Entertainment & Media Market Growth Rate, Future Scope and Analysis
Posted by shweta raj on March 24th, 2021
Global Entertainment & Media Market Research Report: Information By Type (Wired and Wireless), Application (Books & Magazine, Films & Theatrical, Social Media, Music, Animation, Video Games, Outdoor Advertising, Radio & Broadcasting, Amusement Park/Facilities, Sports, Toys and Arts) and Region (North America, Europe, Asia-Pacific and Rest of the World: Middle East & Africa and South America) - Forecast till 2030
Global Entertainment and Media Market generated a revenue of USD 2,133.4 Billion in 2019 and is expected to reach a market value of USD 5,099.2 Billion by 2030, growing at an 8.6% CAGR.
The increasing popularity of video games and e-sports and the increasing penetration of smartphones are major factors driving the market growth of media and entertainment. However, piracy is the major restraining factor for the market. On the other hand, the development of 5G technology is expected to create a lucrative growth opportunity for the players operating in the global market.
Global Entertainment and Media Market has been segmented based on Type, Application, and Region.
By type, the global entertainment and media market has been segmented into books & magazines, films & theatrical, social media, music, animation, video games, outdoor advertising, radio & broadcasting, amusement park/facilities, sports, toys, and arts. In 2019, the radio and broadcasting segment accounted for the largest market share; it is expected to register a 10.1% CAGR during the forecast period.
Based on type, the global entertainment and media market is segmented into wired and wireless. In 2019, the wired segment accounted for the larger market share; it is expected to register a 5.4% CAGR during the forecast period.
The key players operating in the global entertainment and media market are News Corporation (US), Advance (US), iHeartMedia Inc. (US), Discovery Inc. (US), Warner Media LLC (US), Verizon (US), Alphabet (US), Disney (US), Baidu Inc. (China), Grupo Globo (Brazil), Comcast Corporation (US), Factbook Inc. (US), Bertelsmann SE & Co. KGaA (Germany), Viacom (US), Hasbro (US), and Mattel (US).
The geographic analysis of the Entertainment and Media Market has been conducted for North America, Europe, Asia-Pacific, and the rest of the world.
North America is the major region in terms of market share in the entertainment and media market. The media and entertainment market also generates revenue from strong news broadcasting services offered by various enterprises in the US, Canada, and Mexico. Consumers are widely adopting smartphones, smart devices such as digital assistants, smart speakers, and the Internet for entertainment purposes. North America is expected to witness higher demand for video games, online video streaming services, and books and magazines in the coming years. The future of the media and entertainment market in North America is expected to be driven by the rising adoption of high-speed Internet, cloud storage, digital technologies, social media platforms, and strong distribution of multi-lingual content across the region. Among the countries, the US accounts for the largest market share, followed by Canada and Mexico.
For analysis, Europe has been segmented into the UK, Germany, France, and the rest of Europe. The rising penetration of the Internet across European nations is one of the major factors contributing to the growth of the regional market. Western Europe, which includes countries such as the UK, Germany, Spain, France, and others, is a strong market for radio broadcasters. By delivering a range of quality content to consumers, the media sector contributes heavily towards the European economy and holds immense potential for growth in the coming years. Growing access to the Internet in countries such as Russia, Denmark, Italy, and Sweden drive the video and entertainment industry across this region
For analysis, Asia-Pacific has been divided into China, Japan, South Korea, Australia, India, and Indonesia. China is expected to be the highest revenue-generating country due to heavy investments by the government of the country. The key factor driving the growth of the entertainment and media market in this region is the presence of major media providers and the large population in the countries such as India and China demanding high-quality media content.
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About the Authorshweta raj
Joined: July 2nd, 2020
Articles Posted: 481
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