Audiobooks Market size was valued at USD 4,219.0 million in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 26.4% from 2022 to 2030.
Audiobooks’ adaptability and variety enable people to listen to the information whenever they choose. Regardless of location or time, audiobooks make content easily available on electronic devices. The accessibility of the internet and different IoT devices offers customers simpler options to listen to audiobooks. A transcription of a book or other piece of writing being read aloud is an audiobook. The use of tablets in place of hard copy texts and digital recording and document distribution are all results of technological advancements in production. The number of home recording studios for narrators has increased, which has also sped up production of audiobooks and decreased expenses. The market for audiobooks has, however, been directly hampered by the impact of the coronavirus. The majority of classrooms, universities, academic institutions, and commercial entities have closed as a result of the coronavirus lockdown, which has negatively impacted the market for audiobooks.
The user base for audiobooks is currently shifting toward a younger and growing demographic. This is a crucially encouraging step for the industry’s long-term expansion. Younger consumers are anticipated to have an impact on their expanding families, likely converting non-listeners into listeners. Younger participants may also have an impact on their peers, resulting in a larger group of peers and a greater value placed by young individuals on peer opinions. Younger clients could have distinct listening needs, too. People are more inclined to listen to books that serve as a guide or an entry point when they are first starting their careers or their lives than they are to do so when they are more experienced.
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Major Players in Audiobooks market are:
iTunes
SoundCloud
Scribd
YouTube
Blinkist
Downpour
TuneIn
Libro fm
Qingting FM
Libby
Spotify
Ximalaya FM
KOBO
hoopla
Google Play
Nook Audiobooks
Librivox
Audible
BookBeat
Most important types of Audiobooks products covered in this report are:
Comprehensive Audiobook
Sci-fi Audiobook
Romantic Audiobook
Thriller Audiobook
Kid Audiobook
Detective Audiobook
Narrative Audiobook
Others
Most widely used downstream fields of Audiobooks market covered in this report are:
Personal User
Enterprise User
Educational User
Others
Major Regions or countries covered in this report:
North America
Europe
China
Japan
Middle East and Africa
South America
India
South Korea
Southeast Asia
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