Global Astrology Market Report 2023: Sector is Estimated to Reach $22.8 Billion by 2031 at a CAGR of 5.7%

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Dublin, May 23, 2023 (GLOBE NEWSWIRE) -- The "Astrology Market By Type, By Mode, By End User Generation: Global Opportunity Analysis and Industry Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.

According to this report the astrology market was valued at $12.8 billion in 2021, and is estimated to reach $22.8 billion by 2031, growing at a CAGR of 5.7% from 2022 to 2031.

Key Market Players

• AstroGraph Software, Inc.

• CodeYeti Software Solutions Pvt. Ltd.

• Liquid Software Mobile, Inc.

• Appsella LTD

• Jessica Adams Proprietary Limited.

• Ojas Softech Pvt. Ltd.

• Susan Miller Omni Media Inc.

• Horoscope.com, Inc.

• My Path Astrology LLC

• CoStar Astrology Society

• Seattle Astrology

• Adviqo Technology Corp.

• Barges Technologies, Inc.

• Truthstar Future Vision Pvt Ltd.

• Sanctuary Ventures Inc.

• Indianet Consultants LLP

• AstroswamiG Solutions

• The Mountain Astrologer

• Astro-Vision Futuretech Pvt. Ltd.

• Astroyogi

Astrology is now almost universally accepted. We see both highly educated and less educated people wearing multiple rings with colorful gems. There is hardly ever a shortage of clients for practicing astrologers, from footpath foretellers to well-known astrologers. Because astrology has had such a deep impact on people throughout history, people must examine it critically.

People are also visiting astrology websites and contacting astrologers to learn about their post-corona future. Consultations have increased for both independent astrologers and online astrology applications. The pandemic's life-altering conditions have created great uncertainty, making astrology a service to rely on. Statistics show that the number of astrology app downloads has increased dramatically in recent months. Several astrology-based startups have reported 10% to 30% growth, and online applications have surpassed one million downloads on Google Play.

These figures clearly show the abundance of information available online about celestial movements, which has transformed astrology from a devout subculture to a subject so popular that there is room for more misinformation. The actual expertise someone is expected to have when identifying themselves as an astrologer or positioning themselves as an authority on the subject has become somewhat murky as information has proliferated online. As a result, the issue is frequently the accuracy of these online astrologers.

Trained astrologers and specialists have begun to embrace technology in a big way. In addition to online astrology consultation platforms, they also offer solutions to their customers via email or live video conferences. Customers benefit from this because they can get solutions from the comfort of their own homes.

With the advancement of technology, astrologers have begun to use advanced software that reduces prediction time and errors while also providing customized solutions to meet the needs of their clients. Such tools have created a plethora of opportunities for independent astrology practitioners who want to develop astrology apps and expand their business online.

Another major privacy concern when using these apps is data theft. Online astrology applications require a lot of personal information, which is then used for commercial purposes. This reduces the user to a data point in the mystical world of big tech. The apps that advertise ''Free astrology consultation'violate privacy. They generate revenue by selling user data to advertisers. Astrology, on the other hand, cannot be dealt with in binary terms.

These AI-generated horoscopes are no match for a private consultation with an astrologer who examines and deduces the implications of the past and present in order to draw conclusions for the client. Astrology is analogical and symbolic, so it is best approached individually. As a result of data privacy concerns and false predictions, market growth is hampered.

However, as much as astrology has influenced the internet, the internet has also influenced astrology. The world of technology has also brought a ray of hope in these trying times. Personal astrologers have digitalized their business and are now offering consultations via zoom calls, video chats, and live streaming. This has broadened their market and potential customer base. Traditional astrology has now taken a technological turn and is poised to reap maximum benefits.

Market Dynamics

Drivers

• The growth of the internet and technology has significantly expanded the foothold of astrology.

• Younger generation seeking external help

• Rising consumer interest towards astrology

Restraints

• Lack of skilled personnel

• Poor service quality due to budgetary restrictions

• Rising cases of frauds is breaking consumer trust

Opportunities

• Growth of AI & Machine learning

Key Benefits For Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the astrology market analysis from 2021 to 2031 to identify the prevailing astrology market opportunities.

• The market research is offered along with information related to key drivers, restraints, and opportunities.

• Porter's Five Forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.

• In-depth analysis of the astrology market segmentation assists to determine the prevailing market opportunities.

• Major countries in each region are mapped according to their revenue contribution to the global market.

• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.

• The report includes the analysis of the regional as well as global astrology market trends, key players, market segments, application areas, and market growth Strategies.

Key Market Segments

By Type

• Natal Astrology

• Medical Astrology

• Horary Astrology

• Electional Astrology

• Uranian Astrology

• Love Astrology

• Vedic Astrology

By Mode

• Online

• Apps

• Websites

• Offline

By End User Generation

• Gen Z

• Millennials

• Gen X

• Boomers

By Region

• North America

• U.S.

• Canada

• Mexico

• Europe

• UK

• Germany

• France

• Italy

• Sweden

• Spain

• Russia

• Netherlands

• Rest of Europe

• Asia-Pacific

• China

• Japan

• India

• South Korea

• Thailand

• Australia

• New Zealand

• Rest of Asia-Pacific

• LAMEA

• Brazil

• Argentina

• United Arab Emirates

• Saudi Arabia

• South Africa

• Egypt

• Rest of LAMEA

For more information about this report visit https://www.researchandmarkets.com/r/gf1abi

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