Background Music Market Size, Trends, Industry Report 2024 - 2032
Background Music Market Size, Trends, Industry Report 2024 - 2032

Background Music Market Share, Size, Trends, Industry Analysis Report, By Type (Music Streaming, AV System Equipment); By Deployment Mode; By End-User; By Region; Segment Forecast, 2024 - 2032

  • Published Date:Apr-2024
  • Pages: 116
  • Format: PDF
  • Report ID: PM1750
  • Base Year: 2023
  • Historical Data: 2019-2022

Report Outlook

Background Music Market size was valued at USD 22.71 billion in 2023. The market is anticipated to grow from USD 23.93 billion in 2024 to USD 36.89 billion by 2032, exhibiting the CAGR of 5.6% during the forecast period

Background Music Market Overview

There is a rise in consumer demand for customized background music to personalize their experience. Companies are looking for background music providers that can customize the playlist to fit their target demographic and brand. Customized playlists and content curation according to location, occasion, consumer preference, and demographic profiles provide services to cater to companies' particular requirements.

  • For instance, in May 2023, Google launched MusicLM, a text-to-music tool that generates songs from a basic prompt. This tool allows more people to make music, enhancing the creative capabilities of existing artists.

Furthermore, technological developments like machine learning and artificial intelligence provide chances to improve background music experiences. AI systems are capable of analyzing user information, preferences, and environmental elements to provide dynamic and customized background music experiences. Companies may obtain a competitive edge and meet changing client expectations by utilizing these technologies to provide intelligent and adaptable background music solutions.

Background Music Market Size

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The challenge is to stay up to date with changing music trends and consumer preferences. For their music libraries and content offerings to remain current and appealing to a variety of businesses, background music suppliers need to regularly update them. In addition, background music must be smoothly integrated with interactive technology and digital signs as more and more businesses use them to create seamless and engaging consumer experiences.

Background Music Market Dynamics

Market Drivers

  • Rise in adoption of AI in background music industry

There has been a surge in the integration of Artificial intelligence in background music has created entire tracks or portions of them using sophisticated algorithms. AI is capable of doing this by using pre-existing samples to produce something fresh or by learning how to make a completely original piece of music from scratch. For instance, in July 2023, AI music app Boomy has said its app has created 14.4 million tracks so far; additionally, Mubert has already generated 100 million tracks to date, which is closely the entire catalog on Spotify.

  • Psychological Impact on Purchasing Behavior

The rising awareness among consumers as well as commercial industries regarding the effect of background music impacts the consumer’s psychological behavior by influencing their buyer behavior. It is most likely that the consumer purchases from that store if they can align their memory with the background music. This creates a positive impact on the consumer’s psychology, enhancing their experience. Background music can subconsciously affect moods and influence the purchasing behaviors of consumers on how much they are willing to dispose of their incomes.

Background Music

Market Restraints

  • Licensing and Copywriting Issue

When playing background music in commercial settings, businesses must make sure that public performance rights are respected and that the appropriate license is obtained. Businesses may find these rules complicated and expensive, especially if they operate in many areas with various licensing requirements. The arbitrary nature of background music tastes is another limitation. Companies need to pick and curate background music with care so that it fits with their corporate image and appeals to their target audience. It might be difficult to strike the appropriate balance and keep up a good playlist since background music works differently depending on the situation and the tastes of the listener.

Report Segmentation

The market is primarily segmented based on type, deployment mode, end-user, and region.

By Type

By Deployment Mode

By End-User

By Region

  • Music Streaming
  • AV System Equipment

 

 

  • Cloud Based Solutions
  • On Premise Solutions

 

  • Retail
  • Healthcare
  • Corporate
  • Leisure and Hospitality
  • Cafes and Restaurants
  • Fitness and Recreational Sport Centres
  • Spas & Wellness Centres
  • Beauty & Hair Salons
  • Others

 

  • North America (U.S., Canada)
  • Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
  • Asia Pacific (Japan, China, India, Malaysia, Australia, Indonesia. South Korea)
  • Latin America (Brazil, Mexico, Argentina)
  • Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

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Background Music Market Segmental Analysis

By Type Analysis

  • The AV segment dominated the market and is expected to dominate over the forecast period due to its ability to produce high-quality audio and video visuals that enhance an event's overall experience. Efficient communication is guaranteed, the audience is successfully engaged, and an ordinary meeting can turn into an unforgettable event with the help of various tools. These tools include microphones, separate recorders, wind and rain protection, video software with audio editing capabilities, limiters, and compressors.
  • The music streaming segment led the industry market with a substantial revenue share, largely attributable to its ability to offer listeners a personalized experience by allowing them to personalize their playlists with infinite song-downloading options. This allows listeners to artistically master their music taste. Music streaming can be done in-app and in-web.

By Deployment Mode Analysis

  • The cloud-based solution segment accounted for the largest market share and is likely to retain its market position throughout the forecast period, enabling customers to effortlessly and conveniently access enormous music and album libraries from any internet-connected device. It takes advantage of Content Delivery Networks (CDNs) to guarantee continuous and error-free audio playing. Social sharing tools, tailored playlists, and simple navigation enhance positive user experiences.
  • The on-premise solution segment is expected to grow at the fastest growth rate over the forecast period. Its easy and cost-effective installation is driving the market's growth. The direct installation of hardware and software on a business's facilities proves to be an easily accessible, time-saving, and efficient solution for businesses. With this deployment strategy, businesses have complete control over the playback and content of their music.

By End-User Analysis

  • Cafes and Restaurants have dominated the market and are expected to dominate it over the forecast period as they create a personalized experience. They enable guests to make the taste of food more flavourful. Background music also affects eating rhythms. Hence, background music plays a pivotal role in enhancing the dining experience of the consumers.
  • The hospitality segment is anticipated to grow at the fastest CAGR owing to having a huge impact on guest loyalty and satisfaction. Playing Different Music in Different Areas: By determining the unique goals of every hotel room and creating a music profile to elevate the ambiance in that location, you may customize the musical experience for all kinds of visitors.

Background Music Seg

Background Music Market Regional Insights

The North America region dominated the global market with the largest market share

The North America region dominated the global market with the largest market share and is expected to maintain its dominance over the anticipated period. The growth of the segment market can be largely attributed to the rapidly increasing investment in commercial spaces such as restaurants, clubs, shopping centers, and gift stores, together with cafeterias and restaurants, which is propelling the use of various background music systems and software. The existence of well-established companies, a robust retail sector, and an emphasis on improving consumer experiences. Background music services are widely used in the area in a variety of industries, including corporate settings, hospitality, and retail.

The Asia Pacific region is expected to be the fastest growing region with a healthy CAGR during the projected period, owing to having a thriving hospitality industry and a strong shopping culture, which is fueling demand for background music solutions. Urbanization, rising disposable incomes, and rising consumer spending are all factors in the region's growth. The impact of background music on consumers and the importance of enhancing the consumer's experience are the driving factors in this region.

Background Music Seg

Competitive Landscape

The background music market is fragmented and is anticipated to witness competition due to several players' presence. Major service providers in the market are constantly upgrading their technologies to stay ahead of the competition and to ensure efficiency, integrity, and safety. These players focus on partnership, product upgrades, and collaboration to gain a competitive edge over their peers and capture a significant market share.

Some of the major players operating in the global market include:

  • Almotech Media Solutions
  • Auracle Sound
  • Cloud Cover Music
  • Express Melody
  • Imagesound
  • Mood Media Corporation
  • OpenEar Music
  • PlayNetwork, Inc.
  • Qsic Pty Ltd.
  • Sirius XM Holdings, Inc.
  • Soundnet Limited
  • TouchTunes Music Corporation
  • Xenox Music & Media B.V.

Recent Developments

  • In March 2024, Beatoven.ai created background music for podcast, video, and game creators utilizing advanced AI music generation techniques to create royalty-free music for commercial applications.
  • In June 2023, Universal and Deezer launched an 'artist-centric' streaming model to generate bigger royalties for artists aimed to reward the artists in a better way to enhance meaningful engagement of users into music.

Report Coverage

The background music market report emphasizes on key regions across the globe to provide better understanding of the product to the users. Also, the report provides market insights into recent developments, trends and analyzes the technologies that are gaining traction around the globe. Furthermore, the report covers in-depth qualitative analysis pertaining to various paradigm shifts associated with the transformation of these solutions.

The report provides detailed analysis of the market while focusing on various key aspects such as competitive analysis, type, deployment mode, end-users, and their futuristic growth opportunities.

Background Music Market Report Scope

Report Attributes

Details

Market size value in 2024

USD 23.93 billion

Revenue forecast in 2032

USD 36.89 billion

CAGR

5.6% from 2024 – 2032

Base year

2023

Historical data

2019 – 2022

Forecast period

2024 – 2032

Quantitative units

Revenue in USD billion and CAGR from 2024 to 2032

Segments covered

By Type, By Deployment Mode, By End-User, By Region

Regional scope

North America, Europe, Asia Pacific, Latin America; Middle East & Africa

Customization

Report customization as per your requirements with respect to countries, region and segmentation.

FAQ's

The Background Music Market report covering key segments are type, deployment mode, end-user, and region.

Background Music Market Size Worth $36.89 Billion By 2032

Background Music Market exhibiting the CAGR of 5.6% during the forecast period

North America is leading the global market

key driving factors in Background Music Market are rise in adoption of AI