Background Music Market Report: Trends, Forecast and Competitive Analysis to 2030

Background Music Market Report: Trends, Forecast and Competitive Analysis to 2030

Background Music Trends and Forecast

The future of the global background music market looks promising with opportunities in the retail stores, restaurants, public organizations, and entertainment places markets. The global background music market is expected to reach an estimated $2.62 billion by 2030 with a CAGR of 5.5% from 2024 to 2030. The major drivers for this market are remarkable growth of media and entertainment sector and rising need for budget-friendly digital music subscription services among younger audiences.

A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.

Background Music by Segment

The study includes a forecast for the global background music by type, application, and region.

Background Music Market by Type [Shipment Analysis by Value from 2018 to 2030]:

• Music Streaming
• AV System Equipment

Background Music Market by Application [Shipment Analysis by Value from 2018 to 2030]:

• Retail Stores
• Restaurants
• Public Organizations
• Entertainment Places
• Others

Background Music Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Background Music Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies background music companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the background music companies profiled in this report include-

• Auracle Sound
• Imagesound
• Mood Media
• Music Concierge
• Nsm Music
• Open Ear Music
• Rockbot

Background Music Market Insights

Lucintel forecasts that music streaming is expected to witness highest growth over the forecast period due to widely accepted choice for businesses and organizations that need background music.

Within this market, retail stores will remain the largest segment due to high need to develop a pleasant shopping atmosphere and attracting customer behaviour.

APAC is expected to witness highest growth over the forecast period due to high growth of retail and hospitality sectors, urbanization and rising disposable income.

Features of the Global Background Music Market

Market Size Estimates: Background music market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Background music market size by type, application, and region in terms of value ($B).

Regional Analysis: Background music market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different type, application, and regions for the background music market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the background music market.

Analysis of competitive intensity of the industry based on Porter’s Five Forces model.

FAQ

Q.1 What is the background music market size?

Answer: The global background music market is expected to reach an estimated $2.62 billion by 2030.

Q.2 What is the growth forecast for background music market?

Answer: The global background music market is expected to grow with a CAGR of 5.5% from 2024 to 2030.

Q.3 What are the major drivers influencing the growth of the background music market?

Answer: The major drivers for this market are remarkable growth of media and entertainment sector and rising need for budget-friendly digital music subscription services among younger audiences.

Q4. What are the major segments for background music market?

Answer: The future of the background music market looks promising with opportunities in the retail stores, restaurants, public organizations, and entertainment places markets.

Q5. Who are the key background music market companies?

Answer: Some of the key background music companies are as follows:

• Auracle Sound
• Imagesound
• Mood Media
• Music Concierge
• Nsm Music
• Open Ear Music
• Rockbot

Q6. Which background music market segment will be the largest in future?

Answer: Lucintel forecasts that music streaming is expected to witness highest growth over the forecast period due to widely accepted choice for businesses and organizations that need background music.

Q7. In background music market, which region is expected to be the largest in next 5 years?

Answer: APAC is expected to witness highest growth over the forecast period due to high growth of retail and hospitality sectors, urbanization and rising disposable income.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

Q.1. What are some of the most promising, high-growth opportunities for the background music market by type (music streaming and AV system equipment), application (retail stores, restaurants, public organizations, entertainment places, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?

Q.2. Which segments will grow at a faster pace and why?

Q.3. Which region will grow at a faster pace and why?

Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?

Q.5. What are the business risks and competitive threats in this market?

Q.6. What are the emerging trends in this market and the reasons behind them?

Q.7. What are some of the changing demands of customers in the market?

Q.8. What are the new developments in the market? Which companies are leading these developments?

Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?

Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?

Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?

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