The mobile entertainment market is expected to reach USD 507.46 billion by 2028, from an estimated USD 170.10 billion in 2021, growing at a CAGR of 16.90% globally.
The mobile entertainment the means enables the people entertainment service which includes images, videos, streaming videos, subscription services, bundled services, audio, text to voice, ringtone download, ring tones alert, main recording tones, short tones, promotional tones, mobile games, SMS, Daily subscription newsletter and other services. Mobile entertainment service is also called ADN service which provides wireless service. Several applications such as Netflix, YouTube, Facebook, Instagram, WhatsApp, Twitter and Angry Birds are involved in providing mobile entertainment service. According to Statista, Netflix’s share in the United States is 62% and is owned by households. Moreover, online games and video are popular activities around the world. For example, Statista said that in 2020, 365 million online gamers in India. Growing number of viewers and gaming users are contributing to the growth of the mobile entertainment market over the forecast year.
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Top Key Mobile Entertainment Market Players:
- Amazon Inc.
- AT&T Inc.
- Electronic Arts Inc.
- Google LLC
- Netflix Inc.
- Onmobile Global Limited
- Rovio entertainment company
- snap inc.
- Spotify Technology AG
Market Dynamics and Drivers:
The growing number of mobile users is the key factor driving the growth of the mobile entertainment market. Smartphones are available at affordable prices in the market, thus increasing the number of smartphone buyers. For example, Statista said that in 2022, the number of smartphone subscriptions worldwide was 6 billion. Entertainment is becoming a crucial part of people’s lives as it helps relieve stress, builds people’s confidence to achieve their goals, improves social communication, provides employment opportunities, provides creative classrooms and programs educational for fun learning, and the most important benefits of entertainment is that it helps to fill people’s lives with happiness. These beneficial factors are supporting the growth of the mobile entertainment market on schedule. Also, people are becoming more mobile addicted, risk of cheating through social media and excessive use of cell phones cause health issues like anxiety, depression. These factors hindering the growth of the mobile entertainment market.
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Mobile Entertainment Market Report Highlights:
- By application, the mobile TV segment is expected to hold the maximum mobile entertainment market share during the projected period. Growing mobile TV users in large numbers propelling the growth of the market.
- By advertising, the online video advertising business segment is expected to witness the greatest expansion in the mobile entertainment market during the forecast year. Most marketers prefer video content for advertisement to promote their product which supports market growth.
- By region, Asia-Pacific is expected to dominate the mobile entertainment market over the projected period. Growing population with increasing number of mobile users is driving the growth of mobile entertainment market in this region.
Industry key development:
- In May 2021, Amazon India has launched a free video streaming service. The name of this service is miniTV is available in the Amazon Android application.
- In September 2021, Amazon has launched local streaming services on its video platform in India. The purpose of this service was to boost subscription.
Mobile Entertainment Market Segmentation:
- mobile music
- Mobile Games
- Mobile TV
- Mobile personalization
- Advertising on social networks
- Online Video Advertising
- Online search advertising
- Location-Based Mobile Advertising
- In-game advertising
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For this report, Introspective Market Research has segmented the mobile entertainment market based on region:
Regional Outlook (Revenue in USD Million; Volume in Units, 2022-2028)
- North America
- The rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia-Pacific
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of MEA
- Latin America
- Rest of LATAM
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The objective of the research is to provide market knowledge and strategic insights to help decision makers make informed investment decisions and identify potential gaps and growth opportunities. Historical revenue and sales volume are reported, and additional data is triangulated using top-down and bottom-up methodologies to predict forecast figures for important regions covered in research, as well as classified and well-known types and end-use industries. The Mobile Entertainment Market study explores the competitive landscape of the global market. Besides rivals market share research, in-depth profiling, product/services and business insights, the study focuses on BCG Matrix, Heatmap Analysis and SWOT Analysis to better correlate the market competitiveness. Five forces analysis, Ansoff matrix, PESTEL analysis and value chain analysis are used to better understand the market conditions.
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