Global Audiobooks Market Report and Forecast 2024-2032

Global Audiobooks Market Outlook

The global audiobooks market is expected to grow at a CAGR of 24.0% during the period 2024-2032. Asia, North America and Europe are expected to be key markets.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Global Market Likely to be Driven by Growth in Audiobook Listenership

There has been a significant growth in the global market for audiobooks over the last few years. The growth has been a result of attractive offerings from audiobook service providers, expansion of range of listening alternatives (smartphones, tablets, desktops, smart speakers, etc.), and increase in the number of people taking to audiobooks for various reasons. Audiobooks are especially useful for the visually impaired, and for those who like to read but do not have time. Traditionally, audiobooks have been used by teachers and schools to teach second language learners and students with learning disabilities. Audiobooks have provided an effective means to access and enjoy literature. The global audiobooks market is expected to grow during the forecast period.

An audiobook is a voice recording of the text of a book that may be listened to.   you listen to rather than read. An audiobook may be a complete reading of the text, or an abridged version. Audiobooks are generally bought and downloaded just like digital video and music; while these may be bought from online bookstores, there are public domain platforms from which audiobooks may be downloaded for free. Some popular apps and websites offering free and paid access to audiobooks include Apple Books, Audible.com, AllYouCanBooks.com, Project Gutenberg, Downpour, Nook Audiobooks, and OverDrive, among others.

Audiobooks are a strong medium for dissemination of information. Indeed, listening can draw more information (and nuances therein) from the speaker’s inflections. For example, sarcasm is more easily identified and communicated through audio than text in print.

Convenience Offered by Audiobooks Expected to Boost Market Growth

Audiobooks offer the convenience of listening even while doing other tasks, for example, walking, exercising, travelling or performing household chores. Further, audiobooks may be used when one does not feel like reading or in the dark, when it is not practically possible to read a book. Many people like to listen to audiobooks before going to sleep; they simply turn on an audiobook and listen to the audio while drifting into sleep. Such convenience offered by audiobooks is expected to help the growth of the global audiobooks market.

Increase in Listenership is Expected to Continue

Audiobook listenership has been growing. Children’s books form a significant part of audiobook sales. With an increase in children’s smart speaker consumption, popularity of audiobooks among children has also been reported to increase significantly. Further it has been strongly suggested that listening to audiobooks may have a significant positive impact on reading skills and enjoyment; audiobooks may help in the development of reading skills, decoding, and comprehension, and also lead to positive outcomes like wellbeing and emotional intelligence. Youth are also being reported to exhibit growing engagement with audiobooks. It is noteworthy that audiobook consumption is higher among individuals falling in higher income groups. In light of these factors, it is expected that audiobook listenership would continue during the forecast period, boosting market growth.

Audiobooks Market Segmentation

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

By genre, the market is segmented into:

• Fiction
• Non-fiction

By preferred device, the market is classified into:

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

By distribution channel, the market is classified into:

• One-time Download
• Subscription-Based

By target audience, the market is segmented into:

• Kids
• Adults

By region, the market is divided into:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Key Industry Players in the Global Audiobooks Market

The report presents a detailed analysis of the following key players in the market, looking into their capacity, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

• Amazon Inc.
• Apple Inc.
• Audible, Inc.
• Barnes and Noble Booksellers, Inc.
• Downpour
• Google
• Playster
• Others

The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

Key Highlights of the Report