Background music market size to grow by USD 421.73 million from 2022 to 2027: A descriptive analysis of customer landscape, vendor assessment, and market dynamics - Technavio

NEW YORK, Dec. 16, 2022 /PRNewswire/ -- Technavio categorizes the global background music market as a part of the global media and entertainment market, the parent market. The background music market covers companies offering products, services, and solutions in advertising, broadcasting, cable and satellite, publishing, media and entertainment, interactive home entertainment, and interactive media and services. The global background music market size is estimated to increase by USD 421.73 million from 2022 to 2027. The market's growth momentum will accelerate at a CAGR of 7.69%.

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Global background music market - Customer landscape

To help companies evaluate and develop growth strategies, the report outlines –

• Key purchase criteria
• Adoption rates
• Adoption lifecycle
• Drivers of price sensitivity

Global background music market – Vendor analysis

Vendor Landscape - The global background music market is fragmented, with the presence of several global as well as regional vendors. A few prominent vendors that offer  background music market are Almotech Media Solutions, AMI Entertainment Network LLC, Auracle Sound Ltd., Brandtrack Inc., CMRRA SODRAC Inc., Heartbeats International AB, HIBOU MUSIC LIBRARY, Imagesound Group, Liberty Media Corp., Mood Media Corp., Open Ear Music Ltd., Qsic Pty Ltd., Rockbot Inc., SOUND MACHINE, Soundreef, Soundtrack Your Brand Sweden AB, Stingray Media Group., TouchTunes Music Corp., USEA Pte Ltd. , and Xenox Music and Media B.V. and others.

The global background music market is at its growing stage. This implies that the market in focus is characterized by demand for BGM in the retail sector, growing use of BGM in public spaces, and increased regulatory pressure to prevent music piracy and copyright infringement.

Vendor offerings -

• Almotech Media Solutions: The company offers background music for retail audio, multi-zone players for petrol station and deli audio, fashion audio and family restaurants.
• Auracle Sound Ltd.: The company offers background music services for all types of businesses, including restaurants, retail stores, banks and offices.
• Brandtrack Inc.: The company offers a background music app with in  store tracking system and customized DJ music.
• CMRRA SODRAC Inc.: The company offers background music services as personalized services that integrate music, voice and sound to broadcast background music in an establishment for its clients' continuous listening in Canada.
• Heartbeats International AB: The company offers background music systems for retail, food chains, the automation industry and aviation.
• For Details on vendors and their offerings – Buy the report!

Global background music market - Segmentation assessment

Geography Overview

Based on geography, the global background music market is segmented into Europe, North America, APAC, Middle East and Africa, and South America. The report provides actionable insights and an accurate estimation of the contribution of all regions to the growth of the global background music market.

• Europe will account for 44% of the market's growth during the forecast period. Europe has the greatest per capita music consumption rate. The global average for music consumption by a media device user is four hours. However, the average European citizen consumes 15% more music than the global average. The high level of musical passion is predicted to promote the expansion of the European background music market.

Segment Overview

Based on type, the global background music market is segmented into music streaming and AV system.

• The market share growth of the music streaming segment will be higher than the other segments during the forecast period. Music streaming platforms are becoming popular due to features like automatic playlist creation, song recommendations, and hassle-free connectivity on smartphones and browsers. Furthermore, these portals' increasing podcast genres are supporting market expansion. The growing use of 5G connectivity is one of the most popular trends in the worldwide industry. Due to the increased demand for digital platforms, the worldwide background music market is predicted to rise rapidly throughout the forecast period.

