Internet Radio Market Outlook and Opportunities in Grooming Regions with Forecast 2032

Pune, India, April 2020, MRFR Press Release/- Market Research Future has published a Half-Cooked Research Report on the Global Internet Radio Market.

Internet Radio Market Scenario

Market Research Future (MRFR), in its latest report on the internet radio market 2023 reveals that the market can register 16.30% CAGR through 2024 and 2032. The internet radio market value can touch about USD 9.5 Bn by 2032, as per MRFR study. Web based audio services that are transmitted via internet is called as Internet radio. It comprises streaming media, which features continuous streaming of audio. This cannot be paused or replayed after the audio is done. The study by MRFR indicates that due to the growing utility of internet radio owing to rise in episodic audio series that is likely to attract huge audience to listen is expected to boost the expansion of the internet radio market.

As per MRFR study, the decrease in the cost of collecting, streaming, and storage of a large amount of data can result in the growth of powerful tools that can drive the expansion of the internet radio market. The feasibility of Wifi connectivity across home and offices can drive the worldwide internet radio market. The entrance of new players in the field of music streaming service can contribute significantly to the rise of the internet radio market.

Market Segments

The segment study of the internet radio market is based on audio format, software media player, advertiser type and device support. The software media player based segments of the market are windows media player, iTunes, spider player, winamp, and others. The high popularity of Windows media player due to its high media guidance to opt for latest music, movies, games, videos, and radio can bolster the market growth. The improved users experience provided by the availability of radio stations can prompt the rise of internet radio market. The multiple options provided by users after the selection of particular radio stations, plus the provision of information related to these options can impel the expansion of the market in the years to come. The audio formats based segments of the market are WMA, OGG, AAC Plus, and RA. The device based segments of the market are IOS, Android, and Windows. The advertiser type based segments of the market are travel & airlines, computer & software, and rental services.

Regional Analysis

In Asia Pacific, the PCs segment can gain highest revenue for the global market due to increase in tablets and smartphones applications. In North America, the advertiser segment can generates substantial revenue due to high number of internet radio platform. Europe and the Rest of the World are other regional segments of the internet radio market. The presence of prominent internet radio marketers in Europe can bolster the expansion of the world internet radio service market. Europe is likely to follow North America in terms of drivers of the internet radio service market. On the other hand, the internet radio service market in Asia Pacific is expected to rise at a rapid pace due to the development of different various internet radio marketers in the region.

Key Players

MRFR registered some reputed marketers in the world internet radio market. They are; CBS Corporation (U.S.), Spotify (Sweden), Citadel Broadcasting (U.S.), Aspiro AB (Norway), Pandora Media, Inc (U.S.) Chrysalis Group (U.K.), and Napster (U.S.). The entry of big companies in the music streaming industry can led to the rise in the acquisition rate with players those are niche streaming companies. This can fuel the expansion of the internet radio market. MRFR study indicates the decline in the price of internet bandwidth and the rise of 5G network can fuel the expansion of the internet radio market.