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%.
The availability of robust digital technologies and the emergence of 5G network connectivity is expected to motivate the market growth in the upcoming period. The surge in cyberattacks is expected to create fortified sources that can secure the content being shared. The development of wireless technology is expected to further reinvigorate the market growth in the upcoming period.
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The global entertainment and media market share have 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.
Detailed Regional Analysis
The analysis of the regions the entertainment and media market is segmented into North America, Asia-Pacific, Europe, and the rest of the world. The North American region is accountable for the major market value. The European region was the next largest market in 2018, assessed at USD 576.5 billion. The market is projected to exhibit a CAGR of 9.07 % in the forecast period. The market in the Asia Pacific region is anticipated to list the maximum CAGR of 13.30%. China has observed a speedy development in the entertainment and media industry currently due to the growing digitalization and initiation of the digital media over the Internet which encourages the implementation of media & entertainment products and services such as advertisements, videos, video games, and films. The US gaming industry also improves the market growth of media and entertainment in the nation. The gaming sector which comprises of offline, online video games and world-class gaming equipment such as virtual, gaming consoles, and augmented reality sets, online mobile gaming applications, and cloud-based gaming platforms, thus developing the market growth.
The improvement in the efficacy of production facilities is buttressing the market’s growth pace in the coming years. The instabilities in global currency are predicted to become stable and consequently place a beneficial impact on the market. The upturn of investment into physical capital is estimated to underpin the market’s growth in the forecast period. The market is being distinguished by the instrumental forces that are applying an imposing influence. The upgrades in the mining of natural resources are further supporting market expansion advancement. The improvement of substitute raw material resources is likely to further concentrate on the supply demands in the market. Also, inventions in technology are anticipated to exercise a constructive inspiration on the enhancement of the market. The influence of governmental plans is stirring additional evolution of the market. The revivals carried out in the logistic chain are projected to produce favorable possibilities for progress in the coming period.
News Corporation (US), Advance Publications, Inc. (US), Bertelsmann SE & Co. KGaA (Bertelsmann) (Germany), iHeartMedia, Inc. (US), Discovery, Communication Inc. (US), Grupo Globo (Brazil), Baidu Inc. (China), Warner Media, LLC (US), Verizon Communications Inc. (US), Facebook, Inc. (US), Alphabet Inc. (US), Comcast Corporation (US), CBS Corporation (US), Viacom, Inc. (US), and The Walt Disney Company (US).