The global internet radio market is expected to grow at a significant CAGR during the forecast period 2024-2031. An Internet Radio commonly known as web-based audio services mainly transmit via a mode of internet. It includes internet radio technology such as listening, streaming and simulation. The internet radio can be retrieved with the help of broadband connections and if it was closed to router, it can be accessed with the Ethernet cable. Web radio, IP radio, net radio, online radio, e-radio and streaming radio are some additional terms used for internet radio.
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Some of the major market dynamics responsible to drive the growth of the global internet radio market. The increasing adoption of internet radio among the following sectors- Airlines, media & entertainment, hotels & restaurants, insurance and retail stores sectors are projected to drive the market growth. The rising deployment of 4G and 5G networks, reduced streaming cost, enhanced storage capacity with better streaming, the declining cost of internet bandwidth and increasing feasibility of Wi-Fi among offices, homes, public and private sectors are some additional factors that are expected to boost the market .
The rise in the adoption of powerful and advanced tools by the market players drives the global market of internet radio. The market players available globally in the field of the global internet radio market was focusing on several strategies to expand the market trend by introducing innovative technological advancements in their product portfolio. For instance, the rising trends for digitalization in the broadcasting of internet radio with elevated technology are anticipated to create flourishing opportunities for the market during the forecast period. By upgrading the awareness about internet radio, increasing application sectors in a wide area and improving technological features will escalate the growth of the global internet radio market.
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Market Coverage
- Segment Covered-
o By Product Type
o By Application
- Competitive Landscape- Slacker Radio, CBS Corporation, SomaFM, Citadel Broadcasting, Tunein
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominates the market in base year?
- Which segment and region will project fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Internet Radio Market by Segment
By Product Type
o Subscription Service
o Ad-Supported Service
By Application
o Live
o Audio-on-demand
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