Online Entertainment -amr

Rise in disposable income and increase in expenditure on entertainment boost the growth of the global online entertainment market

PORTLAND, 5933 NE WIN SIVERS DRIVE, #205, OR 97220, UNITED STATE, September 17, 2022 /EINPresswire.com/ -- According to a new report published by Allied Market Research, titled, “Online Entertainment Market by Form, Revenue Model, and Device Channel: Global Opportunity Analysis and Industry Forecast, 2021–2027,” The global online entertainment market size is expected to reach $ 652.5 billion by 2027 at a CAGR of 20.82% from 2021 to 2027.

Online entertainment refers to entertainment over the internet through smart devices such as smartphones, smart TVs, laptops, and tablets. Proliferation in adoption of smartphones and affordability of internet have led to increase in online traffic, which is anticipated to fuel the demand for online entertainment content in the form of videos, audios, games, web radio, and e-books.

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Rise in disposable income and increase in expenditure on entertainment boost the growth of the global online entertainment market. Furthermore, technological advancements in smart devices such as increase in size of smartphones, introduction of smart TVs attract a large base of customers, thereby propelling the growth of the product market, globally. Wide touchscreen, HD displays, and strong internet connectivity have enhanced the visual experience, which has notably contributed toward the growth of the global market.

Increase in alternative means of entertainment for traditional TVs and their growing popularity are expected to offer remunerative opportunities for the growth of the product market. Furthermore, multi-device delivery and surge in demand for digital advertisements are providing supportive ground for the growth of the global market. However, rise in cyber threats, cloud unpreparedness, and poor connectivity in rural areas hinder the growth of the product market.

According to current online entertainment market trends, the online entertainment market segments described into form, revenue model, device, and region. By form, it is categorized into video, audio, games, internet radio, others. Depending on revenue model, it is fragmented into subscription, advertisement, sponsorship, and others. On the basis of device, it is differentiated into smartphones, smart TVs, projectors & monitors, laptop, desktops & tablets, and others. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, France, Russia, Italy, Spain, and rest of Europe), Asia-Pacific (China, India, Japan, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).

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The players operating in the online entertainment market have adopted product launch and business expansion as their key developmental strategies to expand their market share, increase profitability, and remain competitive in the market. The key players profiled in online entertainment market report include Amazon Web Services (AWS), Netflix, Inc., Google LLC, Facebook, Tencent Holdings Ltd, Sony Corp, King Digital Entertainment Ltd, Spotify Technology S.A., Rakuten, Inc., and CBS Corporation.

Key findings of the study

The online entertainment market size was valued at $183.1 billion in 2019, and is estimated to reach $652.5 billion by 2027, growing at a CAGR of 20.8% during the forecast period.

By form, the game segment is estimated to witness the fastest growth, registering a CAGR of 23.5% during the forecast period.

In 2019, depending on revenue model, the advertisement segment was valued at $98.0 billion, accounting for 53.5% of the global online entertainment market share.

In 2019, the U.S. was the most prominent market in North America, and is projected to reach $93.9 billion by 2027, growing at a CAGR of 14.90% during the forecast period.

Reason to Buy:

✅ Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the global Online Entertainment Market.
✅ Highlights key business priorities in order to guide the companies to reform their business strategies and establish themselves in the wide geography.
✅ The key findings and recommendations highlight crucial progressive industry trends in the Online Entertainment Market, thereby allowing players to develop effective long-term strategies in order to garner their market revenue.
✅ Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
✅ Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those restraining the growth to a certain extent.
✅ Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation, and industry verticals.

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The research provides answers to the following key questions:

1️⃣ What is the estimated growth rate of the market for the forecast period 2021-2027?
2️⃣ What will be the market size during the estimated period?
3️⃣ What are the key driving forces responsible for shaping the fate of the Online Entertainment Market during the forecast period?
4️⃣ Who are the major market vendors and what are the winning strategies that have helped them occupy a strong foothold in the Online Entertainment Market?
5️⃣ What are the prominent market trends influencing the development of the Online Entertainment Market across different regions?
6️⃣ What are the major threats and challenges likely to act as a barrier to the growth of the Online Entertainment Market?
7️⃣ What are the major opportunities the market leaders can rely on to gain success and profitability?

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David Correa
Allied Analytics LLP
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