|
Forecast
Period
|
2024-2028
|
|
Market
Size (2022)
|
USD19.42
Billion
|
|
CAGR
(2023-2028)
|
25.34%
|
|
Fastest
Growing Segment
|
News
Genre
|
|
Largest
Market
|
North
America
|
The global podcasting
market is witnessing high demand and is anticipated to grow significantly owing
to the increasing number of smartphone users and rising internet penetration in
different countries. Moreover, the increased demand for regional content and
the rising popularity of podcasts through social media platforms will boost the
global podcasting market.
A digital audio
recording that can be downloaded or played online is referred to as a podcast.
Podcasts have developed beyond being downloaded radio shows to become a
prevalent form of audio entertainment. Each podcast is a series produced by a
host and then made available online, episode by episode, for subscribers to
download and listen to as they are released. Podcasts are an accessible
approach for content producers to communicate with an audience, in contrast to
more conventional content production techniques such as TV and radio programs.
Moreover, podcasts still need to be regulated. Hence, podcasters can hold a
broadcasting license to distribute their episodes. Anyone with a microphone,
recording software, and a hosting platform subscription can start their
podcast.
Furthermore, the
increasing penetration of smartphones, laptops, and tablets in different
countries drives the global podcasting market. According to the report
“Computer and Internet use in the United States: 2018” by the United States
Census Bureau, 84% of households had smartphones, compared to 78% that had a
desktop or laptop.
The use of blockchain,
artificial intelligence (AI), and Internet of Things (IoT) technologies has
dramatically impacted market expansion. Additionally, the podcast industry is expected
to expand due to integrating innovative technologies into modernized
transcription technology and paid podcast events.