Market Research Report

Global Audiobooks Market Research Report: Forecast (2024-2029)

By Genre (Fiction, Non Fiction), By Device Type (Smartphones, Laptops & Tabs, Personal digital Assistance), By Sales Channel (Subscription-based, One Time Download), By Target Audi...ence (Kids, Adults), By Region (North America, South America, Europe, The Middle East & Africa, Asia-Pacific), By Company (Apple Inc., Amazon Inc., Google LLC., Barnes & Noble Booksellers Inc., Downpour, Rakuten Group Inc., Storytel, W.F Howes, LibriVox, Bookbeat, Others) Read more

  • ICT & Electronics
  • Oct 2023
  • 178
  • IT55085

Market Definition

An audiobook is an audio recording of a book, typically in a spoken-word format, allowing listeners to experience the content of a book through sound. It is a popular alternative to reading printed or digital text and offers several advantages, such as accessibility for individuals with visual impairments, the convenience of multitasking, and others.

Market Insights & Analysis: Global Audiobooks Market (2024-29):

The Global Audiobooks Market size is valued at around USD 6.7 billion in 2023 and is estimated to grow at a CAGR of about 25.5% during the forecast period, i.e., 2024-29. The industry has grown tremendously in recent years due to the rise in demand for these books & the growing presence of audiobook subscription start-ups. Audiobooks are always delivered & attended digitally on a tablet, mobile, or computer, ensuring copyright protection & reducing distribution costs. The integration of play, pause, forward, and rewind features has enabled users to conveniently access their books anywhere and anytime, making them more appealing than their hardcover counterparts.

The proliferation of digital platforms & streaming services has ushered in an era of unparalleled accessibility in the audiobook industry, providing an extensive & diverse library of titles. This accessibility has been further bolstered by the widespread adoption of digital technology and the presence of smartphones & other portable devices, simplifying the audiobooks consumption experience. This shift towards digital advancement has expanded the global market by eliminating physical distribution barriers, fostering international reach, and enabling listeners to enjoy content in multiple languages.

Report Coverage Details
Study Period Historical Data: 2019-22
Base Year: 2023
Forecast Period: 2024-29
CAGR (2024-2029) 25.5%
Regions Covered North America: US, Canada, Mexico
Europe: Germany, The UK, France, Spain, Italy, Rest of Europe
Asia-Pacific: China, India, Japan, South Korea, Rest of Asia-Pacific
South America: Brazil, Argentina, Rest of South America
Middle East & Africa: UAE, Saudi Arabia, South Africa, Rest of MEA
Key Companies Profiled Apple Inc., Amazon Inc., Google LLC., Barnes & Noble Booksellers Inc., Downpour, Rakuten Group Inc., Storytel, W.F Howes, LibriVox, Bookbeat, Others
Market Value (2023) USD 6.7 Billion

 

Furthermore, the audiobook industry has been revitalized by the engagement of talented narrators, including authors, actors, and voice professionals, enhancing the overall listening experience. Thus, the booming popularity of self-help, education, and non-fiction audiobooks has attracted a diverse audience, contributing to the Audiobooks Market size.

Global Audiobooks Market Driver:

Digitalization to Support the Market Growth of Audiobook Globally – The ongoing digitalization & the rise of streaming services have played a pivotal role in driving the growth of the Global Audiobooks Market. This digital transformation has revolutionized the way audiobooks are devoured & distributed.

By transitioning from physical formats to digital platforms, these books have become more accessible to a global audience. The shift to digital formats has eliminated many of the traditional barriers to entry, allowing for instant downloads & easy access to a vast library of audiobooks, thus infusing the market expansion.


Global Audiobooks Market Research Report: Forecast (2024-2029)

Global Audiobooks Market Challenge:

Availability of Alternative Channel to Hinder the Growth – The competition from other media forms presents a notable challenge for the Global Audiobook Market. Audiobooks compete for the interest & free time of consumers in a crowded environment teeming with various content choices such as physical books, e-books, podcasts, and on-demand streaming services.

While the audiobook industry has seen substantial growth in recent years, it shares the stage with these alternative entertainment & information sources. This dynamic competition has both positive & negative implications for the market in the years ahead.

Global Audiobooks Market (2024-29): Segmentation Analysis

The Global Audiobook Market study of MarkNtel Advisors evaluates & highlights the major trends and influencing factors in each segment & includes predictions for the period 2024–2029 at the global, regional, and country levels. In accordance to the analysis, the market has been further classified as:

Based on Device Type:

  • Smart phone
  • Laptop
  • Personal Digital Assistance

With acquiring the potential share, Smartphones have consistently maintained their dominant position in the Audiobook Market. It offers unparalleled portability & accessibility, allowing users to carry an extensive audiobook library in their pocket. This accessibility translates into versatility, enabling listeners to seamlessly integrate audiobooks into various aspects of their daily lives, such as during commutes, workouts, moments of leisure, and others.

