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Global In-Store Music Service Market Size By Type (Streaming Media Service, Audio Equipment), By Application (Retail Stores, Cafes and Restaurants), By Geographic Scope And Forecast


Published on: 2024-08-08 | No of Pages : 320 | Industry : latest updates trending Report

Publisher : MIR | Format : PDF&Excel

Global In-Store Music Service Market Size By Type (Streaming Media Service, Audio Equipment), By Application (Retail Stores, Cafes and Restaurants), By Geographic Scope And Forecast

In-Store Music Service Market Size And Forecast

In-Store Music Service Market size was valued at USD 2.15 Billion in 2024 and is projected to reach USD 3.39 Billion by 2031, growing at a CAGR of 5.8% from 2024 to 2031.

The worldwide In-Store Music Service Market is expected to expand further, owing to shifting customer tastes, technology improvements, and increased appreciation for music’s role in enriching the shopping experience. Businesses must prioritize customization, compliance with licensing and copyright restrictions, and the integration of technology to create personalized and engaging in-store music experiences to compete in this competitive market. As retailers continue to spend in developing distinctive shopping environments, the in-store music service sector will play an increasingly important role in determining retail’s future.

Global In-Store Music Service Market Definition

The “In-Store Music Service” is a specialized segment of the music industry dedicated to providing licensed ambient music for a wide range of commercial settings, including restaurants, retail stores, public spaces, and office buildings. This market distinguishes itself by its commitment to delivering background music services tailored to the specific needs and preferences of businesses and their clientele. In essence, the In-Store Music Market involves the licensing, creation, curation, and distribution of music playlists and audio content designed to enhance the ambiance and customer experience within physical establishments. These services aim to create a pleasant and engaging auditory environment while aligning with the branding and atmosphere of the business.

In doing so, the In-Store Music Market offers businesses a means to elevate the overall customer experience, influence consumer behavior, and ultimately drive sales and customer loyalty through the strategic use of music and audio content. Furthermore, the In-Store Music Market is characterized by its ability to provide a cost-effective alternative for businesses, allowing them to bypass the annual fees typically associated with national performing and neighboring rights organizations. This unique niche within the music industry plays a pivotal role in shaping the atmosphere and enhancing the commercial success of various enterprises.

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Global In-Store Music Service Market Overview

The in-store music service industry includes a variety of services that serve the music needs of companies such as retail stores, restaurants, hotels, and other commercial enterprises. These services include customized playlists, music licensing, and audio branding to create a pleasant and engaging environment for consumers while aligning with the business’s corporate identity. In-store music services may improve the shopping experience, establish the tone, and influence customer behavior in a variety of retail and commercial settings. Consumer preferences are one of the key drivers of the in-store music service sector. Today’s shoppers want a more immersive and entertaining shopping experience, and music may help provide just that.

Businesses in a variety of industries, including retail, hospitality, and healthcare, understand the value of crafting the right playlist to engage consumers and improve their entire experience. Technological advancements have changed the way music is presented and handled in retail environments. With the introduction of cloud-based music streaming services, companies may now access a large collection of songs and customize playlists depending on their target demographic and corporate identity. Furthermore, the use of artificial intelligence (AI) and machine learning algorithms enables real-time playlist modifications to match a store’s atmosphere and customer flow.

The emphasis on customization and personalization is one of the important trends in the in-store music service sector. Retailers are using data analytics and AI-powered algorithms to create playlists that reflect their brand image and customer demographics. Personalized music experiences increase client engagement and loyalty, making this an important part of industry growth. While there is significant potential in the in-store music service sector, there are also difficulties and regulatory issues. Licensing and copyright concerns may be complicated, and merchants must guarantee that they have the right to play music in their businesses. Noncompliance might result in legal issues as well as financial consequences.

Global In-Store Music Service Market Segmentation Analysis

The Global In-Store Music Service Market is segmented on the basis of Type, Application, And Geography.

