LONDON--(BUSINESS WIRE)--The global radio market is expected to register a CAGR of almost 3% during the period 2018-2022, according to the latest market research report by Technavio. However, the growth momentum of the market is expected to decelerate due to a decline in the year-over-year growth.
A key factor driving the market’s growth is the access to live music and latest updates. The cost of subscription to most of the radio channels is negligible. The only cost incurred with the radio is the cost of the device, which must be tuned into. However, with the growing use of smartphones all over the world, the additional cost for a separate device is being eliminated.
This market research report on the global radio market 2018-2022 provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio predicts an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights online radio services as one of the key emerging trends in the global radio market:
Global radio market: Online radio services
Online radio streaming is one of the popular platforms for playing radio. Most of the vendors in the current market offer their services over the Internet. There are few radio channels that have merged with online streaming portals and other radio channels, which serve both online radio and streamed music services using the same platform.
“A few major vendors offer both online radio and streaming music services. This gives the users a flexible option in terms of music on demand. The increasing internet penetration and availability of mobile internet will drive the demand for internet radio. This trend is expected to create a positive impact on the global radio market during the forecast period,” says a senior analyst at Technavio for research on publishing and advertising.
Another important trend impacting the growth of the market is curated and personalized music. The Internet provides radio users curated and personalized radio channels and playlists based on their listening habits. This helps the listeners to explore the latest music in the genres of their choice, which are curated based on the music they listen to on a regular basis.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market sizing
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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