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 refers to the process of accessing material over the internet, such as movies, music, web shows, etc. It offers users with a greater selection of content. In line with this, some of the most common online entertainment sources include music streaming, video chat communication, video streaming, and multiplayer gaming. They provide numerous interactive functions and content, such as graph management, social networking services, forums, geolocation reviews, and ratings. Consequently, users can choose from a wide array of easily accessible materials, which are usually low-priced and free.
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Online Entertainment Market Trends and Drivers:
The inflating popularity of on-demand content and OTT platforms is primarily driving the online entertainment market. Additionally, the rising technological advancements in smart devices that provide enhanced visual and listening experiences to users, on account of the growing penetration of smartphones, and the elevating utilization of internet-enabled consumer electronics, including laptops, desktops, smart TVs, smart projectors, etc., are further bolstering the market growth. Besides this, the increasing digitization in the media and entertainment sector, the escalating demand for touchscreen displays, the sudden outbreak of the COVID-19 pandemic, and the high disposable income levels of individuals are acting as significant growth-inducing factors. Moreover, the easy availability of internet service at affordable prices and the widespread adoption of OTT platform subscriptions and application downloads are positively influencing the global market. Apart from this, key market players are focusing spending on digital advertisements, which is also bolstering the market growth. Furthermore, extensive investments in R&D activities are expected to fuel the online entertainment market over the forecasted period.
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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
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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