India Audiobooks Market Size and Share Outlook - Forecast Trends and Growth Analysis Report (2024-2032)

India Audiobooks Market Growth

The widespread adoption of smartphones, favourable government efforts to increase the literacy rate in India leading to growing interest in ebooks and audiobooks, and the country’s linguistic diversity leading to the availability of books in several regional languages are some of the prominent drivers propelling the growth of India audiobooks market.

With the rise of digital platforms and streaming services, audiobooks have become more accessible and affordable, making them a popular choice for those looking for on-the-go entertainment or education. Additionally, audiobooks offer a unique way for people to consume content in their native language or in a language they are trying to learn, helping to improve language skills and cultural understanding.

As per the India audiobooks industry analysis, the convenience of audiobooks also appeals to those with visual impairments or learning disabilities, providing them with access to literature and information in a more accessible format. The popularity of audiobooks in urban India reflects a growing trend towards digital consumption and a shift away from traditional print media in recent years as people seek out more convenient and flexible ways to engage with literature and storytelling.

Key Trends and Recent Developments

The growing publishing industry, robust education sector, significant collaborations with ecommerce companies, and preference for regional language audiobooks is boosting the India audiobooks market value.

March 2024

Indian audio content platform Kuku FM announced an exclusive content licensing agreement with global audiobooks leader Storytel. The partnership will enable more than 2 million subscribers of Kuku FM get access to diverse content from different languages across the world. In the initial phase, Kuku FM will receive access to over 3,300 audiobooks and 26,000 hours of audio content on its platform from Storytel’s extensive collection.

November 2022

Storytel, global audiobooks streaming platform collaborated with e-commerce giant Flipkart to introduce audio content in Indian regional languages. Regional language audiobooks have been in high demand in the Indian market owing to the country’s diverse culture and geography. Through the collaboration, Storytel is expecting to tap into Flipkart’s homegrown market and expand its customer base in one of the largest audiobooks markets globally.

July 2022

Multinational e-commerce company, Flipkart announced its entry into India audiobooks industry partnering with Pocket FM, an Indian audio streaming platform. The partnership will enable Flipkart to provide exclusive and licensed audio content through Pocket FM to its 400 million customers in India. Pocket FM launched its audiobooks platform in March 2022 and recorded over 1 lakh sales since then.

February 2022

Audible, Amazon’s audiobooks platform collaborated with global entertainment and web novel platform, Wattapad to introduce the latter’s regional language audio content on its platform. On the other hand, Wattapad will gain access to Audible’s extensive global consumer base. With the collaboration, Audible is expecting the tap the growing demand for regional language audio content in India.

Growing Publishing Industry Leading to the Growth of the India Audiobooks Market

India has the third largest publishing industry in the world, which is expected to grow further owing to several factors such as rise in population, education sector growth, and presence of diverse languages. This will in turn create a huge resource for the audiobooks market to tap into, resulting in parallel and consistent growth during the upcoming years.

India’s Robust Education Sector Creating New Demand for Audiobooks

According to Invest India, a non-profit organization working under the Indian Department of Promotion of Industry and Internal Trade (DPIIT), the education sector is expected to reach USD 313 billion by 2030. The robust growth of the sector will potentially create new audiobooks demand, propelling market growth. Startups such as SunoKitaab have already set their foot in the industry and witnessed immense growth within a few years.

Participation of Ecommerce Giants Leading to Increasing Audiobooks Market Share in India from Forefront

The growth of the market is led by the participation of popular e-commerce companies such as Flipkart and Amazon. These companies have collaborated with several audiobooks’ suppliers in India and across the globe to present a vast resource for Indian readers and audience. Considering the wider reach of these companies among the Indian populations, such collaborations are expected to be more frequent in the upcoming years, increasing the overall growth of the audiobooks market.

Preference for Regional Language Audio Content Driving Audiobooks Demand Growth

India is land of diverse cultures and languages. While a vast number of audiobooks collection across various platforms are present in English language, demand for regional language audiobooks is still on the rise. Major players have attempted to tap into this market and achieved success. This trend is expected to continue in the coming years, increasing the overall India audiobooks market revenue during the forecast period.

India Audiobooks Industry Segmentation

“India 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 Region

• North India
• East and Central India
• West India
• South India

India Audiobooks Market Share

Based on the distribution channel, the market is divided into one-time download and subscription based. The subscription-based model accounts for a substantial market share as subscription services provide users with unlimited access to extensive collections of audiobooks for a regular monthly or yearly payment. This option may prove to be a more economical choice compared to buying individual audiobooks, particularly for those who are frequent listeners, boosting the segment growth.

Leading Companies in the India Audiobooks Market

The market players are extending the libraries to include a diverse range of genres and languages to gain a competitive edge in the market.

• 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