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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Online Entertainment Market Trends
The online entertainment market is growing rapidly as more people consume digital content on various platforms and devices. The increasing use of smartphones and the availability of affordable internet access have resulted in online entertainment market expansion. Advancements in smartphone technology and an increase in the utility of smartphones are expected to create huge demand for smartphones. The increase in the size of smartphones and touchscreen displays has enhanced viewers' visual and listening experience. Thus, a surge in the use of smartphones is expected to fuel the online entertainment market growth during the forecast period.
The entertainment market is further driven by the decline in the cost of internet charges and technological advancements in smartphones, such as the introduction of mobile phones supporting 5G networks, folding smartphones, 3D-enabled mobile phones, and artificial intelligence and augmented reality-integrated phones. Furthermore, the fast adoption of internet-enabled smart gadgets, such as smart TVs, desktops, laptops, and smart projectors, has dramatically increased the demand for online entertainment as these gadgets offer various benefits to consumers, such as convenience, choice, flexibility, and affordability.
However, the market also faces certain challenges, such as piracy, privacy, security, regulation, and quality. Therefore, online entertainment companies need to constantly innovate and adapt to the changing needs and expectations of their audiences. Meanwhile, the rise in the digital transformation in the media and entertainment industry and increase in the expenditure on the digital advertisement will further create new opportunities in the forecast period.
Online Entertainment Market Report Snapshots
Online Entertainment Market Size
Online Entertainment Market Trends
Online Entertainment Market Regional Analysis
Online Entertainment Companies
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the online entertainment market reached an approximate value of USD 419.87 billion.
The market is expected to grow at a CAGR of 9.3% between 2024 and 2032.
The online entertainment market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 934.75 billion by 2032.
The major drivers of the market include the increase in popularity of the OTT media services, rise in the digital transformation in the media and entertainment industry, and increase in the expenditure on a digital advertisement.
Key trends aiding online entertainment market expansion include the increasing use of smartphones, availability of affordable internet access, rising popularity of gaming form, and growing shift towards e-learning.
Major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The different forms in the market are video, audio, and games, among others.
Based on the revenue model, the market is segmented into subscription, advertisement, and sponsorship, among others.
The various devices in the market are smartphones, smart TVs, projectors, and monitors, among others.
Key players in the market are Netflix, Inc, Amazon.com, Inc., MetaMedia Tech Inc., Google LLC, The Walt Disney Company, Spotify AB, and Tencent Holdings Ltd., among others.
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