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Global background music market– Market dynamics

• Impactful Driver - The demand for background music in the retail sector is the key factor driving the global background music market growth. Background music with the proper tempo and rhythm has been proven to improve engagement with the surroundings and boost time spent shopping. Soft and slow music has a calming impact on shoppers, causing them to stay in stores longer. As a result, background music plays an important role in generating a favorable store experience, which is a major selling point for background music subscriptions worldwide. Furthermore, the rise in internet music streaming is expected to drive demand for background music during the forecasted period.
• Key Trend - The growth of music subscription services will fuel the global background music market growth. Paid subscription services, streaming radio services, and ad-supported streaming services are all examples of streaming music channels. In the past, individuals used to purchase music on a track-by-track or album-by-album basis. However, the high price of music under such a revenue structure discourages people from buying them. This compels them to turn to music piracy in order to satisfy their demand. Furthermore, the expanding number of mobile applications and websites has aided the growth of digital services such as background music services. The rising use of smartphones and tablets is attributable to the increase in the number of mobile applications. These factors will boost market growth during the forecast period.
• Major Challenge - The low-profit margins for background music vendors are a major challenge to the global background music market growth. The artists, content creators, publishing corporations, and music labels receive a large portion of the vendor's earnings, leaving them with very little money. This low-profit margin makes it difficult for vendors to remain competitive, which poses a problem for the industry. To make money, background music companies rely heavily on the number of users and song sales. Even major background music providers have difficulty boosting their income.   Although the number of music subscribers keeps increasing, the vendors' revenue-generation approach is anticipated to remain difficult.

Driver, Trends, & Challenges are the factors of market dynamics, which state about consequences & sustainability of the businesses. Find a few insights from a sample report!

What are the key data covered in this background music market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the background music market between 2023 and 2027
• Precise estimation of the size of the background music market and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the background music market across Europe, North America, APAC, Middle East and Africa, and South America
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of background music market vendors

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Music Publishing Market by Product and Geography - Forecast and Analysis 2022-2026: The music publishing market share is expected to increase by USD 2.41 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 6.73%. The report extensively covers the music publishing market segmentation by product (live performance, digital sales, physical sales, synchronization, and others) and geography (APAC, North America, Europe, South America, and the Middle East and Africa).

Music Market by Source and Geography - Forecast and Analysis 2022-2026: The music market share is expected to increase by USD 50.46 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 11.84%. This report extensively covers music market segmentations by source (recording, live, and others) and geography (North America, Europe, APAC, South America, and Middle East and Africa).

Browse for Technavio "Communication Services" Research Reports

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Product Type
• Exhibit 06: Executive Summary – Chart on Market Segmentation by End-user
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global Background Music Market 2023-2027 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on Global Background Music Market 2023-2027 2017 - 2021 ($ million)

• 4.2 By product type Segment Analysis 2017 - 2021
• Exhibit 19: Historic Market Size – By product type Segment 2017 - 2021 ($ million)

• 4.3 By end-user Segment Analysis 2017 - 2021
• Exhibit 20: Historic Market Size – By end-user Segment 2017 - 2021 ($ million)

• 4.4 By Geography Segment Analysis 2017 - 2021
• Exhibit 21: Historic Market Size – By Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Product Type

• 6.1 Market segments 
• Exhibit 30: Chart on Product Type - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Product Type - Market share 2022-2027 (%)

• 6.2 Comparison by Product Type 
• Exhibit 32: Chart on Comparison by Product Type
• Exhibit 33: Data Table on Comparison by Product Type

• 6.3 Music streaming - Market size and forecast 2022-2027
• Exhibit 34: Chart on Music streaming - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Music streaming - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Music streaming - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Music streaming - Year-over-year growth 2022-2027 (%)

• 6.4 AV system - Market size and forecast 2022-2027
• Exhibit 38: Chart on AV system - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on AV system - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on AV system - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on AV system - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Product Type 
• Exhibit 42: Market opportunity by Product Type ($ million)

7 Market Segmentation by End-user

• 7.1 Market segments 
• Exhibit 43: Chart on End-user - Market share 2022-2027 (%)
• Exhibit 44: Data Table on End-user - Market share 2022-2027 (%)

• 7.2 Comparison by End-user 
• Exhibit 45: Chart on Comparison by End-user
• Exhibit 46: Data Table on Comparison by End-user

