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Europe Audiobook Market to Grow by USD 3. 29 Billion (2024-2028), Driven by Reader Engagement and AI Impact on Trends – Technavio Report

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NEW YORK, Oct. 21, 2024 /PRNewswire/ — Report on how AI is redefining market landscape- The audiobook market size in Europe is estimated to grow by USD 3.29 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 26.8%  during the forecast period.  Benefits and reader engagement in audiobooks is driving market growth, with a trend towards growing shift toward subscription-based models in audiobook market in Europe. However, growing threat of copyright infringement in audiobook market in Europe  poses a challenge. Key market players include Alphabet Inc., Amazon.com Inc., Apple Inc., Awesound Inc., Barnes and Noble Booksellers Inc., Bertelsmann SE and Co. KGaA, Blackstone Audio Inc., Lulu Press Inc., News Corp., Nextory AB, Podium Publishing ULC, Rakuten Group Inc., RBmedia, Realm of Possibility Inc., Scribd Inc., Storytel AB, Strathmore Publishing and the Strathmore Studios, Ulverscroft Ltd., Vivendi SE, and W.F. Howes Ltd..

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Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Age Group (Adult and Kids), Genre (Non-fiction
and Fiction), and Geography (Europe)

Region Covered

Europe

Key companies profiled

Alphabet Inc., Amazon.com Inc., Apple Inc.,
Awesound Inc., Barnes and Noble Booksellers
Inc., Bertelsmann SE and Co. KGaA, Blackstone
Audio Inc., Lulu Press Inc., News Corp., Nextory
AB, Podium Publishing ULC, Rakuten Group Inc.,
RBmedia, Realm of Possibility Inc., Scribd Inc.,
Storytel AB, Strathmore Publishing and the
Strathmore Studios, Ulverscroft Ltd., Vivendi SE,
and W.F. Howes Ltd.

Key Market Trends Fueling Growth

The European audiobook market is witnessing a notable transition towards subscription-based models. Services like Audible (an Amazon company) and Storytel are increasingly preferred due to their extensive audiobook libraries accessible through a monthly fee. This model offers consumers an affordable way to listen to a diverse range of titles, leading to more frequent listening and market expansion. Subscription plans allow users to explore various genres without the obligation of buying individual audiobooks, making it an alluring choice for numerous consumers. The emergence of hybrid models that merge subscription services with the option to purchase audiobooks individually caters to a broader audience. As consumer tastes continue to shift, these subscription-based platforms are poised to significantly contribute to the expansion of the European audiobook market throughout the forecast period. 

The European audiobook market is experiencing significant growth due to digital transformation. Audiobooks offer convenience for business professionals and students, allowing continuous learning on-the-go. AI-driven personalized recommendations based on listening history and genre analysis are trending, enhancing the user experience. Professional narrators bring literature to life, making fiction and non-fiction engaging for all. Smartphones and personal digital assistants enable easy access to audiobooks, while subscription-based models offer affordability. Target audiences include commuters, those with visual impairments, and those who prefer auditory learning. Content creators collaborate to expand the audiobook catalogue, offering exclusive content through streaming services like Audible and Spotify. Audio experiences, celebrity- and author-narrated titles, and podcasts are also driving the market. Technology continues to advance, with graph neural networks and AI improving audiobook recommendations. Digital formats are accessible on tablets, audiobook players, and other portable devices, making learning and entertainment more convenient than ever. 

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Market Challenges

The European audiobook market faces a significant challenge from copyright infringement, with piracy and illegal file sharing becoming increasingly prevalent due to the widespread availability of the Internet. This unauthorized duplication of copyrighted content results in substantial revenue losses for publishing houses. Key factors contributing to audiobook piracy include easy Internet access and readily available software for downloading books without payment. The threat of piracy not only negatively impacts the financial health of companies but also discourages creators from investing in the audiobook sector. Consequently, the European audiobook market’s growth may be restrained during the forecast period due to the persistent issue of piracy.The European audiobook market is experiencing significant growth due to the rise of digital media. Companies like Audible lead the way, but streaming services such as Spotify and podcasts also contribute. Exclusive content, audio experiences, and celebrity-narrated titles are popular. Non-fiction genres dominate, with genre analysis and self-improvement/personal development being particularly strong. Technology, including AI narration, text-to-speech technology, and voice assistants, is transforming the industry. Mobile accessibility and free digital content are key drivers, with smartphones and smart home devices facilitating listening on the go. Technological proliferation and commuter preferences boost audiobook sales. Creators engage professional narrators, use sound effects, music, and human narrators for diverse, multicultural content. Serialized content and celebrity-narrated titles continue to attract listeners.

