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Entertainment and Media Market 2020-2030: Global Business Growth, Size and Forecast

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Sep 28, 2020 (AmericaNewsHour) -- Global Entertainment and Media Market Research Report: by Type (Amusement Park/Facilities, Animation, Book & Magazine,Films and Theatrical, Outdoor Advertising, Radio and Broadcasting), by Application (Wired, Wireless), and by Region (North America, Asia-Pacific, Europe, and Rest of the World)--Forecast to 2030

Market Snapshot

The global entertainment and media market is expected to grow at a 10.40% CAGR during the forecast period 2018-2030.

The entertainment and media industry is expected to attain a rapid growth with advancements in digital technologies and the emergence of 5G network connectivity services. Artificial Intelligence (AI) is expected to have an impact on the gaming sector with consumers demanding enhanced gaming experience; this is expected to present an opportunity for key players to invest in the market. However, the challenges of controlling piracy and proper enforcement of copyright laws remains a restraint for the market players. The entertainment and media market witnesses losses worth billions of dollars due to piracy and illegal file sharing. Growing cyberattacks on online platforms also pose a challenge for the market players.

The Final Report will cover the impact analysis of COVID-19 on this industry:

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The increasing demand for more efficient and faster mobile networks from end users has contributed to the overall demand for 5G network connectivity and its development. Companies such as AT&T and Verizon have opened 5G test sites in cities such as Dallas, Atlanta, Sacramento, and Los Angeles. The 5G technology is expected to be commercially deployed in the US by 2022. Governments in different countries such as India have started various initiatives such as the 5G India Forum (5GIF) to speed up deployment. The rollout of 5G technology is expected to transform the entertainment and media industry completely. It is expected to be 10 times faster than 4G technology which will make the process of downloading videos, audio, and gaming content online almost instantaneous.

Based on application, the media and entertainment market has been segmented into wired and wireless applications. Both wired and wireless applications use channels used for data transmission between transmitters and receivers.

The wired media provides a connection between devices through cables. Various types of cables are used for connecting two or more devices; the cables that are primarily used as a traditional means for data transmission are twisted pair cables, coaxial cables, and optical fiber cables. One of the major benefits of using wired media over a wireless technology is the reliability and consistency of the signal with a secure network. Some other benefits of these cables are a superior performance at a higher data rate, insulation from noise and electromagnetic interference and superior capacity and network bandwidth. Gamers use the LAN (Local Area Network) cables as they offer a continuous gaming experience without any lag and connection inconsistency. Set-top boxes, Wi-Fi modems, telephone lines, and gaming devices such as PS4, Xbox use wired connectivity for communication and transmission of data.

The ownership of wireless connected devices is proliferating due to the increasing adoption of cloud platforms, video streaming, IoT technology, social media platforms, and online content platforms by enterprises. The wireless connectivity is usually operated by radio waves, microwaves, and infrared waves; they find various applications in AM and FM radios transmission, cordless phones, mobile phone communication, television content distribution, TV remotes, wireless mouse, keyboard, gaming console, remote, and others.

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Advances in technology are transforming the market of traditional wire connectivity towards wireless connectivity due to the ability of the wireless networks to exchange data from anywhere. One of the major benefits wireless connectivity offers is access to the information such as news, videos, image over the Internet through devices such as laptops, mobiles, tablets, and others without using cables. Currently, various gaming consoles such as PSP and Xbox One Xare moving towards wireless connectivity for live game streaming. The increasing popularity of games such PUBG and Clash of Titans has increased their live streaming which has impacted the growth of the wireless connectivity segment. Moreover, the utilization of Smart TVs for accessing various content platforms such as Netflix, HotStar, and Amazon's Prime Video has also contributed to the growth of the market

Regional Analysis

Global Entertainment and Media Market, by Region, 2018 (%)

The entertainment and media market, by region, has been segmented into North America, Europe, Asia-Pacific, and the rest of the world. North America accounted for the largest market value of USD 878.3 billion in 2018; the market is expected to register a CAGR of 8.84% during the forecast period. Europe was the second-largest market in 2018, valued at USD 576.5 billion; the market is projected to exhibit a CAGR of 9.07%. However, the market in Asia-Pacific is expected to register the highest CAGR of 13.30%. China has witnessed a rapid growth in the entertainment and media industry in the recent years due to the increasing digitalization and advent of digital media over the Internet which promotes the adoption of media and entertainment products and services such as videos, advertisements, video games, and films. The Chinese government is heavily investing in the market and allowing foreign companies to invest in the magazines and local newspapers to increase the country's share in the media and entertainment market.

The Japanese entertainment and media market is growing at a fast pace since the digital media industry of the country is one of the fastest growing among other Asia-Pacific countries. This growth is a result of the usage of search engines and social media platforms by the large population of the country. Yahoo is a leading player for entertainment and media in Japan as it is the most widely used search engine which is ahead of Google in the country. The US gaming industry also contributes to the market growth of media and entertainment in the country. The gaming sector comprises offline and online video games and world class gaming equipment such as gaming consoles, virtual, and augmented reality (VR/AR) sets, online mobile gaming applications, and cloud-based gaming platforms, thereby fostering the market growth. Furthermore, rising investments by Microsoft Corporation to promote video games, e-sports, and gaming equipment are expected to attract a large number of customers, further generating revenue for the media and entertainment industry.

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Companies Covered

The key players of global entertainment and media market are 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).

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