NEW YORK, Aug. 16, 2023 /PRNewswire/ -- The radio market is to grow by USD 8,509.2 million from 2022 to 2027 progressing at a CAGR of 3.09% during the forecast period. The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment. The market is driven by access to the latest music and live updates. Access to the latest music and live updates is a key factor driving market growth. The cost of subscribing to most radio channels is very low and the cost of the equipment is the only cost incurred by the radio, which must be adjusted. In addition, live broadcasts via radio channels include live coverage of sports, politics, regional news, local news, new product launches, traffic updates, date, and time savings, offers, etc. Listeners are updated without having to connect to any of their devices or the internet with these live updates on radio broadcasts. Hence, these factors are expected to drive market growth during the forecast period. -Here is an Exclusive report talking about Market scenarios with a historical period (2017-2021) and a forecast period (2023-2027). Download Sample Report in minutes!
The report on the radio market provides a holistic update, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis.
Radio Market 2023-2027 - Market Dynamics
Major Trends
Online radio services are a major trend in the market. Online radio streaming is getting popularity among listeners as a platform for listening to radio. The vendors in today's market provide their services over the Internet. Moreover, several radio channels have merged with streaming portals and other radio channels to serve both online radio and music streaming services on the same platform. The demand for internet radio is increasing due to the availability of mobile internet and increasing internet penetration. Thus, online radio services are expected to drive market growth during the forecast period.
Significant Challenges
The lower impact of radio-based advertising is a significant challenge restricting market growth. The main source of revenue for the radio market is advertising. However, radio has a limited reach and limitations associated with it compared to other advertising mediums. Radio was originally a local media platform restricted to small areas of the country. Moreover, radio ads can become attractive with the help of a jingle, other tests like graphics are not possible in this form of advertising as they are only sound. Hence, the lower impact of radio-based advertising is expected to restrict market growth during the forecast period.
Radio Market 2023-2027: Market Segmentation
The radio market is segmented by type (broadcast radio, online mobile radio, and satellite radio), revenue (advertising, public license fee, and subscription), and geography( North America, Europe, APAC, South America, and the Middle East and Africa).
- The market share growth by the broadcast radio segment will be significant during the forecast period. The signal is transmitted from the radio station to the audience through a repeater station or directly through the broadcast station. Radio has types like amplitude modulation (AM) and frequency modulation (FM). The main driver of this segment is that it doesn't require any special equipment to connect. Most smartphone manufacturers have integrated broadcast radio chips into their smartphones, enabling radio transmission to smartphones due to the latest advancements in technology. Hence, these factors are expected to drive market growth during the forecast period.
- North America is estimated to contribute 30% to the growth of the global market during the forecast period. The growth in the region is due to the rising number of advertisements and subscription revenue from Canada's satellite radio. The US is the key contributor to the market in the region. Furthermore, the demand for digital radios is increasing due to the transition to using digital rather than analog standards in this region. Hence, these factors are expected to drive market growth in the region during the forecast period.
This report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources through an analysis of key parameters- View Sample Report
The radio market covers the following areas:
Companies Mentioned
- Audacy Inc.
- Australian Broadcasting Corp.
- BCE Inc.
- Beasley Broadcast Group Inc.
- Bertelsmann SE and Co. KGaA
- Cox Enterprises Inc.
- Cumulus Media Inc.
- Deseret Management Corp.
- EMMIS Communications Corp.
- Global Media and Entertainment Ltd.
- Heinrich Bauer Verlag KG
- Sirius XM Holdings Inc.
- The Walt Disney Co.
Company Offerings
- Australian Broadcasting Corp. - The company offers radio solutions in the global radio market via private and government broadcasting.
- Audacy Inc. - The company offers radio solutions to broadcast several radio channels which involves spot and digital productions.
- BCE Inc. - The company offers radio solutions for radio broadcasting channels for home, internet, TV, and others.
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The microwave radio market is estimated to grow at a CAGR of 17.93% between 2022 and 2027. The market size is forecast to increase by USD 20,867.98 million. Furthermore, this report extensively covers market segmentation by type (hybrid microwave radio, packet microwave radio, and TDM microwave radio), application (communication, power utilities, and others), and geography (APAC, North America, Europe, Middle East and Africa, and South America). The increasing demand for point-to-point communication networks is a key factor driving market growth during the forecast period.
