openPR Logo
Press release

Background Music Market Valued Over USD 1.5 Billion in 2021, Expected to Exceed USD 2.3 Billion by 2031

06-18-2024 06:54 PM CET | Food & Beverage

Press release from: Transparency Market Research

Background Music Market

Background Music Market

The global background music market, valued at over USD 1.5 billion in 2021, is set to experience significant growth, expanding at a Compound Annual Growth Rate (CAGR) of 5.1% from 2022 to 2031. Analysts project the market will surpass USD 2.3 billion by the end of 2031, driven by increasing demand across various end-use segments, including hotels, fitness and recreational sports centers, and spas and wellness centers.

๐†๐ž๐ญ ๐’๐š๐ฆ๐ฉ๐ฅ๐ž ๐๐ƒ๐… ๐‚๐จ๐ฉ๐ฒ ๐จ๐Ÿ ๐ญ๐ก๐ข๐ฌ ๐ซ๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก ๐ซ๐ž๐ฉ๐จ๐ซ๐ญ @ https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=77876

Enhancing Customer Experiences Across Sectors
Background music has become an integral component of modern commercial infrastructures, aimed at enhancing the ambiance and overall customer experience. The hospitality sector, in particular, leverages background music as a medium to attract and retain customers. As consumers increasingly opt for online services, restaurants and cafes are countering this trend by offering extensive menus, in-house entertainment, excellent service, and immersive background music systems to enhance the dining experience.

Growth Drivers in the Foodservice Industry
The foodservice industry, encompassing pubs, cafes, bars, and restaurants, is capitalizing on background music to boost customer engagement. Music not only enhances the atmosphere but also encourages patrons to stay longer, increasing their average spend. This trend is contributing to the robust growth of the background music market.

Fitness Centers and Gyms Embrace Music for Better Workouts
The bifurcation of the global background music market into AV system equipment and in-apps web reveals that the AV system equipment segment is anticipated to grow at the highest CAGR during the forecast period. Health clubs and gyms are significant contributors to this segment's growth. According to the International Health, Racquet & Sports Club Association (IHRSA), 174 million members are served by 201,000 health clubs globally. Music's role in reducing fatigue and enhancing workout experiences is prompting gym owners to incorporate background music systems, further propelling market growth.

๐—–๐—น๐—ถ๐—ฐ๐—ธ ๐—ต๐—ฒ๐—ฟ๐—ฒ ๐˜๐—ผ ๐˜ƒ๐—ถ๐—ฒ๐˜„ ๐˜๐—ต๐—ฒ ๐—ฐ๐—ผ๐—บ๐—ฝ๐—ฟ๐—ฒ๐—ต๐—ฒ๐—ป๐˜€๐—ถ๐˜ƒ๐—ฒ ๐—ฟ๐—ฒ๐—ฝ๐—ผ๐—ฟ๐˜ ๐—ถ๐—ป ๐—ณ๐˜‚๐—น๐—น ๐—ฑ๐—ฒ๐˜๐—ฎ๐—ถ๐—น - https://www.transparencymarketresearch.com/background-music-market.html

Regional Market Outlook
The surge in the number of commercial spaces such as shopping malls, cafes, and restaurants is driving the demand for background music in various regions. Malls, in particular, are incorporating value-added components like background music to create a leisurely and pleasurable shopping environment that online platforms cannot replicate. Emerging markets, especially in the Indian Subcontinent, are witnessing increased interest from key market players due to the region's diverse and authentic dining experiences, popular among tourists. This trend is expected to significantly contribute to the growth of the Asia Pacific background music market in the near future.

Strategic Collaborations and Technological Innovations
Key players in the background music market are focusing on research and development and expanding their product portfolios to attract more customers. Companies such as USEN CORPORATION, Mood Media, Sirius XM Radio Inc., TouchTunes Music Corporation, PlayNetwork Inc., Imagesound Limited, NSM Music, Music Concierge, Rockbot, and Almotech Limited are leading the market.

