Global Online Entertainment Market (2019-2027) – By Form, Revenue Model & Devices – ResearchAndMarkets.com

DUBLIN – (COMMERCIAL THREAD)–The “Online Entertainment Market by Form, Revenue Model, Devices: Global Opportunity Analysis and Industry Forecast 2021-2027” the report was added to ResearchAndMarkets.com offer.

The online entertainment market size was valued at $ 183,067.0 million in 2019 and is expected to reach $ 652,455.0 million by 2027, registering a CAGR of 20.82% from 2021 to 2027.

Online entertainment is the process of accessing entertainment material including music, videos, books and games on the Internet. The increase in internet penetration and the rise in the adoption of smart devices such as smartphones, smart TVs and laptops have increased the number of internet users who have changed their preference for online entertainment. .

At present, online social media entertainment has gained popularity as more and more people get involved in producing videos, music and images on various social media platforms such as Instagram, Facebook, Tumblr, LinkedIn and WhatsApp. Thus, an increase in the popularity of social media platforms is expected to drive the growth of the online entertainment market during the forecast period.

The high penetration of smartphones is the key factor driving the growth of the online entertainment market. This is attributed to the fact that smartphones are mainly used for accessing social media, playing online games, watching movies and listening to music. The growth of the global market is further driven by the falling cost of internet charges and technological advancements in smartphones such as the introduction of mobile phones that support 5G network, foldable smartphones, 3D enabled mobile phones and phones. integrated with artificial intelligence and augmented reality. .

3D-compatible smartphones allow recording of stereoscopic images and videos. Plus, it doubles the joy of playing video games and watching movies. Artificial intelligence is revolutionizing the way video games are played and developed. It will be used to enhance the player experience and allow players to perform any action in a virtual world that they could in the real world. In addition, the mobile phones supporting augmented reality improve the viewing experience while watching movies and playing games, which helps in the growth of the market.

Live multimedia service is a streaming multimedia service provided directly to viewers via the Internet. OTT content can be directly downloaded or viewed at the request of users. The proliferation of adoption of internet-enabled devices such as smart TVs, YouTube TVs, and smartphones is significantly driving the growth of OTT multimedia services, which in turn is expected to increase the growth of the online entertainment market over the course of time. of the forecast period. Some of the OTT media service providers operating in the market include Netflix, Inc., Hulu, LLC, Amazon.com, Inc., and Google LLC.

However, digital illiteracy and the lack of digital infrastructure such as digital communication, computing or data storage, Wi-Fi network, applications and software are limiting the growth of the online entertainment market. On the contrary, the increase in the number of internet users and the technological development of smart devices are expected to provide lucrative growth opportunities for new entrants in the online entertainment market.

Key Benefits

  • The study provides an in-depth analysis of the global online entertainment market, with current and future trends to elucidate the looming pockets of investment in the market.

  • Current and future trends are outlined in the report to determine the overall attractiveness of the market and distinguish profitable trends to gain a stronger foothold in the market.

  • The report provides insight into drivers, restraints, and opportunities with impact analysis.

  • A quantitative analysis of the current market and an estimate of it from 2019 to 2027 is provided to present the financial competence of the market.

  • Porter’s five industry forces model illustrates market competitiveness by analyzing various parameters such as the threat of new entrants, the threat of substitutes, the bargaining power of buyers, and the bargaining power of suppliers operating in the market. .

  • The value chain analysis in the report provides a clear understanding of the roles of stakeholders involved in the value chain.

  • Competitive intelligence highlights the business practices followed by the main market players in various regions.

Market dynamics

Conductors

  • Technological advances in smartphones

  • Low data rates and increasing smartphone penetration

  • Increase in disposable income

Constraints

  • Digital illiteracy and limited digital infrastructure

Opportunities

  • Digital transformation in the media and entertainment industry

  • Increased spending on digital advertising

Companies mentioned

  • Amazon Web Services (AWS)

  • Netflix inc

  • Google LLC

  • Facebook

  • Tencent Holdings Ltd

  • Sony Corp

  • King Digital Entertainment Ltd

  • Spotify Technology SA

  • Rakuten Inc

  • CBS Company

For more information on this report, visit https://www.researchandmarkets.com/r/igfckg