In-Store Music Service Market, By Type

  • Streaming Media Service
  • Audio Equipment

To Get a Summarized Market Report By Type-

Based on Type, The market is segmented into Streaming Media Service and Audio Equipment. Streaming media services accounted for the largest market share in 2022. The market for in-store music services is driven by streaming media services, which give companies access to a huge song selection, simple playlist management, and immediate updates that improve customer experiences and loyalty to the company. On the other hand, by giving companies access to high-quality sound delivery, easy integration, and remote administration capabilities, advanced audio equipment functions as a catalyst for the in-store music service sector, enhancing the influence of carefully selected soundscapes on client pleasure and revenue.

In-Store Music Service Market, By Application

  • Retail Stores
  • Cafes and Restaurants
  • Leisure Places & Hotels
  • Others

Based on Application, The market is bifurcated into Retail Stores, Cafes and Restaurants, Leisure Places & Hotels, and Others. The retail stores segment is dominating the growth of the market. As companies use carefully crafted soundscapes to create welcoming shopping experiences, strengthen brand identities, and increase sales, retail establishments are fuelling the in-store music service business. As companies use carefully crafted soundscapes to create welcoming shopping experiences, strengthen brand identities, and increase sales, retail establishments are fueling the in-store music service business.

In-Store Music Service Market, By Geography

  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • Latin America

To Get a Summarized Market Report By Geography-

Based on Regional Analysis, The Global In-Store Music Service Market is classified into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. In 2022, North America accounted for the largest market share accounted the largest market share for global in-store music service market due to the region’s businesses increasingly investing in licensed and rights-cleared music to avoid legal complications. Moreover, there is a growing emphasis on technology integration to create holistic in-store experiences, incorporating music, lighting, and digital signage. Data-driven insights are being leveraged to fine-tune music selections and understand customer behavior.

Key Players

The “Global In-Store Music Service Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Usen Corporation, Mood Media, PlayNetwork, Imagesound, Brandtrack, TouchTunes, Open Ear Music, Soundreef, Ambie Music Ltd., Pandora Media Inc. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

  • In July 2023, TouchTunes, the largest in-venue interactive music and entertainment platform in the United States has partnered with superstar Toby Keith for the launch of the exclusive artist-curated playlist, “Toby Keith PresentsMade In America,” which is now available on TouchTunes jukeboxes nationwide and through their industry-leading jukebox mobile app, just in time for the Independence Day holiday weekend.
  • In July 2023, Crafted the perfect playlist for Rosa’s Thai 15th birthday celebrations. For Rosa’s 15th birthday celebrations, Open Ear Music’s talented curator, Stephen Gomberg, was tasked with curating the perfect soundtrack
  • In March 2023, With the acquisition of Vibenomics, the leading provider of in-store ad network technology and services, Mood Media increased its offering of in-store solutions. Deeper insights for advertisers, more opportunities for brands to earn money, and increased consumer engagement and analytics at the point of sale are all made possible by combining Mood Media’s breadth and scale as the top provider of in-store experiences with Vibenomics’ unique technological position in on-premise media solutions.
  • In September 2022, Usen-Next Group established Usen Square Kobe, a workplace and showroom where clients can view and interact with the cutting-edge retail DX. Usen Square, which includes Usen Square Nagaoka and Usen Square Matsuyama, will act as the information-dissemination hub for shop DX. The cafe’s décor and features mimic the operations of a physical store, and the layout was created to make it simpler to visualize retail operations.

Report Scope

REPORT ATTRIBUTESDETAILS
STUDY PERIOD

2021-2031

BASE YEAR

2024

FORECAST PERIOD

2024-2031

HISTORICAL PERIOD

2021-2023

UNIT

Value (USD Billion)

Key Companies Profiled

Usen Corporation, Mood Media, PlayNetwork, Imagesound, Brandtrack, TouchTunes, Open Ear Music, Soundreef, Ambie Music Ltd., Pandora Media Inc.

Segments Covered
  • By Type
  • By Application
  • By Geography
CUSTOMIZATION SCOPE

Free report customization (equivalent to up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope

Research Methodology of Market Research

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Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as w

Table of Content

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