Increasing use and emergence of social media and social media platforms has become a game changer for the mobile entertainment market.
According to the current analysis of Introspective Market Research, the global Mobile Entertainment market was valued at USD 124.47 Billion in 2019 and is expected to reach USD 367.69 Billion by the year 2026, at a CAGR of 16.90%.
Mobile entertainment is anything that is accessed from smartphones or any similar device whether it be videos streaming, online gaming, music or advertisement. The service providers comprise of apps, games and other media that can be considered under the category of mobile entertainment. Industry Giants such as Facebook, Google have placed a huge investment on the mobile entertainment and advertisement industry. Mobile advertisement is the most important segment that is emerging in developing as well as the developed countries. The mobile application developing countries are tapping into the mobile entertainment market to generate the company’s revenue. The high demand for the high-definition content and the low cost from the service providers are attracting a lot of audience increasing the market size.
According to the analyst, the improving standardization and increasing disposable income is impacting the mobile entertainment market. Due to the lockdown that has been witnessed across the globe due to the novel corona virus has made an exponential increase on the consumption of the mobile content. The data service providers are launching new policies and different benefits according to lockdown as majority of the population are working from home which has increased the usage of mobile content viewing increasing the growth of the market. Due to the rise in demand for the smartphones, there has been an increase in the demand for the mobile entertainment market. Companies like AT&T have launched their own mobile application services where the consumers can use the platform for video streaming and other things which is generating the revenue for their company.
The Global Mobile Entertainment market is segmented by Application (Mobile Music, Mobile Gaming, Mobile TV, Mobile Personalization, and Others), by Advertisement (Social Media Advertising, Online Video Advertising, Online Search Advertising, Mobile Location Based Advertising, and In-Game Advertising). The market is further analyzed on the basis of regional analysis and divided into major regions like North-America, Latin America, Asia-Pacific, Europe and MEA.
Further Key Findings From The Report Suggest:
- Producers of mobile entertainment have taken a huge interest in the OTT platforms and the VoD platform investing a lot of because of the surge in demand for the same.
- The hectic lifestyle of a large section of corporate individuals has boomed the consumption of mobile entertainment.
- Cost-effective internet schemes and policies among mobile users is one of the drivers as well as an accelerator in the increment of the mobile entertainment market.
- The United States and India are the major producer and consumer for the Mobile Entertainment Market due to the younger generation’s more interest and investment in entertainment industry.
Key Participants include Amazon Inc., apple Inc., AT&T Inc., Electronic arts Inc., Facebook, google LLC, Netflix Inc., Onmobile Global limited, Rovio entertainment corporation, snap Inc., Spotify technology SA, and Tencent holdings limited, Activision Blizzard, Apple, Electronic Arts, Freenet Digital, Google, QuickPlay Media, Rovio International, Alibaba and Many others.
For this report, Introspective Market Research have segmented the Global Mobile Entertainment markets market on the basis of Region:
Regional Outlook (Revenue in USD Billion; Volume in Units, 2019-2025)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
- Latin America
- Rest of LATAM