Audio Books Market size is projected to reach 25.51 billion USD by 2028 from an estimated 5.26 billion USD in 2021, growing at a CAGR of 25.3% globally.
An audiobook or a talking book is referred to as a recording of a book or other work being read out loud. A reading of the complete text is described as unexpurgated, while readings of a shorter version are a synopsis. Spoken audio has been accessible in schools and public libraries and to a lesser extent in music shops since the 1930s. Many spoken word albums were prepared before the age of compact disc, cassettes, and downloadable audio often of poetry and acts rather than books. It was not until the 1980s that the medium started to attract book retailers, and then book retailers began displaying audiobooks on bookshelves rather than in separate displays.
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The global Audio Books Market report provides comprehensive market information, including classifications, definitions, and market analysis. This also helps with the awareness of various item specifics, the manufacturing cycle, the supply chain, and the cost structure. Along these lines, the understanding of the project’s structural squares and key drivers of development is enhanced. To estimate the market size, boundaries such as import and fare, rules in various nations, inflation, legal and political variables, financial elements, and other minor aspects inside organizations have been broken down. The research examines the competitive landscape as well as the most current positions of major rivals in the Audio Books industry.
Segmentation of Audio Books Market: –
- Personal Grooming & Motivational
By Devices Types
- Laptops & Tablets
- Personal Digital Assistants
By Platforms Types
By Distribution Channel
- One-Time Download
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
- Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
- Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
- South America (Brazil, Argentina, Rest of SA)
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Leading Key Players Covered Audio Books Market: –
- Storytel (Sweden)
- Audible Inc. (US)
- co Inc. (US)
- RBmedia (US)
- Playster (US)
- Google Inc. (US)
- LMBPN Publishing LLC (US)
- Rakuten Inc. (Japan)
- iBook’s by Apple Inc. (US)
- Scribd (US)
- LibriVox & Downpour (US)
- OverDrive Inc. (US)
- Hoopla (US)
- SAG-AFTRA (US)
- INGRAM GROUP LLC (US)
- Kobo (Canada) and other major players.
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Covid19 Impact on Audio Books Market
The covid-19 pandemic had generated incredible scenarios. The biggest one had been reading habits changing, with audiobooks applications rising substantially. With the lockdown enclosing people to their homes and restricting the options for outdoor entertainment, many people were exploring audiobooks along with their families. Therefore, it was crucial to understanding this unique increase in these trying times. And for readers, they sure were a boon, primarily in times when one could not visit bookstores or buy online.
Report Includes Competitor’s Landscape:
- Major trends and growth projections by region and country
- Key winning strategies followed by the competitors
- Who are the key competitors in this industry?
- What shall be the potential of this industry over the forecast tenure?
- What are the factors propelling the demand for the Action Figures and Statues?
- What are the opportunities that shall aid in significant proliferation of the market growth?
- What are the regional and country wise regulations that shall either hamper or boost the demand for Action Figures and Statues?
- How has the covid-19 impacted the growth of the market?
- Has the supply chain disruption caused changes in the entire value chain?
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