Background Music Market is Anticipated to be Valued at Over US$ 1.2 Billion by 2032 | Fact.MR Report

Fact.MR projects the global background music market to register a CAGR of 6.4% through 2031, with an anticipated valuation of over US$ 1.2 Bn by the end of the forecast period. Increased emphasis on indulging consumer sensory experiences is majorly spurring demand across key public and private settings.

As per Fact.MR's report, the market registered an expansion of over 5% CAGR from 2016 to 2020, reaching a value of nearly US$ 650 Mn. Prospects temporarily dimmed in the first half, as the COVID-19 pandemic induced closure of public spaces. As the restrictions eased, demand resurfaced as restaurants, gyms and other public places resumed operations.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐅𝐫𝐞𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.factmr.com/connectus/sample?flag=S&rep_id=3068

Demand for background music is primarily driven by the efforts of restaurants in combining the music with their brand theme, thereby offering a unique experience to consumers. Foodservice outlets consider appropriate use of background music to hold potential in increasing the consumers' stay, which in turn has been linked to growth in the average money spent by consumers. Co-working spaces continue to remain at the forefront of the growing demand for background music in corporate spaces.

𝐒𝐨𝐦𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐥𝐞𝐚𝐝𝐢𝐧𝐠 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 𝐢𝐧𝐜𝐥𝐮𝐝𝐞:

• Brandtrack
• Mood Media
• Kasimu
• Cloud Cover Music
• Open Ear Music
• Qsic Pty Ltd.
• Easy on Hold
• Jukeboxy
• Sunflower Music Company
• NSM Music Ltd.
• Xenox Music Media
• Soundtrack your Brand
• SoundMachine
• Heartbeats International

𝐊𝐞𝐲 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐬 𝐂𝐨𝐯𝐞𝐫𝐞𝐝

𝐀𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧

• Background Music Equipment for Retail Stores
• Background Music Equipment for Leisure & Hospitality Settings
• Background Music Equipment for Public Organizations
• Background Music Equipment for Cafes & Restaurants
• Background Music Equipment for Other End Users (Music Streaming

𝐒𝐡𝐚𝐫𝐞 𝐘𝐨𝐮𝐫 𝐑𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭𝐬 & 𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬- https://www.factmr.com/connectus/sample?flag=RC&rep_id=3068

Background music is an integral part of sensory marketing which can be leveraged to create a unique and uplifting consumer experience to bolster sales and enhance customer satisfaction. Customer experience is gradually gaining importance in industries, with multiple studies linking an increase in revenue with better consumer experiences.

𝐊𝐞𝐲 𝐓𝐚𝐤𝐞𝐚𝐰𝐚𝐲𝐬 𝐟𝐫𝐨𝐦 𝐭𝐡𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐭𝐮𝐝𝐲

• By end use application, music streaming services to make major use, expanding at 5% CAGR
• More than 3 out of 5 background music services to be deployed across cafes & restaurants
• U.S to emerge as a lucrative market, accounting for over 50% background music demand
• India experiencing substantial uptake, poised to register 2/5th of global background music demand
• Emergence of coffee joints to propel demand in Germany, registering a CAGR of 8%
• China, Japan and South Korea likely to emerge as highly opportunistic markets
• Global background music market demand to expand nearly 2x by 2031

𝐅𝐮𝐥𝐥 𝐀𝐜𝐜𝐞𝐬𝐬 𝐨𝐟 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 𝐈𝐬 𝐀𝐯𝐚𝐢𝐥𝐚𝐛𝐥𝐞 𝐚𝐭: https://www.factmr.com/checkout/3068

𝐑𝐞𝐠𝐢𝐨𝐧𝐬 𝐜𝐨𝐯𝐞𝐫𝐞𝐝 𝐢𝐧 𝐫𝐞𝐩𝐨𝐫𝐭:

• North America (U.S. and Canada)
• Europe (U.K., Germany, France, Spain, Italy, and Rest of Europe)
• Asia Pacific (China, Japan, India, Indonesia, and Rest of Asia Pacific)
• Latin America (Brazil, Mexico, and Rest of Latin America)
• Middle East & Africa (GCC, South Africa and Rest of Middle East & Africa)

𝐃𝐫𝐢𝐯𝐞𝐫𝐬 𝐚𝐧𝐝 𝐑𝐢𝐬𝐤𝐬 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:

The global Background Music market is characterized by several leading factors, with each factor playing a crucial role in the growth of the industry. The growing demand for products coupled with easy availability of the same has helped the industry flourish across the globe.

𝐂𝐡𝐞𝐜𝐤 𝐨𝐮𝐭 𝐦𝐨𝐫𝐞 𝐫𝐞𝐥𝐚𝐭𝐞𝐝 𝐬𝐭𝐮𝐝𝐢𝐞𝐬 𝐩𝐮𝐛𝐥𝐢𝐬𝐡𝐞𝐝 𝐛𝐲 𝐅𝐚𝐜𝐭.𝐌𝐑 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡: https://www.globenewswire.com/en/news-release/2022/09/14/2516131/0/en/Integration-of-Artificial-Intelligence-to-Accelerate-Market-Growth-for-Language-Services-States-Fact-MR.html

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