Global Audiobooks Market Overview:
Audiobooks have been used for second language learners, learning disabled students and struggling readers and non-readers. The Audiobooks market comprises one of the major segments of small kids category globally and offers huge potential for growth. As the population is growing, audiobooks are improved the reading and speaking accuracy and fluency of the customers. There has been a significant rise in the number of kindergartens to year 12 population using audiobooks with figure stood up to 27% of auditory learners in global alone in 2018. So, the future for audiobooks looks promising. Moreover, a growing trend in the audiobooks market has been witnessed with respect to the demand for multi-modal learning and reading accuracy expected to fuel the market growth during the forecasted period.
- Increasing Demand for Kindergarten Schools.
- Upsurge Demand for People with Visual Impairments, Dyslexia and Hyperlexia
- Increasing Demand at Asia-Pacific Regions
- Lack of Awareness Among Customers
- Audiobooks Cognitively Reduce Reading Competence
- Growing Number of Educational Organization
- Increasing Demand for Improving Time Management and Multitasking
- High Cost Associated for membership and Subscription.
- Audiobooks are Less Engaging
In Audiobooks market, it has been observed that most of the manufacturing companies are providing high quality smart speakers and screen with latest assistant enabled devices such as Android, IoS and others. It involves in critical listening skills, analysis and judgment. They rely on strategies such as mergers & acquisition, product development, geographical expansion, technological innovation and sourcing strategies to enhance their market share.
Some of the key players profiled in the report are Amazon (United States), Google (United States), Kobo (United States), LibriVox (United States), Downpour (United States), Scribd (United States), OverDrive (United States) and Barnes Noble Booksellers Inc (United States). Analyst at AMA Research see United States Vendors to retain maximum share of Global Audiobooks market by 2025.
Latest Market Insights:
In July 2018, Investment firm KKR acquired Audiobook publisher RB Media. This acquisition is beneficial for the expansion of reading & learning procedures and improving the literacy & accuracy of the learning.
In Jan 2018, Google launched an audiobook with no monthly subscription fee. This innovative product offers on Android, iOS, the web and with Google Assistant-enabled devices like Google Home smart speakers in 45 countries.
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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The top-down and bottom-up approaches are used to estimate and validate the size of the Global Audiobooks market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Audiobooks market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Audiobooks Provider, End-Use Market Participants of Different Segments of Audiobooks, Government and Research Organizations, R&D Institutions and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.