Arbitrary Waveform Generator Market Size Worth $557.8 Million By 2025

The global arbitrary waveform generator market size is expected to reach USD 557.8 million by 2025, registering a CAGR of over 9% from 2019 to 2025, according to a new report by Grand View Research, Inc. The growing number of applications of these generators across numerous end-use sectors is expected to drive the arbitrary waveform generator (AWG) market growth over the forecast period. There has been a considerable rise in the investments and R&D activities carried out in various sectors, including healthcare, telecommunications, and aerospace & defense, which have led to the introduction of sophisticated and technologically advanced equipment. As a result, AWGs are expected to be the standard for the simulation of waveforms owing to the high complexity of electronic systems.

The augmented demand for these generators in the commercial sector can be primarily attributed to the growing popularity of reliable DDS integrated circuits. Users are increasingly preferring these generators over the conventional function generators owing to benefits such as improved performance and cost-effectiveness offered by these generators for computing applications. Additionally, the aerospace & defense and healthcare sectors are witnessing significant investments in the development of advanced equipment, which require sophisticated testing and signal measurement procedures. This is expected to drive the demand for AWGs in these sectors.

Dynamic applicability in the manufacturing and military sectors, along with surging demand from the telecommunications sector, is anticipated to drive the AWG market growth. Various enterprises are shifting their preference from traditional function generators to advanced AWGs owing to their enhanced performance. As a result, the decision-makers in these enterprises are now able to augment the performance throughput of their equipment as per their requirements, in addition to leveraging the benefit of cost-effectiveness.

The rising popularity of new technologies, including EDGE and WiMAX, is poised to further escalate the demand for AWGs. These generators offer numerous benefits, such as higher speed, flexibility, and performance, which are expected to augment the AWG market growth in the next six years. Moreover, in order to ensure optimum flexibility and versatility of these generators, several manufacturers such as Keysight Technologies and Tektronix, Inc. are developing AWG software to allow the generation of standard-compliant waveforms and to offer high-precision testing capabilities.

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https://www.grandviewresearch.com/industry-analysis/arbitrary-waveform-generator-market

Further key findings from the report suggest:

Various wireless communication technologies use AWGs to ensure optimum accuracy, frequency stability, and marginal noise in wireless communication networks
Technologies in the aerospace & defense sector, such as radar, and electronic warfare, require testing to ensure maximum accuracy, flexibility, and scalability
The shifting of manufacturing facilities to developing economies such as China and India, owing to low manufacturing costs, is expected to drive the AWG market growth in APAC region
The prime focus of the arbitrary waveform generator (AWG) market participants is testing and debugging of the communication systems to ensure timely delivery of messages between a device and a hub.

Online Movie Ticketing Services Market Size $28.86 Billion By 2025

The global online movie ticketing services market size is expected to reach USD 28.86 billion by 2025, registering a CAGR of 6.5% over the forecast period, according to a new report by Grand View Research, Inc. Rising disposable income, along with changing customer preference towards online movie bookings, are primarily driving the growth.

Increased efforts made by industry players to make their website interfaces and mobile applications more user-friendly have influenced market growth positively. Service providers are focusing on redesigning their websites and smartphones applications to provide improved features such as select-your-own seat and view-from-seats to improve customer experience. Although online movie ticket sales through PCs currently garner the highest revenue share, bookings made through mobile applications are anticipated to lead the online movie ticketing services market over the forecast period.

North America accounted for the largest market share in 2018 and is expected to retain its dominance over the next six years. This growth is characterized by the evolution of a wide range of ticketing technologies in developed countries, such as U.S. Latin America is expected to witness a substantial growth during the forecast period, due to the shift of users towards digitized form of ticket booking. Asia Pacific is also projected to register high growth over the next six years, accredited to the well-established presence of renowned film industries in the region, which results in audiences thronging to catch a glimpse of their favorite superstars on big screens.