Strategic acquisitions and collaborations are central to these companies' growth strategies. For instance, in October 2021, SiriusXM and Audio Up Inc. entered into a creative and strategic agreement to develop new original scripted podcasts and audio entertainment concepts. Additionally, USEN Corporation's launch of the U Music product in September 2020, through collaborative research on the AI BGM project, showcases the integration of AI technology in background music, enhancing the company's global reputation and market opportunities.

๐๐ฎ๐ฒ ๐ญ๐ก๐ข๐ฌ ๐๐ซ๐ž๐ฆ๐ข๐ฎ๐ฆ ๐‘๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก ๐‘๐ž๐ฉ๐จ๐ซ๐ญ | ๐ˆ๐ฆ๐ฆ๐ž๐๐ข๐š๐ญ๐ž ๐ƒ๐ž๐ฅ๐ข๐ฏ๐ž๐ซ๐ฒ ๐€๐ฏ๐š๐ข๐ฅ๐š๐›๐ฅ๐ž ๐š๐ญ - https://www.transparencymarketresearch.com/checkout.php?rep_id=77876<ype=S

Key Developments and Future Outlook
Recent developments highlight the dynamic nature of the background music market. SiriusXM's December 2020 launch of its 1300-class satellite series exemplifies the industry's move towards continuous and expanded delivery of audio entertainment services. These advancements not only strengthen the market presence of leading companies but also pave the way for future growth.

๐—”๐—ฏ๐—ผ๐˜‚๐˜ ๐—จ๐˜€ ๐—ง๐—ฟ๐—ฎ๐—ป๐˜€๐—ฝ๐—ฎ๐—ฟ๐—ฒ๐—ป๐—ฐ๐˜† ๐— ๐—ฎ๐—ฟ๐—ธ๐—ฒ๐˜ ๐—ฅ๐—ฒ๐˜€๐—ฒ๐—ฎ๐—ฟ๐—ฐ๐—ต
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.

Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.

๐—–๐—ผ๐—ป๐˜๐—ฎ๐—ฐ๐˜:

Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Website: https://www.transparencymarketresearch.com

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Background Music Market Valued Over USD 1.5 Billion in 2021, Expected to Exceed USD 2.3 Billion by 2031 here

News-ID: 3543550 • Views: โ€ฆ

More Releases from Transparency Market Research

Global Solar Powered Agricultural Dryer Market to Exceed USD 2.4 Billion by 2031 - Transparency Market Research
Global Solar Powered Agricultural Dryer Market to Exceed USD 2.4 Billion by 2031 โ€ฆ
The global solar powered agricultural dryer market, valued at US$ 1.6 billion in 2022, is projected to grow at a CAGR of 5.8% from 2023 to 2031, reaching US$ 2.4 billion by the end of 2031. Rising investments in renewable energy, growing awareness of sustainable agricultural practices, and the rapid expansion of the agricultural sector driven by population growth are key factors fueling market growth. Uncover essential discoveries and trends fromโ€ฆ
Technetium-99m Market Forecast 2034: Rising Demand for Diagnostic Imaging and Radiopharmaceuticals to Propel Market Expansion | Transparency Market Research, Inc
Technetium-99m Market Forecast 2034: Rising Demand for Diagnostic Imaging and Ra โ€ฆ
The global Technetiumโ€99m Market was valued at US$ 6.0 Billion in 2023 and is projected to grow at a CAGR of 3.3% from 2024 to 2034, surpassing US$ 8.6 Billion by the end of the forecast period. Advancements in nuclear imaging infrastructure, government-backed healthcare initiatives, and an increasing demand for precise diagnostic procedures are fueling this growth. Discover essential conclusions and data from our Report in this sample - https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=77100 Analysts' Viewpoint The Technetiumโ€99mโ€ฆ
Equine Diagnostic Services Market Outlook 2030: From US$ 168 Million in 2019 to US$ 280 Million by 2030, Driven by Rising Equine Diseases and Diagnostic Advancements
Equine Diagnostic Services Market Outlook 2030: From US$ 168 Million in 2019 to โ€ฆ
The global Equine Diagnostic Services Market, valued at approximately US$ 168 million in 2019, is projected to expand at a compound annual growth rate (CAGR) of ~5% from 2020 to 2030, reaching around US$ 280 million by 2030. Equine diagnostic services, encompassing tests like genetic, infectious disease, and imaging diagnostics, are critical for managing horse health in veterinary hospitals, clinics, and mobile settings. The market is driven by increasing equineโ€ฆ
Digital Printing Market to Reach USD 54.4 Billion by 2034, Growing at a CAGR of 6.1%
Digital Printing Market to Reach USD 54.4 Billion by 2034, Growing at a CAGR of โ€ฆ
The digital printing market is experiencing strong growth, driven by rapid technological advancements, rising demand for personalized and on-demand printing, and an increasing focus on sustainable solutions. Digital printing allows for the direct transfer of digital files onto a wide range of substrates, offering high-resolution output with greater speed and flexibility. Its adaptability has led to broad adoption across industries such as packaging, textiles, publishing, and advertising-sectors where customization, efficiency,โ€ฆ

