The requirement for carefully fabricated and officially licensed in store music playlists is growing as businesses become more aware of the crucial role of music playlists in offering enhanced brand identification and memorable shopping experiences
Global In store Music Service
Market Report
2024
the global in-store music services market size was USD 0.4 billion in 2022 to grow at a compound yearly growth rate (CAGR) of 8.50% from 2023 to 2030.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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According to Cognitive Market Research, the global in-store music services market size was USD 0.4 billion in 2022 to grow at a compound yearly growth rate (CAGR) of 8.50% from 2023 to 2030.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global In store Music Service Market Sales Revenue 2023 | $ 0.4 Billion |
Global In store Music Service Market Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 8.5% |
Market Split by Type |
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Market Split by Application |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Key Qualitative Information Covered |
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Report scope is customizable as we have a huge database of In store Music Service industry. We can deliver an exclusive report Edition/Consultation as per your data requirements. Request for your Free Sample Pages.
In store Music Service Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
The requirement for carefully fabricated and officially licensed in-store music playlists is growing as businesses become more aware of the crucial role of music playlists in offering enhanced brand identification and memorable shopping experiences. The utilization of in-store music services has the ability to enhance the shopping experience, persuade current clients to stay longer, and attract new customers by providing them a pleasurable and distinctive shopping experience. This creates a welcoming environment that will encourage customer engagement and loyalty.
For instance, a privately held company, Muzak Holdings LLC, which is a leading provider of sensory branding services for businesses in the United States, entered a conclusive agreement in order to be acquired by Mood Media Corporation for 345 million US dollars, inclusive of net debt be repaid on closing. The latter is a leading in-store music media specialist.
(Source:www.bloomberg.com/profile/company/14320Z:US#xj4y7vzkg)
The market for in-store music services has undergone a revolution because of technological advances. The services can be integrated with other technologies like digital signage, mobile applications, and beacons in order to create a seamless omnichannel experience for the customers.
The vendors are offering the services with increased adoption of cloud technology, which allows them to offer a wide range of content at lower prices while minimizing operational complexity.
(Source:www.mckinsey.com/featured-insights/mckinsey-explainers/what-is-cloud-computing)
The market players can collaborate and partner in order to provide integrated solutions to the business. The technology has made it simpler for retailers to implement in-store music services at low cost by offering access to higher-quality sound systems at minimized costs. Customized music is a way to accomplish this goal by providing a pleasant atmosphere while customer shops.
The integration of in-store music services with the existing audio systems and equipment can be complex, mainly in older establishments. Additional investments and technical expertise may be needed to ensure compatibility and seamless integration. Further, in-store music services involve costs related to licensing fees. Small and medium-sized enterprises with limited budgets may find it challenging to invest in comprehensive in-store music solutions. The service also requires proper licensing agreements with music labels and copyright holders. The navigation of the complex landscape of music licensing can be a challenge for businesses, mainly for the multiple jurisdiction operating brands.
Due to the lockdowns and restrictions on in-person shopping and dining, several businesses like retail stores, cafes, hostels, and other places were temporarily closed, causing a decline in the demand for in-store music services. However, with the gradual reopening, there was an increased emphasis on creating engaging and safe customer experiences. In-store music services had an important role in developing the correct atmosphere and sticking to safety and health guidelines. Few service providers also offered remote management solutions to ensure minimal physical contact.
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The market for in-store music services market is highly fragmented and competitive with established players and evolving startups. The key market participants are major technology companies, music labels, and specialized in-store music service providers. They compete on music catalog size, ease of use, customization capabilities, pricing models, and customer support. The companies are hugely investing in technology advancements and partnerships in order to attain a competitive edge.
December 2020: A leading private equity firm, Vital Capital, a firm that specializes in transformational investments in established technology companies, announced that it has signed an agreement to buy Mood Media. Mood Media is the leading global in-store media solutions company dedicated to enhancing the Customer Experience.
(Source:www.businesswire.com/news/home/20201201005356/en/Vector-Capital-to-Acquire-Mood-Media)
August 2021: Mood Media Corporation announced the acquisition of DMX Holdings Inc. for USD 86.1 million in cash, inclusive of net debt repaid at closure to certain working capital adjustments. The equity value of the transaction is anticipated to be 53.8 dollars million.
Top Companies Market Share in In store Music Service Industry: (In no particular order of Rank)
If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.
According to Cognitive Market Research, North America dominated the market in 2022 and accounted for the largest share of global revenue due to several variables. The North American region dominates the market for in-store music services. The increased adoption of advanced technology and the availability of key market players in this region is creating growth opportunities for the market. The growing demand for heavy foot traffic, customization, and shifting attitude of customers towards music in the retail settings.
According to Cognitive Market Research, due to its significant economic size, vast global corporate presence, and diversified population, the United States is anticipated to hold a strong position in the North American area. The new service or product launches, business expansion, partnerships, and acquisitions in this country are fuelling the growth of the market. Technology improvements and cultural variety in the nation also helped to be at the top spot in the regional market for in-store music services.
The leading quick technological breakthroughs in this region and AI-driven solutions significantly improve service effectiveness and quality, spurring additional expansion. The rising adoption of digital technologies in retail stores throughout the nations of the Asia Pacific region, inclusive of China, India, Australia, Japan, Korea, Singapore, Thailand, Vietnam and Malaysia. The key market players and the government are taking the initiative to invest in this market for better customer experience and to increase the visits of customers.
The current report Scope analyzes In store Music Service Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only.