The demand for audiobooks via smartphones continues to gain momentum, mainly due to these user-friendly features. Also, the inclusion of functionalities such as offline listening & cross-platform synchronization further solidifies smartphones as a comprehensive & adaptable platform for audiobook enthusiasts, thus propelling the Audiobook Market growth in the forecast years.

Based on Sales Channel:

  • Subscription-based
  • One-time password

Subscription-based models are becoming most popular among audiobook listeners, with platforms like Audible, Scribd, and Audiobooks.com having pioneered this approach, providing subscribers with unlimited access to a vast library of audiobooks for a monthly fee.

This model offers listeners unparalleled flexibility & exceptional value for their investment, enticing them to venture into uncharted territory by exploring audiobooks from diverse authors & genres. This emerging trend is spurring innovation in the form of new voice-based features, thus simplifying the process for users to discover, select, and enjoy their favorite audiobooks.

Gain a Competitive Edge with Our Global Audiobooks Market Report

  • Global Audiobooks Market Report by MarkNtel Advisors provides a detailed & thorough analysis of market size, growth rate, competitive landscape, and key players. This comprehensive analysis helps businesses gain a holistic understanding of the market dynamics & make informed decisions.
  • This report also highlights current market trends & future projections, allowing businesses to identify emerging opportunities & potential challenges. By understanding market forecasts, companies can align their strategies & stay ahead of the competition.
  • Global Audiobooks Market Report aids in assessing & mitigating risks associated with entering or operating in the market. By understanding market dynamics, regulatory frameworks, and potential challenges, businesses can develop strategies to minimize risks & optimize their operations.

Frequently Asked Questions

   A. The Audiobooks Market is expected to grow at a compound annual growth rate (CAGR) of 25.5% from 2024 to 2029

   A. The Audiobooks market size is valued at around USD 6.7 billion in 2023.

   A. The global digitalization is expected to drive the Audiobooks Market during 2024-29.

   A. The top players in the Audiobooks Market are Apple, Amazon Inc., Google LLC, Downpour, Rakuten Group Inc., Storytel, WF Howes, LibriVox, bookbeat and others.

   A. Smartphone held the largest share of the Audiobooks Market.

Global Audiobooks Market Research Report (2024-2029) - Table of Contents

 

