Subject: MRR
Europe's Podcast Market Size to Grow by USD 1.13 billion from 2023 to 2027, Rising penetration of smartphones to boost market growth, Technavio
NEW YORK , March 26, 2024 /PRNewswire/ -- The Europe podcast market size is estimated to grow by USD 1.127 billion at a CAGR of 27.5% between 2022 and 2027. The market is driven by increased smartphone usage and internet accessibility. High-end smartphones and easy internet access have made them indispensable, providing on-the-go access to video and music content. Growing mobile internet subscriptions and improved wireless standards enhance connectivity, particularly in European markets like Germany, the UK, France, and the Netherlands. Podcast providers are adapting by offering mobile apps, facilitating easy access and downloads, further boosting market growth.
Discover some insights on market size historic period (2017 to 2021) and Forecast (2023 to 2027) before buying the full report
Report Coverage | Details |
Page number | 160 |
Base year | 2022 |
Historic period | 2017-2021 |
Forecast period | 2023-2027 |
Growth momentum & CAGR | Accelerate at a CAGR of 27.5% |
Market growth 2023-2027 | USD 1127.66 million |
Market structure | Fragmented |
YoY growth 2022-2023(%) | 24.23 |
Vendor Analysis
Vendor Landscape - The global podcast market in Europe is fragmented, with the presence of several global as well as regional vendors. A few prominent vendors that offer podcast in Europe in the market are Alphabet Inc., Amazon.com Inc., Apple Inc., Audioboom Group plc, Block Inc., British Broadcasting Corp., CBS Interactive Inc., Deezer SA, Funkwhale, Guardian News and Media Ltd., hearthis.at, iHeartMedia Inc., Jamendo SA, Jango, Maple Media LLC, Mixcloud Ltd., Sirius XM Holdings Inc., Sorted Ventures Ltd., SoundCloud Global Ltd. and Co. KG, and Spotify Technology SA and others.
What's New? -
- Special coverage on the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession
- Global competitiveness and key competitor positions
- Market presence across multiple geographical footprints - Strong
Vendor Offerings -
- Amazon.com Inc: The company offers music podcasts. It is also involved in retail sales of consumer products.
For details on the vendor and its offerings
Segment Overview
Technavio has segmented the market based on type, Type (Interviews, Conversational, Solo, Panels, and Repurposed content), Genre (News and politics, Society and culture, Comedy, Sports, and Others), and Geography (Europe).
- The interviews segment is poised for significant growth due to increased internet accessibility, allowing users to listen while driving or on the move. Podcast interviews offer versatility, enabling users to listen without needing to view their screens. This segment, valued at USD 51.76 million in 2017, benefits from accessibility features, aiding blind individuals and allowing listeners to adjust playback speed. Leading European countries like the UK, Germany, and France drive consumption and production, with many podcasters adopting a multilingual approach to cater to diverse audiences.
For insights on global, regional, and country-level parameters with growth opportunities from 2017 to 2027
Market Dynamics
The rising penetration of smartphones and easy access to the internet is notably driving the market growth:
The increasing smartphone penetration and internet accessibility drive market growth. High-end smartphones and easy internet access provide users with on-the-go entertainment. With rising mobile internet subscriptions, providers are expanding distribution on mobile platforms. This trend, coupled with affordable smartphones, boosts demand, particularly in European markets. Additionally, the adoption of wireless standards like 3G, 4G, and 5G enhances internet bandwidth, fostering acceptance of online podcast streaming services. Service providers now offer mobile applications for easier access, contributing to market expansion.
- Smart speakers are driving podcast market growth. Innovations from brands like Samsung and SONOS offer advanced streaming capabilities, enabling multi-room listening and voice control via mobile apps. Manufacturers are expanding product lines with new variants, enhancing accessibility and convenience for users.
- The intense competition among podcast service providers and inconsistent user preferences is challenging the market growth.
Driver, Trend & Challenges are the factor of market dynamics which states about consequences & sustainability of the businesses, find some insights from a
What are the key data covered in this Podcast Market In Europe report?
- CAGR of the market during the forecast period
- Detailed information on factors that will drive the growth of the Podcast Market In Europe between 2023 and 2027
- Precise estimation of the size of the Podcast Market In Europe size and its contribution to the market in focus on the parent market
- Accurate predictions about upcoming trends and changes in consumer behavior
- Growth of the Podcast Market In Europe industry across Europe
- A thorough analysis of the market's competitive landscape and detailed information about vendors
- Comprehensive analysis of factors that will challenge the growth of Podcast Market In Europe vendors
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Analyst Review:
The European Podcast Market is experiencing rapid growth, driven by various factors such as increasing consumer interest, advertising revenue, and the popularity of podcasting as an alternative to traditional radio. Podcast listenership continues to rise, with a diverse range of players entering the market and contributing to its segmentation and impact.
European podcasters and hosts are capitalizing on the continent's rich content diversity, catering to listeners' preferences across different genres and themes. The availability of regional content, along with international markets, is fueling the market's expansion, with over 1,000,000 podcasts accessible and 30 million audio episodes available.
Key players in the European podcast industry include iHeartMusic, Tritron Digital, and various OTT platforms, which are leveraging regional content and vocabulary services to cater to specific audiences. Additionally, advancements in technology such as Machine Learning (ML) and Artificial Intelligence (AI) are enhancing content discovery and listener engagement.
The market's high competitiveness, coupled with factors like increasing disposable income, mobile penetration, and cheaper data, are driving its growth trajectory. This growth is further supported by the podcast industry's revenue contributors, including the news and politics segment, which remains a significant revenue driver. Overall, the European podcast market presents ample opportunities for players to capitalize on the continent's diverse listener base and evolving content preferences.
Market Overview:
The Europe Podcast Market is experiencing rapid growth and evolution, driven by various factors such as the emergence of diverse podcast platforms, hosting services, and compelling content created by a multitude of podcast creators. With a growing base of listeners across the region, podcast genres span from entertainment and education to news, technology, and beyond. Podcast advertising and monetization strategies are becoming increasingly prevalent, providing revenue opportunities for both creators and platforms. Market trends and analysis indicate a robust growth trajectory, with market research and forecasting highlighting promising prospects for the future. Comprehensive market reports and forecasts offer insights into the evolving landscape, while analytics tools enable stakeholders to track performance and optimize strategies. As the podcast market continues to mature, innovation in distribution methods, content creation, and monetization models is expected to drive further growth and trends across Europe.
Related Reports:
The global podcast market size is estimated to grow by USD 15.7 billion between 2023 and 2028, accelerating at a CAGR of 29.08%.
The music market size is forecast to increase by USD 70.02 Billion at a CAGR of 12.57% between 2023 and 2028.
About US
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides 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
Technavio Research
Jesse Maida
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UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/
SOURCE Technavio
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