Online Entertainment Market Size Worth US$ 1,203.9 Billion by 2028 | CAGR of 20.57%
The latest research study “Online Entertainment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” by IMARC Group, finds that the global online entertainment market size reached US$ 367.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,203.9 Billion by 2028, exhibiting a growth rate (CAGR) of 20.57% during 2023-2028.
Online entertainment represents accessing material over the internet, including music, movies, and web shows. The most common virtual entertainment sources comprise video streaming, music streaming, video chat communication, and multi-player gaming. In addition to this, this form of entertainment also involves interactive entertainment functions and content, such as social networking services, graph management, forums, geolocation reviews, and ratings. Consequently, users can choose from a wide range of easily accessible material, which is mostly free and low-priced. Entertainment over the internet has gained significant traction, on account of the immense popularity of on-demand content and over-the-top (OTT) platforms.
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Online Entertainment Market Trends and Drivers:
The inflating technological advancements in smart devices providing enhanced visual and listening experiences to the users, owing to the rising penetration of smartphones among the masses, are primarily augmenting the online entertainment market. Furthermore, the widespread adoption of internet-enabled devices, including smart TVs, laptops, desktops, and smart projectors, have led to an escalated demand for virtual entertainment content, which is positively influencing the global market. Apart from this, the easy availability of internet service at affordable prices and the increasing data tariffs are acting as significant growth-inducing factors. Moreover, the inflating digitization in the media and entertainment sector is also bolstering the market growth. Besides this, the growing popularity of over-the-top platform subscriptions and the elevating number of OTT application downloads are further catalyzing the global market. Additionally, the rising size of touchscreen displays, the increasing expenditure on digital advertisements, the emergence of high-speed 5G internet, the inflating disposable income levels, and the extensive R&D activities conducted by the key players are expected to drive the online entertainment market in the coming years.
Online Entertainment Market Report Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- Amazon Web Services Inc. (Amazon.com Inc.)
- Charter Communications Inc.
- Comcast Corporation, Google LLC (Alphabet Inc.)
- King.com Limited (Activision Blizzard Inc.)
- Meta Platforms Inc.
- Netflix Inc.
- Rakuten Group Inc.
- Sony Pictures Networks India Pvt. Ltd. (Sony Corporation)
- Spotify AB
- The Walt Disney Company and Ubisoft Entertainment SA.
The report has been segmented the market into following categories:
Breakup by Form:
- Internet Radio
Breakup by Revenue Model:
Breakup by Device:
- Smart Tvs, Projectors and Monitors
- Laptop, Desktop and Tablets
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Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023- 2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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