Radio Market Size to Grow by USD 6.57 million | Access to Latest Music and Live Updates to Drive Growth | Technavio

NEW YORK, Jan. 21, 2022 /PRNewswire/ -- The "Radio Market by Platform and Geography - Forecast and Analysis 2021-2025" report by Technavio offers in-depth market analysis. This report by Technavio infers that access to the latest music and live updates is driving this market's growth, resulting in the market growth of USD 6.57 million from 2020 to 2025. 

Attractive Opportunities in Radio Market by Platform and Geography - Forecast and Analysis 2021-2025

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Vendor Landscape

The radio market is concentrated. Vendors are using various organic and inorganic growth strategies to compete in the market.

Australian Broadcasting Corp., Bauer Media Group Inc., BCE Inc., Cox Enterprises Inc., Cumulus Media Inc., Entercom Communications Corp., Global Radio Services Ltd., RTL Group SA, Sirius XM Holdings Inc., and The Walt Disney Co., among others, are some of the few key vendors competing to maintain their market position in the market.

The global radio market comprises some well-established players that are involved in offering radio services to customers across the world. These vendors are making significantly huge investments in marketing to expand their customer base. As the CAGR of the market is expected to remain low during the forecast period, the landscape is expected to remain competitive.

View more about the market's vendor landscape highlights with a comprehensive list of vendors and their offerings.

Key Market Segmentation

  • Segmentation by Platform: 
    • Broadcast radio:
      • This segment is expected to have significant market share growth during the forecast period.
      • Broadcast radio does not require any special device to tune in to. This directly reduces the cost involved in purchasing any device, thus driving the market growth.
    • Online radio
    • Satellite radio

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Regional Market Outlook

North America will contribute to 44% of the market growth during the forecast period. Moreover, market growth in this region will be slower than the growth of the market in APAC and MEA. The growth of this region can be attributed to the inclination of the listeners toward radio news channels. The US is one of the key countries for the radio market in North America.

Download our FREE sample report for more key highlights on the regional market share of most of the above-mentioned countries.

Factors impacting the radio market

The growth of the radio market will be driven by factors such as access to the latest music and live updates. However, online radio services will challenge the market growth during the forecast period. Moreover, one of the trends in the radio market is the availability of music streaming services.

Find additional information about various other market drivers & trends mentioned in our FREE sample report.

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Radio Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 2.65%

Market growth 2021-2025

USD 6.57 million

Market structure

Concentrated

YoY growth (%)

2.49

Regional analysis

North America, Europe, APAC, South America, and MEA

Performing market contribution

North America at 44%

Key consumer countries

US, UK, Germany, China, and Japan

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Australian Broadcasting Corp., Bauer Media Group Inc., BCE Inc., Cox Enterprises Inc., Cumulus Media Inc. , Entercom Communications Corp. , Global Radio Services Ltd., RTL Group SA, Sirius XM Holdings Inc., and The Walt Disney Co.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period,

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

Technavio (PRNewsfoto/Technavio)

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