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https://www.grandviewresearch.com/industry-analysis/online-movie-ticketing-services-market

Further key findings from the report suggest:

Mobile segment is anticipated emerge as the fastest growing platform, on account of the increasing adoption of smartphones and utilization of mobile applications to conduct online transactions
Asia Pacific is expected to expand at a CAGR of more than 8% over the next six years due to improved purchasing power of people across developing nations such as India
Key players operating in the online movie ticketing services market include AOL Inc.; Atom Tickets LLC; Bigtree Entertainment Pvt. Ltd.; Cinemark Holdings Inc.; Cineplex Inc.; Fandango; Inox Leisure Ltd.; Movietickets.com; Mtime; and VOX Cinemas
The players are facing tough competition from startups and innovators. To improve their market positions, companies focus on ways of expanding their presence and gaining a competitive edge over the other companies through strategic initiatives such as mergers and acquisitions and collaborative partnerships

Supply Chain Analytics Market Size Worth $9,875.2 Million By 2025

The global supply chain analytics market size is expected to reach USD 9,875.2 million by 2025, registering a CAGR of 16.4% from 2019 to 2025, according to a new study by Grand View Research, Inc. The growing need to manage a large amount of business data and use derived insights is triggering the demand for supply chain analytics. The increasing awareness among enterprises regarding the benefits offered by supply chain analytics is instrumental in accelerating the demand for analytic solutions in order to improve perceptibility levels across the entire supply chain enablers.

Supply chain analytics solutions can help enterprises achieve growth, enhance profitability, and increase market shares by utilizing the derived insights for making strategic decisions. These solutions can also offer a holistic view of the supply chain and help in enhancing sustainability, reducing inventory cost, and accelerating the time-to-market for products in the long run.

Factors such as shortening product life cycles, low supply chain visibility, ineffective supplier networks, elevated warehousing costs, redundant forecasts, and fluctuating customer demands are also necessitating supply chain optimization, thereby driving the growth of the market.

Improved outcomes and cost-effectiveness of the supply chain management resulting from the adoption of supply chain analytics is expected to encourage the adoption of supply chain analytics solutions in various end-use applications, such as retail & consumer goods, healthcare, manufacturing, among others. The ability of supply chain analytics to enable effective and efficient management of end-to-end supply processes is expected to propel the growth of the supply chain analytics solution over the forecast period.

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https://www.grandviewresearch.com/industry-analysis/the-global-supply-chain-analytics-market

Further key findings from the study suggest:

The sales & operations analytics segment generated the highest revenue in 2018 owing to the growing use of machine learning in supply chain analytics solution to dissect and aggregate data and produce predictive, descriptive, and prescriptive insights.
The professional segment is dominate the market and maintain its dominance over the forecast period. The growing automation of professional services due to the adoption of big data and analytics coupled with the increasing demand for improved mobility among service consultants is expected to propel the growth of the segment.
Cloud deployment is anticipated to register the highest CAGR of 17.9% from 2019 to 2025. The cloud-based solutions allow businesses to access data across connected devices at any point which increase scope for customization and enable implementation of analytical tool across multiple business channel.
The large enterprise segment dominated the market in 2018 and is expected to maintain its dominance over the forecast period. This dominance can be attributed to rising demand for robust monitoring solutions and automation capabilities for resource allocation and strategic decision-making.
The high technology product segment is expected to grow at the highest CAGR of 19.7% over the forecast period. This growth can be attributed to increasing demand for advanced technology products and increasing import and export of high technology products worldwide.
North America is expected to continue its dominance the market over the forecast period leveraging the presence of a large number of supply chain analytics service providers in the region.
Accenture PLC, Aera Technology, Birst, Inc., Capgemini SA, Genpact Limited, IBM, JDA Software Group, Inc., Kinaxis, Lockheed Martin Corporation, Maersk Group, and Manhattan Associates, Inc. are some of the key market incumbents of the supply chain analytics market

Predictive Analytics Market Worth $23.9 Billion By 2025

The global predictive analytics market size is expected to be valued at USD 23.9 billion by 2025, registering a CAGR of 23.2% over the forecast period, according to a study conducted by Grand View Research, Inc. Massive data dependence and adoption of advanced technologies such as AI, machine learning, and big data is expected to drive the demand for predictive analytics solutions over the forecast period. These solutions transform collected data into insights; for instance, they detect patterns to determine a suitable course of action. They have also been instrumental in the development of search advertising and recommendation engines. Growing awareness about the importance of available data and its analysis for predicting the future scenario is offering a competitive edge to end users, thereby driving the demand for these solutions.

Key factors driving the demand for predictive analytics solutions are enhanced product usability, adoption of new technologies, massive data deluge, and newer levers of differentiators. In addition, growing need for database management, data warehouses, forecasting, data mining, smart logistics, CRM, and data visualization in dashboards is supporting the growth of the market. These solutions help map the various stages of the buyer journey, which would help organizations adopt suitable marketing campaigns, subsequently leading to higher sales and customer retention. Increasing demand for these solutions from organizations to equip their business functions with analytical capabilities are also expected to drive the growth of the market over the forecast period.

