Published On : 17 Jan 2017
A new report, recently added to the vast repository of QYResearchReports.com, presents a comprehensive assessment of the global market for background music. The report, titled “Global Background Music Market 2016 Industry, Analysis, Research, Share, Growth, Sales, Trends, Supply, Forecast to 2021,” takes the key trends and important market factors in consideration to carry out this research.
According to the research report, the growing practice of background music in the tourism industry is likely to boost the global background music market substantially over the forthcoming years. Apart from this, the increasing number of live events is also projected to add to the growth of this market significantly in the near future.
The worldwide market for background music can be analyzed on the basis of the end user and the geographical reach of this market. Based on the end user, the market can be classified into the hospitality industry, commercial building, retailers, and public infrastructures. Among these, hospitality acquired the leading position in 2015 and is expected to remain so over the next few years. The increasing preference of consumers to spend a large portion of their day-to-day life at restaurants, cafes, pubs, hotels, or resorts is expected to aid the scenario in the near future. The continual rise in the hospitality industry is also anticipated to boost the demand for background music in this segment in the years to come, notes the research study.
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On the geographical front, the global market for background music can be classified into Europe, China, Japan, and the United States. The United States led the global market in the past and is projected to continue to dominate over the forthcoming years. The presence of a number of commercial buildings and airports and marine ports is likely to act as the key driving force behind the growth of this market in the near future. With the rise in the tourism industry, China and Japan are also projected to witness a healthy progress in their respective markets for background music in the years to come, states the market report.
A competitive analysis of the global market for background music has also been provided in this research report, wherein the profiles of the key market players have been reviewed thoroughly to determine the market’s hierarchy. As per the research report, the market is highly fragmented and competitive due to the presence of a number of participants. CSI Music, Easy on Hold, Hibou Music, Sunflower Music, Soundjack, and Xenon Music Media are some the leading players operating in this market, reports the research study.
This research study is aimed at presenting a clear picture of the global background music market to the readers in order to help them is gaining a better understanding of this market.
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