Press release
Podcast Market was valued USD 7,839 million in 2019 and will grow at 31.6% CAGR till 2027 | Size, Share, Growth & Global Forecast
Podcast Market
The Podcast Market was estimated around USD 7,839 million in 2019 and is predicted to grow at a CAGR of 31.6% over the forecast period (2020-2027).
For Additional Insights, Click to Access Complete Report - https://www.gmiresearch.com/report/podcast-market-share-analysis-industry-statistics-research/
The factors driving the growth of Podcast Market includes rise in the number OTT platforms around the world, growing popularity of audio-on-demand platforms, modernization of transcription technology and increasing internet penetration rates. According to the report published by Bloomberg, the Global Over-the-Top Streaming Market was calculated around USD 120.6 billion in 2021 and is expected to reach USD 261.8 billion by the end of 2028, expanding at a CAGR of 11.9%, over the forecast period (2022-2028), which will boost the Global Podcast Market in the approaching years. Moreover, introduction of advanced technologies such as Artificial Intelligence (AI), Blockchain and Internet of Things (IoT), proliferation of smartphones and strategic mergers and acquisition between industry leaders, are some of the additional factors supplementing the market growth. In addition, increasing investments by leading players on research and development, rising disposable incomes and rapid urbanization, are further contributing towards the market growth.
However, the growth of Podcast Market is hindered due to issue related to limited storage space and low internet connectivity.
The leading players operating in the market are Entercom Communications Corp., SOUNDCLOUD LIMITED, Spotify AB, AMAZON.COM, INC., Apple Inc., IHeartMedia Inc., Megaphone LLC, Pandora Media, LLC, Stitcher, and TuneIn, Inc., among others.
Based on Type, the Interview segment is expected to capture the largest market share during the forecast period
Podcast stimulates viewpoints, facilitates discussion, and enhances audience engagement, are some of the features pushing the segment's growth.
Based on Genre, the News and Politics segment is projected to lead the market over the forecast period
Increasing popularity of news and politics podcast in in solo news bulletins, panel debates, and one-on-one conversations, are propelling the segment's growth.
Based on Region, the North American region is anticipated to hold the highest market share during the forecast period
Growing adoption of advanced technologies, increasingly popularity of news and politics podcast, mature audience base, rise in the subscription of OTT platforms, increasing population growth rates and high per capita incomes, are some of the important factors augmenting the market growth in North America.
Key Development
In 2020, Apple Inc., officially introduced original podcast lower interview series "The Zane", which will expand Apple's product portfolio.
Market Segmentation
Segmentation by Type
Interview
Panels
Solo
Repurposed Content
Conversational
Segmentation by Genre
News and Politics
Society and Culture
Comedy
Sports
Others
Segmentation by Region
Asia Pacific
China
Japan
India
Rest of APAC
North America
United States of America
Canada
Europe
United Kingdom
Germany
France
Spain
Rest of Europe
RoW
Brazil
South Africa
Saudi Arabia
UAE
About GMI Research
GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.
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