The land mobile radio (LMR) market is estimated to grow at a CAGR of 11.41% between 2022 and 2027. The size of the market is forecast to increase by USD 10,922.11 million. Furthermore, this report extensively covers market segmentation by technology (DMR, project 25, TETRA, and others), type (hand portable and in-vehicle), and geography (North America, APAC, Europe, Middle East and Africa, and South America). The growing significance of efficient critical communication operations is a key factor driving market growth during the forecast period.
Radio Market Scope |
|
Report Coverage |
Details |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3.09% |
Market growth 2023-2027 |
USD 8,509.2 million |
Market structure |
Concentrated |
YoY growth 2022-2023(%) |
2.87 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 30% |
Key countries |
US, China, Japan, UK, and Germany |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Audacy Inc., Australian Broadcasting Corp., BCE Inc., Beasley Broadcast Group Inc., Bertelsmann SE and Co. KGaA, Cox Enterprises Inc., Cumulus Media Inc., Deseret Management Corp., EMMIS Communications Corp., Global Media and Entertainment Ltd., Heinrich Bauer Verlag KG, Sirius XM Holdings Inc., and The Walt Disney Co. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of Contents
1 Executive Summary
- 1.1 Market Overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Type
- Exhibit 06: Executive Summary – Chart on Market Segmentation by Revenue
- Exhibit 07: Executive Summary – Chart on Incremental Growth
- Exhibit 08: Executive Summary – Data Table on Incremental Growth
- Exhibit 09: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 10: Parent market
- Exhibit 11: Market Characteristics
3 Market Sizing
- 3.1 Market definition
- Exhibit 12: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 13: Market segments
- 3.3 Market size 2022
- 3.4 Market outlook: Forecast for 2022-2027
- Exhibit 14: Chart on Global - Market size and forecast 2022-2027 (USD million)
- Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 (USD million)
- Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
- Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)
4 Historic Market Size
- 4.1 Global radio market 2017 - 2021
- Exhibit 18: Historic Market Size – Data Table on global radio market 2017 - 2021 (USD million)
- 4.2 Type Segment Analysis 2017 - 2021
- Exhibit 19: Historic Market Size – Type Segment 2017 - 2021 (USD million)
- 4.3 Revenue Segment Analysis 2017 - 2021
- Exhibit 20: Historic Market Size – Revenue Segment 2017 - 2021 (USD million)
- 4.4 Geography Segment Analysis 2017 - 2021
- Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 (USD million)
- 4.5 Country Segment Analysis 2017 - 2021
- Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 (USD million)
5 Five Forces Analysis
- 5.1 Five forces summary
- Exhibit 23: Five forces analysis - Comparison between 2022 and 2027
- 5.2 Bargaining power of buyers
- Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
- 5.3 Bargaining power of suppliers
- Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
- 5.4 Threat of new entrants
- Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
- 5.5 Threat of substitutes
- Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
- 5.6 Threat of rivalry
- Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
- 5.7 Market condition
- Exhibit 29: Chart on Market condition - Five forces 2022 and 2027
6 Market Segmentation by Type
- 6.1 Market segments
- Exhibit 30: Chart on Type - Market share 2022-2027 (%)
- Exhibit 31: Data Table on Type - Market share 2022-2027 (%)
- 6.2 Comparison by Type
- Exhibit 32: Chart on Comparison by Type
- Exhibit 33: Data Table on Comparison by Type
- 6.3 Broadcast radio - Market size and forecast 2022-2027
- Exhibit 34: Chart on Broadcast radio - Market size and forecast 2022-2027 (USD million)
