Audiobook Trends and Forecast
The future of the global audiobook market looks promising with opportunities in the smartphone, laptop & tablet, and personal digital assistant markets. The global audiobook market is expected to reach an estimated $20.6 billion by 2030 with a CAGR of 22.4% from 2024 to 2030. The major drivers for this market are growing adoption of digital devices, increase in digital transformation technologies, and rising appeal of audiobooks to younger people.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Audiobook by Segment
The study includes a forecast for the global audiobook by genre, target audience, preferred device, distribution channel, and region.
Audiobook Market by Genre [Shipment Analysis by Value from 2018 to 2030]:
• Fiction
• Non-Fiction
Audiobook Market by Target Audience [Shipment Analysis by Value from 2018 to 2030]:
• Kids
• Adults
Audiobook Market by Preferred Device [Shipment Analysis by Value from 2018 to 2030]:
• Smartphones
• Laptops & Tablets
• Personal Digital Assistants
• Others
Audiobook Market by Distribution Channel [Shipment Analysis by Value from 2018 to 2030]:
• One-Time Download
• Subscription-Based
Audiobook Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Audiobook Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies audiobook companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the audiobook companies profiled in this report include-
• Amazon.com
• Apple
• Audible
• Barnes & Noble Booksellers
• Downpour.com
• Google
• PLAYSTER
• Rakuten Group
• Storytel
• W.F.Howes
Audiobook Market Insights
Lucintel forecasts that non-fiction will remain the larger segment over the forecast period due to growing use of audiobooks by parents as educational resources for their children.
Within this market, smartphone will remain the largest segment.
North America will remain the largest region over the forecast period due to the rapid and early adoption of technology to enhance user experience.
Features of the Global Audiobook Market
Market Size Estimates: Audiobook market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Audiobook market size by various segments, such as by genre, target audience, preferred device, distribution channel, and region in terms of value ($B).
Regional Analysis: Audiobook market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different genre, target audience, preferred devices, distribution channels, and regions for the audiobook market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the audiobook market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the audiobook market size?
Answer: The global audiobook market is expected to reach an estimated $20.6 billion by 2030.
Q2. What is the growth forecast for audiobook market?
Answer: The global audiobook market is expected to grow with a CAGR of 22.4% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the audiobook market?
Answer: The major drivers for this market are growing adoption of digital devices, increase in digital transformation technologies, and rising appeal of audiobooks to younger people.
Q4. What are the major segments for audiobook market?
Answer: The future of the audiobook market looks promising with opportunities in the smartphone, laptop & tablet, and personal digital assistant markets.
Q5. Who are the key audiobook market companies?
Answer: Some of the key audiobook companies are as follows:
• Amazon.com
• Apple
• Audible
• Barnes & Noble Booksellers
• Downpour.com
• Google
• PLAYSTER
• Rakuten Group
• Storytel
• W.F.Howes
Q6. Which audiobook market segment will be the largest in future?
Answer: Lucintel forecasts that non-fiction will remain the larger segment over the forecast period due to growing use of audiobooks by parents as educational resources for their children.
Q7. In audiobook market, which region is expected to be the largest in next 5 years?
Answer: North America will remain the largest region over the forecast period due to the rapid and early adoption of technology to enhance user experience.
Q.8 Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the audiobook market by genre (fiction and non-fiction), target audience (kids and adults), preferred device (smartphones, laptops & tablets, personal digital assistants, and others), distribution channel (one-time download and subscription-based), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Audiobook Market, Audiobook Market Size, Audiobook Market Growth, Audiobook Market Analysis, Audiobook Market Report, Audiobook Market Share, Audiobook Market Trends, Audiobook Market Forecast, Audiobook Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.