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Segment Overview 

This audiobook market in Europe report extensively covers market segmentation by

Age Group1.1 Adult1.2 KidsGenre 2.1 Non-fiction2.2 FictionGeography 3.1 Europe

1.1 Adult-  The European audiobook market is experiencing steady growth. In 2020, it was valued at €1.5 billion and is projected to reach €2.2 billion by 2026. Consumers prefer audiobooks for convenience and accessibility. Creators are investing in producing high-quality content, and retailers are expanding distribution channels. The market’s growth is driven by increasing smartphone usage, rising literacy rates, and a growing aging population. Audiobooks offer a convenient solution for busy individuals and those with visual impairments.

Download complimentary Sample Report to gain insights into AI’s impact on market dynamics, emerging trends, and future opportunities- including forecast (2024-2028) and historic data (2018 – 2022) 

Research Analysis

The European audiobook market is experiencing a significant digital transformation, with the shift from traditional formats to digital recordings gaining momentum. Audiobooks offer an auditory learning experience, making them an attractive option for business professionals seeking continuous learning on-the-go. Both non-fiction and fiction audiobooks are popular, with literature, self-improvement, and personal development genres leading the charge. Technology plays a pivotal role in the audiobook market, with AI narration and text-to-speech technology becoming increasingly common. Professional narrators continue to provide high-quality recordings, while sound effects and music enhance the listening experience. Visual impairments and commuting are common use cases for audiobooks, making them accessible and convenient for a wide audience. Digital formats, such as MP3 and M4B, are widely used, with smartphones, tablets, and audiobook players providing portable reading solutions. AI personalized recommendations help users discover new titles based on their listening history and preferences. The European audiobook market is expected to grow significantly in the coming years, offering opportunities for both creators and consumers.

Market Research Overview

The European audiobook market is experiencing a significant digital transformation, with the rise of artificial intelligence (AI) and personalized recommendations becoming key drivers. Audiobooks offer an  audio experience, making them popular among business professionals seeking continuous learning and non-fiction readers. The market caters to both fiction and non-fiction genres, with professional narrators bringing literature to life. Digital formats, such as MP3 and M4B, are accessible on smartphones, personal digital assistants, tablets, and audiobook players, enabling portable reading. Subscription-based models, exclusive content, and celebrity- and author-narrated titles are popular offerings. AI and text-to-speech technology, including graph neural networks and listening history analysis, provide personalized recommendations. Audiobooks cater to various target audiences, including those with visual impairments and commuters, and are used for educational purposes. The market includes content creators, streaming services like Audible, Spotify, and podcasts, and technological proliferation, with free digital content and smart home devices adding to its accessibility. Self-improvement and personal development are popular genres, with sound effects, music, and AI narration enhancing the listening experience.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

Age GroupAdultKidsGenreNon-fictionFictionGeographyEurope

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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APA POLL: FUTURE OF NATION, ECONOMY AND PRESIDENTIAL ELECTION TOP U.S. STRESSORS

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Most U.S. adults concerned about political violence, end of democracy

WASHINGTON, Oct. 22, 2024 /PRNewswire/ — More than 7 in 10 adults said the future of the nation (77%) is a significant source of stress in their lives, with the economy (73%) and the 2024 U.S. presidential election (69%) following closely behind, according to the latest Stress in America™ survey released today by the American Psychological Association.

People have faced a political climate that is highly charged, which has led to the erosion of civil discourse.

At the same time, the poll found many common stressors among people with different political party affiliations. The survey was conducted by The Harris Poll on behalf of APA among more than 3,000 U.S. adults age 18+ between Aug. 1 and 23, 2024.

Compared with the previous two U.S. presidential elections, stress related to the election was similar to 2020 (69% vs. 68%) but significantly higher than in 2016 (52%). What sets the 2024 poll apart from previous APA election surveys is the collective stress about the potential fallout from the election results: More than 7 in 10 adults (72%) said they are worried the election results could lead to violence, and more than half of adults (56%) said they believed the 2024 presidential election could be the end of democracy in the U.S. Meanwhile, around a third of adults (32%) said the political climate has caused strain among themselves and their family members, with (30%) who said they limit their time with family because they don’t share the same values.

“For nearly a decade, people have faced a political climate that is highly charged, which has led to the erosion of civil discourse and strained our relationships with our friends and our families. But isolating ourselves from our communities is a recipe for adding more stress to our lives,” said APA CEO Arthur C. Evans Jr., PhD. “We must remember that the most extreme voices are often the loudest, and that the majority of adults share similar values and concerns.”

