The online entertainment global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Online Entertainment Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The online entertainment market size has grown rapidly in recent years. It will grow from $337.21 billion in 2023 to $387.00 billion in 2024 at a compound annual growth rate (CAGR) of 14.8%. The growth in the historic period can be attributed to rising internet penetration, advancements in technology, the rise of social media, digital content creation, and subscription services.
The online entertainment market size is expected to see rapid growth in the next few years. It will grow to $674.56 billion in 2028 at a compound annual growth rate (CAGR) of 14.9%. The growth in the forecast period can be attributed to rising smartphone adoption, changing consumer preferences, increased investment in original content, and growth in gaming and e-sports. Major trends in the forecast period include increasing subscription-based services, growth of video streaming, expansion of eSports, virtual and augmented reality (VR/AR), and social media integration.
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Scope Of Online Entertainment Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Online Entertainment Market Overview
Market Drivers –
The increasing internet penetration among consumers is expected to propel the growth of the online entertainment market going forward. Internet penetration refers to the proportion of the population within a specific geographic area (such as a country or region) that has access to and uses the internet. Internet penetration is growing due to the increasing affordability of internet-enabled devices and the widespread availability of high-speed internet infrastructure. Internet penetration enhances access to and participation in online entertainment by expanding the audience reach and facilitating seamless content consumption across various platforms. For instance, in July 2023, according to a survey conducted by Statistics Canada, a Canada-based government agency, internet usage among Canadians aged 15 and older increased to 95% in 2022 from 92% in 2020. The most significant increase was observed among Canadians aged 75 and older, with internet usage rising from 62% in 2020 to 72% in 2022. Therefore, increasing internet penetration among consumers is driving the growth of the online entertainment market.
Market Trends –
Major companies operating in the online entertainment market are focusing on developing innovative offerings, such as online entertainment content hubs, to sustain their position in the market. An online entertainment content hub refers to a centralized platform or website that aggregates and distributes various forms of digital content for leisure and entertainment purposes. For instance, in February 2021, Disney+., a US-based production company, launched the Star brand, a new general entertainment content hub, in select international markets. The Star brand hosts thousands of hours of movies and shows from Disney’s various studios and subsidiaries, including Disney Television Studios, FX Productions, 20th Century Studios, Searchlight Pictures, and more. As part of the launch, Disney+ has also added new parental controls, allowing users to set content rating restrictions and add PINs to lock profiles with access to mature content.
The online entertainment market covered in this report is segmented –
1) By Form: Video, Audio, Games, Internet Radio, Other Forms
2) By Devices: Smartphones, Smart Televisions (TVs), Projectors And Monitors, Laptop, Desktops And Tablets, Other Devices
3) By Revenue Model: Subscription, Advertisement, Sponsorship, Other Revenue Models
4) By Application: Individual, Family, Other Applications
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Regional Insights –
North America was the largest region in the online entertainment market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the online entertainment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the online entertainment market are Tencent Video, Netflix Inc., Paramount+, Spotify AB, Hulu, TikTok Pte. Ltd., Disney+, Apple Music, HBO Max, Amazon Prime Video, iQIYI, Bilibili, Roku Inc., Pandora Media LLC, DAZN, Deezer, Crunchyroll LLC, Twitch, Sling TV, Peacock, SoundCloud, Vevo LLC, Tidal, Vudu, Sony Crackle
Table of Contents
1. Executive Summary
2. Online Entertainment Market Report Structure
3. Online Entertainment Market Trends And Strategies
4. Online Entertainment Market – Macro Economic Scenario
5. Online Entertainment Market Size And Growth
…..
27. Online Entertainment Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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