Scottsdale, AZ (January 9, 2007)–The conversion from analog radio to digital radio is well under way around the world and gaining momentum rapidly, reports In-Stat. Worldwide, the market for digital radio receivers will grow from 5 million units in 2005, to almost 25 million unit shipments in 2010, the high-tech market research firm says.
“The primary factors contributing to this expected growth are falling receiver prices, an increase in the amount of compelling digital programming, significant boosts in promotion and advertising of digital radio, and enhanced functionality of digital radio receivers,” says Stephanie Ethier, In-Stat analyst. “Overall, digital radio is still an emerging market. Opportunities abound for retailers, broadcasters, automobile OEMs, and receiver manufacturers alike.”
Recent research by In-Stat found the following:
XM will hit 8 million subscribers, and Sirius will hit 6.3 million subscribers, by the end of 2006.
In 2006, 73 percent of respondents to an In-Stat U.S. consumer survey were aware of HD Radio on some level.
In Europe, primarily the United Kingdom, digital audio broadcasting is the pervasive form of radio, with DAB radio receiver shipments outpacing analog radio receiver shipments this year.