Scottsdale, AZ - Jan 2, 2007 – Research firm In-stat says that the conversion from analog radio to digital radio is well under way around the world and gaining momentum rapidly. According to recent research from the company, the worldwide market for digital radio receivers will grow from 5 million units in 2005, to almost 25 million unit shipments in 2010.
The study, More Consumers to Tune Into Digital Radio in 2007, cites the primary factors of the 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. The report also notes that digital radio is still an emerging market with opportunities for retailers, broadcasters, automobile OEMs and receiver manufacturers.
In-stat notes that in 2006, 73 percent of respondents to an In-Stat U.S. consumer survey were aware of HD Radio on some level. In-stat also notes that digital radio is outpacing analog radio in Europe and especially in the United Kingdom.