Asia Pacific Audiobooks Market Size Analysis Report - Market Share, Forecast Trends and Outlook (2024-2032)

Asia Pacific Audiobooks Market Growth

Increased penetration of smartphones, easy availability of high-speed internet, and preference for audiobooks over conventional e-books and print publications are some of the prominent factors fueling the growth of the Asia Pacific audiobooks market. In largely populated countries such as China and India, the busy lifestyle of the working population, and long commutation hours have persuaded readers to opt for audiobooks, one of the most efficient ways to enjoy book reading while travelling and multitasking.

Moreover, publishers are readily localising their content by providing audiobooks in different regional languages to cater to the diverse linguistic communities in the Asia Pacific region. This is a win-win situation for both, as the publishers receive a wider audience reach whereas the audience receives access to a variety of homegrown stories in their native languages.

The provision of subscription services by leading audiobook providers such as Audible, similar to the ones found in video streaming services, have gained significant popularity in recent years, opening up several Asia Pacific audiobooks market opportunities. These subscription models have provided customers with unlimited access to a wide range of audiobooks for a negligible monthly fee.

Key Trends and Recent Developments

The growing working population, increased use of AI, abundance of regional markets, and presence of large publishing industries are accelerating Asia Pacific audiobooks industry revenue.

March 2024

The Indian audio content platform Kuku FM announced its collaboration with Storytel, a global leader in the audiobooks industry. The goal is to provide over 2 million subscribers of Kuku FM with wider audio content sourced from Storytel’s collection in different languages. Post collaboration, Kuku FM has integrated over 3,300 audiobooks and 26,000 hours’ worth of audio content for its subscribers. 

November 2022

Fonos, an audio content startup based in Vietnam raised USD 1.8 million worth of pre-series A funding led by American media and technology company, North Base Media. Vietnamese investors such as AngelCentral, Vietcetera’s Vietnam Innovators Fund, and Orel Ventures also participated in the round. The funding hence received will be used for the startups’s market expansion and content acquisition needs in the coming years. Fonos has established itself as a major audio content platform in Vietnam since its launch with over 2100 exclusive pieces of content on its platform including audiobooks.

June 2022

Pottermore Publishing, the original publisher of the Harry Porter series collaborated with Shanghai-based Ximalaya to create its new audiobook version purely in Mandarin, China’s native language. Additionally, this is the first time that Harry Porter audiobooks were recorded with sound effects and musical score, featuring three voice artists.

March 2022

Krafton, a gaming platform based in South Korea granted USD 19.5 million worth of investment to India-based audio content platform Kuku FM. The latter claims to use the fund for market expansion and content development purposes. Kuku FM is India’s leading content platform producing all types of audio content, including audiobooks in Hindi and other regional languages.

Growing Working Population is Leading to the Increasing Audiobooks Demand Growth

Audiobooks are ideal for Asia’s growing working population as they allow easy and flexible access to published content. Despite a busy schedule, working individuals can still listen to audiobooks while multitasking or travelling. This has raised their demand for conventional print or e-books that require time for stable access. With the rising working population in the coming years, the market growth in Asia Pacific is inevitable.

Use of AI is Enhancing the Production of Audiobooks

Audiobooks are conventionally recorded by voice artists. However, the introduction of AI has made this process more efficient and flawless. AI tools such as speech to text converters and digital narration have enhanced audiobook production and reduced the minute performance flaws found in human recordings. Key market players are using AI to develop audiobooks at a faster pace. For instance, Spotify, which had recently launched free audiobooks for its premium subscribers, had also partnered with Google Cloud to use its AI-based large language models to help identify user’s listening pattern across audiobooks and make customised recommendations.

A Large Publishing Industry Propelling Audiobooks Industry Growth

Asia houses some of the largest publishing industries in the world. As per Asia Pacific audiobooks industry analysis, the top five Asian countries with the largest publishing houses are Japan, Republic of Korea, India, Indonesia, and Turkey. Out of these, Japan published maximum number of books in 2023, whereas India was recorded as second largest global publishing market in English Language. These markets are expected to propel the growth of the audiobooks industry in the region.

Abundance of Regional Markets Enhancing Asia Pacific Audiobooks Industry Revenue

The Asia Pacific region has an abundance of distinct cultures and languages, which provides a huge scope for the development of the regional audiobooks market. Key players are tapping into this potential to increase their share in revenue and subscriber’s base. For instance, India’s homegrown audiobooks startup Kuku FM and Pocket FM are selling audiobooks in regional languages such as Hindi, Marathi, Gujrati, and Tamil for a wider reach.

Asia Pacific Audiobooks Market Industry Segmentation

“Asia Pacific Audiobooks Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

Market Breakup by Genre

• Fiction
• Non-Fiction

Market Breakup by Preferred Device

• Smartphones
• Laptops and Tablets
• Personal Digital Assistants
• Others

Market Breakup by Distribution Channel

• One-time Download
• Subscription-Based

Market Breakup by Target Audience

• Kids
• Adults

Market Breakup by Country

• China
• Japan
• India
• ASEAN
• Australia
• Others

Asia Pacific Audiobooks Market Share

Based on the preferred device, the market is divided into smartphones, laptops and tablets, and personal digital assistants, among others. Smartphones hold the major market share as they have become increasingly popular because of their convenience and portability. They enable users to easily access audiobooks at anytime and anywhere, seamlessly integrating them into their busy, on-the-go lifestyles. The presence of a variety of audiobook apps on smartphone platforms such as iOS and Android simplify the process of downloading and enjoying audiobooks for users.

Leading Companies in the Asia Pacific Audiobooks Market

The market players are extending their libraries and including new genres to cater to a wide range of audiences.

• Amazon.com Inc.
• Apple Inc.
• Rakuten Group, Inc.
• Google LLC
• Storytel AB
• News Corp.
• Penguin Random House Co.
• KUKU FM
• Orange-Publishers
• Timbre Media Pvt Ltd.
• Others