Press Release

Amid Ukraine-Russia crisis, our analysts and industry experts are closely monitoring the markets and working hard to identify, gather and timely deliver analysis of the impact of the situation and the impact that it has on various markets. All our reports are updated with the latest impact on the market before being sent out to our customers.

Global Audiobooks Market to Grow at a CAGR of 24.0% During the Period 2022-2027, Driven by Convenience Afforded by Audiobooks

According to a new report by EMR titled, ‘Global Audiobooks Market Report and Forecast 2022-2027’, the global audiobooks market is expected to grow at a CAGR of 24.0% during the period 2022-2027, led by increasing audiobook listenership.

The global audiobooks market is expected to grow due to attractive offerings from audiobook service providers, broadened range of listening alternatives (smartphones, tablets, desktops, smart speakers, etc.), convenience afforded by audiobooks, and rising audiobook listenership. Asia, Oceania, North America and Europe are expected to be key markets.

With a rise in the number of people taking to audiobooks, several authors have started producing only audio books or audio-first books. The paid audiobooks segment has also witnessed growth. India and China have emerged as fast-growing markets. Several users have adopted audiobooks to reduce their time spent looking at computer and mobile screens. Several audiobook platforms have introduced new formats to widen their library. For example, Pocket FM launched audio fiction shows which significantly drove listenership. Storytel included eleven languages to reinforce its regional library portfolio. This has helped the platform reach out to those interested in regional literature but either are somehow unable to read.

With increase in demand for audiobooks, supply of audiobooks has also increased. In 2018, Apple introduced Apple Books, a new app providing iPhone and iPad users an easy and appealing way to discover and enjoy books and audiobooks. The Apple Books app would replace iBooks with the launch of iOS 12.

In 2020, Apple News introduced new audio features, expanding local news offerings for readers. Novel features for Apple News and Apple News+ included audio stories of select feature stories from Apple News+, and local news collections (initially in five cities and regions, intended to expand to more areas in future).

In 2022, Fresh Produce Media, signed a first look development and production deal with Audible according to which, Fresh Produce would create several scripted and documentary audio series across a wide range of Audible verticals. The genres would include arts and entertainment, music storytelling, wellness, true crime, science fiction, and others.

In 2019, Audible opened its new studios in Paris to host recordings of Audible Originals titles and Audible productions. The opening of the Audible Studio in Paris was an effort to offer French listeners distinctive audio programming.

In 2021, QuiverTree Media collaborated with Audible to offer better digital spoken-word entertainment. Audible sought to boost visibility of its subscription channel across Europe, accessing inflight audiences with QuiverTree Media. The collaboration strengthened Audible’s offer for the territory, offering passengers a unique chance to discover exclusive audiobooks and podcasts in a captive inflight environment.

In 2022, Barnes and Noble created the Nook Audiobooks app for Android and iOS. The company announced that would discontinue their audiobook app and integrate everything into the main Nook app.

In 2018, Google launched a new audiobook service - Google Play Books - to compete with Amazon-owned Audible. The platform would allow readers across 45 countries to play audiobooks purchased through the service on multiple platforms, including Google Home, Google’s popular smart speaker.

Key Findings of the Report:

  • Increasing audiobook listenership and attractive offerings from audiobook service providers are expected to drive the market. 
  • Advancements in technology and growth of audiobook platforms are likely to help market growth. 
  • Asia, North America and Europe are projected to be key markets.

Market Analysis by Genre, Preferred Device, Distribution Channel, Target Audience and Region:

  • By genre, the market is segmented into Fiction and Non-fiction.
  • By preferred device, the market is classified into Smartphones, Laptops and Tablets, Personal Digital Assistants, and Others.
  • By distribution channel, the market is classified into One-time Download and Subscription-based.
  • By target audience, the market is segmented into Kids and Adults.
  • By region, the market is divided into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.

About Us

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium-sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

Contact Us:

Expert Market Research
Website: www.expertmarketresearch.com
Email: sales@expertmarketresearch.com
US & Canada Phone no: +1-415-325-5166
UK Phone no: +44-702-402-5790

*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

Why Expert Market Research?

Right People

We are technically excellent, strategic, practical, experienced and efficient; our analysts are hand-picked based on having the right attributes to work successfully and execute projects based on your expectations.

Right Methodology

We leverage our cutting-edge technology, our access to trusted databases, and our knowledge of the current models used in the market to deliver you research solutions that are tailored to your needs and put you ahead of the curve.

Right Price

We deliver in-depth and superior quality research in prices that are reasonable, unmatchable, and shows our understanding of your resource structure. We, additionally, offer attractive discounts on our upcoming reports.

Right Support

Our team of expert analysts are at your beck and call to deliver you optimum results that are customised to meet your precise needs within the specified timeframe and help you form a better understanding of the industry.

Similar Reports



Global Audio DSP Market Report and Forecast 2022-2027



NEWSLETTER