Live Audio Streaming Market Strategic Insights by 2031
The live audio streaming market size is projected to reach US$ 1,755.6 million by 2031 from US$ 772.9 million in 2023. The market is expected to register a CAGR of 10.8% in 2023–2031. Rising smartphones and increasing internet penetration are likely to remain key live audio streaming market trends.
Live Audio Streaming Market Analysis
Streaming services leverage sophisticated algorithms and AI to analyze user likes, listening patterns, and situational information, delivering personalized music recommendations that cater to individual preferences. Customized music suggestions and handpicked playlists are crucial in capturing user interest and contentment. This tailored approach enhances user experience and keeps them engaged with the platform.
Live Audio Streaming Market Overview
Live audio streaming is the real-time transmission of audio content over a network connection, enabling immediate playback for the audience. This technology allows for continuous online streaming of sound recordings, such as lectures, podcasts, and music, without the need for downloading. It delivers audio content through an internet connection, offering direct access to streamed content and multiple options for accessing content across different devices. By providing real-time connections and engagement, live streaming has transformed the way global events are experienced, thereby changing our perspective on the world. Additionally, audio streaming platforms present opportunities to generate profits through various monetization models, making it an appealing option for businesses.
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Live Audio Streaming Market: Strategic Insights
Market Size Value in US$ 512.8 Million in 2019 Market Size Value by US$ 1,166.4 Million by 2027 Growth rate CAGR of 10.8% from 2020-2027 Forecast Period 2020-2027 Base Year 2020
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Live Audio Streaming Market: Strategic Insights
| Market Size Value in | US$ 512.8 Million in 2019 |
| Market Size Value by | US$ 1,166.4 Million by 2027 |
| Growth rate | CAGR of 10.8% from 2020-2027 |
| Forecast Period | 2020-2027 |
| Base Year | 2020 |
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Live Audio Streaming Market Drivers and Opportunities
Rising Smartphone and Internet Penetration to Favor Market
The use of smartphones and social media is prevalent in most emerging economies, indicating a global shift towards smartphone usage and internet accessibility. The widespread availability of advanced smartphones and internet connectivity has led to a growing number of users choosing online streaming services. As of January 2024, the number of unique mobile users has reached 5.61 billion, with smartphones constituting approximately 85 percent of the mobile phones in use worldwide. A growing portion of non-broadband users attribute their decision to forgo a high-speed home internet subscription to their reliance on smartphones for various online activities. Cellular data traffic has been consistently on the rise, with the average monthly cellular data consumed by the typical smartphone user worldwide showing significant growth. Mobile internet traffic contributes to nearly 60 percent of total web traffic, signifying the substantial impact of mobile devices on internet usage.
Rise of Subscription-Based Streaming
The trend of consumers choosing paid subscriptions for ad-free music streaming, offline listening, higher audio quality, and exclusive content is on the rise. This trend is influenced by the on-demand economy, where connected consumers are willing to pay for convenience and immediate access to products and services. The ease, affordability, and value proposition offered by subscription models are key drivers of this trend. Subscription models offer consumers convenience and flexibility, while businesses benefit from a continuous stream of revenue and the ability to gather data on customer usage patterns. This data can be utilized to enhance the product or service, aligning with the increasing customer expectations for on-demand access and same-day shipping. All of factors are expected to boost the live audio streaming market growth.
Live Audio Streaming Market Report Segmentation Analysis
Key segments that contributed to the derivation of the live audio streaming market analysis are component, platform, and application.
- Based on component, the market is bifurcated into hardware and software & services. The software & services segment held a significant market share in 2023.
- By platform, the market is segmented into web and mobile. The mobile segment held a substantial share of the market in 2023.
- In terms of application, the market is segmented into enterprise, radio, music concerts & events, personal, and others. The radio segment held a substantial share of the market in 2023.
Live Audio Streaming Market Share Analysis by Geography
The geographic scope of the live audio streaming market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America.
The live audio streaming market in North America has been experiencing substantial growth and is expected to continue to expand in the coming years. The live streaming market in North America is expected to hold a prominent share, characterized by the presence of major technology companies, advanced internet infrastructure, and a large consumer base with high digital connectivity. The widespread accessibility of internet connectivity and the increasing reliance on web browsers for several activities, including browser-based music streaming, contribute to the market's growth in the region.
Live Audio Streaming Market Report Scope
Live Audio Streaming Market News and Recent Developments
The live audio streaming market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market:
- FOX News Audio has expanded its partnership with Audacy to include FOX Weather, FOX News Media’s free, ad-supported streaming television (“FAST”) weather service. Effective November 1, the deal will expand FOX News Audio’s existing relationship with Audacy, which also distributes FOX News Podcasts and the FOX News Talk audio streams.
(Source: FOX News Audio, Company Website, 2024)
Live Audio Streaming Market Report Coverage and Deliverables
The “Live Audio Streaming Market Size and Forecast (2023–2031)” report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Component ; Platform ; Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Frequently Asked Questions
The market was estimated to be US$ 772.9 million in 2023 and is expected to grow at a CAGR of 10.8% during the forecast period 2023 - 2031.
Rising smartphones and increasing internet penetration are the major factors that propel the live audio streaming market.
Technological innovation and advancement are anticipated to play a significant role in the live audio streaming market in the coming years.
The key players in the market are Adobe Inc., Bloomberg LP, DACAST, Lime Broadcast Group, and LINEAPP GmbH.
The market is expected to reach US$ 1,755.6 million by 2031.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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