Audiobooks - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Audiobooks Market is accounted for $2.67 billion in 2019 and is expected to reach $13.45 billion by 2027 growing at a CAGR of 22.4% during the forecast period. Some of the key factors propelling the market growth are the increase in younger listener inventory, expansion of home studios, and easy accessibility of copies. However, the lack of smooth transition from taped materials to intelligent devices is the restraining factor for the growth of the market.
An audiobook is a transcription of a book or other work being read aloud. These recordings are being narrated by the authors or any other voiceover artists. Recording and editing have been easier like never before, and hence amateur authors, narrators, and publishers can produce a decent quality of audiobooks.
By device, the smartphones segment is expected to grow at a significant market share during the forecast period owing to the portability to access recorded book versions while performing various other tasks in the background. Based on geography, North America is anticipated to hold considerable market share during the forecast period as this region is an early adopter of the latest technologies that are used in audiobooks.
Some of the key players in Audiobooks market include Google, Amazon, Scribd, Audible Inc, Storytel, AudiobooksNow, Penguin Random House LLC, Downpour, PODIUM PUBLISHING, Barnes Noble Booksellers Inc, Kobo, OverDrive, LibriVox, RBmedia, NOOK Digital LLC, and Rakuten Kobo Inc.
• Desktop, Laptops, and Tablets
• Personal Digital Assistants
• Suspense & Thriller
• Personal Grooming & Motivational
Subscription Types Covered:
Age Groups Covered:
Distribution Channels Covered:
• One-Time Download
• Educational Institutes
• Industries/Commercial Sector
• Book Club
End Users Covered:
• Employed Professional
• Homemaker Retirees
Enterprise Sizes Covered:
• Large Enterprises
• Small & Medium Enterprises
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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- Market share assessments for the regional and country-level segments
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