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Podcasting Market: By Genre (News & Politics, Society & Culture, Comedy, Sports, Others), By Format (Interviews, Panels, Solo, Repurposed Content, Conversational), And Region - Global Analysis of Market Size, Share & Trends For 2019-2021 And Forecasts To 2031
Podcasting Market to surpass USD 224.7 billion by 2031 from USD 14.2 billion in 2021 at a CAGR of 4.2% throughout the forecast period 2021-31.
Podcast is a digitally distributed program that can be installed through the Internet. An episodic sequence of digital audio or video files, for instance, a user can download to any personal device and listen to in free time. The podcasting platforms and streaming apps make it simpler to maintain a record of one’s own consumption list in several audio sources and all the playback devices. Individuals using this can also ensure the use of podcast search engines to search and distribute podcast episodes. One or several recurrent hosts participate in a debate about a particular topic or current event in a podcast series.
Global Podcasting Market to surpass USD 224.7 billion by 2031 from USD 14.2 billion in 2021 at a CAGR of 31.8% in the coming years, i.e., 2021-2031. Artificial Intelligence (AI), the Internet of Things (IoT), and blockchain technologies have all had a significant impact on the market's growth. Furthermore, the use of sophisticated technologies in content, such as Autonomous Sensory Meridian Response (ASMR), modernization of transcription technology, and paid live podcast events, is expected to propel the podcast industry forward.
On the basis of Genre, the global Podcasting Market is fragmented into News & Politics, Society & Culture, Comedy, Sports, and Others. In 2020, the news and politics area brought in the most money. This is due to the large number of individuals who listen to this genre on a daily basis. The news and politics genre is popular in a variety of formats, including one-on-one interviews, panel debates, and solo news updates.
Global Podcasting Market is classified on the basis of Format into Interviews, Panels, Solo, Repurposed Content, and Conversational. In 2020, the interview format accounted for a revenue share of the podcasting market, and it is predicted to continue to dominate over the forecast period. This can be ascribed to the interview podcasts' individuality and creativity. Each episode's guest or invitee brings fresh content, new ideas, and unique experiences that are both interesting and exciting to the audience.
The Increasing Popularity of Audio-On-Demand Platforms
The major factor driving industry growth is the rising popularity of the audio-on-demand platforms. Other elements that contribute to market growth include low entry hurdles for creators and easy accessibility for users, who can listen to podcasts while cleaning, walking, gardening, traveling, or exercising. Advertisers may hyper-contextualize their material with streaming media intelligence solutions like Spotify AB's Spotify Ad Studio, guaranteeing that they target the appropriate individuals with the right content at the right time. This ultimately drives the Podcasting market.
Growing Penetration of the Internet and Smartphones
The increased acceptance of e-learning solutions, as well as the growing dependence on smartphones, are among the important factors positively driving the global market. Furthermore, podcasting is increasingly being used to target a bigger audience and develop a brand image in the business-to-business (B2B) and business-to-commerce (B2C) segments.
Low internet Connectivity and Restricted Mobile Storage
Over the projection period, major hurdles such as restricted mobile phone storage and poor internet access are likely to stymie market expansion.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Global Podcasting Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. North America had the highest revenue share in 2020 and is predicted to keep its lead throughout the forecast period. This dominance can be due to the region's rapid adoption of new technology and its mature audience base. The podcast advertising industry in the United States is changing, with publishers focused on improving their ad options and brands adopting the audio-on-demand podcast model.
The COVID-19 pandemic has opened up new options for podcasting, with several creators producing audio only for the goal of informing the worldwide population about the coronavirus's long-term impacts. National public health organizations and private healthcare groups have also released podcasts to raise public awareness about the virus's prevention.
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Report Attribute
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Details
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Market size value in 2021 |
USD 14.2 billion |
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Revenue forecast in 2031 |
USD 224.7 billion |
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Growth Rate |
CAGR of 31.8% from 2021 to 2031 |
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Base year for estimation |
2020 |
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Quantitative units |
Revenue in USD million and CAGR from 2021 to 2031 |
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Report coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
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Segments covered |
Genre, Format, and Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
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Key companies profiled
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Amazon.com, Inc., Apple, Inc., iHeartMedia Inc., Megaphone LLC, Pandora Media, LLC, Audacy, Inc., Soundcloud Limited, Spotify AB, Stitcher, TuneIn, Inc., and Other Prominent Players. |
Podcasting Market size was estimated at USD 14.2 billion in 2021 and is expected to reach USD 224.7 billion in 2031.
Podcasting is the procedure of producing and distributing audio files to subscribers' personal computers with the help of RSS feeds. These files can later be uploaded to the streaming services and heard on digital music, cellphones, and multimedia players, like an iPod.
The News and Politics segment accounted for the largest Podcasting Market share.
Key players in the Podcasting Market include Amazon.com, Inc., Apple, Inc., iHeartMedia Inc., Megaphone LLC, Pandora Media, LLC, Audacy, Inc., Soundcloud Limited, Spotify AB, Stitcher, TuneIn Inc., and Other Prominent Players.
The industry's growth is being propelled by expanding internet penetration and increased reliance on cellphones.
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