Audiobooks Market Size, Share & Trends Report

Audiobooks Market Size, Share & Trends Analysis Report By Genre, By Preferred Device (Smartphones, Laptops & Tablets, Personal Digital Assistants), By Distribution Channel, By Target Audience, By Region, And Segment Forecasts, 2023 - 2030

  • Report ID: GVR-4-68038-588-5
  • Number of Pages: 300
  • Format: Electronic (PDF)
  • Historical Range: 2018 - 2020
  • Industry: Technology

Research Methodology

A three-pronged approach was followed for deducing the audiobooks market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for audiobooks market to gather the most reliable and current information possible.

  • We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
  • We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
  • We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
  • We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
  • We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of audiobooks market data depending on the type of information we’re trying to uncover in our research.

  • Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

  • Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

  • Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

  • Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

  • Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

  • Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

  • This step also entails the finalization of the report scope and data representation pattern.

  • Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Audiobooks Market Categorization:

The audiobooks market was categorized into five segments, namely genre (Fiction, Non-Fiction), preferred devices (Smartphones, Laptops & Tablets, Personal Digital Assistants), distribution channel (One-time download, Subscription-Based), target audience (Kids, Adults), and region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa).

Segment Market Methodology:

The audiobooks market was segmented into genre, preferred devices, distribution channel, target audience, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

  • Demand estimation of each product across countries/regions summed up to from the total market.

  • Variable analysis for demand forecast.

  • Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

  • Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

  • Used extensively for new product forecasting or analyzing penetration levels.

  • Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

  • Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

  • This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The audiobooks market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into twenty-three countries, namely, the U.S.; Canada; the UK; Germany; France; Italy; Spain; Russia; Nordic Countries; China; Australia; Japan; India; South Korea; Brazil; Mexico; Argentina; Chile; South Africa; Saudi Arabia; UAE; Egypt; Turkey.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Audiobooks market companies & financials:

The audiobooks market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

  •, Inc. -, Inc. is a multinational technology corporation that offers e-commerce services. The company's operations are divided into three main business segments: North America, international, and Amazon Web Services (AWS). Established in July 1994, its headquarters are located in Seattle, Washington. In addition to its online shopping platform, Amazon provides various services, including servers, storage, networking, remote computer access, email, mobile app development, and security. The company is actively engaged in consumer marketing and subscriptions through its globally-focused websites. On the other hand, AWS specializes in global computer sales, storage, and website hosting and offers various services tailored for beginners, businesses, government agencies, and educational institutions.

  • Apple, Inc. - Apple, Inc. is a renowned American technology company that specializes in electronics, software, and online services. Established in April 1976 in California, U.S., Apple, Inc. has emerged as one of the leading American information technology giants. With a global presence, the company offers an extensive array of products and services, including smartphones, computers, tablets, music players, apparel, home and utility devices, Mac operating systems, iOS, wireless earbuds, battery chargers, electronic accessories, software solutions, iTunes, cloud storage, location services, Apple Music, and Apple Books. Customers can conveniently access audiobooks through Apple Books, where they can purchase and enjoy them on various Apple devices, such as iPads, Macs, and iPods. However, it's important to note that the availability of Apple Audiobooks may vary depending on the country due to regional restrictions on certain applications and features.

  • Audible Inc. - Audible Inc., an American online podcast and audiobook service, operates as a subsidiary of, Inc. This platform enables users to purchase and distribute audiobooks and other spoken-word content. Customers have the option to either subscribe to a monthly plan or make individual purchases, with the added benefit of receiving credit points that can be used to access the extensive content library. Audible stands as a prominent platform, offering a wide selection of the most significant audiobooks worldwide. The key business partners of Audible Inc. include Apple, Inc.,, Creative Labs Inc., SanDisk Corporation, Palm, Inc., and XM Satellite Radio, Inc. In 2008, Audible Inc. was acquired by, Inc. and is headquartered in Newark, New Jersey. Audible,, Audible Listener, and Audible Ready are registered trademarks of Audible, Inc., forming part of the Audible Trademark family, Inc. Notably, many of Audible's books are narrated by talented actors.

  • Barnes & Noble Booksellers, Inc. - Barnes & Noble Booksellers, a prominent bookseller conglomerate, stands as one of the largest retail platforms in the United States. With a vast presence across all 50 states, the company operates 614 retail stores. Its headquarters are situated in New York. Previously, Barnes & Noble managed small B. Dalton Bookseller shops in malls until the decision was made to liquidate the chain. Additionally, the company held a significant role as one of the nation's largest managers of college bookstores, often found near or on various university campuses. In 2015, the bookstore business underwent a separation, resulting in the establishment of a distinct entity known as Barnes & Noble Education. Notably, during the COVID-19 pandemic, the company observed a notable increase in sales of manga and graphic novels.