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Global In store Music Service Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing In store Music Service Industry growth. In store Music Service market has been segmented with the help of its Type, Application , and others. In store Music Service market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
According to Cognitive Market Research, the increased adoption of streaming services is one of the factors boosting the growth of this segment globally. A streaming media service is a popular online entertainment source for movies, the TV shows and other streaming media; they offer alternatives to satellite and cable on-demand services at lower prices. The utilization of streaming services generally needs fees, either on the subscription or per view.
Amplification devices, microphones and speakers are also being increasingly utilized in stores in order to enhance the shopping experience for clients, and they can be linked to online music streaming programs and services like Pandora, Apple Music, and Spotify. Therefore, the Audio Equipment segment is anticipated to boost the growth of segment throughout the forecast period.
The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of In store Music Service Industry. Request a Free Sample PDF!
Customers are frequently in retail stores for both shopping and entertainment purposes; thus, this segment commands the largest market share for the in-store music services. Retail establishments provide their customers with a unique experience by combining entertainment, music, and shopping. The growing competition in e-commerce has made the quality of the shopping experience to become one of the main factors differentiating the physical stores. The loudness, tempo and style of the music played can assist in communicating the personality of the brand to the customer, even before entering the door.
According to Cognitive Market Research, the café and restaurant market is growing fast as it is one of the most well-liked places for clients to enjoy drinks, food and music. Hotel and leisure facilities offer their guests in-room entertainment by giving them music services, attracting more visitors.
The above Graph is for representation purposes only. This chart does not depict actual Market share.
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Research Associate at Cognitive Market Research
Anjali Lawand is an accomplished market researcher with a distinct focus on the intricate sector of the Aerospace and Defense. Driven by an unshakable analytical prowess and an insatiable appetite for technological progress, she has committed more than ten years to immersing herself in the ever-evolving panorama that molds the trajectory of aviation, space exploration, and the critical sphere of national security.
Anjali is a results-driven research analyst with a passion for transforming complex information into strategic insights. Grounded in a solid expertise in research and analysis in aerospace and defence category. She thrive on the challenges of data exploration and analysis.Her goal is to provide organizations with the actionable intelligence they need to navigate an ever-evolving business landscape and succeed in their business goals.
In her current role, Anjali manages research for aerospace and defence category, leading pivotal research initiatives, delving into market trends, consumer behavior, and competitive landscapes. She possess a proven ability to decipher intricate datasets, employing statistical models and visualization tools to deliver strategic insights. Collaborating seamlessly with cross-functional teams.She played a key role in shaping successful business strategies grounded in robust research.She dedicated to staying at the forefront of research methodologies and industry advancements. Anjali remains an invaluable asset in the dynamic landscape of market research.
Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global In store Music Service Market is witnessing significant growth in the near future.
In 2023, the Streaming Media Service segment accounted for noticeable share of global In store Music Service Market and is projected to experience significant growth in the near future.
The Retail Stores segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies PlayNetwork , Pandora for Business and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Please note, we have not disclose, all the sources consulted/referred during a market study due to confidentiality and paid service concern. However, rest assured that upon purchasing the service or paid report version, we will release the comprehensive list of sources along with the complete report and we also provide the data support where you can intract with the team of analysts who worked on the report.
The term in store music services describes the personalized background music options offered to eateries retail establishments and other business settings Through carefully chosen playlists these services hope to improve customer experience adhere to brand identity and affect consumer behavior
Disclaimer:
Type | Streaming Media Service, Audio Equipment |
Application | Retail Stores, Instruction Cafes and Restaurants, Leisure Places and Hostels, Public Institutions, Others |
List of Competitors | PlayNetwork, Usen Corporation, Pandora for Business, Sunflower Music, Heartbeats International, SoundMachine, Almotech, Xenon Music, Soundtrack, Jamendo Listening, Auracle Sound, Express Melody, Easy On Hold, Open Ear Music, Kasimu, StorePlay, Mood Media, NSM Music, SiriusXM for Business, Custom Channels |
This chapter will help you gain GLOBAL Market Analysis of In store Music Service. Further deep in this chapter, you will be able to review Global In store Music Service Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Chapter 2 North America Market Analysis
Chapter 3 Europe Market Analysis
Chapter 4 Asia Pacific Market Analysis
Chapter 5 South America Market Analysis
Chapter 6 Middle East and Africa Market Analysis
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Chapter 7 Top 10 Countries Analysis (Only Available with Corporate User License)
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Type Analysis 2019 -2031, will provide market size split by Type. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Type Analysis 2019 -2031
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 11 Market Split by Application Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global In store Music Service market
Chapter 12 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Streaming Media Service have a significant impact on In store Music Service market? |
What are the key factors affecting the Streaming Media Service and Audio Equipment of In store Music Service Market? |
What is the CAGR/Growth Rate of Retail Stores during the forecast period? |
By type, which segment accounted for largest share of the global In store Music Service Market? |
Which region is expected to dominate the global In store Music Service Market within the forecast period? |
Segmentation Level Customization |
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Global level Data Customization |
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Region level Data Customization |
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Country level Data Customization |
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Company Level |
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Additional Data Analysis |
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Additional Qualitative Data |
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Additional Quantitative Data |
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Service Level Customization |
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Report Format Alteration |
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The requirement for carefully fabricated and officially licensed in store music playlists is growing as businesses become more aware of the crucial role of music playlists in offering enhanced brand identification and memorable shopping experiences
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