  1. Market Segmentation
  2. Introduction
    1. Product Definition
    2. Research Process
    3. Assumptions
  3. Executive Summary
  4. Global Audiobook Market Trends & Developments
  5. Global Audiobook Market Dynamics
    1. Drivers
    2. Challenges
  6. Global Audiobook Market Porter Five Analysis
  7. Global Audiobook Market Regulations, Policies & Standards
  8. Global Audiobook Hotspot and Opportunities
  9. Global Audiobook Market Outlook, 2019-2029F
    1. Market Size & Analysis
      1. By Revenues USD Million
    2. Market Size & Analysis
      1. By Genre
        1. Fiction-Market Size & Forecast 2019-2029, USD Million
        2. Non Fiction- Market Size & Forecast 2019-2029, USD Million
      2. By Device Type
        1. Smartphones- Market Size & Forecast 2019-2029, USD Million
        2. Laptops & Tabs - Market Size & Forecast 2019-2029, USD Million
        3. Personal digital Assistance- Market Size & Forecast 2019-2029, USD Million
      3. By Sales Channel
        1. Subscription-based- Market Size & Forecast 2019-2029, USD Million
        2. One Time Download- Market Size & Forecast 2019-2029, USD Million
      4. By Target Audience
        1. Kids- Market Size & Forecast 2019-2029, USD Million
        2. Adults- Market Size & Forecast 2019-2029, USD Million
      5. By Region
        1. North America
        2. South America
        3. Europe
        4. The Middle East & Africa
        5. Asia-Pacific
      6. By Competition
        1. Competition Characteristics
        2. Market Share Analysis
  10. North America Audiobook Market Outlook, 2019-2029F
    1. Market Size & Analysis
      1. By Revenues USD Million
    2. Market Share & Analysis
      1. By Genre- Market Size & Forecast 2019-2029, USD Million
      2. By Device Type- Market Size & Forecast 2019-2029, USD Million
      3. By Sales Channel- Market Size & Forecast 2019-2029, USD Million
      4. By Target Audience- Market Size & Forecast 2019-2029, USD Million
      5. By Country
        1. The US
        2. Canada
        3. Mexico
    3. The US Audiobook Market Outlook, 2019-2029F
      1. Market Size & Analysis
        1. By Revenues USD Million
      2. Market Share & Analysis
        1. By Genre- Market Size & Forecast 2019-2029, USD Million
        2. By Sales Channel- Market Size & Forecast 2019-2029, USD Million
    4. Canada Audiobook Market Outlook, 2019-2029F
      1. Market Size & Analysis
        1. By Revenues USD Million
      2. Market Share & Analysis
        1. By Genre- Market Size & Forecast 2019-2029, USD Million
        2. By Sales Channel - Market Size & Forecast 2019-2029, USD Million
    5. Mexico Audiobook Market Outlook, 2019-2029F
      1. Market Size & Analysis
        1. By Revenues USD Million
      2. Market Share & Analysis
        1. By Genre- Market Size & Forecast 2019-2029, USD Million
        2. By Sales Channel - Market Size & Forecast 2019-2029, USD Million
  11. South America Audiobook Market Outlook, 2019-2029F
    1. Market Size & Analysis
      1. By Revenues USD Million
    2. Market Share & Analysis
      1. By Genre- Market Size & Forecast 2019-2029, USD Million
      2. By Device Type- Market Size & Forecast 2019-2029, USD Million
      3. By Sales Channel- Market Size & Forecast 2019-2029, USD Million
      4. By Target Audience- Market Size & Forecast 2019-2029, USD Million
    3. By Country
      1. Brazil
      2. Argentina
      3. Rest of South America
  12. Brazil Audiobook Market Outlook, 2019-2029F
    1. Market Size & Analysis
      1. By Revenues USD Million
    2. Market Share & Analysis
      1. By Genre- Market Size & Forecast 2019-2029, USD Million
      2. By Sales Channel - Market Size & Forecast 2019-2029, USD Million
  13. Argentina Audiobook Market Outlook, 2019-2029F
    1. Market Size & Analysis
      1. By Revenues USD Million
    2. Market Share & Analysis
      1. By Genre- Market Size & Forecast 2019-2029, USD Million
      2. By Sales Channel - Market Size & Forecast 2019-2029, USD Million
  14. Europe Audiobook Market Outlook, 2019-2029F
    1. Market Size & Analysis
      1. By Revenues USD Million
    2. Market Share & Analysis
      1. By Genre- Market Size & Forecast 2019-2029, USD Million
      2. By Device Type- Market Size & Forecast 2019-2029, USD Million
      3. By Sales Channel- Market Size & Forecast 2019-2029, USD Million
      4. By Target Audience- Market Size & Forecast 2019-2029, USD Million
      5. By Country
        1. Germany
        2. The UK
        3. France
        4. Spain
        5. Italy
        6. Rest of Europe
    3. Germany Audiobook Market Outlook, 2019-2029F
      1. Market Size & Analysis
        1. By Revenues USD Million
      2. Market Share & Analysis
        1. By Genre- Market Size & Forecast 2019-2029, USD Million
        2. By Sales Channel - Market Size & Forecast 2019-2029, USD Million
    4. The UK Audiobook Market Outlook, 2019-2029F
      1. Market Size & Analysis
        1. By Revenues USD Million
      2. Market Share & Analysis
        1. By Genre- Market Size & Forecast 2019-2029, USD Million
        2. By Sales Channel - Market Size & Forecast 2019-2029, USD Million
    5. France Audiobook Market Outlook, 2019-2029F
      1. Market Size & Analysis
        1. By Revenues USD Million
      2. Market Share & Analysis
        1. By Genre- Market Size & Forecast 2019-2029, USD Million
        2. By Sales Channel - Market Size & Forecast 2019-2029, USD Million
    6. Spain Audiobook Market Outlook, 2019-2029F
