Sep 14, 2023

News provided by Share this article Share toX NEW YORK, Sept. 14, 2023 /PRNewswire/ -- The  audiobooks market  is estimated to grow by USD 10.91 billion from 2022 to 2027, growing at a CAGR of 25.32%. The audiobook market is fragmented owing to the presence of many global and regional companies. A few prominent companies that offer audiobooks market are Alphabet Inc., Amazon.com Inc., Apple Inc., Barnes and Noble Booksellers Inc., Bonnier, BookLender.com, DOWNPOUR, KUKU FM, Libro.fm SPC., Midwest Tape LLC, Open Culture LLC., Pubmark Inc., RBmedia, Scribd Inc., Spotify Technology SA, Storynory Ltd., Storytel AB, W.F. The report provides a full list of key companies, their strategies, and the latest developments. Download FREE Sample before buying Company Offering: Alphabet Inc. - The company offers audiobooks under the subsidiary of Google LCC. Barnes and Noble Booksellers Inc. - The company offers audiobooks for Historical fiction, horror books, fiction audiobooks, and Sci-Fi and fantasy audiobooks. For details on companies and their offerings –  Buy the report! By Geography, the market is classified as North America, Europe, APAC, South America, and Middle East and Africa. North America will have the largest share of the market. North America is estimated to contribute 35% to the growth of the global market during the forecast period. The US and Canada contribute largely to the growth of the audiobook market in the region. Additionally, some institutions are adopting bring-your-own-device (BYOD) policies in the US, allowing students to gain digital skills while reducing the amount of money institutions spend. Furthermore, the region is home to major companies such as Apple, Downpour, Barnes and Noble Booksellers, Amazon, Alphabet, Rbmedia, and Scribd. Regionally based e-book companies, such as Amazon, are working to provide e-book readers with the ability to play audiobooks. For example, the US version of the Kindle Paperwhite may also support audiobooks. Hence, these factors are expected to drive market growth in the region during the forecast period. Download a FREE sample report  to get more insights on the market share of various regions and the contribution of the segments. Impactful driver- Proliferation of smart devices and applications Key Trend - Increasing use of voice assistants and smart speakers to listen to audiobooks Major Challenges -  Increasing threat from open-source content  Market Segmentation By Channel, the market is classified into one-time download and subscription-based. Technavio Research experts have provided more insights on the market share of segments - View FREE Sample Report Related Reports The  music synthesizers market  size is estimated to grow at a CAGR of 7.85% between 2022 and 2027. The market size is forecast to increase by USD 265.44 million. This music synthesizers market report extensively covers market segmentation by type (digital synthesizers and analog synthesizers), distribution channel (offline and online), and geography (North America, APAC, Europe, Middle East and Africa, and South America). The growing popularity of hybrid synthesizers is notably driving the market growth. The  music and video market  size is estimated to grow at a CAGR of 19.7% between 2022 and 2027. The market size is forecast to increase by USD 413.28 billion. This music and video market report extensively covers market segmentation by platform (digital and physical), type (video and music), and geography (North America, Europe, APAC, South America, and Middle East and Africa). Rising Internet and smartphone penetration is the key factor driving the growth of the global music and video market. TOC: About Us Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios. Contact US: