Global In-store Music Service Market Growth (Status and Outlook) 2023-2029

Global In-store Music Service Market Growth (Status and Outlook) 2023-2029

All the music played by the business site through professional technical equipment is collectively referred to as "background music".In the shopping environment, store music is an important factor affecting consumers' shopping experience.The compound annual growth rate from 2019 to 2025 is 6%, according to QYR analyst market research.The increase in the use of background music in travel and retail stores was one of the major growth factors for the global market.Using background music in these places can reduce the boredom of visitors and improve their overall experience.Regionally, North America and Europe are relatively mature markets that are dominating market development.In 2018, the north American background music market grew at a compound annual rate of 6% over the last five years.The overall European market for background music is growing at a compound annual rate of 7 per cent.The asia-pacific region will be the fastest growing market for some time to come, especially for the fast-growing markets of Japan, China and India.Mood Media, SiriusXM for Business, Usen Corporation, TouchTunes, PlayNetwork, Pandora for Business are the leading providers of in-store music services in the global market.The nature of the service determines the existence of many small suppliers in the market. The global background music market is highly competitive and fragmented.Providers compete on pricing, size and type of music library, copyright, and so on to maintain market position.In order to expand their influence and market share, suppliers must not only develop new ideas and technologies, but also keep abreast of emerging technologies and current music trends that may affect their services in order to remain competitive in the market.Based on end users, the market is divided into retail stores, cafes and restaurants, leisure and hotels, public organizations, etc.In 2018, leisure and hospitality accounted for the largest market share with 30%, with retail stores and cafes and restaurants also playing an important role in the in-store BG music service market.Based on the solution, the market is divided into music streaming media services and AV system equipment.Music Streaming Service occupied the largest market share in 2018, with a market share of more than 85%.The availability of advanced music mixing systems is one of the latest trends that will gain momentum in the background music market over the next few years.Most major in-store music service providers have established sales networks.These have been keen to expand their sales of background music through their licensed distributors or their partners.In order to achieve better sales business, background music providers usually invest in their marketing channels every year.
LPI (LP Information)' newest research report, the “In-store Music Service Industry Forecast” looks at past sales and reviews total world In-store Music Service sales in 2022, providing a comprehensive analysis by region and market sector of projected In-store Music Service sales for 2023 through 2029. With In-store Music Service sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world In-store Music Service industry.
This Insight Report provides a comprehensive analysis of the global In-store Music Service landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on In-store Music Service portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global In-store Music Service market.
This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for In-store Music Service and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global In-store Music Service.
The global In-store Music Service market size is projected to grow from US$ 1700.2 million in 2022 to US$ 2630.2 million in 2029; it is expected to grow at a CAGR of 6.4% from 2023 to 2029.
Global In-store Music Service key players include Mood Media, SiriusXM for Business, Usen Corporation, etc. Global top three manufacturers hold a share about 30%.
North America is the largest market, with a share over 40%, followed by Europe, and Asia Pacific, both have a share about 50 percent.
In terms of product, Streaming Media Service is the largest segment, with a share over 85%. And in terms of application, the largest application is Leisure Places and Hotels, followed by Retail Stores, Cafes and Restaurants, Public Institutions, etc.
This report presents a comprehensive overview, market shares, and growth opportunities of In-store Music Service market by product type, application, key players and key regions and countries.
Market Segmentation:
Segmentation by type
Streaming Media Service
Audio Equipment
Segmentation by application
Retail Stores
Cafes and Restaurants
Leisure Places and Hotels
Public Institutions
Others
This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
Mood Media
PlayNetwork
TouchTunes
Usen Corporation
SiriusXM for Business
Pandora for Business
Almotech
Imagesound
NSM Music.
CSI Music
Easy on Hold
Sunflower Music
Soundjack
Xenon Music Media
Soundtrack Your Brand
Jamendo Listening
Heartbeats International
SoundMachine
Rockbot
Jukeboxy
Cloud Cover Music
Custom Channels
Auracle Sound
Brandtrack
Kasimu
Soundreef
Express Melody
Qsic
StorePlay
Open Ear Music

Please note: The report will take approximately 2 business days to prepare and deliver.