Mobile Entertainment Market Set for Rapid Growth, To Reach around USD 128.12 Billion by 2022

Zion Market Research has published a new report titled “Mobile Entertainment Market by Services (Mobile Games, Mobile Music, Mobile TV and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2016 – 2022.” According to the report, the global mobile entertainment market was valued at approximately USD 58.44 billion in 2016 and is expected to reach approximately USD 128.12 billion by 2022, growing at a CAGR of around 17.06% between 2017 and 2022.

 

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Mobile entertainment deals with different functions associated with mobile electronics. It includes games, different applications, videos, and music. The mobile application is very useful in leisure activities, e-commerce, and communication. E-commerce or on-line shopping through mobile gives many opportunities to mobile entertainment market.

 

The global mobile entertainment market has been witnessing a remarkable surge in the past few years due to the increasing use of smartphones. On account of consequent rise in mobile applications due to the technological advancement, the market of mobile entertainment is growing continuously. Due to increasing population and easy availability of network accessibility, is expected to boost the sales of mobile entertainment applications.  The user does not need to pay for every mobile application every time, therefore, the demand of mobile entertainment applications such as Spotify, Temple Run 2, Neko Atsume: Kitty Collection, Amazon Kindle etc is increasing continuously. Affordable prices of smartphones and rising demand from the young population are some of the emerging trends which are likely to open new market avenues in the near future.

 

On the basis of services of mobile entertainment, the global mobile entertainment market is divided into mobile games, mobile music, mobile TV, and others. Other entertainment services segment is further bifurcated into social media, e-commerce etc. The mobile game segment accounted for approximately 56% share of the global market in terms of revenue in 2016 due to the high demand of gaming applications from young population.

 

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Asia-Pacific is expected to remain the market leader during the forecast period and accounted for significant share of the global market revenue in 2016.  Growing penetration of smart technology in the region is one of the major reasons for the growth of the mobile application market. Asia Pacific is expected to be the fastest growing region in coming years due to the rapid industrialization and rising individual income. Europe dominated the smartphone market in 2009 and followed by Asia Pacific. But due to the high population and rapid adoption of technology in Asia Pacific, this region surpassed other regions in 2016. Asia Pacific was followed by North America and Europe in 2016.

 

Activision Blizzard, Apple, Electronic Arts, Company Profile, Google, QuickPlay Media, Rovio International and Spotify are some of the key industry participants of the mobile entertainment market.

 

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Other prominent industry participants include CJ E&M Netmarble, Clear Channel Radio, Colopl, CyberAgent, DeNa, Disney Interactive, Facebook, Gaana.com, Gamevil, GREE, Guvera, Hungama MyPlay, IGG, JB Hi-Fi Pty, Kiloo, Konami Digital, Line, Locojoy, Machine Zone, MindJolt, Mixcloud, OnMobile, RadioTime, Rara, Rhapsody and Samsung Music Hub.

 

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