Market Research Future Insights:

Global Internet Radio Market to Witness Significant Growth by 2030

The global internet radio market is expected to witness significant growth in the coming years, according to a new report by Market Research Future (MRFR). The report states that the market is expected to reach a valuation of USD 9.2 Billion by 2030, growing at a CAGR of 18.20% during the forecast period (2022-2030).

Key Players:

Some of the key players operating in the global internet radio market include Pandora Media Inc., Sirius XM Holdings Inc., TuneIn Inc., iHeartMedia Inc., and Radio.co.

Pandora Media Inc. is a leading internet radio service provider, offering personalized music streaming services to consumers. The company has a strong presence in the North American market, and is focusing on expanding its operations in other regions.

Sirius XM Holdings Inc. is a satellite radio service provider, offering a wide range of radio channels to consumers. The company has a strong presence in the North American market, and is focusing on expanding its operations in other regions.

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The increasing adoption of smartphones and connected devices, coupled with the growing popularity of internet streaming services, is driving the growth of the internet radio market. Moreover, the increasing number of internet users and the availability of high-speed internet connectivity in developing regions are also expected to drive the growth of the market.

Market Segmentation:

The global internet radio market has been segmented on the basis of type, content type, end-user, and region.

Based on type, the market has been segmented into hardware and software. The software segment is expected to dominate the market during the forecast period, owing to the increasing adoption of internet radio apps on smartphones and other connected devices.

Based on content type, the market has been segmented into music, news, sports, and others. The music segment is expected to dominate the market during the forecast period, owing to the growing popularity of music streaming services.

Based on end-user, the market has been segmented into residential and commercial. The residential segment is expected to dominate the market during the forecast period, owing to the increasing adoption of internet radio among consumers.

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Regional Analysis:

The global internet radio market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world.

North America is expected to dominate the market during the forecast period, owing to the presence of a large number of internet radio service providers in the region. Moreover, the increasing adoption of smartphones and connected devices among consumers is also expected to drive the growth of the market in the region.

Asia-Pacific is expected to witness significant growth during the forecast period, owing to the increasing number of internet users in the region. Moreover, the growing popularity of music streaming services in the region is also expected to drive the growth of the market.

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Industry Trends:

The global internet radio market is highly competitive, with a large number of players operating in the market. Some of the key players in the market include Pandora Media Inc., Sirius XM Holdings Inc., TuneIn Inc., iHeartMedia Inc., and Radio.co.

The market is witnessing the entry of new players, owing to the increasing demand for internet radio services among consumers. Moreover, the growing popularity of music streaming services and the increasing adoption of smartphones and connected devices are expected to drive the growth of the market in the coming years.

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