Audiobooks Market to grow by USD 10.91 billion from 2022 to 2027, Alphabet Inc., Amazon.com Inc., Apple Inc. to be key players of the boost market- Technavio
NEW YORK, Sept. 14, 2023 /PRNewswire/ — The audiobooks market is estimated to grow by USD 10.91 billion from 2022 to 2027, growing at a CAGR of 25.32%. The audiobook market is fragmented owing to the presence of many global and regional companies. A few prominent companies that offer audiobooks market are Alphabet Inc., Amazon.com Inc., Apple Inc., Barnes and Noble Booksellers Inc., Bonnier, BookLender.com, DOWNPOUR, KUKU FM, Libro.fm SPC., Midwest Tape LLC, Open Culture LLC., Pubmark Inc., RBmedia, Scribd Inc., Spotify Technology SA, Storynory Ltd., Storytel AB, W.F. Howes Ltd., Rakuten Group Inc., and LMBPN Publishings. The report provides a full list of key companies, their strategies, and the latest developments. Download FREE Sample before buying
- Alphabet Inc. – The company offers audiobooks under the subsidiary of Google LCC.
- Barnes and Noble Booksellers Inc. – The company offers audiobooks for Historical fiction, horror books, fiction audiobooks, and Sci-Fi and fantasy audiobooks.
- For details on companies and their offerings – Buy the report!
By Geography, the market is classified as North America, Europe, APAC, South America, and Middle East and Africa. North America will have the largest share of the market.
- North America is estimated to contribute 35% to the growth of the global market during the forecast period. The US and Canada contribute largely to the growth of the audiobook market in the region. Additionally, some institutions are adopting bring-your-own-device (BYOD) policies in the US, allowing students to gain digital skills while reducing the amount of money institutions spend. Furthermore, the region is home to major companies such as Apple, Downpour, Barnes and Noble Booksellers, Amazon, Alphabet, Rbmedia, and Scribd. Regionally based e-book companies, such as Amazon, are working to provide e-book readers with the ability to play audiobooks. For example, the US version of the Kindle Paperwhite may also support audiobooks. Hence, these factors are expected to drive market growth in the region during the forecast period.
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- Impactful driver- Proliferation of smart devices and applications
- Key Trend – Increasing use of voice assistants and smart speakers to listen to audiobooks
- Major Challenges – Increasing threat from open-source content
- By Channel, the market is classified into one-time download and subscription-based.
Technavio Research experts have provided more insights on the market share of segments – View FREE Sample Report
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Channel
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Company Landscape
12 Company Analysis
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