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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Online Entertainment Market Analysis by Region
North America to dominate the market due to the rising availability of advanced digital infrastructure and expansion of gaming culture
North America is expected to dominate the market for online entertainment during the forecast period. The key factors driving the growth of the online entertainment market in the region include the rising availability of advanced digital infrastructure, a high rate of digital literacy, and increase in the popularity of online games. Further, over-the-top (OTT) media services have gained notable popularity in the region as they offer original and unique content, are convenient to use, and are compatible with smartphones.
In the region, United States dominates the online entertainment market share due to advancements in different aspects, such as graphics and experience. Moreover, the advent of cross-platform gaming has become highly beneficial for online gaming market players. Thus, the increase in popularity of the OTT media services and online gaming is expected to propel the United States online entertainment market.
Europe is the second-largest market for online entertainment as the region has a diverse and mature online entertainment landscape, with a mix of local and global players offering various types of content and services. The rising popularity of online gaming, esports, live streaming, podcasts, and online education are some of the key factors boosting the online entertainment market value in Europe.
However, Asia Pacific is the fastest-growing market for online entertainment, owing to the rapid expansion of the internet and mobile user base, especially in emerging countries such as China, India, Indonesia, and Vietnam. The region also has a large and growing young population, which is more inclined to consume online entertainment than traditional media. The emergence of regional and niche online entertainment platforms, such as iQiyi, Hotstar, Viu, and Joox, and the increasing investments by global players, such as Netflix, Amazon, and Disney, further increase the online entertainment market size in Asia Pacific.
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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