Background Music Market Size to grow by USD 527.2 million between 2024-2028
According to a research report “ Background Music Market” by Product Type (Music streaming, AV system) End-user (Hospitality, Retail, Commercial buildings, Public infrastructure, Others) Geography (Europe, North America, APAC, Middle East and Africa, South America)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 527.2 million, at a CAGR of over 8.76% during the forecast period. Background Music (BGM) plays a pivotal role in enhancing the shopping experience for customers in both physical retail stores and online platforms. Research indicates that the selection of appropriate BGM, in terms of tempo and rhythm, significantly influences consumer engagement and prolongs their stay in the shopping environment. Soft and slow music, for instance, creates a relaxing ambiance, encouraging shoppers to browse for extended periods. From a business perspective, BGM offers several advantages over generic stores. It contributes to establishing a branded shopping experience and environment. Moreover, it sets the pace at which customers navigate through the store, optimizing their journey and improving overall productivity. Additionally, BGM provides a stress-relieving mood, which not only boosts employee morale but also increases sales and revenue. Furthermore, it enhances customer re-visits and facilitates customer marketing efforts. In the competitive landscape of retail, where e-commerce is increasingly dominating the market, businesses are focusing on brand creation and customer retention strategies to expand their sales and revenues. BGM subscriptions are a valuable investment in this regard, offering a unique selling proposition and contributing to a positive shopping experience.
Browse market data tables, figures, and in-depth TOC on “Background Music Market” by Product Type (Music streaming, AV system) End-user (Hospitality, Retail, Commercial buildings, Public infrastructure, Others) Geography (Europe, North America, APAC, Middle East and Africa, South America) Global Forecast to 2028. Download Free Sample
By Product Type, the Music streaming segment is projected to dominate the market size in 2024
In the hospitality industry, background music (BGM) plays a pivotal role in enhancing customer experience and prolonging their stay in establishments such as cafes, restaurants, hotels, resorts, and tourist centers. Sound branding, an experiential design area, is increasingly gaining traction in this sector. The harmonious blend of ambient music and interior settings significantly influences customer engagement and satisfaction. Key areas where BGM adds significant value include common dining areas, bars, receptions, lobbies, waiting rooms, massage rooms, and external gathering spaces like pools, lawns, and patios. Carefully curated BGM mixes and audio designs contribute to a welcoming environment, thereby fostering a positive customer experience.
By End-user, Hospitality segment is expected to hold the largest market size for the year 2024
The global Background Music Market is poised for significant growth during the forecast period, driven by the increasing penetration of digital platforms and the proliferation of smart devices. Music streaming services, which offer features such as automatic playlist customization, song recommendations, and seamless connectivity across apps and browsers, are gaining immense popularity. Furthermore, the expanding podcast genre on these platforms is fueling market growth. Notably, the adoption of 5G connections is a prominent trend in the industry, enhancing the user experience and increasing the demand for digital music services. Consequently, the Background Music Market is anticipated to witness robust expansion during the forecast period.
Europe is forecasted to hold the largest market size by region in 2024
The Background Music Market represents a significant revenue-generating sector within the media industry. Businesses and content creators increasingly recognize the value of adding professionally composed music to enhance user experience and engagement. This market encompasses various segments, including licensing models, genres, and distribution channels. Companies leverage technology to provide customized solutions, ensuring copyright compliance and seamless integration into various applications and platforms. The market's growth is driven by the expanding media landscape and the increasing demand for high-quality audio content.
The Background Music Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
.
For insights on company offerings- Request a sample report!
Research Analysis Overview
The Background Music Market has gained significant traction in various industries, including marketing videos, films, commercials, and more. Soft tunes and soothing music have been proven to improve sleep quality and create a more relaxing atmosphere. In the retail sector, background music plays a crucial role in enhancing the consumer shopping experience. Modern infrastructures, from malls to stores, use recorded sound to create an ambient and engaging environment. Consumer relationships are strengthened through value-added options such as digital subscription-based music services. Business productivity is also boosted, with studies showing that background music can increase focus and efficiency. The marketing aspect of background music is also essential, as it can influence consumer behavior and create a memorable brand image. Entertainment venues, restaurants, healthcare, and hospitality industries also benefit from background music. TouchTunes, a leading provider of digital jukebox solutions, offers a vast library of audio content for businesses to choose from. Background music sets the tone for a variety of experiences, from recreation to relaxation, making it an essential component of modern business operations.
Market Research Overview
The Background Music Market encompasses various industries, including AV system equipment suppliers, iPods, and recordings. This market caters to diverse sectors such as tourism, personalized traveling, health consciousness, and fitness centers. Background music plays a crucial role in creating a better atmosphere in housing buildings, elevators, malls, entertainment places, and more. For tourists and younger demographics, personalized traveling experiences are enhanced with motivating and relaxing tunes. Fitness centers and yoga studios use background music to boost cognitive functions, creativity, and positive moods during physical activities. Background music also plays a significant role in various sectors like leisure & hospitality, cafes & restaurants, retail stores, and corporate offices. It helps in creating a soothing shopping environment, improving customer engagement, and enhancing business productivity. Background music can influence moods, reducing anxiety, nervousness, and tension, making it essential for various applications like marketing videos, films, commercials, and virtual spaces. Soft tunes are popular in fitting rooms, sleep quality improvement, and in elevators. TouchTunes, digital broadcasts, and subscription-based music services are increasingly popular in the background music market. The market caters to various industries, including the corporate sector, retail sector, entertainment venues, restaurants, healthcare, and hospitality. Music streaming and AV systems are integral to the consumer shopping experience, offering value-added options and complementary food services. Modern infrastructures and consumer relationships are also crucial aspects of the background music market.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
