Global Podcast Market
The GMI Research predicts that the Podcast Market will perceive an increase in demand over the forecast period. This is because of the flexibility offered by podcasts to listen while performing other activities and the introduction of AI and block chain technologies.
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Podcast Market Dynamics
Podcasts are online formats and demands less internet speed. The increasing implementation of podcasts for several purposes such as storytelling, interviews, education purpose, talk and music show is the major reason driving the growth of the global podcasting market size. Further, it provides with great substitutes for providing lessons and research content to extend its support, which adds to the market growth. . In addition, International Podcast Association, in 2019, initiated a podcast community to elevate the successfulness and growth of the enterprises providing podcasts. IPA’s secret mission is to expand the lifespan of all the podcasts as well as podcast-based products, which is another factor encouraging the market growth. The accelerating internet penetration, primarily in the Asia Pacific regions has encourages the adoption of podcasts.
Simultaneously, as per a report publicized by the New York City legal body, the nation is accounted as the eye of this industry, gauging for nearly 42.0 million weekly listeners in 2017. As podcasts are acclimatized to follow the new consumption patterns, it will exponentially boom because of the strong demand for readily accessible entertainment content. However, the slow speed of internet and less space for accumulation will restrain the podcast market size.
Type Segment Drivers
The interview is anticipated to lead the overall global podcast market over the forecast period. This format refers to a coordinator wherein the host is constant, and new guests are included as a guest in each episode. The supremacy in interview format is because of the innovativeness of the podcasts where each invitee in every episode provides experiences, fresh thoughts, content, and learnings to involve and inspire individuals.
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GMI Research is a guiding market research and consulting organisation entrusted by some prime organisations for their competitive and market intelligence needs. The main emphasis of our organisation is to help clients handle the most serious business challenges.
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