"Smart Strategies, Giving Speed to your Growth Trajectory"

Audiobooks Market Size, Share & Industry Analysis, By Device Type (Smartphones, Tablets/ Laptops, Others), By Enterprise Size (Large Enterprises, Small & Medium Enterprises (SMEs))And Regional Forecast, 2024-2032

Region :Global | Report ID: FBI104739 | Status : Ongoing

 

KEY MARKET INSIGHTS

Audiobooks are transcriptions of a physical book/ other works converted to audio files in order to read it aloud. Audiobooks are becoming one of the calmest ways to nurture a reading practice. Audiobooks have enabled us to literally listen to books anywhere, whether on the commute, vacation or even while in the shower. Technological improvements in the production of audiobooks have engaged multiple activities such as e-mail delivery of documents, digital recording, and usage of tablet computers instead of physical files. The increasing expansion of home-based studios has enabled narrators to shorten the time taken to produce audiobooks along with reducing operational costs.


Currently, the audiobooks trend is towards the younger age group with an increasing user base. This presents an important positive industry development in order to have sustainable growth of the industry in the coming years. This young mob is expected to encourage their families, and probably transform a non-reader into an audiobook listener. Young group of participants might also have inspiration from their peers, thereby contributing to a wider group of potential consumers. This is also expected to change production speed, genre as younger customers might have different listening requirements. Furthermore, another age group of consumers may have different genre requirements, thereby creating multiple opportunities for the companies to tap the untapped market. Thus, listening and buying will differ by age demographic, thereby expanding the sales volume of the range of audiobooks.

Up Arrow

Key Market Driver -

• Increasing Acceptance from Different Demographic Age Groups

Down Arrow

Key Market Restraint -

• Cannibalization of Customers, Owed to Already Profitable E-books Business


Key Players Covered:


Key players in the market have a prevailing presence in the e-books market, owing to the goodwill and brand name. Moreover, these players are expected to have substantial growth in their business owing to the robust marketing strategies and providing multiple genres of audiobooks offerings. Also, these brands have a renowned presence in the global market and have the majority of the shares.

Some of the key competitors in the Audiobooks market include Amazon, Storytel AB, Google, Scribd, OverDrive, Inc., LMBPN Publishing, LLC, hoopla, SAG-AFTRA, INGRAM BOOK GROUP LLC., Kobo, LibriVox & Downpour.

Regional Analysis


North America is expected to hold the largest market share along with the highest growth rate in the coming years. This is owed to the continuous increase in the investments done by the companies in the region to increase the market presence. Moreover, this region is the technological and R&D hub for the majority of the key players to sell create products related to developing and untapped markets.

Similarly, Asia Pacific and Europe are expected to be the prominent regions for the growth of the audiobooks market. This is owed to the presence of capital-intensive companies, along with the high population in the region. The Middle East & Africa and South America, on the other hand, has shown steady growth with minimal changes in the market structure. Also, the companies in the market are shifting their focus to developing economies, thus this region is expected to exhibit minor volatility in the coming years.

The ongoing COVID-19 pandemic is expected to impact the market heavily. This is because of the consequence of the lockdown implemented globally. The majority of universities, classrooms, academic institutions, along with commercial entities have closed down, thereby significantly hampering the growth of the audiobooks market.

To gain extensive insights into the market, Request for Customization


Segmentation






















 ATTRIBUTE

  DETAILS

By Device Type



  • Smartphones

  • Tablets/ Laptops

  • Others (Personal Digital Assistance, etc.)



By Enterprise Size



  • Large Enterprises

  • Small & Medium Enterprises (SMEs)



By Region



  • North America (United States, Canada & Mexico)

  • South America (Brazil, Argentina & Rest of South America)

  • Europe (United Kingdom, Germany, France, Italy, Spain, Russia, Benelux, Nordics & Rest of Europe)

  • Middle East & Africa (Turkey, Israel, GCC, North Africa, South Africa, & Rest of Middle East & Africa)

  • Asia Pacific (China, India, Japan, South Korea, ASEAN, Oceania, & Rest of Asia Pacific)



Key Industry Developments



  • July 2020: Storytel AB acquired a majority of 80% stake at Earselect AB. Earselect AB is Nordic based production company that specializes in cloud-based platforms for producing audiobooks remotely.

  • December 2019: OverDrive Inc., announced its changing leadership, as Rakuten handed over its share to KKR. KKR is a US-based investment firm.





  • Ongoing
  • 2023
  • 2019-2022
  • Pre Book
Multi-report Purchase Plan
    A Customized Plan Will be Created Based on the number of reports you wish to purchase
Information & Technology Clients
Dell
huawei
Fujitsu
Yahoo
Softbank
Client Testimonials

“We are quite happy with the methodology you outlined. We really appreciate the time your team has spent on this project, and the efforts of your team to answer our questions.”

- One of the largest & renowned medical research centers based in the U.S. on a report on the U.S. NIPT Market.

“Thanks a million. The report looks great!”

- Feedback from a consultant on a report on the U.S. Beef Market.

“Thanks for the excellent report and the insights regarding the lactose market.”

- Brazil based company specializing in production of protein ingredients.

“I liked the report; would it be possible to send me the PPT version as I want to use a few slides in an internal presentation that I am preparing.”

- Global Digital Services Agency on a report on the Global Luxury Goods Market.

“This report is really well done and we really appreciate it! Again, I may have questions as we dig in deeper. Thanks again for some really good work.”

- U.S.-based biotechnology company focussing on treatment of chronic pain.

“Kudos to your team. Thank you very much for your support and agility to answer our questions.”

- Europe-based provider of solutions to automate data centre operations.

“We appreciate you and your team taking out time to share the report and data file with us, and we are grateful for the flexibility provided to modify the document as per request. This does help us in our business decision making. We would be pleased to work with you again, and hope to continue our business relationship long into the future.”

- India-based manufacturer of industrial and specialty intermediates with a strong global presence.

“I want to first congratulate you on the great work done on the Medical Platforms project. Thank you so much for all your efforts.”

- One of the largest cosmetics company in the world.

“Thank you very much. I really appreciate the work your team has done. I feel very comfortable recommending your services to some of the other startups that I’m working with, and will likely establish a good long partnership with you.”

- U.S. based startup operating in the cultivated meat market.

“We received the below report on the U.S. market from you. We were very satisfied with the report.”

- Global hearing aids manufacturer.

“I just finished my first pass-through of the report. Great work! Thank you!”

- U.S. based solar racking solutions provider.

“Thanks again for the great work on our last partnership. We are ramping up a new project to understand the imaging and imaging service and distribution market in the U.S.”

- World’s leading advisory firm.

“We feel positive about the results. Based on the presented results, we will do strategic review of this new information and might commission a detailed study on some of the modules included in the report after end of the year. Overall we are very satisfied and please pass on the praise to the team. Thank you for the co-operation!”

- Germany based machine construction company.

“Thank you very much for the very good report. I have another requirement on cutting tools, paper crafts and decorative items.”

- Japanese manufacturing company of stationery products.

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

- One of the Leading Food Companies in Germany

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

- Intuitive Surgical

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

- Major Food Company in Japan

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

- Ziering Medical

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

- Major Manufacturer of Precision Machine Parts in India

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

- Hewlett-Packard

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

- Global Management Consulting Firm

“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”

- UK-based Start-up in the Medical Devices Sector

“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”

- One of the Largest Companies in the Defence Industry
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . Privacy.
X