  • -, a subsidiary of Blackstone Audio, is an American audiobook company established in 2012. Serving as a convenient one-stop shop for audiobooks, caters to a diverse audience that prefers listening to books on the go. The company offers affordable daily download prices and a cost-effective digital rental option. With a vast collection of over 80,000 titles, including a monthly addition of numerous titles, provides a wide selection of contemporary and classic fiction. This collection encompasses renowned literary awards such as Man Booker, PEN/Faulkner, Pulitzer, National Book Award winners, Hugo, and Nobel laureates. The online audiobook streaming application offers various features, including chapter tracking, offline listening, adjustable playback speed (1.25x, 1.5x, and 2x), a built-in sleep timer, and the option to make in-app book purchases or use Downpour Credits for in-app purchases. Users can conveniently bookmark essential sections of a book, take notes, write reviews, and sync their progress across multiple devices.

  • Google LLC - Google LLC, a subsidiary of Alphabet Inc., offers a wide range of products and services. These include search engines, advertising, YouTube, maps, e-commerce, Android, applications, cloud storage, Gmail, Chrome, Google Play, and Google Books. Among these offerings, Google Play Books, previously known as Google eBooks, stands out as a digital eBook distribution service. It is part of the Google Play product line and allows users to download and purchase audiobooks and eBooks. With over five million articles available, Google Play offers a vast library for readers to explore. Users can access these books through the dedicated books section on the Google Play website and the mobile application for Android and iOS. Additionally, select e-readers that support Adobe Digital Editions, reading via Google Home, and web browsers can also be used to enjoy these books. Furthermore, users can download up to 2,000 eBooks in PDF format. Google Play Books and Audiobooks are accessible in 75 countries through the Google Play Books application developed by Google Inc.

  • Playster (Softonic International S.A.) - Playster is a versatile entertainment application that allows users to enjoy a wide range of content, including games, movies, music, and books. With a diverse digital library, Playster offers access to timeless classics and the latest blockbusters, all for free. The application is designed to be user-friendly and can be easily accessed on any web-enabled device. Playster caters to a broad audience, particularly families with varying entertainment preferences, by providing options to watch, play, listen to, and read. Users can explore different genres, stay updated with the latest additions, search using keywords, and choose from a vast selection of music, books, games, and movies. Playster grants unrestricted access to titles from renowned movie studios, publishers, game developers, and music labels worldwide. Developed by Playster Corporation, this application can be found on, a Barcelona-based portal owned by Softonic International S.A., established in 1997.

  • Storytel AB - Storytel AB, a Swedish-based e-book and audiobook subscription service, is accessible in over 25 countries. It stands as one of the leading global platforms for streaming e-books and audiobooks, offering a vast collection of over 500,000 titles for readers and listeners worldwide. Storytel AB operates its streaming services under the Mofibo and Storytel brands. Additionally, Storytel engages in publishing activities through StorySide, a reputable audiobook publisher, and collaborates with renowned Scandinavian publishers like People's Press, Norstedts, and Gummerus.

  • W.F. Howes Ltd. - W.F. Howes Ltd. is an independent publisher of audiobooks. With a vast collection of over 30,000 titles, these audiobooks are narrated by professional actors, award-winning writers, and renowned storytellers. Among their extensive catalog, W.F. Howes offers a wide range of unique titles from best-selling authors and publishers. The company releases approximately 100 new unabridged audiobooks monthly through publications such as Clipper, Jammer, Lamplight, and i-Nudged with Jammer Teen. In addition to audiobooks, W.F. Howes provides other products, including large print books, brochures, order forms, replacement discs, and packaging.

  • Rakuten Group, Inc. (Rakuten Kobo Inc.) - Rakuten Kobo Inc., a Canadian company, specializes in the sale of e-readers, ebooks, tablet PC systems, and audiobooks. Its headquarters are in Toronto, Ontario, and it operates as a subsidiary of Rakuten, a prominent Japanese e-commerce conglomerate. In December 2009, the company underwent a rebranding by Indigo, adopting the name Kobo and transitioning into a privately owned entity. Indigo remains the majority shareholder, while other stakeholders include Borders Group, Cheung Kong Holdings, and RED Group Retail. Presently, Rakuten Kobo Inc. has established its presence in more than 40 countries across the globe. Notably, in 2021, the company reached an agreement with Leya, a Portuguese publishing organization, and introduced Kobo Plus in LeYa, ensuring content availability in Portugal.

Value chain-based sizing & forecasting

Supply Side Estimates

  • Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

  • Segment revenue determination via variable analysis and penetration modeling.

  • Competitive benchmarking to identify market leaders and their collective revenue shares.

  • Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

  • Identifying parent markets and ancillary markets

  • Segment penetration analysis to obtain pertinent

  • revenue/volume

  • Heuristic forecasting with the help of subject matter experts

  • Forecasting via variable analysis

Audiobooks Market Report Objectives:

  • Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

  • Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

  • Understanding market estimates and forecasts (with the base year as 2022, historic information from 2018 to 2020, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Audiobooks Market Report Assumptions:

  • The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

  • The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

  • We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

  • All market estimates and forecasts have been validated through primary interviews with the key industry participants.

  • Inflation has not been accounted for to estimate and forecast the market.

  • Numbers may not add up due to rounding off.

  • Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

  • Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

  • Latin America includes Central American countries and the South American continent

  • Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

  • Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

  • Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.

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