Techniques for implementing predictive analytics include machine learning, deep learning, regression, regression modeling, mathematical, text mining, neural nets, genetic algorithms, clustering, decision trees, and data exploration techniques to gain insights from historical and present data. These techniques are increasingly being adopted by organizations for various applications such as CRM, direct marketing, risk management, portfolio management, fraud detection, underwriting, and credit scoring. These solutions therefore help organizations decide future strategies based on predicted outcomes for enhancing the overall performance in the coming years.

These solutions find applications in various end-use industries such as BFSI, healthcare, retail, manufacturing, government, sports, transportation and travel, IT, energy and utilities, and entertainment. These solutions help manage diversified applications across the aforementioned verticals. For instance, in the manufacturing industry, these solutions can be used for equipment maintenance management, workforce management, and cross-selling and up-selling. Moreover, the IT and telecom industry can adopt these solutions in sales, marketing, and CRM by implementing churn and pricing optimization.

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https://www.grandviewresearch.com/industry-analysis/predictive-analytics-market

Further key findings from the report suggest:

The customer analytics segment is anticipated to gain significant traction over the forecast period, supported by digitalization and positive outlook of the e-commerce sector
Training and consulting services are expected form the fastest-growing segment over the forecast period owing to rising need for experienced employees for decision making based on predictive outcomes
Demand for cloud deployment is likely to increase owing to cost-effectiveness, faster data-processing, and ease in data handling offered by cloud platforms
The small and medium enterprises segment is expected to register a significant CAGR over the forecast period owing to growing need for enhancing operational performance by reducing overall operational costs with the help of these solutions
The retail and e-commerce segment is predicted to witness a remarkable growth over the forecast period owing to increasing internet and smartphone penetration, along with digitalization across the globe
North America dominates the global market owing to technological advancements and presence of players in U.S. Financial funding to new players from venture capitalists is projected to intensify the competition in the market
Prominent players operating in the market include Microsoft Corporation; SAS Institute, Inc.; IBM Corporation; SAP ERP; Siemens AG; NTT Data Corporation; and Tableau Software, Inc.

Heat-not-Burn Market Size Worth $68.3 Billion By 2027

The global heat-not-burn market size is expected to reach USD 68.3 billion by 2027, registering a CAGR of 32.8% from 2020 to 2027, according to a new report by Grand View Research, Inc. The growth is driven by rising demand for Reduced Risk Products (RRPs) as they are considered less harmful to health. The rise in marketing campaigns coupled with growing approvals by the governing bodies such as U.S. Food and Drug Administration (FDA) and other governing bodies from Asia and Europe is anticipated to fuel the heat-not-burn (HNB) device market growth. The growing advertising campaigns, rising number of tobacco shops, and improved marketing strategies are anticipated to create growth opportunities for the market.

The growing purchasing power of consumers is expected to drive the acceptance of heat-not-burn products over the forecast period as these products are marketed as premium products. Leading manufacturers operating in Italy, Germany, U.S., South Africa, and Croatia are involved in product launches with focus on specialty and premium heat-not-burn products. However, numerous countries, such as Uruguay, and Singapore have banned the distribution and sale of heat-not-burn products, which is hindering the heat not burn devices market growth.

The usage of HNB device is believed as an effective technique to quit smoking, as it is less harmful, toxic, and generates vapor instead of smoke. The acceptance of the device is likely to increase, mainly among individuals willing to quit smoking or willing to smoke just for recreation purposes. Hence, the launch of innovative and new heat-not-burn devices, such as IQOS MESH, and PLOOM Tech is expected to increase the popularity of these devices, which would further propel the growth of the market.

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https://www.grandviewresearch.com/industry-analysis/heat-not-burn-market

Further key findings from the report suggest:

The loose-leaf component segment is anticipated to grow rapidly over the forecast period as it is a natural substance offering a superior experience
The online distribution channel is forecasted to witness phenomenal growth, as the vendors are using e-commerce and social media platforms, such as Facebook and Instagram to promote their devices
The newsstand retail store segment is expected to witness the highest CAGR from 2020 to 2027. The newsstands are easily accessible to customers as they are present at every road corner. Hence, they can be considered as ideal locations to vend heat-not-burn devices
The market demand in Europe region is anticipated to grow at a significant rate. This can be attributed to the presence of major manufacturers such as Philips Morris International, Japan Tobacco International, and British American Tobacco in major European countries such as U.K., Italy, Poland, Croatia, and Germany.

