Entertainment and music options have diversified in recent times to give way to more accessible and customizable content. Market Research Future, a firm which specializes in market reports related to the Information and Communications Technology sector among others, recently published a report on this market. The industry for internet radio market projected to grow by USD 4 Billion by 2023in revenue, at 18% CAGR between 2017 and 2023.
The Internet Radio Market can be segmented on the basis of software media player, audio format and device support. By software media player segment it includes iTunes, windows media player, winamp, spider player and others. Windows media player offers users with media guide to select latest movies, music, videos, games and radio. It enhances users experience by providing list of available radio stations.
Internet radio refers to web based audio service that is transmitted through internet. It consists of streaming media that features continuous streaming of audio that cannot be paused in between or replayed once the audio is over. The study indicates, internet radio is different from episodic audio series that users can download and listen to it.
According to the study, decreasing cost of streaming, collecting, storing large amount of data and increase in growth of powerful tools is driving the internet radio market. Feasibility of wifi connectivity in home and offices is the major reason driving internet radio market. Entering of new players in music streaming service market is one of the significant factors boosting the internet radio market. Entrance of big players in music streaming industry has led to increase in acquisition rate with niche music streaming players is fueling the market.
The Internet Radio Market is expected to grow at approximately USD 4 Billion by 2023, at 18% of CAGR between 2017 and 2023.
Major Key Players:
• CBS Corporation (U.S.)
• Citadel Broadcasting (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.)
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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.
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.
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Internet Radio market is segmented on the basis of software media player, audio formats and phone support.
Internet Radio Market by Software Media Player:
• Windows Media Player
• Spider Player
Internet Radio Market by Audio Formats:
• AAC Plus
Internet Radio Market by Device Support:
Internet Radio Market by Advertiser Type:
• Travel Airlines
• Hotels & Restaurants
• Rental Services
• Consumer Electronics
• Financial Services
• Media & Entertainment
• Retail Stores
• Food Products
• Computers & Software
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• Investors and consultants
• System Integrators
• Government Organizations
• Research/Consultancy firms
• Technology solution providers
• IT Solution Providers
• Music Streaming Service Providers
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