According to Stratistics MRC, the Global Radio Broadcasting market is growing at a CAGR of 3.5%. The growth of emerging markets, advertising at events, and technology developments are driving the market growth. However, factors such as capital-intensive industry are hampering the radio broadcasting market.
Radio broadcasting is a mode of transmission of radio programs through radio waves or audio signals and intended to reach a wide audience. All the radio stations are linked to radio networks to broadcast a common radio format. Another type of radio broadcasting is terrestrial radio broadcasting that includes cable radio, local wire television networks, satellite radio and internet radio.
Based on the types, the broadcast type of radio network likely to have a huge demand as it is a network system which distributes programming to multiple stations simultaneously for the purpose of extending total coverage beyond the limits of a single broadcast signal. The resulting expanded audience for radio programming or information essentially applies the benefits of mass-production to the broadcasting enterprise.
By geography, the radio broadcasting market in Asia pacific is going to have a lucrative growth due to the increasing number of devices connected with the advanced technologies such as the Internet of Things (IoT) and machine-to-machine communication, high consumer base, and major investments by the global players in the region. Trends Market Research