- Exhibit 35: Data Table on Broadcast radio - Market size and forecast 2022-2027 (USD million)
- Exhibit 36: Chart on Broadcast radio - Year-over-year growth 2022-2027 (%)
- Exhibit 37: Data Table on Broadcast radio - Year-over-year growth 2022-2027 (%)
- 6.4 Online mobile radio - Market size and forecast 2022-2027
- Exhibit 38: Chart on Online mobile radio - Market size and forecast 2022-2027 (USD million)
- Exhibit 39: Data Table on Online mobile radio - Market size and forecast 2022-2027 (USD million)
- Exhibit 40: Chart on Online mobile radio - Year-over-year growth 2022-2027 (%)
- Exhibit 41: Data Table on Online mobile radio - Year-over-year growth 2022-2027 (%)
- 6.5 Satellite radio - Market size and forecast 2022-2027
- Exhibit 42: Chart on Satellite radio - Market size and forecast 2022-2027 (USD million)
- Exhibit 43: Data Table on Satellite radio - Market size and forecast 2022-2027 (USD million)
- Exhibit 44: Chart on Satellite radio - Year-over-year growth 2022-2027 (%)
- Exhibit 45: Data Table on Satellite radio - Year-over-year growth 2022-2027 (%)
- 6.6 Market opportunity by Type
- Exhibit 46: Market opportunity by Type (USD million)
- Exhibit 47: Data Table on Market opportunity by Type (USD million)
7 Market Segmentation by Revenue
- 7.1 Market segments
- Exhibit 48: Chart on Revenue - Market share 2022-2027 (%)
- Exhibit 49: Data Table on Revenue - Market share 2022-2027 (%)
- 7.2 Comparison by Revenue
- Exhibit 50: Chart on Comparison by Revenue
- Exhibit 51: Data Table on Comparison by Revenue
- 7.3 Advertising - Market size and forecast 2022-2027
- Exhibit 52: Chart on Advertising - Market size and forecast 2022-2027 (USD million)
- Exhibit 53: Data Table on Advertising - Market size and forecast 2022-2027 (USD million)
- Exhibit 54: Chart on Advertising - Year-over-year growth 2022-2027 (%)
- Exhibit 55: Data Table on Advertising - Year-over-year growth 2022-2027 (%)
- 7.4 Public license fee - Market size and forecast 2022-2027
- Exhibit 56: Chart on Public license fee - Market size and forecast 2022-2027 (USD million)
- Exhibit 57: Data Table on Public license fee - Market size and forecast 2022-2027 (USD million)
- Exhibit 58: Chart on Public license fee - Year-over-year growth 2022-2027 (%)
- Exhibit 59: Data Table on Public license fee - Year-over-year growth 2022-2027 (%)
- 7.5 Subscription - Market size and forecast 2022-2027
- Exhibit 60: Chart on Subscription - Market size and forecast 2022-2027 (USD million)
- Exhibit 61: Data Table on Subscription - Market size and forecast 2022-2027 (USD million)
- Exhibit 62: Chart on Subscription - Year-over-year growth 2022-2027 (%)
- Exhibit 63: Data Table on Subscription - Year-over-year growth 2022-2027 (%)
- 7.6 Market opportunity by Revenue
- Exhibit 64: Market opportunity by Revenue (USD million)
- Exhibit 65: Data Table on Market opportunity by Revenue (USD million)
8 Customer Landscape
- 8.1 Customer landscape overview
- Exhibit 66: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
9 Geographic Landscape
- 9.1 Geographic segmentation
- Exhibit 67: Chart on Market share by geography 2022-2027 (%)
- Exhibit 68: Data Table on Market share by geography 2022-2027 (%)
- 9.2 Geographic comparison
- Exhibit 69: Chart on Geographic comparison
- Exhibit 70: Data Table on Geographic comparison
- 9.3 North America - Market size and forecast 2022-2027
- Exhibit 71: Chart on North America - Market size and forecast 2022-2027 (USD million)
- Exhibit 72: Data Table on North America - Market size and forecast 2022-2027 (USD million)
- Exhibit 73: Chart on North America - Year-over-year growth 2022-2027 (%)
- Exhibit 74: Data Table on North America - Year-over-year growth 2022-2027 (%)
- 9.4 Europe - Market size and forecast 2022-2027
- Exhibit 75: Chart on Europe - Market size and forecast 2022-2027 (USD million)
- Exhibit 76: Data Table on Europe - Market size and forecast 2022-2027 (USD million)
