Entertainment and Media Market Size, Share, Growth, Industry Demand, Trends, Forecast To 2030
- ehteshampeerzade
- Oct 1, 2020
- 3 min read
Market Highlights
Increasing demand for more efficient and faster mobile networks from end-users is estimated to contribute to the overall demand for 5G network connectivity and the development of the same. Moreover, governments in several countries such as India have introduced initiatives like the 5G India Forum (5GIF) to speed up the deployment of 5G network connectivity. Deployment of such technology is expected to speed up the rate of growth for the entertainment and media industry.
The global entertainment and media market is spanned across North America, Europe, Asia-Pacific, and the rest of the world. North America is expected to be the largest market for entertainment and media market, with a significant growth rate during the forecast period. For the purpose of analysis, North America has been categorized into three regions—the US, Canada, and Mexico. During the forecast period, the US is expected to be the leading region in terms of market share, growing at a CAGR of 8.65%, followed by Canada with 9.55% and Mexico with 10.87%.
A rapid growth in the market is attributable to the advancements noted in the digital technologies and the emergence of 5G network connectivity services. The emergence and rapid integration of artificial intelligence is estimated to have a remarkable impact on the gaming sector. This is also causative of consumers demanding enhanced gaming experiences, which in turn, has opened up many expansion avenues for existing and new market players.
However, the global entertainment and media market is expected to witness some friction in growth during the assessment period. Challenges in controlling piracy and proper enforcement of copyright infringement laws is one of the heaviest market restraints for most vendors. The market for entertainment and media is known to witness losses worth billions owing to piracy and illegal file-sharing. Another significant challenge for market vendors is the growing cyberattacks on online platforms which calls for stringent security infrastructure.
Detailed Regional Analysis
The entertainment and media market is studied for the geographical segments of North America, South America, Asia Pacific, Europe, and the Middle East & Africa. Among these regional segments, the global entertainment and media market was led by North America in the base year, which was valued at USD 878.3 billion in 2018. The regional market is also estimated to retain its dominance and register a robust CAGR of 8.84% during the review period.
Europe is anticipated to tread behind North America, garnering the second-largest share of the global entertainment and media market. The regional market was valued at USD 576.5 billion at the beginning of the forecast period and is likely to exhibit a steady CAGR of 9.07% through such forecast period.
Asia Pacific is estimated to witness the highest CAGR of 13.30% during the forecast period. China is likely to lead the country-specific market.
Key Players
Some players profiled in the report include Baidu Inc. (China), News Corporation (US), Advance Publications, Inc. (US), iHeartMedia, Inc. (US), Discovery, Communication Inc. (US), Grupo Globo (Brazil), Warner Media, LLC (US), Verizon Communications Inc. (US), Alphabet Inc. (US), Comcast Corporation (US), Facebook, Inc. (US), Bertelsmann SE & Co. KGaA (Bertelsmann) (Germany), Viacom, Inc. (US), CBS Corporation (US), and The Walt Disney Company (US).
Segmentation:
The global entertainment and media market size has been segmented on the basis of type, application, and region. The market, by type, has been segmented into films and theatrical, music, social media, animation, video games, sports, art, amusement park/ facilities, radio & broadcasting, book & magazines, toys, and outdoor advertising. By application, the global entertainment and media market has been segmented into wired and wireless.
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