Background Music Market by End-user and Geography - Forecast and Analysis 2021-2025

  • Published: Jun 2021
  • Pages: 120
  • SKU: IRTNTR40481
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The background music (BGM) market has the potential to grow by USD 368.59 million during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 7.27%.

This background music market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by end-user (hospitality, retail, commercial buildings, public infrastructure, and others) and geography (Europe, North America, APAC, MEA, and South America). The background music market report also offers information on several market vendors, including Almotech Media Solutions, AMI Entertainment Network LLC, Imagesound Group, Mood Media Corp., NSM Music, PlayNetwork Inc., Qsic Pty Ltd., Rockbot, Sirius XM Holdings Inc., and SOUNDMACHINE among others.

What will the Background Music Market Size be in 2021?

Background-Music-Market-Market-Size-2020-2025

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Background Music Market: Key Drivers and Trends

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The demand for BGM in retail sector is notably driving the background music market growth, although factors such as low margins for BGM vendors may impede market growth. To unlock information on the key market drivers and the COVID-19 pandemic impact on the background music industry get your FREE report sample now.

  • Background music is proven to influence engagement with the environment and increase the time spent shopping.
  • Soft and slow music has a relaxing effect on shoppers, which leads them to browse longer at stores. BGM, therefore, plays an essential role in creating a positive store experience, which is a significant selling point of BGM subscriptions globally.
  • BGM has several advantages that help businesses retain and attract new customers when compared with generic stores.
  • BGM can help stores build the value of their brand, thereby influencing browsing and purchasing behavior.
  • Several developing nations across APAC and Africa are witnessing rapid economic growth. This has led to an increase in disposable incomes, consequently driving the demand for high-quality goods and services. This will fuel the growth of the retail sector, in turn, fueling the need for background music.
  • BGM influences the cognitive functions of the human brain, such as attention, learning, working memory, and recall ability.
  • It offers positive reinforcement in cognitive functions and can significantly improve learning performance.
  • Specific BGMs set the ambiance or mood of an area. These factors promote their use in public spaces.
  • Public spaces such as gyms, sports centers, and health clubs often play fast-paced music, such as pop, techno, or hard rock music.
  • Although the type of music suited to each workout may differ, rhythmical beats can often improve sports and training performances.
  • With the ease of access to digital audio content, a large number of artists and music producers have started creating music albums with a variety of mixed beats for different types of consumers. This increases the availability of new music content. 

This background music market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. Get detailed insights on the trends and challenges, which will help companies evaluate and develop growth strategies.

Who are the Major Background Music Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Almotech Media Solutions
  • AMI Entertainment Network LLC
  • Imagesound Group
  • Mood Media Corp.
  • NSM Music
  • PlayNetwork Inc.
  • Qsic Pty Ltd.
  • Rockbot
  • Sirius XM Holdings Inc.
  • SOUNDMACHINE

 

The BGM market is fragmented and the vendors are deploying growth strategies such as geographical expansion, increase in production capacities, and upselling of products by upgrading the existing ones to compete in the market. Click here to uncover other successful business strategies deployed by the vendors. 

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Download a free sample of the background music market forecast report for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Background Music Market?

Background-Music-Market-Market-Share-by-Region-2020-2025

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44% of the market’s growth will originate from Europe during the forecast period. The UK, Germany, and Italy are the key markets for background music in Europe. Market growth in Europe will be faster than the growth of the market in other regions.

The growing consumerism and focus on improving customer experience will facilitate the BGM market growth in Europe over the forecast period. To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report.

What are the Revenue-generating End-user Segments in the Background Music Market?

Background-Music-Market-Market-Share-by-End-2020-2025

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The background music market share growth by the hospitality segment will be significant during the forecast period. This segment includes end-users such as cafes, restaurants, hotels, resorts, and tourist centers. The use of BGM in these places enhances customer experience and encourages them to spend more time in these hotels and restaurants. 

Fetch actionable market insights on post COVID-19 impact on each segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the BGM market size.

