Published on : Jul 26, 2017
Albany, New York, July 26, 2017: The report offers a comprehensive study of this market, highlighting the key trends, driving forces, challenges, and opportunities. The research study, titled “Global Background Music Market 2017–2021,” emphasizes especially on the current and the past performance of this market in order to determine its future status.
According to the research report, the global background music market has been gaining a significant impetus, thanks to increasing usage of background music in the tourism industry. Researchers anticipate this market to expand tremendously in the near future, rising at a CAGR of 3.69% over the period from 2017 to 2021. The increasing availability of advanced music-mixing systems is likely to boost this market substantially in the years to come, reports the study.
The report has broadly analyzed the global market for background music on the basis of the end user and the geography. Based on the end user, the market has been categorized into the retail sector, the hospitality sector, public infrastructure, and commercial buildings. Among these, the hospitality sector has emerged as the leading end user of background music and is anticipated to continue on this position over the period of the forecast.
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In terms of the geography, the report has classified this market into Asia Pacific (APAC), the Americas, and Europe, the Middle East, and Africa (EMEA). Of these, the Americas has surfaced as the leading regional market for background music. With the presence of potential markets in South America, this regional market is likely to remain on the top over the next few years, states the research report.
The report also presents an exhaustive competitive analysis of the global market for background music on the basis of the performance of the key background music solution vendors across the world. As per the report, the market demonstrates a highly competitive landscape, owing to the presence of a large pool of vendors.
Imagesound, Almotech Media Solutions, Mood Media, PlayNetwork, and NSM Music Group are the leading players functional in this market. These players are focusing on the products’ genre, their pricing, streaming music libraries, artists, and the number of albums to stay strong in this market. In addition to this, they are developing new ideas and working on staying updated with the current music trends and emergent technologies in a bid to strengthen their service lines to gain a greater market share than their competitors.
Other prominent players in the worldwide background music market are SBA Music, CSI Music Services, HIBOU MUSIC, Easy On Hold, Nimbletank, and Sunflower Music, reports the research study.
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