Global Entertainment & Media Market Expected to be Valued at USD 5,099.2 billion by 2030: MRFR :

Overview


The global entertainment & media market is expected to reach USD 5,099.2 million by 2030, registering a CAGR of 8.9% during the forecast period 2021–2030. In this report, Market Research Future (MRFR) includes the segmentation and dynamics of the market to offer a better glimpse of the coming years.


The growing popularity of video games and e-sports and the rapidadoption of smartphones drive the growth of the entertainment & media market. The increasing piracy hampers the growth of this market in digital media. However, emerging opportunities with 5G deploymentmay benefit the market expansion during the study period. Emerging small and medium enterprises offering both regional and local content to the globalaudiences also promote the industry's growth. Artificial Intelligence is expected to influence the gaming sector, with consumers demanding an enhanced gaming experience that will present an opportunity for key players to invest. However, restricting piracy and properly enforcing copyright laws remains a restraint for the market players—the entertainment and media market witnesses loss worth billions of dollars due to piracy and illegal file-sharing practices. Growing cyber-attacks on online platforms also pose a challenge to address for the market players.


Segmental Analysis


The global entertainment & media market has been segmented based on type, application, and region.


Based on the type, the global entertainment and media market has been segmented into films &theatrical, music, social media, animation, video games, sports, art, amusement park/ facilities, radio & broadcasting, book & magazines, toys, and outdoor advertising.The music & theater segment accounted for the largest market share of 14.3% in 2018, with a market value of USD 285.1 billion; it is expected to register a CAGR of 5.3% during the forecast period. The radio and broadcasting segment was the second-largest market in 2018, valued at USD 305.1 billion; it is projected to exhibit a CAGR of 10.5% during the forecast period of 2021-2030. However, the gaming & gambling segment is expected to register the highest CAGR of 12.3% during the forecast period of 2021-2030.


Based on application, the entertainment & media market has been divided into wired and wireless applications. Both wired and wireless applications use channels for data transmission between transmitters and receivers. Wired mediums use cables for transmission, whereas wireless mediums use frequency spectrum, including radio waves and microwaves. Wired and wireless connectivity is used in many devices such as PCs, televisions, smartphones, tablets, and gaming consoles for media and entertainment purposes.The wired segment accounted for the larger market share of 56.8% in 2018, with a market value of USD 1,134.0 billion; it is expected to register a CAGR of 5.7% during the forecast period. The wireless segment was valued at USD 853.5 billion; it is projected to register a CAGR of 11.4% in the same period.


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Competitive Analysis


The prominent players operating in the entertainment & media market include News Corporation (US), Advance (US), iHeartMedia Inc. (US), Discovery, Inc. (US), Warner Media, LLC. (US), Verizon Communications Inc. (US), Alphabet Inc. (US), The Walt Disney Company (US), Baidu, Inc. (China), Grupo Globo (Brazil), Comcast Corporation (US), Facebook Inc. (US), Bertelsmann SE & Co. KGaA (Germany), Viacom, Inc. (US), and Hasbro Inc. (US).


Regional Analysis


The regional analysis for the global entertainment & media has been conducted for North America, Europe, Asia-Pacific, South America, and the Middle East & Africa.


North America is predictedto witness high demand for online video streaming services, video games, and books and magazines in the coming years. The future of the media & entertainment industry 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.The market in North America accounted for the largest market share in 2019, and it is expected to register strong growth during the forecast period.


The European countries such as Germany, UK, France, Italy, Russia, Spain, and rest of Europe regionthe rise in number of television viewers, radio listeners, live music streaming audience, increasing internet & smartphone penetration, etc. have contributed to the regional market growth for entertainment and media industry. However, in case of the Middle East & Africa (MEA) region, countries including UAE, Saudi Arabia, Egypt, Nigeria, South Africa, others are expected to boost the demand for entertainment & media market owing to the enhancing penetration of the internet across the MEA nations and growing demand for video games for entertainment purposes, presenting exciting opportunities for key players to invest in the region.


In Asia-Pacific, China is expected to be the highest revenue-generating country due to heavy investments by the country's government. The major factor driving the growth of the entertainment & media market in this region is the presence of major media providers and large populations in countries such as India and China demanding high-quality media content.