Stress in America™ 2024: A Nation in Political Turmoil reveals a country where trust has been shaken in the government and in each other. Most adults (54%) reported they have very little to no trust in the U.S. government, and 41% of adults reported the state of the nation has made them consider moving to a different country. Half of adults (50%) said tension around social and political topics makes them less likely to want to connect with other people and around 3 in 10 (28%) said they have nothing in common with people who have different political opinions than they do. More than 2 in 5 adults (46%) wouldn’t date someone who didn’t share the same political opinions (47% of women said this, and 45% of men).

Yet the survey showed commonalities regardless of political party affiliation, with the future of the nation being the stressor that was most commonly rated as significant by Republicans (80%), Democrats (79%) and independents (73%). Further, Republicans, Democrats and independents agreed that the country’s system of checks and balances isn’t working (76% of Republicans, 71% of Democrats and 74% of independents). They also reported being stressed that politicians aren’t talking about the things that are most important to them (62%, 58% and 60%, respectively), and that the political climate has caused strain between them and their family members (32%, 35% and 32%, respectively).

Mis- and disinformation have dialed up the volume on stress, as many adults (73%) reported it is stressful to know how real fake information can look or seem. A strong majority (82%) of U.S. adults were worried that people may be basing their values and opinions on false or inaccurate information.

Despite the pervasive stress about the nation’s future and the fear of violence, this year’s survey showcased how participants are using the political climate as a springboard for activism and driving positive change.  More than three-quarters of adults (77%) said they intend to vote in the presidential election, and half of adults (51%) said they feel more compelled to volunteer or support causes they value — significantly higher than the 45% who said so in 2019 during the lead up to the 2020 presidential election. Diverse communities in particular are being moved to act; 73% of Black adults and 67% of Latino/a/e adults reported feeling that their vote matters.

In addition, 3 in 5 adults reported feeling hopeful about the change this election will bring (61%), and that this election will lead to a more inclusive society (59%). More than 2 in 5 adults (42%) said they haven’t felt this excited about an election in years. Significantly, although Black and Latino/a/e groups and those who identify as LGBTQ reported personal safety as a major stressor (47%, 47% and 50%, respectively), they have remained optimistic; 64% of Black and Latino/a/e adults reported feeling hopeful that the election could mean a more inclusive future.

“Stress surrounding the upcoming election seems overwhelming. But despite concerns about a nation divided across cultural identities and political parties, it’s encouraging that hope could be the catalyst, where people can come together and have a stake in deciding their future,” said Evans. “We see people’s desire for positive change as an opportunity to channel our collective stress into meaningful conversations and actions that promote healing and understanding.”

For more information on the survey findings and helpful resources on how to handle stress, go to www.stressinamerica.org.

METHODOLOGY
The 2024 Stress in America™ survey was conducted online within the United States by The Harris Poll on behalf of the American Psychological Association between Aug. 1–23, 2024, among 3,305 adults ages 18+ who reside in the U.S. that serves as a nationally representative sample. In addition to the national sample, oversamples were collected to allow for subgroup analysis within race/ethnicity groups. Sample sizes across the national and oversamples are as follows: 801 Black, 855 Hispanic and 804 Asian. Interviews were conducted in English and Spanish. Throughout the report, mentions of political parties are defined by those who self-identify as registered voters of the Democratic, Republican, or independent party. A full methodology is available.

The American Psychological Association, in Washington, D.C., is the largest scientific and professional organization representing psychology in the United States. APA’s membership includes over 157,000 researchers, educators, clinicians, consultants and students. Through its divisions in 54 subfields of psychology and affiliations with 60 state, territorial and Canadian provincial associations, APA works to advance the creation, communication and application of psychological knowledge to benefit society and improve people’s lives.

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SOURCE American Psychological Association

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Kerry Logistics Network Wins Cross-border Corporate – Leadership Award at the Standard Chartered Corporate Achievement Awards for Second Year Running

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HONG KONG, Oct. 22, 2024 /PRNewswire/ — Kerry Logistics Network Limited (‘Kerry Logistics Network’, ‘KLN’; Stock Code 0636.HK) has received the Cross-border Corporate – Leadership Award at the Standard Chartered Corporate Achievement Awards (the ‘Awards’) for the second year in a row for its outstanding business performance.

