Global Audiobooks Market 2024-2028
The audiobooks market is forecasted to grow by USD 20652.6 mn during 2023-2028, accelerating at a CAGR of 33.19% during the forecast period. The report on the audiobooks market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by proliferation of smart devices and applications, rising adoption of online language translation modules in audiobooks, and integration of artificial intelligence with audiobooks.
Technavio's audiobooks market is segmented as below:
- By Type
- Fiction
- Non-fiction
- By Channel
- One-time download
- Subscription-based
- By Geographical Landscape
- North America
- Europe
- APAC
- South America
- Middle East and Africa
This study identifies the increasing use of voice assistants and smart speakers to listen to audiobooks as one of the prime reasons driving the audiobooks market growth during the next few years. Also, increasing partnerships and mergers and acquisitions among vendors and increasing launch of audiobook applications will lead to sizable demand in the market.
The report on the audiobooks market covers the following areas:
- Audiobooks market sizing
- Audiobooks market forecast
- Audiobooks market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading audiobooks market vendors that include Alphabet Inc., Amazon.com Inc., Apple Inc., Barnes and Noble Booksellers Inc., Bonnier, BookLender.com, DOWNPOUR, KUKU FM, Libro.fm SPC., LMBPN Publishings, Midwest Tape LLC, Open Culture LLC., Pubmark Inc., Rakuten Group Inc., RBmedia, Scribd Inc., Spotify Technology SA, Storynory Ltd., Storytel AB, and W.F. Howes Ltd.. Also, the audiobooks market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive primary and secondary research. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.