In-store Music Service Market Revenue, Insights, Overview, Outlook, Analysis | Valuates Reports

In-store Music Service - Market Size

The global market for In-store Music Service was estimated to be worth US$ 1738 million in 2023 and is forecast to a readjusted size of US$ 2661.2 million by 2030 with a CAGR of 6.2% during the forecast period 2024-2030.

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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.

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.

By Type
• Streaming Media Service
• Audio Equipment

By Application
• Retail Stores
• Cafes and Restaurants
• Leisure Places and Hotels
• Public Institutions

Key Companies
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

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