KLN was recognised for its far-reaching global network that spans 60 countries and territories, its resilience and responsiveness in adapting to the changing global logistics environment, as well as its forward-looking strategies that aim to propel the industry into the future. In 2024, when regular sea shipments were subject to prolonged disruptions, KLN made use of its comprehensive Eurasian land freight capabilities and global connectivity to provide innovative freight solutions connecting Asia and Europe. It also boosted its international freight forwarding capabilities worldwide by acquiring a majority stake in Business By Air SAS, a leading French international freight forwarding company serving diverse industrial clients.

Vic Cheung, Executive Director and Chief Executive Officer of Kerry Logistics Network, said, “We are delighted to receive the accolade for the second consecutive year, which is a testament to KLN’s global presence and the role it plays in cross-border trade. During a time when the global logistics market is highly volatile, KLN has been able to ride the waves by leveraging its resilience and agility, providing flexible and cost-effective solutions to its customers. Moving forward, we will continue to expand our geographical coverage to capture more opportunities arising from the shifts in the supply chain, while remaining committed to service excellence, putting our customers first.”

Organised annually by Standard Chartered and co-organised by the Hong Kong Economic Journal, the Awards recognise companies for their achievements in cross-border business, sustainable development, innovative business, and digital transformation.

About Kerry Logistics Network Limited (Stock Code 0636.HK)

Kerry Logistics Network is an Asia-based, global 3PL with a highly diversified business portfolio and extensive coverage in Asia. It offers a broad range of supply chain solutions from integrated logistics, international freight forwarding (air, ocean, road, rail and multimodal) and e-commerce to industrial project logistics and infrastructure investment.

With a global presence across 60 countries and territories, Kerry Logistics Network has established a solid foothold in half of the world’s emerging markets. Its diverse infrastructure, extensive coverage in international gateways and local expertise span across the Mainland of China, India, Southeast Asia, the CIS, Middle East, LATAM and other locations.

Kerry Logistics Network generated a revenue of over HK$47.4 billion in 2023. It is listed on the Hong Kong Stock Exchange and is a constituent of the Hang Seng Corporate Sustainability Benchmark Index.

About Standard Chartered Corporate Achievement Awards

Organised by Standard Chartered with Hong Kong Economic Journal as the co-organiser, the “Standard Chartered Corporate Achievement Awards” aims to recognise corporates with outstanding performance over the past year, in particular in the areas of cross-border business, sustainable development, innovative business and digital transformation, contributing to the economic development. At the same time, the Awards hope to strengthen communication among business elites, promote market growth, and enhance Hong Kong’s competitiveness in an all-round way.

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SOURCE Kerry Logistics Network Limited

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Marintec Innovation Conference 2024 – Charging the Future: Focus on Alternative Energy Sources

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HONG KONG, Oct. 22, 2024 /PRNewswire/ — The maritime industry is on the point of undergoing a radical transformation, and the Marintec Innovation Conference is at the forefront of this evolution, charting a course towards a sustainable, zero-carbon future. While previous conferences have focused on the technological aspects of shipbuilding to meet decarbonisation targets, 2024 will be the year of “Alternative Energy and Fuels Contribute to Low Carbon Maritime”, promising to be a beacon of innovation and collaboration, lighting the way for the industry’s green transition.

Set against the vibrant backdrop of Shanghai, the conference will take place at the Shanghai Renaissance Zhongshan Park Hotel on 12 – 13 December 2024. This event is not just another conference; it’s a convergence of the brightest minds and leading organisations dedicated to pioneering alternative energy sources and low-carbon solutions.

Glimpse into the Future. Envision a world where ships sail the seas powered by renewable energy sources that leave no carbon footprint. This vision is now within reach, thanks to the pioneering discussions and innovations that will be showcased at Marintec Innovation 2024. The conference will feature pivotal sessions such as:

Review and Outlook: Dive into the latest advancements in renewable energy sources and their seamless integration into maritime operations.

Sailing Efficiency – Shipowner’s Perspective: Hear firsthand from leading shipowners about practical strategies to enhance operational efficiency.

Industry Chain Support: Discover the collaborative efforts across the maritime value chain that are driving these innovations forward.

Voices of Innovation. The lineup of speakers reads like a Who’s Who of the maritime world. The conference will feature insights from industry giants like ABB, ABS, the China Association of the National Shipbuilding Industry, CSSC Shanghai Marine Energy Saving Technology, CSSC Silent Electric System (Wuxi) Technology, DNV, Headway Technology, the International Chamber of Shipping (ICS), the International Windship Association (IWSA), Jotun, Kongsberg Digital, Trelleborg Marine Systems, Ulstein, Wikborg Rein Advokatfirma, and many more. Their collective expertise will provide attendees with a unique opportunity to learn from the leading figures in the field.

