About Audiobooks
Audiobooks have been used for second language learners, learning disabled students and struggling readers and non-readers. The Audiobooks market comprises one of the major segments of small kids category globally and offers huge potential for growth. As the population is growing, audiobooks are improved the reading and speaking accuracy and fluency of the customers. There has been a significant rise in the number of kindergartens to year 12 population using audiobooks with figure stood up to 27% of auditory learners in global alone in 2018. So, the future for audiobooks looks promising. Moreover, a growing trend in the audiobooks market has been witnessed with respect to the demand for multi-modal learning and reading accuracy expected to fuel the market growth during the forecasted period.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
In Audiobooks market, it has been observed that most of the manufacturing companies are providing high quality smart speakers and screen with latest assistant enabled devices such as Android, IoS and others. It involves in critical listening skills, analysis and judgment. They rely on strategies such as mergers & acquisition, product development, geographical expansion, technological innovation and sourcing strategies to enhance their market share. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Audiobooks market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Amazon (United States), Google (United States), Kobo (United States), LibriVox (United States), Downpour (United States), Scribd (United States), OverDrive (United States) and Barnes Noble Booksellers Inc (United States) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Audiobooks market by Type (Adults and Kids), Application (School, Personal and Book Club) and Region.
On the basis of geography, the market of Audiobooks has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2022. Europe, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement.
Influencing Trend:
Increasing Demand at Asia-Pacific Regions
Market Growth Drivers:
Increasing Demand for Kindergarten Schools. and Upsurge Demand for People with Visual Impairments, Dyslexia and Hyperlexia
Challenges:
High Cost Associated for membership and Subscription. and Audiobooks are Less Engaging
Restraints:
Lack of Awareness Among Customers and Audiobooks Cognitively Reduce Reading Competence
Opportunities:
Growing Number of Educational Organization and Increasing Demand for Improving Time Management and Multitasking
Market Leaders and their expansionary development strategies
In July 2018, Investment firm KKR acquired Audiobook publisher RB Media. This acquisition is beneficial for the expansion of reading & learning procedures and improving the literacy & accuracy of the learning.
In Jan 2018, Google launched an audiobook with no monthly subscription fee. This innovative product offers on Android, iOS, the web and with Google Assistant-enabled devices like Google Home smart speakers in 45 countries.
Key Target Audience
Audiobooks Provider, End-Use Market Participants of Different Segments of Audiobooks, Government and Research Organizations, R&D Institutions and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.