• 7.3 Hospitality - Market size and forecast 2022-2027
• Exhibit 47: Chart on Hospitality - Market size and forecast 2022-2027 ($ million)
• Exhibit 48: Data Table on Hospitality - Market size and forecast 2022-2027 ($ million)
• Exhibit 49: Chart on Hospitality - Year-over-year growth 2022-2027 (%)
• Exhibit 50: Data Table on Hospitality - Year-over-year growth 2022-2027 (%)

• 7.4 Retail - Market size and forecast 2022-2027
• Exhibit 51: Chart on Retail - Market size and forecast 2022-2027 ($ million)
• Exhibit 52: Data Table on Retail - Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Chart on Retail - Year-over-year growth 2022-2027 (%)
• Exhibit 54: Data Table on Retail - Year-over-year growth 2022-2027 (%)

• 7.5 Commercial buildings - Market size and forecast 2022-2027
• Exhibit 55: Chart on Commercial buildings - Market size and forecast 2022-2027 ($ million)
• Exhibit 56: Data Table on Commercial buildings - Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Chart on Commercial buildings - Year-over-year growth 2022-2027 (%)
• Exhibit 58: Data Table on Commercial buildings - Year-over-year growth 2022-2027 (%)

• 7.6 Public infrastructure - Market size and forecast 2022-2027 
• Exhibit 59: Chart on Public infrastructure - Market size and forecast 2022-2027 ($ million)
• Exhibit 60: Data Table on Public infrastructure - Market size and forecast 2022-2027 ($ million)
• Exhibit 61: Chart on Public infrastructure - Year-over-year growth 2022-2027 (%)
• Exhibit 62: Data Table on Public infrastructure - Year-over-year growth 2022-2027 (%)

• 7.7 Others - Market size and forecast 2022-2027
• Exhibit 63: Chart on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 64: Data Table on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 65: Chart on Others - Year-over-year growth 2022-2027 (%)
• Exhibit 66: Data Table on Others - Year-over-year growth 2022-2027 (%)

• 7.8 Market opportunity by End-user 
• Exhibit 67: Market opportunity by End-user ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 68: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 69: Chart on Market share by geography 2022-2027 (%)
• Exhibit 70: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 71: Chart on Geographic comparison
• Exhibit 72: Data Table on Geographic comparison

• 9.3 Europe - Market size and forecast 2022-2027
• Exhibit 73: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 74: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 75: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 76: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.4 North America - Market size and forecast 2022-2027
• Exhibit 77: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 78: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 79: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 80: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.5 APAC - Market size and forecast 2022-2027
• Exhibit 81: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 82: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 83: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 84: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.6 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 85: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 86: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 87: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 88: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.7 South America - Market size and forecast 2022-2027
• Exhibit 89: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 90: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 91: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 92: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027
• Exhibit 93: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 94: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 95: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 96: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 UK - Market size and forecast 2022-2027
• Exhibit 97: Chart on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 98: Data Table on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 99: Chart on UK - Year-over-year growth 2022-2027 (%)
• Exhibit 100: Data Table on UK - Year-over-year growth 2022-2027 (%)

• 9.10 China - Market size and forecast 2022-2027
• Exhibit 101: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 102: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 103: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 104: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.11 Germany - Market size and forecast 2022-2027
• Exhibit 105: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 106: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 107: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 108: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.12 Italy - Market size and forecast 2022-2027
• Exhibit 109: Chart on Italy - Market size and forecast 2022-2027 ($ million)
• Exhibit 110: Data Table on Italy - Market size and forecast 2022-2027 ($ million)
• Exhibit 111: Chart on Italy - Year-over-year growth 2022-2027 (%)
• Exhibit 112: Data Table on Italy - Year-over-year growth 2022-2027 (%)

• 9.13 Canada - Market size and forecast 2022-2027
• Exhibit 113: Chart on Canada - Market size and forecast 2022-2027 ($ million)
• Exhibit 114: Data Table on Canada - Market size and forecast 2022-2027 ($ million)
• Exhibit 115: Chart on Canada - Year-over-year growth 2022-2027 (%)
• Exhibit 116: Data Table on Canada - Year-over-year growth 2022-2027 (%)

