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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.

Insights into how AI is reshaping industries and driving growth- Download a Sample Report

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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Technology

Little Lion Entertainment Selects accesso® for Ticketing and Distribution

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TWYFORD, United Kingdom, Oct. 22, 2024 /PRNewswire/ — accesso Technology Group (AIM: ACSO), the premier technology solutions provider for leisure, entertainment and cultural markets is pleased to announce – an agreement with Little Lion Entertainment to provide its accesso Passport® eCommerce ticketing suite and Ingresso ticketing distribution technology to support the operator’s locations starting with The Crystal Maze Live Experience London, The Crystal Maze Live Experience Manchester and Games Arena in Manchester which is currently hosting its first game, Chaos Karts.

With millions of visitors and more than 200 employees in the leisure sector, Little Lion Entertainment is a leading provider of immersive attractions in the UK. Renowned for delivering excellent guest experiences and cutting-edge attractions with international recognition the company is known for high guest satisfaction.

The fully hosted accesso Passport eCommerce ticketing suite helps operators provide their guests with an intuitive and enjoyable eCommerce experience on any device, while driving revenue with up-sell and cross-sell prompts that help ensure guests can plan for their ideal visit. accesso’s ticketing distribution platform, Ingresso, connects operators like Little Lion Entertainment to a global network of third-party distributors to drive increased ticket sales – with potential reach of more than 1 billion new customers – while eliminating long voucher exchange lines at a venue’s entrance by providing guests with real-time live ticket inventory.

“We are thrilled to add Accesso’s solutions into our operations,” said Neil Dolan, Managing Director of Little Lion Entertainment. “By leveraging Passport and Ingresso, we can ensure an even smoother ticketing experience for our guests from start to finish. Our commitment to the guest experience aligns perfectly with Accesso’s advanced technology.”

Nicola Liscio-Heffernan, Sales Director at accesso said, “the excitement of this partnership is fantastic, our implementation team and the key personnel at LLE have really enjoyed the go-live process and we can see a great ‘partnership’ growing already. We have a clear plan going forward to help drive ticket sales, processes and innovation together.”

“The partnership with Little Lion Entertainment is truly exciting, and we’re thrilled to support their mission of delivering extraordinary live entertainment experiences,” said Steve Brown, accesso CEO. “We look forward to driving ticket sales, streamlining processes, and fostering innovation together.”

ABOUT ACCESSO TECHNOLOGY GROUP PLC

accesso is the leading global provider of patented and award-winning technology solutions that redefine the guest experience, drive increased revenue, streamline operations, and support data-driven business decisions for leisure & entertainment operators. Currently serving over 1,200 venues worldwide, accesso invests heavily in research and development to provide venues with technology that empowers them to deliver unforgettable guest experiences. Staffed by a team of attractions and cultural industry veterans, accesso partners with venues to increase their range of on- and off-site guest engagement to drive increased revenue through intuitive ticketing, point-of-sale, virtual queuing, distribution, professional services, and experience management technology. Learn more at accesso.com or follow accesso on X (Twitter) , LinkedIn and Facebook.

ABOUT LITTLE LION ENTERTAINMENT

Little Lion Entertainment is the UK’s premier immersive attractions company, welcoming millions of guests and employing over 300 people in the leisure industry. With two successful Crystal Maze flagships in the UK and a franchise in the Middle East, Little Lion is expanding into new markets with innovative products. The company’s growth is driven by a strong management team, proven financial track record, award-winning experiences, and high customer satisfaction.  Little Lion’s recent acquisition of TEI Games Arenas marks a significant milestone, as TEI has pioneered Live Video-Game attractions with successful launches of Chaos Karts in Manchester (September 2023) and Dubai (April 2024). Additionally, Little Lion has announced a groundbreaking collaboration with Bandai Namco Entertainment to launch PAC-MAN LIVE EXPERIENCE, positioning the company at the forefront of real-life video gaming experiences.  For more information, visit littlelionentertainment.com.

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Minesto takes part in high-level energy transition conference and exhibition, Enlit Europe 2024, in Milan

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GOTHENBURG, Sweden, Oct. 22, 2024 /PRNewswire/ — Minesto is participating in one of the biggest international energy conferences, Enlit Europe 2024 taking place in Milan. The exhibition and conference, hosting 700+ international best-in-class technologies supporting energy transition, is held at Fiera Milano di Rho in Milan, Italy this year from 22 – 24 October. 

