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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.
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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. |
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