By 2010 there will be nearly 40 million digital radio receivers in Europe, growing rapidly at a compound annual growth rate (CAGR) of 86.1%, according to a new report by marketing consultancy Eureca Research.
The
European Digital Radio – On A Roll Or Another False Dawn report predicts that the UK will account for 44.2% of total receivers installed by this date.
The market value of digital audio broadcasting products is expected to increase at a CAGR of 40% from 2004-2010 to represent a â‚Ź1.31 billion (£875.7 million) market opportunity for manufacturers by 2010, said the report.
Last month Capital Radio announced the launch of a £5 million joint venture with iTech Dynamic to design, manufacture and market a new breed of digital radios for younger listeners, as part of an initiative to drive the market forward (see Capital To Boost Digital Radio With X-fm Branded Sets).
In April the Digital Radio Development Bureau revealed that digital radio sales had increased by a staggering 229% year on year for the last twelve months and by the end of February 2004, penetration in the UK had pushed to 509,000 units (see Digital Radio Sales Hits Record Number In Last Year).
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