Background Music Consumption Market Synopsis:
In this report, LP Information covers the present scenario with the base year being 2017 and the growth prospects of global Background Music market for 20182023.
Background music is an integral part of modern commercial space like malls, retail stores, transit, elevators and other public spaces. This kind of music is intended for passive listening, and it helps in improving the ambience of the place. It is also seen to affect the customers mood positively, resulting in better shopping experiences for the customers and the retailers. The increase in the number of commercial spaces, high preference for entertainment, and growth in the tourism sector are the major factors that are driving the market growth.
USA is one of the largest consumption countries of Background Music in the world in the past few years and it will keep increasing in the next few years. USA market took up about 31.34% global market in 2016, while Europe was 28.18%, and Japan is followed with the share about 9.75%.
Mood Media, PlayNetwork, TouchTunes, Usen Corporation, SiriusXM for Business and Pandora for Business are key service providers in Global background music market. The global background music market is highly competitive and fragmented due to the presence of quite a few providers. The providers compete on the basis of pricing, music library size, and genre to sustain in the market.
Each of the Background Music participants has its own mature sales networks. Through their authorized distributors or their partners, Background Music companies keep keen on expanding their Background Music sales. To achieve better sales businesses, Background Music providers usually invest on their marketing channel every year.
Over the next five years, LPILP Information projects that Background Music will register a 6.5% CAGR in terms of revenue, reach US$ 1960 million by 2023, from US$ 1340 million in 2017.
This report presents a comprehensive overview, market shares, and growth opportunities of Background Music market by product type, application, key manufacturers and key regions.
To calculate the market size, LP Information considers value and volume generated from the sales of the following segments:
Segmentation by product type:
Video game and blog music
Internet delivered background music
Segmentation by application:
This report also splits the market by region:
Middle East & Africa
The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report:
SiriusXM for Business
Pandora for Business
Easy on Hold
Xenon Music Media
Open Ear Music
Cloud Cover Music
In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key manufacturers and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.
To study and analyze the global Background Music consumption value & volume by key regions/countries, product type and application, history data from 2013 to 2017, and forecast to 2023.
To understand the structure of Background Music market by identifying its various subsegments.
Focuses on the key global Background Music manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.
To analyze the Background Music with respect to individual growth trends, future prospects, and their contribution to the total market.
To share detailed information about the key factors influencing the growth of the market growth potential, opportunities, drivers, industryspecific challenges and risks.
To project the consumption of Background Music submarkets, with respect to key regions along with their respective key countries.
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.