Industry Overview of Background Music Market
Background music is a type of recorded sound that is intentionally designed to accompany various visual content, such as films, commercials, and marketing videos, without drawing excessive attention. Its purpose is to influence the emotional and behavioral responses of individuals. Typically, background music is played at a low volume in settings like empty halls, virtual spaces, fitting rooms, and massively multiplayer online role-playing games (MMORPGs), allowing clear communication among multiple speakers. The presence of background music helps create a positive mood, enhances arousal, concentration, and performance in other tasks, and reduces tension, stress, nervousness, and anxiety by providing a soothing experience. Moreover, it contributes to establishing a favorable working environment, minimizing negative moods, fostering creativity, improving sleep quality and cognition, and providing motivation. As a result, background music finds extensive use in entertainment venues and public establishments.
How Big Is the Background Music Market?
The global background music market size reached a value of US$ 1.6 Billion in 2022. It is projected to reach a value of US$ 2.2 Billion by 2028, exhibiting a CAGR of 5.8% during 2023-2028.
Background Music Market Trends and Drivers:
The background music market is experiencing significant growth driven by various factors. The expansion of the media and entertainment sector, along with the increasing demand for affordable digital subscription-based music services, is a primary driver. Furthermore, the widespread adoption of consumer electronic devices such as smartphones, desktops, and iPods is contributing to market growth. The utilization of background music in elevators, residential buildings, retail stores, and malls to create a pleasant shopping environment is another significant factor fueling market growth. Additionally, the hospitality sector, including restaurants, utilizes background music to enhance the atmosphere, encourage longer stays, and influence purchasing decisions. The market is also benefiting from the introduction of beat suite music, which offers free online genres sorted by themes, mood, popularity, and keywords. These advancements are expected to drive the background music market in the forecast period.
Global Background Music Market 2023-2028 Analysis and Segmentation:
Top Key Players covered in this report are: Auracle Sound Ltd., Imagesound, Mood Media LLC, Music Concierge, NSM Music, Open Ear Music, Rockbot, Sirius XM Radio Inc., TouchTunes Music Corporation
The report has segmented the market based on region, type and application.
Type Insights:
- Music Streaming
- AV System Equipment
Application Insights:
- Retail Stores
- Restaurants
- Public Organizations
- Entertainment Places
- Others
Regional Insights:
- North America
- United States
- Canada
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
The key regions covered in the market report are Asia Pacific, Europe, North America, Latin America, Middle East and Africa.
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2023- 2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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