All 5 Releases


More Releases for Music

Copyright Music Market Size in 2023 To 2029 | Tencent Music, NetEase Cloud Music โ€ฆ
The report provides a detailed analysis of the drivers, development, and prospects that have a direct impact on the Copyright Music market. It includes an in-depth analysis of the international Copyright Music Market based on key parameters such as drivers, sales inquiry, market limits & share. Furthermore, the report evaluates the market size of four key regions, namely North America, Europe, Asia-Pacific, and Rest of World. The research study aimsโ€ฆ
Automotive Music Platform Market Size in 2023 To 2029 | SoundCloud, Google Play โ€ฆ
Clients seeking to forecast investments in emerging markets, expand their market share, or introduce new products will find the large-scale Automotive Music Platform market report to be an invaluable resource. The report offers a comprehensive and simplified analysis of multifaceted Automotive Music Platform market insights using established tools and techniques, making it a reliable marketing report. The data is presented in a clear and understandable manner, with graphs and chartsโ€ฆ
Music Publishing Global Market 2019: Key Players โ€“ Sony Music Publishing LLC, โ€ฆ
Music Publishing Industry Description Wiseguyreports.Com Adds โ€œMusic Publishing -Market Demand, Growth, Opportunities and Analysis Of Top Key Player Forecast To 2023โ€ To Its Research Database The global Music Publishing market will reach xxx Million USD in 2017 and CAGR xx% 2011-2017. The report begins from overview of Industry Chain structure, and describes industry environment, then analyses market size and forecast of Music Publishing by product, region and application, in addition, this report introducesโ€ฆ
Recorded Music Market is Booming Worldwide | Recorded Music, Warner Music, Unive โ€ฆ
HTF MI Analyst have added a new research study on Title โ€œGlobal Recorded Music Market 2019 by Company, Regions, Type and Application, Forecast to 2024โ€ with detailed information of Product Types [CDrecord, Tape Record, Optical Sound Record & Other], Applications [Recreational Activities, Personal, Commercial & Social] & Key Players Such as Recorded Music NZ, Warner Music Inc, Universal Music, Sony Music Entertainment, LangVan Inc, Master Music Limited, De Plein Ventโ€ฆ
Music Publishing Market Global Trend Analysis and Future Outlook 2025: Disney Mu โ€ฆ
Music publishing involves music recording, merchandizing, publishing, and distributing musical content. To publish the musical content, music publisher requires a copyright of the song along with fee, which is commonly known as royalty. Music publishers are strong intermediaries between songwriters and recording companies. The global music publishing market is highly fragmented with the presence of a large number of small and large vendors. In 2018, the global Music Publishing market sizeโ€ฆ
Music Publishing Market 2019 Size, Share, Analysis to Grow at +6% CAGR by Disney โ€ฆ
Actionable, reliable and all-inclusive report on Global Music Publishing Market 2018 by Manufacturers, Countries, Type and Application, Forecast to 2025 published by Decision Market Reports provides exhaustive research capabilities, strong analytics services and data validation. In 2018, the global Music Publishing market size was million US$ and it is expected to reach million US$ by the end of 2025, with a CAGR of 5.4% during 2019-2025. Get a Quick Sample PDF Brochureโ€ฆ