Enterprise Video Market Worth $33.72 Billion By 2027

The global enterprise video market size is expected to reach USD 33.72 billion by 2027, registering a CAGR of 11.6% from 2020 to 2027, according to a new study conducted by Grand View Research, Inc. The growing demand from organizations to enhance collaboration between internal and external stakeholders, and maximize customer engagement has resulted in increased adoption of solutions such as video conferencing and webcasting, drive the market growth. The rise in the number of online video viewers is anticipated to provide lucrative opportunities to the market players, as marketers are focusing on the promotion of brands through videos. In 2016, there were about 700 million video viewers, which has risen to 2.6 billion in 2019. The marketers promote brands of their clients through demos, events, explainers, and customer testimonials/case studies, among others. Moreover, proliferation of 4G-enabled mobile devices and rise in the number of Video Conferencing-as-a-Service (VCaaS) providers are expected to contribute to market growth.

The synergy of enterprise video and digital signage has enabled companies to improve brand awareness, product awareness, and customer engagement that is anticipated to drive the growth of the market. The use through signage and kiosks at branch locations is helping banks create differentiation of business strategies and increase customer value, while increasing the promotion and uptake of its products and services such as credit cards and loans, among others. Furthermore, various venture capital firms are providing funding to various start-ups involved in the development of these solutions such as Vbrick, Pexip ASA, and Grabyo, among others, which is impacting the market growth positively. For instance, in June 2018, Morgan Stanley Expansion Capital provided funding worth USD 20 million to Vbrick, a developer and provider of enterprise video software for the corporate sector.

Various companies, such as Microsoft Corporation; IBM; and Cisco Systems, Inc. are emphasizing the development of live streaming applications, which is anticipated to boost the market growth. For instance, in October 2019, IBM launched its IBM Video Streaming platform that allows users to broadcast multiple live-streamed contents. The app offers organizations to take full control over the content including transcription, ingestion, storage, and metadata content management. Governments in response to the outbreak of the COVID-19 pandemic are focusing on providing funds to law enforcement agencies in adopting these solutions for remotely carrying out their operations. For instance, in April 2020 the Ohio Supreme Court announced a funding worth USD 4 million to high courts for purchasing video conferencing systems.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/enterprise-video-market

Further key findings from the study suggest:

The incumbents in the gaming industries such as Rovio Entertainment Corporation; Activision Publishing, Inc.; and Electronic Arts Inc.; are increasingly focusing on the adoption of social media and content sharing platforms for targeting potential customers. This is expected to enhance the growth of the video content management segment
The reduction in costs provided by managed service providers is anticipated to boost the growth of the managed services segment. These services reduce the recurring in-house costs by 30 to 40%
Owing to the growing emphasis of cloud computing companies such as Amazon Web Services, Inc. and Microsoft Corporation on establishing robust security and compliance standards, the cloud segment is anticipated to grow significantly
The marketing and client engagement segment is anticipated to register the highest CAGR on account of the increasing demand for influencers from various advertising and marketing firms
In July 2019, Amazon Web Services, Inc. included Dynamic Adaptive Streaming over HTTP capability in its Amazon Kinesis Video Streams that will enable developers to playback their ingested streams using HTTP-based media streaming protocol. Such initiatives are expected to drive the growth of the adaptive streaming delivery technique segment
The SME segment is anticipated to expand at the highest CAGR over the forecast period on account of increasing adoption of freemium-based solutions such as Zoom Video Communications, Inc.
Various government agencies including the U.S. Department of Health and Healthcare U.K., among others are focusing on holding webcasts such as NYS Health Research Science Board Business Meeting & Public Hearing held in May 2020. It is expected to drive the growth of the healthcare segment

Millimeter Wave Sensors & Modules Market Worth $671.0 Million By 2027

The global millimeter wave sensors and modules market size is estimated to reach USD 671.0 million by 2027, expanding at a CAGR of 37.7% from 2020 to 2027, according to the new report by Grand View Research, Inc. The MMW (millimeter wave) sensors and modules are beneficial in extreme weather and low visibility conditions, such as fog, smoke, thunderstorm. These devices perform relatively better than infrared-based or microwave-based sensor technologies.

The MM wave sensors and modules are extensively used in applications across various sectors, such as military and defense, telecommunication, automotive, security, and healthcare. Increasing demand arriving from all these industrial and commercial sectors is further expected to catapult the market at a considerable pace. The usage of wireless and mobile networking equipment has risen drastically in the last few years. Increasing number of internet-driven applications and solutions is resulting in an augmented need for large amount of data transfer among various devices in the mobile connectivity ecosystem. This is expected to develop high-speed data transfer devices, wherein millimeter-wave modules and sensors are extensively used.

