Southeast Asia Internet Radio - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2024 - 2029)

The Southeast Asia Internet Radio Market size is estimated at USD 136.40 million in 2024, and is expected to reach USD 267.90 million by 2029, growing at a CAGR of 14.46% during the forecast period (2024-2029).

Key Highlights

• The internet radio market in Southeast Asia is witnessing robust growth, driven by technological advancements, rising internet penetration, and a notable shift in consumer preferences toward technologically advanced products. As traditional media channels face challenges in reaching a broader audience, internet radio emerges as a versatile and accessible platform that caters to the diverse needs of listeners across the region. Hence, Southeast Asian countries are increasingly shifting toward adopting technologically advanced radios.
• For instance, in September 2023, the National Broadcasting and Telecommunications Commission in Thailand announced its plan to transform analog radio stations to digital radio by 2025. With this move, the company deals with 3,500 community radio stations operating on a trial basis with the organization's permission. Such initiatives indicate the growing demand for Internet radio in the region.
• One of the primary drivers of the Southeast Asian internet radio market is its user-friendly connection interface. The market is witnessing strong growth, propelled by rising internet penetration, widespread smartphone adoption, and a rich tapestry of cultural and musical tastes in the region. Notably, the emphasis on creating simple connection interfaces emerges as a key trend, ensuring internet radio's accessibility, improving user experiences, and fueling its adoption on a regional scale.
• As the demand for internet radio grows, companies offering internet radio have started increasing its investments to launch new solutions to increase their market share. For instance, in August 2023, Ericsson announced that the company is manufacturing advanced 5G radio equipment in Malaysia. This equipment, which is being manufactured by the compay will be having Ericsson's renowned lightweight and energy-efficient Massive MIMO antenna-integrated radios, is specifically crafted in acollaboration with Flex.
• Southeast Asia has one of the highest growth rates in smartphone adoption globally. With smartphones becoming more affordable, a significant portion of the population now has access to these devices. Internet radio apps are easily accessible on smartphones, allowing users to listen to their favorite stations on the go. Such new innitatives by the compnanies are expect to continue in the coming years driving the market posetively.

Southeast Asia Internet Radio Market Trends

Growing Adoption of Digital Internet Radio

• With increasing internet penetration and a surge in smartphone adoption, Southeast Asian countries are experiencing a rising demand for digital internet radio. This trend underscores a broader shift toward digital media consumption, with radio included, propelled by technological advancements, evolving consumer preferences, and the content diversity that internet radio services provide.
• The proliferation of smartphones and affordable mobile data plans has been a major catalyst for the rise of digital internet radio in Southeast Asia. Countries like Singapore, Malaysia, Thailand, and Vietnam have seen exponential growth in smartphone usage, providing a robust platform for digital radio services. According to a report published by Google, the size of the internet economy in Southeast Asia is continuously growing every year. In 2015, the internet economy was valued at USD 32 billion, which reached USD 218 billion in 2023 and is expected to reach USD 295 billion in 2025.
• Consumers in Southeast Asia are also increasingly shifting toward the adoption of digital radio. Millennials and generation Z, who make up a significant portion of the region's population, prefer digital platforms for their media consumption. As the demand for internet radio grows, many companies in the region are increasing their investments to increase their market share. For instance, in 2023, Mediacorp, a company based in Singapore, announced that the company is focused toward the expansion of its audio reach to capture 3.8 million listeners weekly. With this, the company said that its free-to-air and digital radio station is the primary choise of listeners.
• Digital internet radio also stands out for its diverse content offerings. Unlike traditional radio, which faces constraints in programming due to time and geography, internet radio breaks these barriers. It opens up a world of global and local content, appealing to a wide range of tastes. This focus on niche content has significantly fueled the rise of digital radio's popularity in the region.

Increasing Use of Internet Radio in Government and Public Safety

• Southeast Asia has experienced a rapid change in the communication landscape, mostly due to the growing advancement of internet technology. In this transition, internet radio has emerged as a crucial tool, especially in the public safety and government sectors. In Southeast Asia, where mobile device use and internet access are rising, internet radio is crucial for public engagement, information exchange, and disaster response planning. Hence, governments in many countries are adopting internet radio.
• Internet radio offers several advantages over traditional communication channels, making it a better option for Southeast Asian government. With the widespread use of smartphones and internet access, internet radio can reach a broad audience, including those in remote or underserved areas. This broad accessibility ensures that crucial information can be disseminated quickly and efficiently.
• Many countries, such as Thailand, Singapore, and Malaysia, are continuously increasing their defense budget, which has driven the adoption of internet radios. Effective communication is critical for operational success, strategic planning, and national security in the defense sector. As Southeast Asia continues to navigate a complex security environment characterized by territorial disputes, transnational threats, and natural disasters, the role of technology in defense has become increasingly significant.
  • For instance, Malaysia is continiously increasing its defence budget every year. In FY 2019, the government spent USD 3.3 billion, which increased to USD 4.0 billion in 2023 and is expected to reach USD 4.9 billion in 2025. Such increases in defence budget has opened opportunities for the sector in the adoption of technologically advanced products, including internet radio.
• Southeast Asia is prone to natural disasters such as typhoons, earthquakes, and floods. Internet radio plays a crucial role in disaster management by providing real-time updates, safety instructions, and evacuation routes to affected populations.

Southeast Asia Internet Radio Industry Overview

The Southeast Asian internet radio market is competitive and has several major players. However, many companies are increasing their market presence by securing new contracts and acquiring other companies. Key companies in the market include Motorola Solutions, Inc., Hytera Communications Corporation Limited, Icom Inc., Kenwood (JVC Kenwood Corporation), and Uniden Corporation. Players are adopting partnerships and acquisitions to enhance their product offerings and gain sustainable competitive advantage.

• November 2023: Hytera Communications announced that it launched an intrinsically safe radio series, including the HP79XEx DMR portable radio and PT890Ex TETRA portable radio. With this launch, the company aims to provide advanced devices that meet stringent IECEX and ATEX requirements for explosion-proof equipment.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

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