Harmonizing Growth: Global Background Music Market Set to Soar Beyond $2.3 Billion by 2031

Wilmington, United States, 2024-Mar-01 — /EPR Network/ —

In an ever-evolving commercial landscape, ambiance plays a pivotal role in shaping customer experiences. Background music, once merely an afterthought, has emerged as a strategic tool for businesses worldwide. According to the latest research report, the global background music market, valued at over US$ 1.5 billion in 2021, is poised for a steady expansion at a Compound Annual Growth Rate (CAGR) of 5.1% from 2022 to 2031. By the end of 2031, analysts project the market to surpass the US$ 2.3 billion mark.

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Key Players and Market Developments
Key players operating in the background music market are focusing on research & development and expansion of product portfolio to attract more customers. Furthermore, numerous manufacturers in the background music market are planning to acquire small-scale companies or work in collaboration with them to gain a competitive share in the global market. USEN CORPORATION, Mood Media, Sirius XM Radio Inc., TouchTunes Music Corporation, PlayNetwork Inc., Imagesound Limited, NSM Music, Music Concierge, Rockbot, and Almotech Limited are the prominent entities operating in this market.

Driving Forces

The burgeoning demand for background music stems from various end-use segments, notably including the hospitality industry, fitness and recreational centers, spas, and corporate spaces. Music, whether soothing melodies or upbeat tunes, enhances ambiance, elevating customer experiences across malls, gyms, restaurants, and hotels. Moreover, a growing recognition of music’s positive impact on employee productivity fuels its integration within corporate environments.

Market players are also strategically acquiring smaller companies or engaging in collaborations to gain a competitive edge. However, challenges such as music piracy hinder the market’s growth trajectory, necessitating robust anti-piracy measures.

Hospitality Sector’s Melodious Influence

In the hospitality sector, background music serves as a potent tool for attracting and retaining customers. As online food ordering gains prominence, restaurants are leveraging background music alongside extensive menus and impeccable service to enhance customer experiences.

Engagement Strategies in Foodservice Outlets

Pubs, cafes, bars, and restaurants are increasingly incorporating background music to enrich consumer engagement. Music not only enhances ambiance but also prolongs consumer dwell time, thereby boosting revenue generation.

Innovative Solutions for Fitness Enthusiasts

The background music market bifurcates into AV system equipment and In-apps web, with the former witnessing significant demand from health clubs and the hospitality sector. Music streaming via in-apps web gains traction in gyms and sports clubs, contributing to a holistic fitness experience.

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Regional Dynamics

The growth of the background music market is propelled by the proliferation of commercial spaces worldwide. Emerging markets, such as the Indian Subcontinent, present lucrative opportunities for market players. The unique ambiance of authentic Indian restaurants contributes to the growth of the Asia Pacific background music market.

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Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

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