Major application areas of these devices include telecommunication, military and defense, security services, and medical and healthcare. Recent developments and continuous research and progress in the telecom industry are likely to lead to the evolution of the 5G technology.

Millimeter wave sensors and modules are anticipated to play a vital role in the development of fifth-generation technology owing to the need for higher bandwidth. The 5G technology is predicted to emerge in the coming years and the market is likely to witness its significant adoption. Eventually, demand for MMW sensors and modules is expected to boost, thus propelling the overall market growth, particularly across the telecom industry.

Increased government funding and initiatives, coupled with R&D activities carried out by the public and private sectors, are driving the market. E-band frequencies have extensive applications in the telecommunication sector and the segment is anticipated to generate the largest revenue over the forecast period on account of its growing applications in the sector. Therefore, the overall market is poised to witness significant growth over the forecast period.

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https://www.grandviewresearch.com/industry-analysis/millimeter-wave-sensors-modules-market

Further key findings from the study suggest:

North America accounted for the largest market share in 2019 owing to the early adoption of the MMW technology
Based on frequency band, the E-band segment is anticipated to witness the fastest growth over the forecast period owing to its extensive adoption in telecom applications
Asia Pacific is expected to witness the fastest growth over the forecast period owing to growing urbanization and competitive rivalry amongst the telecom service providers for offering superior quality internet and other related services to expand customer base.

Automotive Test Equipment Market Size Worth $3.2 Billion By 2027

The global automotive test equipment market size is expected to reach USD 3.2 billion by 2027, registering a CAGR of 4.5% over the forecast period, according to a new study conducted by Grand View Research, Inc. The market is experiencing substantial growth ascribed to the utilization of electronic components in modern vehicle. Testing tools are used to perform vehicle performance test to ensure maximum vehicle efficiency.

In addition, the equipment is also used for measuring the engine oil consumption, engine wear, clogging of after-treatment systems, lubricant aeration, fuel dilution, and evaporation. Manufacturers are increasingly focusing on implementing safety features in vehicles. Moreover, the rising safety consciousness among the consumers has resulted in stringent need for quality check, thus driving the demand for improved testing tools. All the aforementioned factors are anticipated to drive the market over the forecast period.

Governments across the globe have drafted stringent regulations with objectives of limiting emission from vehicles and to maintain passenger and vehicle safety. Furthermore, the upsurge in the adoption and production of the electric vehicle across the globe is anticipated to surge the demand for advanced testing tools to ensure vehicle performance and passenger safety.

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https://www.grandviewresearch.com/industry-analysis/automotive-test-equipment-market

Further key findings from the report suggest:

The market is driven by the rising demand for safety and comfort features within the vehicle
Increasing production volumes of both commercial and passenger vehicles are anticipated to drive the market by 2027
The Chassis dynamometer segment accounted for highest market share in 2019
The vehicle emission test system segment to witness fastest growth rate by 2027 ascribed to the rising concern regarding the vehicle emission
Handheld scan tools held largest market share in 2019. However, mobile device-based scan tools are expected to account for fastest growth rate owing to ease of handling and ability to detect errors better than handheld tools
Asia Pacific is anticipated to register a fastest growth rate during the forecast period
Growth in the automotive production coupled with high demand for advanced testing tools for vehicles from China and India to catapult market growth.

Revenue Assurance Market Size Worth $8.71 Billion By 2027

The global revenue assurance market size is projected to reach USD 8.71 billion by 2027, expanding at a CAGR of 11.1% from 2020 to 2027, according to a study conducted by Grand View Research, Inc. Revenue assurance is a prime factor that upholds operators’ margins. It mainly focuses on the important areas such as detecting leakage of revenues, correcting, or fixing the issue and then ensuring that changes are made to avoid recurring issues. It is imperative for operators to assess the complete lifecycle of capturing and identifying data leakages and recovering them to prevent revenue loss and establish a building block for fee or income transparency.

The telecommunication industry has undergone a rapid evolution. Technological advancements in regards with artificial intelligence (AI) capabilities, 5G networks, and IoT have mainly been led by the need to offer tailored services and applications effortlessly to users in a pervasive manner. Significant changes are expected to take place in existing telecommunications networks and service infrastructure for offering new and converged services across the heterogeneous access networks to a wide range of end users. For instance, changes in voice calling and networks have exposed many carriers to revenue losses. The deficiency of quality arises from concerns such as call routing across multiple networks. Poor or inadequate call quality compromises the customer experience and revenue is often delayed through inter-carrier differences over fair charges and the service quality delivered. This transformation in itself is a huge challenge for operators since they need to safeguard their unique and evolving infrastructure from fraud and revenue assurance threats.