The presence of Minesto is strong at Enlit Europe, with CEO Dr Martin Edlund delivering presentations at two sessions on innovation, as well as speaking at the high-level panel session `Next Generation of Renewables’ on how Minesto’s technology contributes to the global energy transition agenda. There will also be a Minesto booth at the exhibition, including a Dragon Class scale model and information about the unique technology.

Minesto’s participation at Enlit Milan aims to establish new relationships and strengthen established partnerships with high-level stakeholders in the energy industry.

Welcome to meet Minesto onsite in Milano, exhibition stand 7.E58.

For program, please see Enlit Europe 22-24 October 2024 – Energy Transition Event

For additional information, please contact:
Cecilia Sernhage, Chief Communications Officer
+46 735 23 71 58
ir@minesto.com

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/minesto-ab/r/minesto-takes-part-in-high-level-energy-transition-conference-and-exhibition–enlit-europe-2024–in-,c4054341

 

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Global survey reveals strong support for BRICS cooperation, expansion

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BEIJING, Oct. 22, 2024 /PRNewswire/ — A news report by chinadiplomacy.org.cn on BRICS cooperation and expansion:

At the BRICS Seminar on Governance & Cultural Exchange Forum 2024 on Sept. 23, Sun Jingxin, vice president of the Academy of Contemporary China and World Studies, unveiled a report on the “Global Survey: BRICS Cooperation in the New Era of Global Development 2024.” The report, part of the academy’s Global Development and Governance Series, draws from a survey conducted in 30 countries across five continents. It gathers views from over 12,000 respondents on BRICS cooperation, focusing on concept consensus, development capacity, global contribution and future prospects in the current global development context.

The survey reveals strong support for China’s three global initiatives among the respondents. Following the BRICS expansion earlier this year, there has been increased recognition of the group’s core values, operating mechanisms, and practices in global governance. Many developing nations have expressed eagerness to join the “BRICS family” and anticipate greater contributions from BRICS cooperation toward building a shared future for mankind.

Below are the key findings of the survey:

1. Global civilization, development and security emerge as key concerns worldwide.

Respondents identified six major issues in global governance that require immediate attention, emphasizing global civilization, development and security. The highest percentages were observed for “respecting the diversity of world civilizations” (94.8%), “promoting economic recovery and development” (94.7%) and “promoting world peace and development” (94.7%). In BRICS countries, “respecting the diversity of world civilizations” and “promoting economic recovery and development” both scored 95%.

2. The Global Development Initiative (GDI) leads international development efforts.

The GDI, proposed by China, has emerged as a significant guide for global development cooperation. Among the 30 surveyed countries, each of the GDI’s core philosophies received an approval rating above 93.6%. “Pursuing innovation-driven development” scored highest at 94.9%, with respondents believing China has provided conceptual guidance and practical solutions for global development. In BRICS countries, “prioritizing development” and “pursuing practical actions” both rated highest at 94.8%, as respondents viewed solidarity and action as key to addressing global development challenges.

3. The Global Security Initiative (GSI) strengthens international security cooperation.

The GSI, committed to maintaining world peace and stability, saw each of its principles score above 94% approval across the 30 surveyed countries. “Respecting the sovereignty and territorial integrity of all countries” received the highest rating at 95.1%. This principle was most approved by BRICS respondents (95.2%) and global youth aged 18-35 (96.1%). Other developing countries rated “paying attention to the legitimate security concerns of all countries” as the highest at 95.7%.

4. The Global Civilization Initiative (GCI) enhances cross-cultural exchanges and learning.

Respondents thought the GCI embodies China’s idea of civilization. They felt it helps countries overcome differences and learn from each other. Each of the GCI’s main components scored an approval rating above 95%, with the highest ratings on “attaching importance to civilization preservation and innovation” and “respecting the diversity of world civilizations.” In addition to approving “attaching importance to civilization preservation and innovation,” BRICS respondents were most supportive of “strengthening international people-to-people exchanges and cooperation,” with an approval rating of 95.3%. Globally, young people aged 18-35 were most in favor of “respecting the diversity of world civilizations,” with a high approval rating of 96.2%.

