Technology Advancement Unfolds Unprecedented Opportunities for the Audio Streaming Services Market

Global audio streaming services are driving market growth through a combination of evolving technologies that offer sophisticated experiences to users.

San Antonio, November 7 2022 /PRNewswire/ — With the evolution of technology and the expansion of high-speed Internet connections, the demand for broadcast services has increased. According to a recent study by Frost & Sullivan; Growth opportunities in global broadcasting servicesThis creates unprecedented opportunities for the audio broadcasting industry. The combination of evolving technologies such as machine learning (ML) and artificial intelligence (AI) will allow users to personalize music, Improve the discovery experience of streaming platforms by offering podcasts and audiobooks. In addition, Accelerated adoption of smart devices is driving growth in the audio-streaming industry, fueling demand for these services and enabling a seamless user experience. This market is expected to grow from $31.35 billion in 2021 to $81.35 billion in 2028. Registering an impressive expansion at a compound annual growth rate (CAGR) of 14.6%.

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“Technology is moving faster than ever. Blockchain, cryptocurrencies, non-disruptive technological advances;Fungal tokens (NFTs); virtual reality; ML and AI open up a world of opportunities for the entertainment industry,” he said. Lara Forlino; ICT Research Analyst at Frost & Sullivan. “Audio streaming providers are already leveraging powerful technologies to develop innovative platform features and create new revenue streams.”

Forlino added, “The rollout of 5G networks and the expansion of high-speed Internet connections allow consumers to stream high-quality audio, which is helping to grow the market. In addition, broadcast service providers increasing investment in content production, such as specialty music segments and original podcasts, further stimulate demand for these services.”

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To capitalize on the growth opportunities of the expanding audio streaming services industry; Market participants should do the following:

  • Invest. Features under development It makes voice consumption more interactive and social.
  • Leverage disruptive technologies. To provide better streaming experiences that maximize the lifetime value of users.
  • Pursue strategic partnerships. To acquire broadcast rights and broadcast sports programs through their platforms.
  • Partner with third-party publishers. social media platforms; To reach a wider audience, such as electronics manufacturers and connected cars.

Growth opportunities in global broadcasting services is the latest product from Frost & Sullivan’s. ICT Research and analytics available through the Frost & Sullivan Leadership Council help organizations identify opportunities for continuous improvement and succeed in the undetectable future.

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About Frost & Sullivan

For more than six decades, Frost & Sullivan has served Fortune 1000 companies; Build sustainable growth strategies for governments and investors. to guide economic changes; We use actionable insights to identify disruptive technologies and create new business models to create innovative growth opportunities that drive future success. Contact us: Start the conversation!

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Source Frost & Sullivan


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