Podcast Hosting Services Market Growth to be Affected by Consolidation of Leadin

Posted by surendra choudhary on April 1st, 2019

Major players operating in the global podcast hosting services market are Blubrry Podcasting, Podbean, Audioboom, Libsyn, Simplecast, Spreaker, Inc., Fireside Labs, LLC, and Castos.

Podcast hosting is a service that stores audio files on a server and broadcasts it to consumers over the Internet. Podcasts are a primary medium for quality content delivery. Podcast hosting enables people to put an audio or video file from their personal computer, broadcast it online, and distribute it to podcasting platforms such as Stitcher, Google Play, iTunes, and others. The broadcasted digital audio files are then available on the Internet for downloading to a mobile device or computer, usually obtainable as a series, new episodes of which can be received by users regularly.

Podcasts are both mobile and auditory mediums. These can be consumed at times when video files or text messaging are impossible or inconvenient for the consumers. Hence, podcast audio content is more convenient as compared to video or text files. The users can consume audio content while travelling and driving, or during exercise or housework.

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The global podcast hosting services market is expanding at a rapid pace, owing to factors such as rise in acceptance of podcast hosting services and increase in demand for digital content among consumers. This is primarily due to the rapid growth in digital media consumption across the world. Moreover, widespread adoption of on-demand content streaming services and increase in usage of mobile devices and smartphones are the factors expected to propel demand for podcast hosting services across the world during the forecast period.

Podcasts are expected to become one of the major contributors to the global audio market that comprises recorded music, broadcast radio, and on-demand streaming services. Furthermore, the proliferation of connected cars across Android Auto and Apple CarPlay is a key factor expected to boost the growth of podcast hosting services across the globe. Furthermore, platforms such as Amazon’s Alexa and Google Home are anticipated to fuel the growth of the global podcast hosting services market in the next few years. However, less awareness among consumers, specifically in emerging markets, is a major factor anticipated to restrain the global podcast hosting services market in the near future. For instance, only half (49%) of people in the U.S. are aware of podcasting services.

Rapid technological advancements such as smart television, smart watches, and other wearable devices are anticipated to offer significant opportunities in the global podcast hosting services market in the next few years. Podcast services are also expected to present large opportunities for marketers and publishers looking to attract hard-to-reach millennials.

The global podcast hosting services market can be segmented based on application, end-use industry, and region. In terms of application, the market can be divided into marketing, advertising, lead generation, and education. Based on end-use industry, the global podcast hosting services market can be categorized into media & entertainment, government, retail, education, hospitality & travel, science & medicine, and others.

In terms of region, the global podcast hosting services market can be segmented into Europe, South America, Middle East & Africa, North America, and Asia Pacific. The podcast hosting services market in North America is expected to expand at a high CAGR during the forecast period. This is primarily due to rise in awareness about podcasting services among consumers, specifically millennials. This population is likely to spend more time using podcasting services and are aware of podcasting as a content source and media format. However, Asia Pacific is projected to provide lucrative opportunities in the podcast hosting services market in the near future. Rise in adoption of handheld devices such as smartphones and tablets among consumers is the primary factor driving the market in Asia Pacific.