Increasing demand for more efficient and faster mobile networks from end-users is estimated to contribute to the overall demand for 5G network connectivity and the development of the same. Moreover, governments in several countries such as India have introduced initiatives like the 5G India Forum (5GIF) to speed up the deployment of 5G network connectivity. Deployment of such technology is expected to speed up the rate of growth for the entertainment and media industry.
The surge in the entertainment and media content is expected to revolutionize the industry in the coming years. Reports that investigate the information and communication technology industry have been presented by Market Research Future, which produces reports on industry verticals that appraise the market expansion and prospects. The market is anticipated to capture a 10.40 % CAGR in the forecast period.
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.
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).
Detailed Regional Analysis
The entertainment and media market forecast is studied for the geographical segments of North America, South America, Asia Pacific, Europe, and the Middle East & Africa. Among these regional segments, the global entertainment and media market was led by North America in the base year, which was valued at USD 878.3 billion in 2018. The regional market is also estimated to retain its dominance and register a robust CAGR of 8.84% during the review period.
Europe is anticipated to tread behind North America, garnering the second-largest share of the global entertainment and media market. The regional market was valued at USD 576.5 billion at the beginning of the forecast period and is likely to exhibit a steady CAGR of 9.07% through such forecast period.
Asia Pacific is estimated to witness the highest CAGR of 13.30% during the forecast period. China is likely to lead the country-specific market.
The segmental review of the entertainment and media market forecast is carried out on the basis of type, application, and region. On the basis of type, the entertainment and media market are segmented into animation, amusement park/facilities, book & magazine, outdoor advertising, films and theatrical, radio and broadcasting. Based on the application, the entertainment and media market are segmented into wireless and wired. On the basis of region, the entertainment and media market is segmented into Asia-Pacific, North America, Europe, and Rest of the World.