Jango

Europe's Podcast Market Size to Grow by USD 1.13 billion from 2023 to 2027, Rising penetration of smartphones to boost market growth, Technavio

Retrieved on: 
Tuesday, March 26, 2024
Apple Inc., Internet access, Podcast, Alphabet Inc., Amazon (company), Conversation, USD, Artificial intelligence, Interview, Media, Risk, OTT, Education, SONOS, Radio, Comedy, Machine learning, Internet, Paramount Streaming, App Store (iOS/iPadOS), News, Politics, Samsung, Advertising, Jango, Culture, Forecasting, Growth, BBC, Music, Mobile phone

This segment, valued at USD 51.76 million in 2017, benefits from accessibility features, aiding blind individuals and allowing listeners to adjust playback speed.

Key Points: 
  • This segment, valued at USD 51.76 million in 2017, benefits from accessibility features, aiding blind individuals and allowing listeners to adjust playback speed.
  • The rising penetration of smartphones and easy access to the internet is notably driving the market growth:
    The increasing smartphone penetration and internet accessibility drive market growth.
  • The global podcast market size is estimated to grow by USD 15.7 billion between 2023 and 2028, accelerating at a CAGR of 29.08%.
  • The music market size is forecast to increase by USD 70.02 Billion at a CAGR of 12.57% between 2023 and 2028.

Podcast Market in Europe to grow by USD 1,127.66 million from 2022 to 2027; The rising penetration of smartphones and easy access to the internet is notably driving the market growth - Technavio

Retrieved on: 
Monday, June 5, 2023
Apple Music, Amazon (company), Advertising, Music, Internet, Electronics, Politics, Culture, Apple Inc., Sony, COVID-19, BBC, Media, Samsung, Apple Music 1, Android, Jango, USD, Comprehensive, App Store (iOS/iPadOS), IOS, Siri, Paramount Streaming, SONOS, Investment, AV, Radio, Sport, HomePod, Growth, Alphabet Inc., News, Television, Geography, Retail, Mobile phone, Video game, Spotify, Apple

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Key Points: 
  • Buy Now
    Major Drivers & Challenges- The market is driven by factors such as the rising penetration of smartphones and easy access to internet, increase in number of subscriptions services, and the growth in mobile advertisement spending.
  • intense competition among podcast service providers and inconsistent user preferences is hindering market growth.
  • Rising penetration of smartphones and easy access to internet: Users are choosing podcasts due to the introduction of high-end smartphones and the ease of access to the Internet.
  • Users can easily access video and music content while they are on the go thanks to the growing popularity of smartphones.