Collaborative Effort. We are honored to have the support of esteemed organisations such as the China Association of the National Shipbuilding Industry, the China State Shipbuilding Corporation, the Chinese Society of Naval Architects & Marine Engineers, the Norwegian Business Association, and Charity Partner, MercyShips. We would also like to express our gratitude to the Ministry of Foreign Affairs of Denmark, the Danish Export Association, the Norwegian Maritime Exporters, and the UK’s Department of Business and Trade for their valuable support. These collaborations demonstrate a shared commitment to a sustainable maritime future.

Innovation on Display. In addition to the compelling sessions and expert speakers, the event will feature sponsors like Bestway, Shanghai Moury Marine Equipment, Shanghai SIBO Automation, Shanghai Tonghe Marine Equipment, Zhenjiang Tongzhou Propeller, and many others showcasing their cutting-edge innovations. This is set to be one of the most momentous maritime gatherings of the year.

Networking Opportunities. Beyond the sessions, Marintec Innovation 2024 offers networking activities designed to foster collaboration and build lasting connections. Networking Refreshments and Luncheons will provide attendees with the opportunity to engage with industry leaders and peers, while the Closing Dinner will offer a relaxed setting for more in-depth discussion and networking.

Call to Action. The time to act is now. Industry stakeholders must unite and commit to investing in and adopting alternative energy technologies. By working together, we can navigate the challenges and lead the maritime industry into a sustainable, zero-carbon future. This conference is not just an event; it’s a movement towards a greener, cleaner world for future generations.

Join Us. Registration is now open, we encourage industry professionals, researchers, and enthusiasts to register early to secure their spot at this landmark event. For more information and to register, please visit www.marintecchina.com.

Marintec Innovation Conference Background:

Following its inaugural edition in 2017 during Marintec China, the Marintec Innovation Conference will be held in December of even-numbered years at the Shanghai Renaissance Zhongshan Park Hotel. Organised by Informa Markets and SSNAME, Marintec Innovation continues to provide a unique platform for fostering interactions on diverse findings and advancements in the maritime industry through collaboration and knowledge sharing.

Marintec Innovation’s Themes
2017: Cruise Shipbuilding at Marintec China
2018: International Marine Intelligent Energy Efficiency Technology
2020: The Fourth Industrial Revolution at Sea
2022: Defining the Path to Decarbonisation
2024: Alternative Energy and Fuels Contribute To Low-carbon Maritime

Organisers of Marintec China:

Marintec China is organised and managed by Informa Markets and Shanghai Society of Naval Architects & Marine Engineers (SSNAME).

Informa Markets

Informa Markets creates platforms for industries and specialist markets to trade, innovate and grow. Our portfolio is comprised of more than 550 international B2B events and brands in markets including Healthcare & Pharmaceuticals, Infrastructure, Construction & Real Estate, Fashion & Apparel, Hospitality, Food & Beverage, and Health & Nutrition, among others. We provide customers and partners around the globe with opportunities to engage, experience and do business through face-to-face exhibitions, specialist digital content and actionable data solutions. As the world’s leading exhibitions organiser, we bring a diverse range of specialist markets to life, unlocking opportunities and helping them to thrive 365 days of the year. For more information, please visit www.informamarkets.com

Shanghai Society of Naval Architects and Marine Engineers (SSNAME)

Shanghai Society of Naval Architecture and Marine Engineers (SSNAME), founded in early 1951, is the first scientific and technological society in the field of shipbuilding and marine engineering of the People’s Republic of China. SSNAME currently has 5,000 individual members and more than 60 group members. It has 5 working Committees, 11 Specialized Committees and 3 Representative offices. As an important non-governmental scientific and technological society with high reputation and influence in the international field of shipbuilding and marine engineering, SSNAME has been committed to promoting the progress of shipbuilding and marine engineering technology and international exchanges and cooperation. SSNAME has established closely cooperative relations with 14 well-known overseas maritime engineering societies, such as SNAME, RINA, STG, JSNAOE, SNAK and so on. It is the initiator and first chairman of the Pan-Asian Association of Maritime Engineering Societies (PAAMES) and is also a member of the International Standing Committee of the World Maritime Technology Conference (WMTC). The “Xin Yixin Ship and Marine Engineering Science and Technology Innovation Award” founded by SSNAME has become an important award for scientific and technological talents. SSNAME organizes many academic exchanges, popular science and scientific and technological publication every year. For more information, please visit www.ssname.com.cn.

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