The audiobook market is expected to experience a remarkable surge in the coming years, as the report from Market Us shows.
The audiobook market is poised for continued growth. With the rise of smart speakers and the growing popularity of podcasts, audiobooks are well-positioned to become an even more integral part of our lives.
Market Us has just released a report that shows that the global audiobook market will reach an estimated USD 39.1 billion by 2032 from USD 4.2 billion in 2022.
North America was the market leader in 2022, driven by the widespread availability of digital devices and the popularity of subscription-based services, such as Audible, Apple Books, or Scribd.
However, Asia Pacific is expected to be the fastest-growing region, “with increasing smartphone adoption and a growing interest in English-language content.”
The non-fiction segment accounted for the largest revenue share in audiobooks market in 2022.
💬 Self-help and personal development audiobooks continue to be popular, along with business and finance audiobooks for professionals.
Adults constitute the major target audience, utilizing audiobooks for entertainment during commutes or multitasking activities.
This incredible growth of the audiobook market is driven by the increasing popularity of digital media, the convenience of smartphones, and the growing trend of consuming content on the go.
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