Growing business complexities are expected to catapult the demand for revenue assurance solutions and services over the forecast period. An increase in complication of networks and services, coupled with rising usage of technology by fraudsters, is also expected to boost the demand for revenue assurance over the forecast period. The revenue streams processes have become complex due to rising number of participants and types of services being offered. Despite the improved technology infrastructure, revenue leakage occurs at several points alongside the revenue flow and are possibly very significant.

Nevertheless, lack of organizational empowerment and shortage of skilled personnel may pose a challenge to market growth. End-use industries often lack their responsibility towards empowering their resources and refuse to spend extra in investing in revenue assurance solutions and services, which is expected to restrain the demand in the years to come. Additionally, with millions of subscribers, a range of new and innovative products, customized solutions, operational support services, including order fulfillment, service configuration, billing, and customer care, are becoming complex. Hence, the cost of handling these operations requires skilled resources, thereby increasing the financial overhead. Lack of emphasis on change frequently leads to severe instances, which have a financial impact like unexpected revenue leakages that affect billing due to changes in the network, particularly if risk management activity is absent or weak. This is further projected to pose a challenge to market growth.

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https://www.grandviewresearch.com/industry-analysis/revenue-assurance-market

Further key findings from the report suggest:

By deployment model, the cloud segment is expected to expand at the fastest CAGR of 13.21% over the forecast period. Owing to rising inclination towards cloud-based solutions, major players in the market are investing in cloud-based applications and are supporting the telecom operators to reduce revenue frauds
Based on end-use vertical, the telecom sector accounted for 35.04% share in 2019 and is expected to witness fastest growth over the coming years as revenue assurance is one of the major concerns affecting the telecom industry worldwide
Asia Pacific is expected to expand at the highest CAGR of 15.1% over the forecast period owing to the high amount of revenue leakages in the region.

Audiobooks Market Size Worth $15.0 Billion By 2027

The global audiobooks market size is expected to reach USD 15.0 billion by 2027, expanding at an estimated CAGR of 24.4% from 2020 to 2027, according to a new report by Grand View Research, Inc. Owing to the flexibility of the audiobooks to cater to the varied audiences, including non-English speaking, physically-abled, multi-taskers, and people who prefer reading over watching television, the market has gained enormous traction over recent years. Furthermore, the technological advancements in publishing industry, such as email distribution of manuscripts, digital editing and the use of smartphones or tablets instead of hard copy scripts, and reduction in distribution costs are some of the other driving factors for this market.

The versatility of audiobooks is anticipated to create opportunities as the target audience is able to listen to the content during commute times and while performing daily chores or along their hobbies. According to an annual survey conducted by Audio Publishers Association (APA) in 2018, 74.0% of people listen to paperback content in their cars during their travel time using in-dash or infotainment systems. Also, the survey determined that the proliferation of smart speakers or personal digital assistants thrives well for the market growth in future.

Furthermore, the emergence of digital transformation technologies is anticipated to likely harness innovations. For instance, key market participants are now incorporating Artificial Intelligence (AI) for recommending personalized results to their users based on their listening history. The other attributes offered by AI, such as automating narrations of recorded contents to upgrade the text-to-speech technologies and creating summaries of files with key takeaways, are likely to propel the market growth during the forecast period.

Furthermore, the ongoing COVID-19 outbreak has led to stringent lockdowns in various countries where most of the people worldwide are maintaining social distancing. Shutting down public libraries and schools indefinitely to reduce community gatherings has majorly impacted the conventional print & publishing industry, thereby benefiting the audiobooks market. On account of the ‘stay-at-home’ orders issued by governments worldwide due to this pandemic, public and private libraries are opting for audio as well as video digital resources, including audiobooks and e-books to ensure the active engagement of their audiences.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/audiobooks-market

Further key findings from the report suggest:

In 2019, fiction genre accounted for over 65.0% of the total revenue share
The kids segment is anticipated to witness the fastest expansion with an expected CAGR of over 25.0% over the next seven years
U.S. and China accounted for the largest revenue share in 2019 and are anticipated to continue their dominance in the market from 2020 to 2027
The subscription-based model is expected to grow at a faster rate as compared to the one-time download model as the one-time tariff system is more expensive