5. BRICS countries’ governance capacity receives widespread approval.

Respondents from 30 countries approved of the governance capacity of BRICS countries. An average approval rating of 94.7% demonstrates that they believe BRICS countries have good governance capabilities and lay a solid foundation for global development. Approval ratings provided by BRICS respondents and other developing countries were 94.9% and 95.4%, respectively, higher than those of developed countries. The approval rating provided by global young people aged 18-35 (95.8%) was higher than that of other age groups, indicating that the younger generation has greater trust in the governance capacity of BRICS countries.

6. The expansion of BRICS boosts global economic momentum.

After the expansion of BRICS, the share of BRICS countries in the global economy rose to about 36% of world GDP in purchasing power parity terms. Respondents mostly spoke highly of the contribution that BRICS countries made to the world economy and provided an average approval rating of 94.5%, believing that the BRICS mechanism will provide stronger momentum for global economic development. BRICS respondents and global young people aged 18-35 provided the highest ratings, both above 95%.

7. BRICS countries contribute significantly to global development and governance.

Respondents from all 30 countries believed that the BRICS mechanism had made important contributions to promoting global governance, maintaining world peace and stability, improving climate governance, and promoting mutual learning among civilizations, with approval ratings of above 94% in these four fields. BRICS respondents felt this more deeply, with an average approval rating of above 95%.

8. The international community lauds BRICS countries’ growing influence.

With the expansion, the BRICS mechanism is entering an era of “big BRICS cooperation.” Respondents from 30 countries highly praised the international influence of BRICS countries, providing an average approval rating of 94.6%. They believed BRICS countries would achieve greater success on the international stage. Respondents from other developing countries and global young people aged 18-35 felt this more strongly, providing an average rating of more than 95%.

9. Developing countries are eager to join the expanded BRICS group.

The recent BRICS expansion has fostered new solidarity and cooperation among developing countries, attracting more nations eager to join. Respondents from 14 developing countries expressed strong interest in joining BRICS, with an average approval rating of 96.4%. They believed an expanded BRICS would promote a fairer global governance system and amplify the Global South’s voice in international affairs. Pakistan, Kazakhstan, and Serbia showed particularly high approval ratings, each exceeding 97%.

10. The world expects BRICS countries to step up their actions in developing economies and trade, promoting equity and maintaining peace.

Respondents from 30 countries expressed high expectations for BRICS countries in several key areas. They anticipated strong performance in “promoting economic and trade cooperation” (94.8%), “representing the rights and interests of emerging economies and developing countries” (94.6%), and “strengthening political and security cooperation” (94.4%). They believed BRICS nations would collaborate to advance global development and governance. Respondents from BRICS countries and developed nations gave the highest ratings to “promoting economic and trade cooperation,” with approval ratings of 95.5% and 93.8%, respectively. Respondents from other developing countries showed the most interest in seeing BRICS countries excel in “representing the rights and interests of emerging economies and developing countries” (95.3%).

This is the third consecutive year that the Academy of Contemporary China and World Studies and Beijing Dataway Horizon Co., Ltd. have conducted a public opinion survey on global development and BRICS cooperation. The online survey collected data from Beijing Dataway Horizon Co., Ltd. and the European Society for Opinion and Marketing Research’s global resources, following international standards for online surveys.

Survey questionnaires were distributed among 30 countries on five continents: Asia (China, India, Indonesia, UAE, Iran, Thailand, Malaysia, Kazakhstan, Pakistan, Singapore), Europe (Britain, France, Germany, Russia, Greece, Hungary, Serbia), the Americas (U.S., Mexico, Cuba, Brazil, Argentina, Chile, Peru), Africa (Egypt, South Africa, Nigeria, Kenya, Ethiopia) and Oceania (New Zealand).

Respondents were 18 or older and had at least a college degree. The survey collected 12,316 valid questionnaires, with each country submitting an average of more than 400.

Global survey reveals strong support for BRICS cooperation, expansion
http://en.chinadiplomacy.org.cn/2024-10/22/content_117499263.shtml 

 

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SOURCE chinadiplomacy.org.cn

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