- Exhibit 77: Chart on Europe - Year-over-year growth 2022-2027 (%)
- Exhibit 78: Data Table on Europe - Year-over-year growth 2022-2027 (%)
- 9.5 APAC - Market size and forecast 2022-2027
- Exhibit 79: Chart on APAC - Market size and forecast 2022-2027 (USD million)
- Exhibit 80: Data Table on APAC - Market size and forecast 2022-2027 (USD million)
- Exhibit 81: Chart on APAC - Year-over-year growth 2022-2027 (%)
- Exhibit 82: Data Table on APAC - Year-over-year growth 2022-2027 (%)
- 9.6 South America - Market size and forecast 2022-2027
- Exhibit 83: Chart on South America - Market size and forecast 2022-2027 (USD million)
- Exhibit 84: Data Table on South America - Market size and forecast 2022-2027 (USD million)
- Exhibit 85: Chart on South America - Year-over-year growth 2022-2027 (%)
- Exhibit 86: Data Table on South America - Year-over-year growth 2022-2027 (%)
- 9.7 Middle East and Africa - Market size and forecast 2022-2027
- Exhibit 87: Chart on Middle East and Africa - Market size and forecast 2022-2027 (USD million)
- Exhibit 88: Data Table on Middle East and Africa - Market size and forecast 2022-2027 (USD million)
- Exhibit 89: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
- Exhibit 90: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)
- 9.8 US - Market size and forecast 2022-2027
- Exhibit 91: Chart on US - Market size and forecast 2022-2027 (USD million)
- Exhibit 92: Data Table on US - Market size and forecast 2022-2027 (USD million)
- Exhibit 93: Chart on US - Year-over-year growth 2022-2027 (%)
- Exhibit 94: Data Table on US - Year-over-year growth 2022-2027 (%)
- 9.9 UK - Market size and forecast 2022-2027
- Exhibit 95: Chart on UK - Market size and forecast 2022-2027 (USD million)
- Exhibit 96: Data Table on UK - Market size and forecast 2022-2027 (USD million)
- Exhibit 97: Chart on UK - Year-over-year growth 2022-2027 (%)
- Exhibit 98: Data Table on UK - Year-over-year growth 2022-2027 (%)
- 9.10 Germany - Market size and forecast 2022-2027
- Exhibit 99: Chart on Germany - Market size and forecast 2022-2027 (USD million)
- Exhibit 100: Data Table on Germany - Market size and forecast 2022-2027 (USD million)
- Exhibit 101: Chart on Germany - Year-over-year growth 2022-2027 (%)
- Exhibit 102: Data Table on Germany - Year-over-year growth 2022-2027 (%)
- 9.11 China - Market size and forecast 2022-2027
- Exhibit 103: Chart on China - Market size and forecast 2022-2027 (USD million)
- Exhibit 104: Data Table on China - Market size and forecast 2022-2027 (USD million)
- Exhibit 105: Chart on China - Year-over-year growth 2022-2027 (%)
- Exhibit 106: Data Table on China - Year-over-year growth 2022-2027 (%)
- 9.12 Japan - Market size and forecast 2022-2027
- Exhibit 107: Chart on Japan - Market size and forecast 2022-2027 (USD million)
- Exhibit 108: Data Table on Japan - Market size and forecast 2022-2027 (USD million)
- Exhibit 109: Chart on Japan - Year-over-year growth 2022-2027 (%)
- Exhibit 110: Data Table on Japan - Year-over-year growth 2022-2027 (%)
- 9.13 Market opportunity by geography
- Exhibit 111: Market opportunity by geography (USD million)
- Exhibit 112: Data Tables on Market opportunity by geography (USD million)
10 Drivers, Challenges, and Trends
- 10.1 Market drivers
- 10.2 Market challenges
- 10.3 Impact of drivers and challenges
- Exhibit 113: Impact of drivers and challenges in 2022 and 2027
- 10.4 Market trends
11 Vendor Landscape
- 11.1 Overview
- 11.2 Vendor landscape
- Exhibit 114: Overview on Criticality of inputs and Factors of differentiation
- 11.3 Landscape disruption
- Exhibit 115: Overview on factors of disruption
- 11.4 Industry risks
- Exhibit 116: Impact of key risks on business
12 Vendor Analysis
- 12.1 Vendors covered
- Exhibit 117: Vendors covered
- 12.2 Market positioning of vendors
- Exhibit 118: Matrix on vendor position and classification
- 12.3 Audacy Inc.
