Global Background Music Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
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“Global Background Music Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global background music market report has been segmented on the basis of product type, end-use application, and region.
Global Background Music Market: Overview
Background music is any kind of music played at low volume across various places such as malls, retail stores, transit, elevators, and other public places. This music is intended for passive listening, and it helps to improve ambiance of the place. It also positively affects customer’s mood, resulting in better shopping experiences for the customers and retailers.
Global Background Music Market: Dynamics
Increasing demand for background music, owing to presence of wide variety of music online and affordable subscription services is a key factor expected to drive growth of the global market over the forecast period.
In addition, manufacturers and service provider offers to royalty free background music along with high quality to attract more consumers is another factor further fuel growth of the target market over the forecast period. For instance, Soundstripe offers royalty-free production music at an affordable price.
Moreover, rising demand for background music as an essential part of malls, retail stores, elevators, and other spaces in order to create soothing environment is expected to boost growth of the global market over the forecast period.
Furthermore, increasing manufacturers preference towards providing luxury facilities to consumers is another factor expected to propel growth of the target market over the forecast period.
However, rising adoption of digital music is a key factor expected to restrain growth of the global market over the forecast period. In addition, some disadvantages of background music such as wrong selection of music creates distraction and noise pollution are some other factors expected to hamper growth of the target market over the forecast period.
Ongoing trend observed in the target market is increasing number of concerts and live performances across the globe. This trend is expected to support growth of the target market over the forecast period.
Technological development and innovative product launches coupled with advanced features are some factors expected to create potential revenue opportunities for players operating in the global market over the forecast period.
Increasing investment for innovative product launches by manufacturers is another factor expected to create lucrative opportunities for the global market over the forecast period.
Global Background Music Market: Segment Analysis
Among the product type segments, the AV system segment is expected to dominate in terms of revenue in the global market over the forecast period. In addition, the music streaming segment is expected to register highest CAGR over the forecast period. Music streaming helps consumers to stream and listen to music along with internet connected devices such as mobiles, PCs, and laptops. Increasing technological advancements, instant access to products and services.
Global Background Music Market: Regional Analysis
The market in North America is expected to dominate in the global market in terms of revenue over the forecast period, owing to increasing consumption of background music across various end-use industries in the US. In addition, increasing number of music subscription services across various countries in this region is another factor expected to support growth of the market in this region.
Global Background Music Market Segmentation:
Segmentation by product type:
- Music Streaming
- AV Systems
Segmentation by end-use application:
- Retail Stores
- Entertainment Places
- Public Organizations
- Others (Hospitality sector, Commercial buildings, etc.)
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
- PlayNetwork, Inc.
- TouchTunes Music Corporation
- Sirius XM Holdings, Inc.
- Almotech Ltd.
- Imagesound Ltd.
- Easy on Hold
- Soundnet Ltd. (Soundjack)
- Xenox Music & Media B.V.
- Express Melody
- OpenEar Music
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