Lewes, DE -- (SBWIRE) -- 08/19/2016 -- Report forecast the global background music market to grow at a CAGR of 2.89% during the period 2016-2020.

Background music is an integral part of modern commercial space like malls, retail stores, transit, elevators and other public spaces. This kind of music is intended for passive listening, and it helps in improving the ambience of the place. It is also seen to affect the customer's mood positively, resulting in better shopping experiences for the customers and the retailers. The increase in the number of commercial spaces, high preference for entertainment, and growth in the tourism sector are the major factors that are driving the market growth.

The report covers the present scenario and the growth prospects of the global background music market for 2016-2020. To calculate the market size, Technavio considers the revenue generated by background music used in restaurants, department stores, shopping malls, elevators, airports, cruise ships, and corporate offices in the Americas, APAC, and EMEA.

The market is divided into the following segments based on geography:
- Americas
- APAC
- EMEA

According to the report, a key driver for market growth will be the need to provide a better shopping experience to boost sales. Background music has a significant role in providing a better shopping experience to consumers that eventually leads to boost in sales. It creates an ambience that is appealing to consumers and influences a customer's buying decision. The type of background music played at a place depends on the kind of environment. Most restaurants, shopping malls, and retail outlets play low-volume music to encourage consumers to stay longer.

Further, the report states that one of the challenges hampering market growth will be the availability of royalty-free background music. Many online portals such as Purple Planet, Premium Beat, and Productiontrax provide royalty-free background music for commercial use. The licensing fee varies depending on the customer's use and selected tracks. Many free-to-use tracks available online just require the customer to credit the owner of the track. Royalty-free background music does not generate much revenue as most of the available tracks are free to use. This hinders the revenue growth of vendors, which offers background music on subscription as a small business would opt for royalty free music to paid music service.

Global Background Music Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

key players in the global background music market: Almotech, Imagesound, Mood Media, NSM Music, and PlayNetwork.

Other Prominent Vendors in the market are: CSI Music, Easy on Hold, Hibou Music, and Sunflower Music, Soundjack.

Market driver
- Increased use of background music in elevators
- For a full, detailed list, view our report

Market challenge
- Availability of alternative media
- For a full, detailed list, view our report

Market trend
- Availability of advanced music-mixing systems
- For a full, detailed list, view our report

Key questions answered in this report
- What will the market size be in 2020 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?

Spanning over 46 pages and 24 Exhibit "Global Background Music Market 2016 - 2020" report covers Executive summary, Scope of the report, Market research methodology, Introduction, Market landscape, Industry overview, Market segmentation by customer, Geographical segmentation, Buying criteria, Market drivers, Impact of drivers, Market challenges, Impact of drivers and challenges, Market trends, Vendor landscape, Appendix.

For more information Visit at: http://www.marketresearchreports.com/technavio/global-background-music-market-2016-2020

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