INTERNET RADIO MARKET
Radio is an all-time entertainment system. It provides relaxation, comfort, and community. Listening to music has always made an individual happy. Due to technological improvement, the latest version of radio services is updated to internet radio. It is also known as digital audio service, web radio, online radio, IP radio, net radio, e-radio, streaming radio. This radio works through internet transmission. In short, an internet radio consists of internet radio technology (listening, simulation, and streaming). The streaming media permits a continuous flow of audio that cannot be handled manually, i.e., paused in between, or replay the audio once it is over. This radio can be accessed online through a broadband connection or ethernet cable, provided the radio is placed near the router. The advancement in technologies has brought a revolution, and the global internet radio market has experienced an increase.
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Market Segmentation
The Internet Radio Market Share 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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