According to the latest report by IMARC Group, titled "Podcasting Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026," the global podcasting market is currently experiencing robust growth. Podcasting refers to a service that allows internet users to access spoken word audio files through subscription-based or free portals. These services also enable the users to download the same on their personal devices. They consist of an episodic series of audios covering diverse genres that can be popularly accessed by the masses during multitasking or while in transit. Several podcasts also provide flexible delivery of audio learning resources that can be helpful for educational purposes. Some of the most popular podcasting platforms include Apple Podcasts, Stitcher, Google Podcasts, Spotify, and TuneIn Radio.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Podcasting Market Trends:
The global market is primarily driven by improving network infrastructure across the globe. With the advent of high-speed internet connectivity and the increasing penetration of affordable smartphones, individuals are now engaging in innovative media content for entertainment and learning solutions. This, coupled with the easy accessibility to free and cheap podcasting services on the global levels, is expected to provide an impetus to the market growth. Apart from this, podcasting services are widely employed in the business-to-business (B2B) and business-to-commerce (B2C) segments in an attempt to reach a wider audience for building brand image and reputation. These services are also utilized by several small and medium-sized enterprises (SMEs) as they offer a high return on investment (ROI). Some of the other factors contributing to the market include rapid urbanization, the emergence of 5G and the growing preference for podcasts offering news and politics content. On account of the aforementioned factors, the market is expected to grow at a CAGR of around 25% during 2021-2026.
- On the basis of the genre, the market has been divided into news and politics, society and culture, comedy, sports, and others.
- Based on the format, the market has been classified into interviews, panels, solo, repurposed content, conversational, and others.
- On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include Amazon.com Inc. (Amazon.com Inc), Apple Inc., Entercom Communications Corp., iHeartMedia Inc., Liberated Syndication Inc., Pandora Media LLC (Sirius XM Holdings Inc.), Podbean Tech LLC, SoundCloud Ltd., Spotify AB and TuneIn Inc.
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