Podcasting Market Trends, Market Demands, Top Manufactures, Industry Growth Analysis and Forecast to 2030

Global Podcasting Market Size is estimated to reach USD 153.1 Billion by 2030, with a CAGR of 31.2% over the projected years of 2022-2030, as per the Acumen Research and Consulting

Podcasting Market Overview

A podcast is a digital audio file that the audience can download or listen to over the Internet. Podcasting is the streaming age's equivalent of radio. Podcasts are typically focused on a single theme or topic. Often, the most successful podcasts are those that specialize and delve deeply into a single topic. The rising proliferation of smartphones and the increasing emergence of AI, 5G, and IoT are expected to generate profitable opportunities during the forecasted timeframe from 2022 to 2030.

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Podcasting Market Dynamics

Growing internet penetration especially in developing countries is a primary factor that is driving the podcasting market share in the forthcoming years. The rising audio-listening population is another factor that is fueling the podcasting industry's revenue. The increasing trend of e-learning solutions is also an important aspect that has driven the size of the podcasting industry.

In addition to that, the impact of COVID-19 on the podcasting industry was positive as people were able to record their podcasts with few audio devices present at their homes. Spotify and Apple are some of the podcasting industry leaders that are generating massive revenue from their podcast business. Listeners not only go for free content but many also go for a paid subscription to listen to their favorite podcasters. According to Spotify AB statistics published in 2020, the growth of sports podcasts tripled in the previous 18 months, reaching up to 1,000 podcasts on the channel with 8,00,000 hours of sports content transmitted daily on Spotify AB.

However, a lack of awareness in emerging nations and slow internet access among those countries has limited the industry's reach. Conversely, with the growing advancement in technology and rapid urbanization in emerging nations, podcasting will quickly pick up pace in the coming years.
Furthermore, the growing popularity of smart speakers is a podcasting market trend that will support future market growth. Aside from that, brands from other industries are extensively collaborating with key industry players to broaden their reach.

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Podcasting Market Segmentation

The global podcasting market is categorized into genre, format, and geography.

• Based on the genre, the market is categorized into news & politics, comedy, society & culture, sports, and others

• By format, the market is split into interviews, solo, conversational, panels, and repurposed content

• On the basis of region, the market is classified into North America, Latin America, Asia-Pacific, Europe, and the MEA

Podcasting Market Share

According to our podcast industry analysis, the news and politics segment is anticipated to lead the global podcasting market in 2021. This increase can be attributed to workaholics' increased demand for fast-paced news as a result of today's demanding lifestyle. Based on the formats, the solo segment is anticipated to grow substantially in the market throughout the forecast timeframe. People who are experts in specific fields or who want to share their own individual content experiences create solo content.

Podcasting Market Regional Analysis

In 2021, North America occupied a significant market share and is anticipated to do so in the coming years. The massive share in the region is credited to its rapid acceptance of new technology as well as its mature audience base. Publishers are improving their ad revenue services and adapting their platforms to the recurring audio-on-demand podcasting model.

Latin America, on the other hand, is anticipated to experience rapid growth from 2022 to 2030. The region's rapid growth can be attributed to the increasing penetration of digital devices, as well as the availability and prominence of podcast content in Spanish. During the forecast period, Asia-Pacific is anticipated to grow at a significant CAGR.

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Podcasting Market Players

Some of the top podcasting companies profiled in the report include Apple, Inc., Amazon.com, Inc., Audacy, Inc., iHeartMedia Inc., Pandora Media, LLC, Megaphone LLC, Spotify AB, Soundcloud Limited, Stitcher, and TuneIn, Inc.

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Acumen Research and Consulting (ARC) is a global provider of market intelligence and consulting services to information technology, investment, telecommunication, manufacturing, and consumer technology markets. ARC helps investment communities, IT professionals, and business executives to make fact based decisions on technology purchases and develop firm growth strategies to sustain market competition. With the team size of 100+ Analysts and collective industry experience of more than 200 years, Acumen Research and Consulting assures to deliver a combination of industry knowledge along with global and country level expertise.

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