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Podcasting Market Size

Report ID: GMI10254
Published Date: Jul 2024
Report Format: PDF

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Podcasting Market Size

Podcasting Market size was valued at USD 27 billion in 2023 and is estimated to register a CAGR of over 15% between 2024 and 2032. One of the major drivers of the market is increasing utilization of on-demand content. Audiences are seeking more flexible & personalized media experiences; hence podcasts have become popular due to availability and variety of topics.

Podcasting Market

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The widespread adoption of smartphones and the proliferation of streaming services like Spotify, Apple Podcasts, and Google Podcasts have made it easier for users to discover and consume podcast anywhere. Some recent developments, Spotify recently enabled non-hosted podcast creators to upload videos to the platforms for the first time, providing an additional opportunity for engagement and success However, by simply giving voice command, users can listen to their favorite podcast episode without needing to use screen or button.

Podcasting Market Report Attributes
Report Attribute	Details
Base Year:	2023
Podcasting Market Size in 2023:	USD 27 Billion
Forecast Period:	2024-2032
Forecast Period 2024-2032 CAGR:	15%
2032 Value Projection:	USD 100 Billion
Historical Data for:	2021-2023
No. of Pages:	250
Tables, Charts & Figures:	293
Segments covered:	Production Stage, Deployment Model, End Use, Podcast Length
Growth Drivers:	Increasing smartphone penetration Rising demand for on-demand content Proliferation of smart speakers and IoT devices Investments in original content and exclusive deals Monetization opportunities
Pitfalls & Challenges:	Monetization challenges for independent creators Content oversaturation and discoverability issues

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Despite of the rapid growth of the podcasting market, several challenges impede its expansion. one major constraint is the saturation of content, making it difficult for new and emerging podcasters to gain visibility and attract an audience. With millions of podcasts available on various platforms, discoverability remains a significant issue, especially for independent creators without the support of large network.

Authors: Suraj Gujar , Deeksha Vishwakarma

Frequently Asked Questions (FAQ) :

The market size of podcasting reached USD 27.1 billion in 2023 and is set to witness over 15% CAGR between 2024 and 2032, led by the increasing utilization of on-demand content.

The hybrid models segment in the podcasting industry held over 24% share in 2023, due to its ability to be utilized by different companies in different branches of their businesses.

North America market accounted for over 30% share in 2023, attributed to huge investments in advertising, and robust digital infrastructure.

Spotify, Apple Podcasts, Amazon/Audible, Google Podcasts, iHeartMedia, Stitcher, and TuneIn