Market Overview:
Podcasting is defined as a service in which the user can stream online videos and can also download them in any portable device includes Personal Digital Assistant (PDA) and Portable Media Player (PMP). As podcasting provides flexible delivery of audio learning resources, it is widely being adopted across educational purpose across the globe. Moreover, various brands are being added in the podcast-specific actions to their blogs and other social channels to deliver interactive content, improves and enhances search engine optimization (SEO) opportunities and increases website traffic. The easy accessibility of podcast during transit, gardening, exercising, or cleaning, walking further increases its demand over the coming years.
The podcasting market is witnessing growth owing to its ease in broadcasting a podcast anytime, anywhere without much stuff, had bolstered its growth. The rising demand of high-speed internet browsing capacity and bigger storage spaces in the latest devices has further increased the podcast popularity across the globe. Anyone can easily listen to it live or can also download it on their devices with the advanced technology anytime or anywhere.
The Global Podcasting Market was valued at US$ 9.35 Bn in 2020 is expected to reach US$ 58.9 Bn by 2027, growing with a CAGR of 29.2% during the forecast period (2021-2027).
The Global Podcasting Industry Segmentation:
By Genre
By Formats
By Region
The unique insights provided by this report also includes the following:
Based on Genre insights, the sports segment is expected to grow with the highest CAGR during the forecast years (2021-2027)
The podcasting market is categorized by genre into news and politics, society and culture, comedy, sports, and others. The sports segment in the global podcasting market is expected to grow with the highest CAGR over the forecast period. This segment is witnessing growth due to the rising number of avid sport fans across globe, moreover, the sports podcast is also gaining popularity. Sport casters are also coming up with daily topics and are providing conversational content by inviting famous personalities from the sports industry to engage the listeners.
The news and politics segment dominated the global podcasting market in the year 2020, due to the majority of users observed to be listening to these podcast genres on a daily basis. As its inception, news and politics have increased the way for hosts and producers to come with new styles for delivering to the audience with exclusive and unique content on current affairs. The genre is famous across all the formats, be it a conversation, solo news announcements, or a panel discussion over any ongoing subject.
By format segment, interview format holds the major market share in the global podcasting market
Based on the format segment, by format, the market is classified into interviews, panels, solo, repurposed content, and conversational. Among which, the interview format has dominated the market in the year 2020 with a market share of 32.5%, and is expected to witness similar growth trends during the forecast period. This podcast format is being referred to as facilitate, in which the host is consistent, and the guests are being invited in each episode. This segment is witnessing growth due to the originality and rawness of the podcasts where each guest is being invited at every episode with unique thoughts, experiences, content, and learnings that are inspiring for the listeners. Moreover, the interview format also raises various opinions and viewpoints for motivating the discussion, which further increasing listeners’ interest and engagement.
North America was dominating the global Podcasting Market in the year 2020
North America was dominating the global podcasting market in the year 2020 with a market share of 41.1% and is expected to witness similar growth trends during the forecast period. U.S. was holding the majority of the market share in the podcasting market due to its early adoption of the latest technologies and the presence of a diversified listener base of all age groups.
The Latin American podcasting market growth is owing to the rising penetration of digital devices and with the availability and popularity of podcast contents offered in the Spanish language. Asia Pacific is also expected to grow with a significant CAGR during the forecast period.
Company Profiles and Competitive Intelligence
The key players operating in the global Podcasting market includes Apple, Inc., Amazon.com, Inc., Pandora Media, Inc., iHeartmedia. Inc., Spotify AB, Sound Cloud Limited, among others. The market is competitive in nature and the podcasting players are also expanding their capabilities by investing in R&D for Podcasting. The major strategies followed by the market participants are Partnerships and Product Launches.
The report also provides in-depth analysis of Podcasting market dynamics such as drivers, restraints opportunities and challenges
Drivers
Restraints
low internet speed and low storage space issues hindered this industry's growth across some areas
The report also provides in-depth analysis of key trends in Podcasting Industry forecast
|
Sr. No. |
Trends |
Impact |
|
1 |
In the United States, the USAF and the US military are investing in Podcasting to bolster infrastructure and posture American airpower for continued dominance into the future. |
Positive |
|
2 |
Increase in Demand for Industry 4.0 and Emergence of Industry 5.0 to Drive the Podcasting Market |
Positive |
The report also provides in-depth analysis of recent news, developments and investments
Company Profiles and Competitive Intelligence
The key players operating in the market are:
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