Internet Radio Market, By Software Media Player (Spider Player, Winamp), By Audio Formats (OGG, WMA, RA, AAC Plus), By Phone Support (Android, IOS, Windows), By Advertiser Type (Computer & Software, Travel & Airlines, Rental Services) – Forecast 2023
On the basis of regional analysis the market is segmented into North America, Europe, Asia-Pacific and Rest of the World. North America region is generating highest market share in the internet radio market owing to better network infrastructure, digitization and higher technology implementation. Digitization in North America is mainly due to the invention of advanced technology and economies benefitting from it. North America region is leading due to presence of major players from the region in the internet radio market. The adoption of internet radio service by both small and medium enterprises for advertising purpose is increasing rapidly, especially one into finance. The internet radio is gaining demand due to availability of wifi connectivity at public places and increased popularity of streaming music is boosting the market in the region.
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Internet Radio Market Segmentation
The internet radio market has been segmented on the basis of advertiser type that includes insurance, travels & airlines, rental services, restaurants and others. The revenue of internet radio market in North America region is generated mainly through subscription and advertising. Pandora internet radio is the most popular internet radio service in the region. The internet radio in the North America region enables users by providing various music channels along with few news channel.
The prominent players in the internet radio market are-
- CBS Corporation (U.S.)
- Citadel Broadcasting Corporation (U.S.)
- Chrysalis Group (U.K.)
- Spotify (Sweden)
- Aspiro AB (Norway)
- Pandora Media, Inc (U.S.)
- Napster (U.S.)
- Tunein (U.S.)
- Somafm (U.S.)
- Slacker Radio (U.S.)
Market Research Analysis:
The internet radio market in North America region is growing due to high adoption of laptops and smartphones by citizen. According to the study, the internet radio market will show a considerable growth in Europe region. Asia-Pacific market is estimated to be one of the fastest growing market as it is continuously investing into research and development of internet radio market and growing popularity of music streaming industry is fueling the growth in the region. Increasing population, and growing IT landscape is boosting the market in the region. The region is witnessing high adoption of internet radio service advertising purpose. Developing countries such as India and China are adopting internet radio service at a large scale owing to increase population and robust industrialization is boosting the market in the region. By advertiser segment, finance and retail sector is driving the internet radio market. The region is witnessing high growth in internet radio market due to growing technological advancement in cloud, analytics and mobile technologies.
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Study Objectives of Internet Radio Market:
- To provide detailed analysis of the market structure along with forecast of the various segments and sub-segments of the internet radio market.
- To provide insights about factors affecting the market growth.
- To analyze the internet radio market based porter’s five force analysis etc.
- To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, Asia, and Rest of the World (ROW).
- To provide country level analysis of the market with respect to the current market size and future prospective.
- To provide country level analysis of the market for segment on the basis of software media player, audio format, device support and advertiser type.
- To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market.
- To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the internet radio market.
The regional analysis of internet radio market is being studied for region such as Asia Pacific, North America, Europe and Rest of the World. North America is one of the leading player in the internet radio market owing to major internet radio service providers present in the region followed by Europe. Asia-Pacific region is fastest growing region in the internet radio market owing to increased internet usage in residential and commercial sector and emergence of major players from the region in the music streaming industry.
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