Market Analysis
The Global Internet Radio Market will touch USD 4 billion and at an 18% CAGR in the forecast period (2020- 2027), states the latest Market Research Future (MRFR) report.
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Global Internet Radio Market is attracting newcomers related to music. Internet radio is affordable and can reach a wide audience. Moreover, as the internet radio works based on internet connectivity, it can be accessed from anywhere. In short, there are no geographical boundaries. As there is no restriction on the region, one can experience the services of the internet radio staff from different cultures. The only drawback of the internet radio is the lack of good network, transmission, and sound quality. The weather conditions may disturb the transmission, and the audio quality will be bad.
Market Segmentation
The internet radio market can be segmented on type, end-user, device support, region, and component. According to the type segment, the internet radio market can be further divided into commercial and non-commercial radios. There are four types of end-users: music artists/DJs, commercial radio broadcasters, religious communities, and audio production companies. According to geography, the internet radio market is divided into North America, Europe, Asia-pacific, and South America. According to the component segment, the internet radio market can be divided into software and services. The software devices are further divided into I tune, windows media player, spider player, etc. According to the device support segment, the internet radio market is divided based on Android, IOS, and windows.
Regional Classification
According to the region segment, North America has the largest share in the internet radio market. It is followed by Asia-pacific, which is progressive. According to the device support segment, android smartphones have the highest share in the internet radio market. The software sector in a component segment has the highest share in the internet radio market.
Industry News
Internet Radio Market is expected to reach USD 17.26 Billion by the end of 2028 at a CAGR of 17.2% from 2021 to 2028. The introduction of a 5G network may increase the internet radio market in the coming future. The adoption of WIFI technology at residences and offices, evolution of connected cars and autonomous vehicles in the automotive sector, decrease in bandwidth cost, and increase in digital platforms are some of the factors that contribute to the internet radio market growth rate.
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