Market Research

Live Audio Streaming Market Growth Scenario with 10.8% of CAGR by 2027 – BoxCaster Pro, Contus, DigiCast, Epiphan Systems, Facebook

Jun 10, 2020 12:48 AM ET
iCrowd Newswire – Jun 10, 2020

In the current scenario, consumer electronic devices are being widely used for accessing digital content of all type, including audio and video. The devices such as smartphones, tablets, and PCs have become an integral part of human lives. The consumption of digital content has been increasing at an exponential rate from the past decade owing to the increasing penetration of smartphones and easy accessibility to internet to world population. The rising digital transformation in various services, ranging from banking and government services to music services, has been a major factor driving the global transition of customers from traditional solutions to digital ones.

The demand for smartphones and other consumer devices is witnessing immense growth in developed as well as developing countries, majorly due to increasing technology advancements and availability of large number of digital services

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The global live audio streaming market is estimated to account US$ 470.2 Mn in 2018 and is expected to grow at a CAGR of 10.8% during the forecast period 2019 – 2027, to account for US$ 1,166.4 Mn by 2027.

The rising disposable income levels and increasing demand for digital content are among the factors driving the growth of live audio streaming services worldwide. The availability of affordable data plans and low-cost smartphones is the major factor that has driven digital content consumption among consumers worldwide.

North America is the economic power house of the world and has continued its legacy for around a century. The regions holds the largest and strongest economy supported by industrial dynamo, thus attracting millions of immigrants looking for better life. Being economically robust the region also attracts several industries to invest their capital in the North American market. Its economic strength also makes it capable of adapting the novel technologies into its ecosystem. This ability of the region enables its businesses to smoothly shift toward the adoption of smartphones is remarkable. The live audio streaming market further capitalizes on the increasing penetration of smartphones in North America.

Top Listed Companies in Live Audio Streaming Market are-

  • Adobe Inc.
  • Bloomberg L.P
  • DaCast
  • Lime Broadcast Group
  • Lineapp GmBH
  • Live365
  • MIXLR Ltd.
  • Muvi LLC
  • SoundCloud
  • Spotify Technology S.A
  • Stream Monster Inc.

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