Background Music Market Report Overview
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The global background music market size was USD 1855.35 million in 2021 and the market is projected to touch USD 3865.92 million by 2032 at a CAGR of 6.9% during the forecast period.
Background music refers to the audio that is played in the background of various settings, such as movies, TV shows, restaurants, stores, or even in everyday life. Its purpose is to enhance the atmosphere or mood of a particular environment without being the main focus of attention. The goal is usually to create a certain ambiance, evoke emotions, or set a tone without distracting from the main activity or conversation taking place.
The demand for background music has been consistently growing, driven by advancements in technology, shifts in consumer preferences, and the evolving nature of the music industry. Businesses increasingly recognize the impact of background music on customer experience, mood, and ambiance. There is a trend towards more customized and personalized music experiences. Businesses want to tailor music playlists to match their brand identity and target audience.
COVID-19 Impact: Pandemic Hampered the Market Demand Due to Lockdown Restrictions
The global COVID-19 pandemic has been unprecedented and staggering, with market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.
The COVID-19 pandemic had a profound impact on various industries, including the music industry. With lockdowns and restrictions on public gatherings, live events, including concerts and festivals, were severely impacted. This had a ripple effect on musicians, event organizers, and associated industries. Changes in consumer behaviour, with more people working and spending leisure time at home, might have influenced the demand for background music in various settings, including retail stores, restaurants, and other public spaces. Businesses and services providing background music may have needed to adapt to the changing landscape. This could involve offering new services, adjusting licensing agreements, or incorporating new technologies to meet the evolving needs of clients and consumers. The economic fallout of the pandemic could have influenced the spending capacity of businesses, potentially affecting their investment in music services. Events and gatherings, where background music is a common feature, were cancelled or postponed. This impacted the market, as events are significant contributors to the demand for professional audio and music services.
Latest Trends
"Streaming Services Domination to Fuel Market Growth"
The rise of streaming services like Spotify, Apple Music, and others has revolutionized how people consume music. This shift from physical formats and downloads to streaming has also influenced the background music market. Businesses often prefer subscribing to these services for their background music needs due to the vast libraries and convenience. Businesses now have the ability to curate and customize playlists for their specific environments. This personalization allows for a better fit with the brand image and the target audience. Some companies are incorporating artificial intelligence and data analytics to optimize their music services strategies. AI algorithms can analyze customer behavior and preferences to create playlists that resonate with the target audience.
Background Music Market Segmentation
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- By Type Analysis
According to type, the market can be segmented into Incidental Music, Furniture Music, Elevator Music, Internet delivered background Music, Video Game & Blog Music, Others.
- By Application Analysis
Based on application, the market can be divided into Video Game & Blog, Web page, others.
Driving Factors
"Increasing Demand in Retail and Hospitality to Drive Market Growth"
Retail stores, restaurants, hotels, and other businesses recognize the importance of creating a pleasant atmosphere for customers. Background music plays a crucial role in enhancing the overall experience, leading to background music market growth in these sectors. Technological advancements, such as streaming services, curated playlists, and digital distribution platforms, have made it easier for businesses to access and manage music services. Cloud-based solutions and digital platforms offer flexibility and ease of use. Integration with other technologies, such as artificial intelligence (AI) and smart speakers, is becoming more prevalent. Businesses are exploring ways to use technology to automate playlist creation, adjust music based on crowd dynamics, and provide a seamless experience.
"Focus on Customer Experience to Accelerate Market Demand"
Businesses across various industries are increasingly focusing on enhancing customer experience. Background music contributes to creating a positive and immersive environment, encouraging customers to spend more time in a retail store or restaurant. The ability to customize and personalize music playlists based on the brand, target audience, and specific occasions is a significant driver. Businesses are looking for solutions that allow them to tailor the music to match their brand identity and customer demographics. The popularity of music streaming services has influenced the music market. Businesses often leverage streaming platforms to access a vast library of music content and create playlists that suit their brand image.
Restraining Factors
"Licensing and Copyright Issues to Restrict Market Growth "
Background music providers need to navigate complex licensing agreements and copyright issues. Compliance with copyright laws can be challenging and may limit the availability of certain music. Businesses, especially small and medium-sized enterprises, may have budget constraints when it comes to licensing background music. The cost of obtaining licenses for popular or high-quality music can be a significant factor.
Background Music Market Regional Insights
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"North America Anticipated to Drive Market Expansion owing to Presence of Key Players "
North America holds leading position in background music market share. The USA has been a significant player in the global music industry, including music services. The region has a robust entertainment industry, and many major music streaming services and companies providing background music solutions are based there. High demand for music services in various industries, including retail, hospitality, and healthcare further boosts market growth in this region.
Key Industry Players
"Adoption Innovative Strategies by Key Players Influencing Market Growth"
Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio.
The top key players in the market are NSM Music, Almotech, Express Melody, Sunflower Music, Usen Corporation, Easy on Hold, PlayNetwork. The strategies to develop new technologies, capital investment in R&D, improve product quality, acquisitions, mergers, and compete for the market competition help them to perpetuate their position and value in the market. Besides, collaboration with other companies & extensive possession over market shares by the key players stimulates market demand.
List of Market Players Profiled
- NSM Music (U.K.)
- Almotech (Ireland )
- Express Melody (Singapore)
- Sunflower Music (U.K.)
- Usen Corporation (Japan)
- Easy on Hold (U.S.)
- PlayNetwork (U.S.)
Report Coverage
This report examines an understanding of the background music market’s size, share, and growth rate, segmentation by type, application, key players, and previous and current market scenarios. The report also collects the market’s precise data and forecasts by market experts. Also, it describes the study of this industry’s financial performance, investments, growth, innovation marks, and new product launches by the top companies and offers deep insights into the current market structure, competitive analysis based on key players, key driving forces, and restraints that affect the demand for growth, opportunities, and risks.
Furthermore, the post-COVID-19 pandemic’s effects on international market restrictions and a deep understanding of how the industry will recover, and strategies are also stated in the report. The competitive landscape has also been examined in detail to provide clarification of the competitive landscape.
This report also discloses the research based on methodologies that define price trend analysis of target companies, collection of data, statistics, target competitors, import-export, information, and previous years’ records based on market sales. Moreover, all the significant factors which influence the market such as small or medium business industry, macro-economic indicators, value chain analysis, and demand-side dynamics, with all the major business players have been explained in detail. This analysis is subject to modification if the key players and feasible analysis of market dynamics change.
REPORT COVERAGE | DETAILS |
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Market Size Value In |
US$ 1855.35 Million in 2021 |
Market Size Value By |
US$ 3865.92 Million by 2032 |
Growth Rate |
CAGR of 6.9% from 2021 to 2032 |
Forecast Period |
2024-2032 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
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What value is the global Background music market expected to touch by 2032?
The global Background music market is expected to touch USD 3865.92 million by 2032.
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What CAGR is the Background music market expected to exhibit by 2032?
The Background music market is expected to exhibit a CAGR of 6.9% by 2032.
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Which are the driving factors of the Background music market?
Increasing demand in retail and hospitality and streaming services domination are the driving factors of the Background music market.
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Which are the top companies operating in the Background music market?
NSM Music, Almotech, Express Melody, Sunflower Music, Usen Corporation, Easy on Hold, PlayNetwork are the top companies operating in the Background music market.