Global Podcasting Market to Grow at 26% During 2024-2032, Impelled by the Improving Network Infrastructure Across the Globe

April 18, 2022 | Technology & Media

According to the latest report by IMARC Group, titled “Podcasting Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032," the global podcasting market is anticipated to grow at a CAGR of 26% During 2024-2032. Podcasting refers to the preparation of audio files that a user can either stream online on a subscription basis or download directly to personal devices for listening. It is generally hosted by individuals who lead a conversation, report news, and convey motivational stories, instructional information and auditory case studies. Podcasts usually focus on entertaining the audience and providing updates and breakdowns of events related to comedy, news and politics, sports, society and culture. They are convenient, easy to get started, highly engaging, and aid in building a personal connection, improving conversation and acts as a popular alternative to videos. As a result, podcasts are widely adopted by several brands to enhance search engine optimization (SEO) opportunities and increase website traffic.

Global Podcasting Market Trends:

The increasing penetration of the Internet, inflating sales of smartphones, and the rising adoption of e-learning solutions are some of the key factors driving the global podcasting market growth. In line with this, podcasts offer flexible delivery of audio learning resources, which are widely used in teaching and educational learning worldwide. Apart from this, various advancements in technology, such as the integration of the Internet of Things (IoT) and artificial intelligence (AI) that assists in hyper-contextualizing information, while ensuring that the relevant content reaches the target audience, are providing an impetus to the market growth. Additionally, the increasing usage of the service amongst consumers as it offers easy accessibility to the podcast during  walking, traveling, exercising, cleaning, gardening, and other activities, is positively impacting the market growth. Other factors, including the growing popularity of smart speakers, rapid digitization, and the increasing product utilization in business-to-business (B2B), business-to-commerce (B2C), and  banking, financial services, and insurance (BFSI) sectors are anticipated to drive the market further toward growth.

Market Summary:

  • On the basis of the genre, the market has been divided into news and politics, society and culture, comedy, sports, and others. Amongst these, news and politics dominate the market.
  • Based on the format, the market has been classified into interviews, panels, solo, repurposed content, conversational, and others. Presently, interviews hold the largest market share.
  • Based on region, the market is dominated by North America (the United States and Canada). Other major regions include Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia and Others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and Others) Latin America (Brazil, Mexico and Others), Middle East and Africa.
  • The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of these players include 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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Global Podcasting Market to Grow at 26% During 2024-2032, Impelled by the Improving Network Infrastructure Across the Globe
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