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Global In-Store Music Service Market to reach USD XX billion by 2027.

Global In-Store Music Service Market Size study, by Product Type (Streaming Media Service, Audio Equipment) by End User (Retail Stores, Cafes & Restaurants, Leisure Places & Hotels, Public Institutions), and Regional Forecasts 2021-2027

Product Code: OIRCGS-20861353
Publish Date: 2-09-2021
Page: 200

Global In-Store Music Service Market is valued approximately USD XX billion in 2020 and is anticipated to grow with a healthy CAGR of XX % over the forecast period 2021-2027. In-store music service deals with streaming music of different genres to influence the ambience of an establishment. The In-store music service market is largely driven by the demand from retail stores and restaurants. Several marketing studies show that the right musical ambience can boost the sales of retailers by up to 50%. Restaurants also experience better sales with musical ambience. As per a study conducted in 1999 by Association of Consumer Research, customers raised their average bill amount by 23% while enjoying slower music. The adoption of In-store music services in workplace is also rapidly increasing. A study at Frost School of Music at the University of Miami in 2005, discovered that IT specialists who listened to music finished work quickly and came up with better ideas. These results are encouraging businesses to play music at their offices.
However, lack of awareness about the importance of in-store music, paired with high cost of these services can impede the growth of the market over forecast period of 2021-27. Also, with the increasing millennial population, and greater technology penetration, In-store music service market is likely to increase the market growth during the forecast period.

Considering Asia Pacific, North America, Europe, Latin America and Rest of the World, the regional analysis demonstrates that North America is the most significant player across the world in terms of market share owing to highly modernized society, developed retail stores, and high digitization. At the same time, Asia-Pacific is anticipated to exhibit the highest growth rate over the forecast period 2021-2027. Factors such as increasing technological penetration, modernization of businesses and boom in millennial population would create lucrative growth prospects for the In-Store Music Service Market across Asia-Pacific region.

Major market player included in this report are:
Usen Corporation
Mood Media
Express Melody
Open Ear Music

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product Type:
Streaming media service
Audio equipment
By End User:
Retail stores
Cafes & restaurants
Leisure places & hotels
Public institutions
By Region:
North America

Asia Pacific
South Korea
Latin America
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2018, 2019
Base year – 2020
Forecast period – 2021 to 2027

Target Audience of the Global In-Store Music Service Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2027 (USD Billion)
1.2.1. In-Store Music Service Market, by Region, 2019-2027 (USD Billion)
1.2.2. In-Store Music Service Market, by Product Type, 2019-2027 (USD Billion)
1.2.3. In-Store Music Service Market, by End User, 2019-2027 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global In-Store Music Service Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global In-Store Music Service Market Dynamics
3.1. In-Store Music Service Market Impact Analysis (2019-2027)
3.1.1. Market Drivers High demand in retail stores & restaurants Rising adoption at workplaces
3.1.2. Market Challenges High cost of hiring in-store music services
3.1.3. Market Opportunities Increasing millennial population motivated by music
Chapter 4. Global In-Store Music Service Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model (2018-2027)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global In-Store Music Service Market, by Product Type
5.1. Market Snapshot
5.2. Global In-Store Music Service Market by Product Type, Performance – Potential Analysis
5.3. Global In-Store Music Service Market Estimates & Forecasts by Product Type 2018-2027 (USD Billion)
5.4. In-Store Music Service Market, Sub Segment Analysis
5.4.1. Streaming Media Service
5.4.2. Audio Equipment
Chapter 6. Global In-Store Music Service Market, by End User
6.1. Market Snapshot
6.2. Global In-Store Music Service Market by End User, Performance – Potential Analysis
6.3. Global In-Store Music Service Market Estimates & Forecasts by End User 2018-2027 (USD Billion)
6.4. In-Store Music Service Market, Sub Segment Analysis
6.4.1. Retail Stores
6.4.2. Cafes & Restaurants
6.4.3. Leisure Places & Hotels
6.4.4. Public Institutions
Chapter 7. Global In-Store Music Service Market, Regional Analysis
7.1. In-Store Music Service Market, Regional Market Snapshot
7.2. North America In-Store Music Service Market
7.2.1. U.S. In-Store Music Service Market Product Type breakdown estimates & forecasts, 2018-2027 End User breakdown estimates & forecasts, 2018-2027
7.2.2. Canada In-Store Music Service Market
7.3. Europe In-Store Music Service Market Snapshot
7.3.1. U.K. In-Store Music Service Market
7.3.2. Germany In-Store Music Service Market
7.3.3. France In-Store Music Service Market
7.3.4. Spain In-Store Music Service Market
7.3.5. Italy In-Store Music Service Market
7.3.6. Rest of Europe In-Store Music Service Market
7.4. Asia-Pacific In-Store Music Service Market Snapshot
7.4.1. China In-Store Music Service Market
7.4.2. India In-Store Music Service Market
7.4.3. Japan In-Store Music Service Market
7.4.4. Australia In-Store Music Service Market
7.4.5. South Korea In-Store Music Service Market
7.4.6. Rest of Asia Pacific In-Store Music Service Market
7.5. Latin America In-Store Music Service Market Snapshot
7.5.1. Brazil In-Store Music Service Market
7.5.2. Mexico In-Store Music Service Market
7.6. Rest of The World In-Store Music Service Market

Chapter 8. Competitive Intelligence
8.1. Top Market Strategies
8.2. Company Profiles
8.2.1. Usen Corporation Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
8.2.2. Mood Media
8.2.3. PlayNetwork
8.2.4. Imagesound
8.2.5. Brandtrack
8.2.6. TouchTunes
8.2.7. Express Melody
8.2.8. StorePlay
8.2.9. Open Ear Music
8.2.10. Soundreef
Chapter 9. Research Process
9.1. Research Process
9.1.1. Data Mining
9.1.2. Analysis
9.1.3. Market Estimation
9.1.4. Validation
9.1.5. Publishing
9.2. Research Attributes
9.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
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Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
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Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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