
Consultant Recommendation
**The above-given segmentations and companies could be subjected to further modification based on in-depth feasibility studies conducted for the final deliverable.
