Acumen Research and Consulting recently published a report titled “Podcasting Market Size, Share, Region Analysis and Forecast Report, 2022 – 2030”.
TOKYO, July 24, 2022 (GLOBE NEWSWIRE) — The Global podcast market The size was valued at $13,785 million in 2021 and is forecast to be worth $153,071 million by 2030, with a CAGR of 31.2% from 2022 to 2030.
In recent years, podcasting has grown significantly, following other markets like audiobooks and streaming music. During the pandemic, it served as a way to stay up-to-date and engaged when everyone was taking care of chores and working remotely, and even served as a corporate strategy solution for some organizations. The podcasting market has grown in popularity to the point where around 197 million Americans are aware of it. In the United States, this equates to around 70% of people who are aware of podcasts. Podcasting, as a method of market expansion, allows users to interact with their target audience on a more personal level. According to predictions, the demographics of podcast listeners will continue to change in pace with the variety of content available. Podcast listeners are completely immersed in the knowledge available these days, from young teens to seniors of all genders, races, and occupations. According to the Forbes survey, 52 percent of all Internet users between the ages of 16 and 64 listen to podcasts.
A podcast is an episodic collection of digital audio files that consumers can listen to on both tablets and smartphones. Various streaming, streaming, and podcasting services and apps provide a comprehensive technique for managing personal consumption queues. Popular content marketing services include Spotify, Google Podcasts, TuneIn Radio, Apple Podcasts, Stitcher, and others. In addition to providing entertainment, large corporations use podcasts to communicate with a large audience. Today, companies and organizations can use podcasts to share their experiences from anywhere, helping them establish their credibility in the industry.
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| Market | podcast market | |
| Market size 2021 | USD 13,785 Million | |
| Market Forecast 2030 | USD 153,071 Million | |
| CAGR During 2022 – 2030 | 31.2% | |
| Analysis period | 2018 – 2030 | |
| base year | 2021 | |
| forecast data | 2022 – 2030 | |
| Covered segments | By genre, by format and by geography | |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa | |
| Key Companies Profiled | Amazon.com, Inc., Spotify AB, Apple, Inc., Pandora Media, LLC, Soundcloud Limited, Audacy, Inc., Megaphone LLC, Stitcher, iHeartMedia Inc. and TuneIn, Inc. |
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| Report Coverage | Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiles, Regulatory Analysis |
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| Customization Scope | 10 hours of free customization and expert consultation | |
Dynamics of the global podcasting market
In recent decades, the podcasting market has seen significant growth, driven by factors such as the implementation of the Internet of Things (IoT), deep learning, and artificial intelligence (AI) in podcasting platforms, as well as the rise of expendable income. Additionally, rising smartphone penetration has driven down data prices and the advancement of machine learning (ML) and artificial intelligence (AI) have helped create an ideal atmosphere for streamers to survive and thrive. what drives the market. Today, only a few players dominate the music streaming market and use state-of-the-art technology to bring users a virtually unlimited variety of music from artists around the world. This appears to be a welcome opportunity for the entertainment business, which has long been plagued by Internet piracy and declining profits.
Furthermore, the ease of availability and accessibility of podcasts when traveling and multitasking activities such as jogging, cleaning, gardening or exercising support the growth of the market. The availability of high available bandwidth, the advent of smartphones, and more recently personal digital assistants have paved the way for this industry to rebuild itself from niche media to increasingly accepting forms of popular music. plus the new podcasting channels. Furthermore, the adoption of smartphones has increased substantially in recent years in both developed and developing countries. As a result, many customers have access to podcasts and audiobooks. As a result, these factors are projected to drive the expansion of the global podcasting market during the forecast period.
Increasing penetration of smartphones and low-cost internet is expected to drive the global podcasting market
In recent years, smartphone adoption has increased substantially in both industrialized and developing economies. According to a study published by the Indian Cellular and Electronics Associations with KPMG, mobile phone penetration in rural India increased from 9% in 2015 to 25% in 2018. According to the research, India would have around 800 million mobile phone users phones by 2022. In addition to that, the popularity of the Internet has also accelerated. As a result, a large number of people are now exposed to audiobooks and podcasts. Therefore, these factors are anticipated to drive the global podcasting market over the course of the forecast period.
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Market segmentation
The global podcasting market is divided into genre and format, according to Acumen Research and Consulting. Based on genre, the market has been classified into news and politics, sports, society and culture, comedy, and others. Based on format, the market is categorized into interviews, solo, panels, conversational, and repurposed content.
Regional Outlook for the Podcasting Market
The podcast market is categorized into five regions: Europe, Asia-Pacific, North America, Latin America, and the Middle East and Africa. The Asia-Pacific area is expected to grow rapidly in the coming years. This growth is associated with increasing smartphone penetration and low Internet availability costs, which are driving regional growth. Furthermore, due to its early acceptance of new technologies and the presence of a diverse audience of listeners of all ages, China held the majority of the market share in the podcast market. The introduction of numerous platforms has enabled the growth of independent content creators, which has translated into an increase in the availability of new content. However, in recent years, India has seen a steady rise in the use of podcast entertainment.
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Podcasting Market Players
Some of the prominent companies in the podcast market include Amazon.com, Inc., Spotify AB, Apple, Inc., Pandora Media, LLC, Soundcloud Limited, Audacy, Inc., Megaphone LLC, Stitcher, iHeartMedia Inc., and TuneIn, Inc. .
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