 

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What are the Key Factors Covered in this Background Music Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive background music market growth during the next five years
  • Precise estimation of the background music market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the background music industry across Europe, North America, APAC, MEA, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of background music market vendors

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Background Music Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 7%

Market growth 2021-2025

$ 368.59 million

Market structure

Fragmented

YoY growth (%)

4.52

Regional analysis

Europe, North America, APAC, MEA, and South America

Performing market contribution

Europe at 44%

Key consumer countries

US, UK, China, Germany, and Italy

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Almotech Media Solutions, Imagesound Group, Mood Media Corp., NSM Music, PlayNetwork Inc., Qsic Pty Ltd., Rockbot, Sirius XM Holdings Inc., AMI Entertainment Network LLC, and SOUNDMACHINE

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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Executive Summary

    Market Landscape

    • Market ecosystem
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2020
    • Market outlook: Forecast for 2020 - 2025

    Five Forces Analysis

    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    Market Segmentation by End-user

    • Market segments
    • Hospitality - Market size and forecast 2020-2025
    • Retail - Market size and forecast 2020-2025
    • Commercial buildings - Market size and forecast 2020-2025
    • Public infrastructure - Market size and forecast 2020-2025
    • Others - Market size and forecast 2020-2025

    Geographic Landscape

    • Geographic segmentation
    • Geographic comparison
    • Europe - Market size and forecast 2020-2025
    • North America - Market size and forecast 2020-2025
    • APAC - Market size and forecast 2020-2025
    • MEA - Market size and forecast 2020-2025
    • South America - Market size and forecast 2020-2025
    • Key leading countries
    • Market opportunity by geography
    • Market drivers
    • Market challenges
    • Market trends

    Vendor Landscape

    • Overview
    • Vendor landscape
    • Landscape disruption

    Vendor Analysis

    • Vendors covered
    • Market positioning of vendors
    • Almotech Media Solutions
    • AMI Entertainment Network LLC
    • Imagesound Group
    • Mood Media Corp.
    • NSM Music
    • PlayNetwork Inc.
    • Qsic Pty Ltd.
    • Rockbot
    • Sirius XM Holdings Inc.
    • SOUNDMACHINE

    Appendix

    • Scope of the report
    • Currency conversion rates for US$
    • Research methodology
    • List of abbreviations

    Research Framework

    Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

    TechnavioINFORMATION SOURCES

    Primary sources

    • Manufacturers and suppliers
    • Channel partners
    • Industry experts
    • Strategic decision makers

    Secondary sources

    • Industry journals and periodicals
    • Government data
    • Financial reports of key industry players
    • Historical data
    • Press releases
    Technavio

    TechnavioDATA ANALYSIS

    Data Synthesis

    • Collation of data
    • Estimation of key figures
    • Analysis of derived insights

    Data Validation

    • Triangulation with data models
    • Reference against proprietary databases
    • Corroboration with industry experts
    Technavio

    TechnavioREPORT WRITING

    Qualitative

    • Market drivers
    • Market challenges
    • Market trends
    • Five forces analysis

    Quantitative

    • Market size and forecast
    • Market segmentation
    • Geographical insights
    • Competitive landscape
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    The background music market growth will increase by $82.22 million during 2019-2024.
    The background music market is expected to grow at a CAGR of 4.55% during 2019-2024.
    Technavio has segmented the background music market by end user (Hospitality, Retail, Commercial buildings, Public infrastructure, and Others) and geographic (North America, Europe, APAC, and South America).
    Almotech Ltd., AMI Entertainment Network LLC, Imagesound Ltd., Mood Media Corp., NSM Music, PlayNetwork Inc., Qsic Pty Ltd., Rockbot Inc., Sirius XM Holdings Inc., SOUNDMACHINE are a few of the key vendors in the background music market.
    Europe will register the highest growth rate of 38.87% among the other regions. Therefore, the background music market in Europe is expected to garner significant business opportunities for the vendors during the forecast period.
    The key factors driving the background music market growth are:
    • Demand for BGM in retail sector
    • Launches of new products
    The background music market vendors should focus on grabbing business opportunities from the hospitality segment as it accounted for the largest market share in the base year.
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