Europe Podcast Market size is set to grow by USD 1.13 bn from 2023-2027. Rising penetration of smartphones and easy access to internet boost the market- Technavio

NEW YORK, March 11, 2024 /PRNewswire/ -- The global podcast market in Europe size is estimated to grow by USD 1.13 bn from 2023 to 2027, according to Technavio. The market is estimated to grow at a CAGR of over 27.5% during the forecast period. Europe held the largest share of the global market in 2022, and the market in the region is estimated to witness an incremental growth of 100%.  For more insights on the historic (2017 - 2021) and forecast market size (2023-2027) - Request a sample report

Drivers

The podcast market in Europe is experiencing growth due to the widespread use of high-end smartphones and easy Internet access. Podcast providers are capitalizing on mobile platforms to reach users, who no longer require large-screen devices for consumption. The increasing affordability of smartphones and mobile Internet subscriptions in countries like Germany, the UK, France, and the Netherlands is fueling demand. Despite the need for Internet connectivity, high-resolution displays are not a necessity for podcast users.

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Market Segmentation by Type

The European podcast market's interviews segment is projected to expand substantially during the forecast period. This growth can be attributed to the expanding Internet penetration and the rising trend of listening to interviews while commuting. Podcast interviews offer listeners the convenience of accessing interviews from various industries without the need for visual context. This segment caters to visually impaired individuals and enables listeners to control playback speed.

Market Landscape

The European podcast market is a segment of the global media and entertainment sector, encompassing companies that produce and sell podcast-related products and services. This includes podcast production and distribution, streaming platforms, and advertising. Key European countries in this market are Germany and France. Podcast trends, driven by consumer demand for diverse genres such as comedy, music, and politics, are fueling growth in this industry. Companies like Apple Inc., Maple Media LLC, iHeartMedia Inc., Mixcloud Ltd., Audioboom Group plc, Funkwhale, and others are major players in the European podcast market. Market size and revenue are influenced by factors such as cultural impact, societal shifts, and competition from traditional radio. Opportunities for podcasting strategies include advertising, sponsorships, and partnerships. The podcast market in Europe is expected to continue experiencing significant growth due to increasing penetration and listenership.

About US

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

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