      1. Market Size & Analysis
        1. By Revenues USD Million
      2. Market Share & Analysis
        1. By Genre- Market Size & Forecast 2019-2029, USD Million
        2. By Sales Channel - Market Size & Forecast 2019-2029, USD Million
    7. Italy Audiobook Market Outlook, 2019-2029F
      1. Market Size & Analysis
        1. By Revenues USD Million
      2. Market Share & Analysis
        1. By Genre- Market Size & Forecast 2019-2029, USD Million
        2. By Sales Channel - Market Size & Forecast 2019-2029, USD Million
  15. The Middle East & Africa Audiobook Market Outlook, 2019-2029F
    1. Market Size & Analysis
      1. By Revenues USD Million
    2. Market Share & Analysis
      1. By Genre- Market Size & Forecast 2019-2029, USD Million
      2. By Device Type- Market Size & Forecast 2019-2029, USD Million
      3. By Sales Channel- Market Size & Forecast 2019-2029, USD Million
      4. By Target Audience- Market Size & Forecast 2019-2029, USD Million
      5. By Country
        1. The UAE
        2. Saudi Arabia
        3. South Africa
        4. Rest of Middle East & Africa
    3. The UAE Audiobook Market Outlook, 2019-2029F
      1. Market Size & Analysis
        1. By Revenues USD Million
      2. Market Share & Analysis
        1. By Genre- Market Size & Forecast 2019-2029, USD Million
        2. By Sales Channel - Market Size & Forecast 2019-2029, USD Million
    4. Saudi Arabia Audiobook Market Outlook, 2019-2029F
      1. Market Size & Analysis
        1. By Revenues USD Million
      2. Market Share & Analysis
        1. By Genre- Market Size & Forecast 2019-2029, USD Million
        2. By Sales Channel - Market Size & Forecast 2019-2029, USD Million
    5. South Africa Audiobook Market Outlook, 2019-2029F
      1. Market Size & Analysis
        1. By Revenues USD Million
      2. Market Share & Analysis
        1. By Genre- Market Size & Forecast 2019-2029, USD Million
        2. By Sales Channel - Market Size & Forecast 2019-2029, USD Million
  16. Asia-Pacific Audiobook Market Outlook, 2019-2029F
    1. Market Size & Analysis
      1. By Revenues USD Million
    2. Market Share & Analysis
      1. By Genre- Market Size & Forecast 2019-2029, USD Million
      2. By Device Type- Market Size & Forecast 2019-2029, USD Million
      3. By Sales Channel- Market Size & Forecast 2019-2029, USD Million
      4. By Target Audience- Market Size & Forecast 2019-2029, USD Million
      5. By Country
        1. China
        2. Japan
        3. India
        4. South Korea
        5. Australia
        6. Rest of Asia Pacific
    3. China Audiobook Market Outlook, 2019-2029F
      1. Market Size & Analysis
        1. By Revenues USD Million
      2. Market Share & Analysis
        1. By Genre- Market Size & Forecast 2019-2029, USD Million
        2. By Sales Channel - Market Size & Forecast 2019-2029, USD Million
    4. Japan Audiobook Market Outlook, 2019-2029F
      1. Market Size & Analysis
        1. By Revenues USD Million
      2. Market Share & Analysis
        1. By Genre- Market Size & Forecast 2019-2029, USD Million
        2. By Sales Channel - Market Size & Forecast 2019-2029, USD Million
    5. India Audiobook Market Outlook, 2019-2029F
      1. Market Size & Analysis
        1. By Revenues USD Million
      2. Market Share & Analysis
        1. By Genre- Market Size & Forecast 2019-2029, USD Million
        2. By Sales Channel - Market Size & Forecast 2019-2029, USD Million
    6. South Korea Audiobook Market Outlook, 2019-2029F
      1. Market Size & Analysis
        1. By Revenues USD Million
      2. Market Share & Analysis
        1. By Genre- Market Size & Forecast 2019-2029, USD Million
        2. By Sales Channel - Market Size & Forecast 2019-2029, USD Million
    7. Australia Audiobook Market Outlook, 2019-2029F
      1. Market Size & Analysis
        1. By Revenues USD Million
      2. Market Share & Analysis
        1. By Genre- Market Size & Forecast 2019-2029, USD Million
        2. By Sales Channel - Market Size & Forecast 2019-2029, USD Million
  17. Global Audiobook Market Key Strategic Imperatives for Success & Growth
  18. Competitive Outlook
    1. Company Profiles 
      1. Apple
        1. Business Description
        2. Type Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      2. Amazon Inc.
        1. Business Description
        2. Type Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      3. Google LLC.
        1. Business Description
        2. Type Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      4. Barnes & Noble Booksellers Inc.
        1.  Business Description
        2. Type Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      5. Downpour
        1. Business Description
        2. Type Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      6. Rakuten Group Inc.
        1.  Business Description
        2. Type Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      7. Storytel
        1. Business Description
        2. Type Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      8. W.F Howes                       
        1. Business Description
        2. Type Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      9. LibriVox
        1. Business Description
        2. Type Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      10. Bookbeat
        1. Business Description
        2. Type Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      11. Others
  19. Disclaimer


Audiobook Market Segmentation