• 9.14 Market opportunity by geography 
• Exhibit 117: Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 118: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape 
• Exhibit 119: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 120: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 121: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 122: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 123: Matrix on vendor position and classification

• 12.3 Almotech Media Solutions 
• Exhibit 124: Almotech Media Solutions - Overview
• Exhibit 125: Almotech Media Solutions - Product / Service
• Exhibit 126: Almotech Media Solutions - Key offerings

• 12.4 AMI Entertainment Network LLC 
• Exhibit 127: AMI Entertainment Network LLC - Overview
• Exhibit 128: AMI Entertainment Network LLC - Product / Service
• Exhibit 129: AMI Entertainment Network LLC - Key offerings

• 12.5 Auracle Sound Ltd. 
• Exhibit 130: Auracle Sound Ltd. - Overview
• Exhibit 131: Auracle Sound Ltd. - Product / Service
• Exhibit 132: Auracle Sound Ltd. - Key offerings

• 12.6 Brandtrack Inc. 
• Exhibit 133: Brandtrack Inc. - Overview
• Exhibit 134: Brandtrack Inc. - Product / Service
• Exhibit 135: Brandtrack Inc. - Key offerings

• 12.7 CMRRA SODRAC Inc. 
• Exhibit 136: CMRRA SODRAC Inc. - Overview
• Exhibit 137: CMRRA SODRAC Inc. - Product / Service
• Exhibit 138: CMRRA SODRAC Inc. - Key offerings

• 12.8 Heartbeats International AB 
• Exhibit 139: Heartbeats International AB - Overview
• Exhibit 140: Heartbeats International AB - Product / Service
• Exhibit 141: Heartbeats International AB - Key offerings

• 12.9 HIBOU MUSIC LIBRARY 
• Exhibit 142: HIBOU MUSIC LIBRARY - Overview
• Exhibit 143: HIBOU MUSIC LIBRARY - Key offerings

• 12.10 Imagesound Group 
• Exhibit 144: Imagesound Group - Overview
• Exhibit 145: Imagesound Group - Product / Service
• Exhibit 146: Imagesound Group - Key offerings

• 12.11 Liberty Media Corp. 
• Exhibit 147: Liberty Media Corp. - Overview
• Exhibit 148: Liberty Media Corp. - Product / Service
• Exhibit 149: Liberty Media Corp. - Key offerings

• 12.12 Mood Media Corp. 
• Exhibit 150: Mood Media Corp. - Overview
• Exhibit 151: Mood Media Corp. - Product / Service
• Exhibit 152: Mood Media Corp. - Key offerings

• 12.13 Qsic Pty Ltd. 
• Exhibit 153: Qsic Pty Ltd. - Overview
• Exhibit 154: Qsic Pty Ltd. - Product / Service
• Exhibit 155: Qsic Pty Ltd. - Key offerings

• 12.14 Rockbot Inc. 
• Exhibit 156: Rockbot Inc. - Overview
• Exhibit 157: Rockbot Inc. - Product / Service
• Exhibit 158: Rockbot Inc. - Key offerings

• 12.15 SOUNDMACHINE 
• Exhibit 159: SOUNDMACHINE - Overview
• Exhibit 160: SOUNDMACHINE - Product / Service
• Exhibit 161: SOUNDMACHINE - Key offerings

• 12.16 USEA Pte Ltd. 
• Exhibit 162: USEA Pte Ltd.  - Overview
• Exhibit 163: USEA Pte Ltd.  - Product / Service
• Exhibit 164: USEA Pte Ltd.  - Key offerings

• 12.17 Xenox Music and Media B.V. 
• Exhibit 165: Xenox Music and Media B.V. - Overview
• Exhibit 166: Xenox Music and Media B.V. - Product / Service
• Exhibit 167: Xenox Music and Media B.V. - Key offerings

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 168: Inclusions checklist
• Exhibit 169: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 170: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 171: Research methodology
• Exhibit 172: Validation techniques employed for market sizing
• Exhibit 173: Information sources

• 13.5 List of abbreviations 
• Exhibit 174: List of abbreviations

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio