IMARC Group, a leading market research company, has recently releases report titled “Background Music Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global background music market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Industry Overview of Background Music Market
Background music refers to a type of recorded sound that acts as an unobtrusive accompaniment in various visual content, including films, commercials, marketing videos, etc., to affect the emotional and behavioral responses of humans. It is commonly played at low volume in numerous virtual spaces, empty halls, fitting rooms, and massively multiple online role-playing games (MMORPG) to allow speakers to communicate clearly. Background music assists in inducing a positive mood, reduces stress, tension, nervousness, and anxiety, enhances concentration, arousal, and performance related to other tasks, etc., by providing a relaxing experience. It eliminates the occurrence of negative moods, creates a positive working atmosphere, promotes creativity, improves sleep quality and cognition, provides motivation, etc. Consequently, background music is played across numerous entertainment places and public organizations.
How Big Is the Background Music Market?
The global background music market size reached US$ 1.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 2.2 Billion by 2028, exhibiting a growth rate (CAGR) of 5.8% during 2023-2028.
Global Industry Trends and Drivers:
The rising demand for affordable digital subscription-based music services among the millennial population is primarily driving the background music market. Additionally, the expanding media and entertainment industry is further bolstering the market growth. Besides this, the growing popularity of background music in retail stores, elevators, housing buildings, malls, etc., to provide a soothing shopping environment to individuals is acting as another significant growth-inducing factor. Moreover, the emerging trend of joining fitness centers and gyms to perform physical activities, including aerobics and yoga, owing to the increasing consumer health consciousness, is propelling the need for background music in such centers to motivate and encourage, which is also positively influencing the global market. Apart from this, the widespread adoption of consumer electronic devices, such as iPods, desktops, smartphones, etc., is projected to fuel the background music market over the forecasted period.
What Is Included In Market Segmentation?
The report has been segmented the market into following categories:
Type Insights:
Application Insights:
Breakup by Region:
The report provides a comprehensive analysis of the industry key players listed below:
Auracle Sound Ltd., Imagesound, Mood Media LLC, Music Concierge, NSM Music, Open Ear Music, Rockbot, Sirius XM Radio Inc., TouchTunes Music Corporation, etc.
