Report: North America Children Audiobook Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Genre (Action & Adventure, Education & Learning, Fairy Tales & Myths, and Others), Type (One-Time Download and Subscription-Based Model), and Age Group (0–5 Years, 6–8 Years, and 9 Years and Above)
Increase in Demand for Digitalized Learning Among Children Fuels North America Children Audiobook Market Growth
According to the latest market study on “North America Children Audiobook Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Genre, Type, and Age Group,” the North America children audiobook market is expected to reach US$ 651.95 million by 2028 from US$ 95.77 million in 2022, with an estimated CAGR of 31.8%.
There is a rise in digital transformation and integration of advanced technologies such as the Internet of Things (IoT) and Artificial Intelligence (AI), allowing publishers to convert their physically written manuscripts to audio files. In addition, audiences mostly engage with platforms for educational and leisure genres for children. Complex vocabulary, enhanced narrative structure, increased visuals, and other abilities associated with improved reading skills are becoming major factors accelerating digitalized learning among children. In 2021, the Audio Publishers Association (APA), the not-for-profit trade organization of the US audiobook industry, conducted a survey and revealed a double-digit increase in audiobook sales. The 28 member companies reporting to the APA had revenue gains of 25% in 2021, bringing the estimated industry total to US$ 1.6 billion in sales. The number of audiobook titles published in 2021 was nearly 74,000, representing a 6% increase over 2020’s output. Furthermore, there is an increased demand for science fiction and fantasy genres among children, propelling the North America children audiobook market growth.
Furthermore, there is an increasing user base for audiobooks among children, as they help understand language above their reading level and learn new words and advanced constructs. In the early stages of their age (3-5), children may have different listening requirements, accelerating the demand for multiple audiobook purchases. In addition, younger participants contributing to a broader group of peers and people are more likely to listen to titles that guide them or provide an entry point for certain subjects. Moreover, growing penetration rate of smartphones and rising usage of tablets among children promote registrations and subscriptions for audiobooks contribute to the growth of North America children audiobook market. Also, listening and buying audiobooks continues to increase as it helps improve pronunciation and fluency and enable children's critical listening skills. Thus, audiobooks have become more popular in the book industry as they support students’ understanding of letter-sound correspondence and the pronunciation of more difficult words, which is boosting the number of children listener registrations for audiobooks, contributing to the North America children audiobook market growth.
The education & learning genre refers to stories that engage children in an intellectual process of acquiring new skills and knowledge. Audiobooks have traditionally been used for second-language learners, learning-disabled students, and struggling readers or non-readers. In many cases, audiobooks have proven successful in helping these students to access literature and enjoy books. During the COVID-19 pandemic, parents were increasingly adopting education and learning genre audiobooks to keep their children engaged in learning activities due to the prolonged closing of schools. Increased adoption of audiobooks in the education and learning genre during the pandemic fueled the North America children audiobook market growth for the education & learning segment.
Based on genre, the North America children audiobook market is segmented into action & adventure, education & learning, fairy tales & myths, and others. In terms of type, the North America children audiobook market is segmented into one-time download and subscription-based model. Based on age group, the North America children audiobook market is divided into 0–5 years, 6–8 years, and 9 years and above.
Amazon.com Inc., Macmillan Holdings LLC, Deyan Audio Services Inc., Google LLC, Blackstone Audio Inc., Naxos AudioBooks (UK) Ltd., HarperCollins Publishers LLC, Simon & Schuster Inc., Oasis Family Media LLC, and Dreamscape Media LLC are among the key companies profiled in the North America children audiobook market. Several other players are also functioning in the North America children audiobook market, contributing significant revenue shares year-on-year.
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