- Exhibit 119: Audacy Inc. - Overview
- Exhibit 120: Audacy Inc. - Product / Service
- Exhibit 121: Audacy Inc. - Key offerings
- 12.4 Australian Broadcasting Corp.
- Exhibit 122: Australian Broadcasting Corp. - Overview
- Exhibit 123: Australian Broadcasting Corp. - Product / Service
- Exhibit 124: Australian Broadcasting Corp. - Key offerings
- 12.5 BCE Inc.
- Exhibit 125: BCE Inc. - Overview
- Exhibit 126: BCE Inc. - Product / Service
- Exhibit 127: BCE Inc. - Key offerings
- 12.6 Beasley Broadcast Group Inc.
- Exhibit 128: Beasley Broadcast Group Inc. - Overview
- Exhibit 129: Beasley Broadcast Group Inc. - Business segments
- Exhibit 130: Beasley Broadcast Group Inc. - Key offerings
- Exhibit 131: Beasley Broadcast Group Inc. - Segment focus
- 12.7 Bertelsmann SE and Co. KGaA
- Exhibit 132: Bertelsmann SE and Co. KGaA - Overview
- Exhibit 133: Bertelsmann SE and Co. KGaA - Business segments
- Exhibit 134: Bertelsmann SE and Co. KGaA - Key news
- Exhibit 135: Bertelsmann SE and Co. KGaA - Key offerings
- Exhibit 136: Bertelsmann SE and Co. KGaA - Segment focus
- 12.8 Cox Enterprises Inc.
- Exhibit 137: Cox Enterprises Inc. - Overview
- Exhibit 138: Cox Enterprises Inc. - Product / Service
- Exhibit 139: Cox Enterprises Inc. - Key offerings
- 12.9 Cumulus Media Inc.
- Exhibit 140: Cumulus Media Inc. - Overview
- Exhibit 141: Cumulus Media Inc. - Product / Service
- Exhibit 142: Cumulus Media Inc. - Key offerings
- 12.10 Deseret Management Corp.
- Exhibit 143: Deseret Management Corp. - Overview
- Exhibit 144: Deseret Management Corp. - Product / Service
- Exhibit 145: Deseret Management Corp. - Key offerings
- 12.11 EMMIS Communications Corp.
- Exhibit 146: EMMIS Communications Corp. - Overview
- Exhibit 147: EMMIS Communications Corp. - Product / Service
- Exhibit 148: EMMIS Communications Corp. - Key offerings
- 12.12 Global Media and Entertainment Ltd.
- Exhibit 149: Global Media and Entertainment Ltd. - Overview
- Exhibit 150: Global Media and Entertainment Ltd. - Product / Service
- Exhibit 151: Global Media and Entertainment Ltd. - Key offerings
- 12.13 Heinrich Bauer Verlag KG
- Exhibit 152: Heinrich Bauer Verlag KG - Overview
- Exhibit 153: Heinrich Bauer Verlag KG - Product / Service
- Exhibit 154: Heinrich Bauer Verlag KG - Key offerings
- 12.14 Sirius XM Holdings Inc.
- Exhibit 155: Sirius XM Holdings Inc. - Overview
- Exhibit 156: Sirius XM Holdings Inc. - Business segments
- Exhibit 157: Sirius XM Holdings Inc. - Key offerings
- Exhibit 158: Sirius XM Holdings Inc. - Segment focus
- 12.15 The Walt Disney Co.
- Exhibit 159: The Walt Disney Co. - Overview
- Exhibit 160: The Walt Disney Co. - Business segments
- Exhibit 161: The Walt Disney Co. - Key offerings
- Exhibit 162: The Walt Disney Co. - Segment focus
13 Appendix
- 13.1 Scope of the report
- 13.2 Inclusions and exclusions checklist
- Exhibit 163: Inclusions checklist
- Exhibit 164: Exclusions checklist
- 13.3 Currency conversion rates for USUSD
- Exhibit 165: Currency conversion rates for USUSD
- 13.4 Research methodology
- Exhibit 166: Research methodology
- Exhibit 167: Validation techniques employed for market sizing
- Exhibit 168: Information sources
- 13.5 List of abbreviations
- Exhibit 169: List of abbreviations
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