Online Entertainment Market:
Executive Summary
Global Online Entertainment Market is valued at approximately USD 183 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 17.2% over the forecast period 2020-2027. In the recent scenario, most of the entertainment services are now available online and this provides the users with access to more content than ever before. Online entertainment involves access to material such as music and films over the Internet. The online entertainment combines entertaining collaborative functionality and content such as video streaming, multi-player gaming, music and video streaming, video chat communication, and many more. Online entertainment can be either watching or listening to the program as they live streaming, as well as keep it on the device to enjoy at a later time. Any modern internet-enabled device should be able to access online entertainment platforms. These devices can be a smartphone, smart TVs, desktops, laptops, and projectors. Although, the recent outbreak of COVID-19 pandemic has been increasing the demand for online entertainment services due to several regional government has imposed lockdown to prevent the spread of novel coronavirus. Therefore, many people temporarily do not have any kind of work, which results that they are getting more engaged in online entertainment. This is likely to leverage the market growth during the forecast period. Moreover, the rising ownership and shipment of smartphones and laptops among individuals, along with the availability of internet services at affordable prices are the few factors responsible for the CAGR of the market during the forecast period. According to Statista, the total shipments of smartphones around the world were about 1.6 billion units in 2017, demonstrating an increase of 7.17% from 2014 (1.3 billion-unit smartphone shipments). Similarly, according to the International Data Corporation (IDC), the smartphone suppliers shipped a total of 369.8 million smartphone units around the world during the Q4 of 2019. This, in turn, is expected to strengthen the market growth all over the world. However, digital illiteracy and limited digital infrastructure are the major factors restraining the market growth over the forecast period of 2020-2027.
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The regional analysis of the global Online Entertainment market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the high availability of advanced digital infrastructure with digital literacy, along with the presence of a significant number of internet service providers in the region. Whereas, Asia-Pacific is anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027. Factors such as increasing penetration of internet & smartphone and the rapid growth of digitalization in the media & entertainment industry would create lucrative growth prospects for the Online Entertainment market across the Asia-Pacific region.
Major market player included in this report are:
Amazon Web Services
Netflix, Inc.
Google LLC
Facebook
Tencent Holdings. Ltd.
Sony Corp.
King Digital Entertainment Ltd.
Spotify Technology S.A.
Rakuten Inc.
CBS Corporation
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Form:
Video
Audio
Games
Internet Radio
Others
By Revenue Model:
Subscription
Advertisement
Sponsorship
Others
By Device:
Smartphones
Smart TVs
Projectors, & Monitors
Laptop, Desktops, & Tablets
Others
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Online Entertainment Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
Continuous…
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NOTE : Our team is studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.
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