The Global Audio Book Market is forecast to reach USD 19.39 Billion by 2027. market is currently observing an enormous growth as many consumers are being inclined to listen to the audible version of books, novels, poetry of different genres. A positive side of consumer behavior has been observed as many book readers are preferring to get rid of the physical form of books & E-books and opting for the audiobooks. Magnificent narrating quality, an entrancing collection of stories, availability of a vast collection of renowned books, incorporating the voice of the legendary personalities, smooth user interface specially designed for the elderly customers, wide availability of the app in various operating system platform, facilitating the indie authors & narrators financially and helping them to produce newer contents are some of the initiatives that are being followed by many players and growing companies in the market.

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Further key findings from the report suggest

• Audible, the largest audiobook publishers in the world owned by Amazon, recently unveiled that they are developing a machine-learning-based transcribed Audible captions for their audiobooks. Audible believed that one of the best ways to engulf the content is to read and listen. This feature would remarkably be helpful for many of their users, as many of them face issues with different accents of a language. In addition to the audible narrations, they could get to read the captions right away.
• Audiobook companies are also focusing on the local content as this is the way they could accumulate plenty of new users who are more inclined to the local content. It’s been observed mostly among the countries to have a majority of multilingual native language speakers. For instance, Audible, in the year 2018, when it launched its business entity in India, included a curated selection of about 400 the company exclusive titles by many well-known authors in the country.
• Last year, Podium Publishing signed contracts with some of the top-level audiobook authors and narrators, namely, Harmon Cooper, Craig Alanson, Richard Fox, Luke Daniels, and R.C. Bray, and covered all the costs of production to set them free to concentrate on providing with the quality content.

Top 10 Companies Operating in the Global Audio Book Market:

Audible, Inc, HarperAudio, Brilliance Audio, Oakhill Publishing, Books on Tape, Scribd Inc., Strathmore Artist Papers, Podium Publishing, Oasis Audio, and Graphic Audio, among others are some of the top players in the market.

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The global market is further segmented into type and application:

Genre Outlook (Revenue: USD Billion; Volume: Million Units; 2017-2027)

• Education
• Fiction
• Biography
• Professional
• Comedy
• Historical
• Romance
• Suspense & Thriller
• Memoir
• Personal Grooming & Motivational
• Miscellaneous

Platform Outlook (Revenue: USD Billion; Volume: Million Units; 2017-2027)

• Website
• Smartphone Application
• Desktop Application
• Others

Age Group Outlook (Revenue: USD Billion; Volume: Million Units; 2017-2027)

• Below 25
• 25 to 34
• 35 to 55
• 56 & Above

End-Use Verticals Outlook (Revenue: USD Billion; Volume: Million Units; 2017-2027)

• Student
• Employed Professional
• Homemaker
• Retirees
• Others

Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.

• North America (U.S., Canada, Mexico)
• Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
• Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
• Latin America (Brazil, Rest of LATAM)
• Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Key Takeaways of the Competitive Overview Section:

• Overview of the company profiles of each market player
• Industrial chain analysis of each player
• Revenue share contribution
• Sales network and distribution channels and net profits and losses of each company
• Key business growth strategies are undertaken by these players

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