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The global audiobooks market is expected to grow at a CAGR of 24.0% during the period 2024-2032. Asia, North America and Europe are expected to be key markets.
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There has been a significant growth in the global market for audiobooks over the last few years. The growth has been a result of attractive offerings from audiobook service providers, expansion of range of listening alternatives (smartphones, tablets, desktops, smart speakers, etc.), and increase in the number of people taking to audiobooks for various reasons. Audiobooks are especially useful for the visually impaired, and for those who like to read but do not have time. Traditionally, audiobooks have been used by teachers and schools to teach second language learners and students with learning disabilities. Audiobooks have provided an effective means to access and enjoy literature. The global audiobooks market is expected to grow during the forecast period.
An audiobook is a voice recording of the text of a book that may be listened to. you listen to rather than read. An audiobook may be a complete reading of the text, or an abridged version. Audiobooks are generally bought and downloaded just like digital video and music; while these may be bought from online bookstores, there are public domain platforms from which audiobooks may be downloaded for free. Some popular apps and websites offering free and paid access to audiobooks include Apple Books, Audible.com, AllYouCanBooks.com, Project Gutenberg, Downpour, Nook Audiobooks, and OverDrive, among others.
Audiobooks are a strong medium for dissemination of information. Indeed, listening can draw more information (and nuances therein) from the speaker’s inflections. For example, sarcasm is more easily identified and communicated through audio than text in print.
Audiobooks offer the convenience of listening even while doing other tasks, for example, walking, exercising, travelling or performing household chores. Further, audiobooks may be used when one does not feel like reading or in the dark, when it is not practically possible to read a book. Many people like to listen to audiobooks before going to sleep; they simply turn on an audiobook and listen to the audio while drifting into sleep. Such convenience offered by audiobooks is expected to help the growth of the global audiobooks market.
Audiobook listenership has been growing. Children’s books form a significant part of audiobook sales. With an increase in children’s smart speaker consumption, popularity of audiobooks among children has also been reported to increase significantly. Further it has been strongly suggested that listening to audiobooks may have a significant positive impact on reading skills and enjoyment; audiobooks may help in the development of reading skills, decoding, and comprehension, and also lead to positive outcomes like wellbeing and emotional intelligence. Youth are also being reported to exhibit growing engagement with audiobooks. It is noteworthy that audiobook consumption is higher among individuals falling in higher income groups. In light of these factors, it is expected that audiobook listenership would continue during the forecast period, boosting market growth.
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By genre, the market is segmented into:
By preferred device, the market is classified into:
By distribution channel, the market is classified into:
By target audience, the market is segmented into:
By region, the market is divided into:
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The report presents a detailed analysis of the following key players in the market, looking into their capacity, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Genre |
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Breakup by Preferred Device |
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Breakup by Distribution Channel |
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Breakup by Target Audience |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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The global audiobooks market is projected to grow at a CAGR of 24.0% between 2024 and 2032.
The major drivers of the market include an increase in the number of people taking to audiobooks for various reasons, easy accessibility of these paperback copies, internet proliferation, and the prevalence of smart home technology.
Attractive offerings from audiobook service providers and expansion of the range of listening alternatives, such as smartphones, smart speakers are the key industry trends propelling the market's growth.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The various genres are fiction and non-fiction.
The preferred devices are smartphones, laptops and tablets, and personal digital assistants, among others.
The several distribution channels are one-time download and subscription-based.
The target audiences are kids and adults.
The major players in the industry are Amazon Inc., Apple Inc., Audible, Inc., Barnes and Noble Booksellers, Inc., Downpour, Google, and Playster, among others.
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