Podcasting Market Size, Share, Future Growth Analysis & Latest Trends

The global podcasting market size is expected to reach USD 60.50 billion by 2027, expanding at an estimated CAGR of 27.5% from 2020 to 2027, according to a new report by Grand View Research, Inc. Over the recent years, podcasts have emerged as the most preferred and interminable source of entertainment with its easy accessibility on smartphones, smart speakers, and other gadgets at any given point of time during commutes or multitasking. Podcast advertising has highly contributed to the market, increasing the end-customer concentration for this industry.

From fiction content for entertainment to news updates to non-fiction genre, the market has insatiable content to intrigue the centennials and millennials for a longer run. The podcast streaming directory is now being timely upgraded with fresh content demanded by the listeners, and these popular genre trends differ for each region, age group, and gender. Furthermore, the podcasting industry is anticipated as a mainstream audio media channel over recent years with the intervention of state-of-the-art technologies in the content publishing practices.

The advent of the internet and smart devices has acted as the force multiplier to the market, with smart speakers emerging as the preferred device to listen to the audio content while simultaneously performing other tasks. We are entering into the stage of listening telemetric, wherein the industry players are emphasizing on offering smarter content and eliminating off-topic tangents to refine the Listener Experience (LX) of their audio content platforms. Furthermore, the Artificial Intelligence (AI) and Machine Learning (ML) technologies are highly being incorporated in the streaming platforms to determine the preferences of the considerable section of listeners.

Podcast is a rapidly advancing form of content marketing that comprises of spoken word digital audio files, which the user or listener can stream or download to their personal device for later listening. The equipment required for podcasting include computer or laptop, microphones, audio interface, mixer, headphones, amplifiers, mic stand, microphone cables, editing software, headphone amplifiers, and pop filters. Depending on whether the podcaster is a beginner or a professional, some other additional equipment may or may not be required. Nowadays, smartphones have become a popular medium for recording podcasts, and require a digital recorder, microphone, and SD card.

With the rapid growth of internet across the globe, and the developments in broadband cellular network technology such as 4G and the imminent introduction of 5G, there is huge scope for podcasters to put their content out for their audience to listen to. The rising penetration of quality smartphones, even in the emerging economies due to competitive pricing, is expected to broaden the appeal of podcasts among a wider audience, thus enhancing market growth.

Podcasters arrange content on a wide range of topics such as sports, entertainment, science and technology, and politics, among others, which make it easier to garner a wide audience. Moreover, the podcaster may go even deeper into niche topics that the audiences may not have much knowledge of, and invitation of famous guests, celebrities and experts is an effective way to gain followers. Thus, constant innovation in the structuring of podcasts is expected to garner high audiences in coming years.

For Full Research Report On Podcasting Market Visit Here: https://www.grandviewresearch.com/industry-analysis/podcast-market

Podcasting Market Report Highlights

• News and politics genre dominated the market with over 30.0% of the total revenue share in 2019
• The solo format is projected to expand at the highest CAGR of over 30.0% from 2020 to 2027
• With the U.S. at the forefront, the North America market for podcasts accounted for the maximum share in 2019 and is forecasted to retain its dominance over the next seven years
• The sports genre is anticipated to witness at the fastest CAGR over the forecast period, which can be attributed to the introduction of podcasting for various sports forms in North America and Europe

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Podcasting Market Segmentation

Grand View Research has segmented the podcasting market on the basis of genre, formats, and region:

Podcasting Genre Outlook (Revenue, USD Billion, 2016 - 2027)

• News & Politics
• Society & Culture
• Comedy
• Sports
• Others

Podcasting Formats Outlook (Revenue, USD Billion, 2016 - 2027)

• Interviews
• Panels
• Solo
• Repurposed Content
• Conversational

Podcasting Regional Outlook (Revenue, USD Billion, 2016 - 2027)

• North America
• The U.S.
• Canada
• Europe
• The U.K.
• Nordic Countries
• Asia Pacific
• China
• South Korea
• Australia
• Latin America
• Brazil
• Mexico
• The Middle East & Africa

List of Key Players of Podcasting Market

• Amazon.com, Inc.
• Apple, Inc.
• iHeartMedia, Inc.
• Pandora Media, Inc.
• Soundcloud Limited
• Spotify AB

About Grand View Research                        

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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