Global Mobile Entertainment Market - Growth, Trend and Forecasts (2018 - 2023)
The Mobile Entertainment market is expected to grow at a CAGR of over 15% during the forecast period (2018 - 2023). Mobile entertainment can be divide into type of solutions such as games, vide, and music. iOS, and Android are the major operating systems for which these solutions are designed. The scope of our study is geographically limited to North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Growing proliferation of smartphones has resulted in a dominant transformation in mobile user behavior and mobile entertainment. Before the advent of smartphones, the mobile entertainment phenomenon comprised of ringtones, wallpapers, and a few full tracks of audio. Mobile TV and games, streaming video and music have transformed digital entertainment and is providing in a wholesome experience for mobile users. Of late, mobile apps have reformed the way users discover and view content. Thus, the recent years have witnessed music and game studio releasing on a mobile app which is increasingly becoming the access point for users to explore and savor the content. Also, growing penetration of smartphones across the globe and the growth in mobile network accessibility in recent years such as 3G and 4G are expected to drive the mobile entertainment market. However, paid version of some types can challenge further penetration, especially in developing countries.
Rising Demand for Video Streaming to Augment the Market
Video streaming is a significant driver of Wi-Fi and cellular data consumption on mobile devices, accounting for more than 75% of data consumed by smartphone owners. Also, the presence of prominent streaming application such as YouTube which is free is driving the most significant data demands. To leverage the opportunities, companies such as AT&T have introduced their mobile application services for customers to view TV channels and various other on demand services on their mobile devices. Moreover, the numbers related to the growth of mobile video have increased in recent years. For instance, Cisco’s Mobile Visual Networking Index estimated that mobile data traffic grew 63% in 2016 to reach 7.2 exabytes per month by the end of the year. Furthermore, 60% of that traffic was video.
Asia-Pacific Expected to be the Fastest Growing Market
The market in the region is driven by the growing penetration of smart phones coupled with the arrival of high speed 4G networks in countries such as India. In order to gain from the surge in mobile-based OTT video consumption, telcos and OTT service providers have entered into strategic partnerships, offering bundled services and discounted subscriptions to users. For instance, companies in India such as Airtel and Vodafone have collaborated with Amazon Prime and Netflix respectively to provide video streaming services at cheaper rates. According to a report, Indian users spend almost 70% of the time on applications like Facebook and WhatsApp, and music and entertainment apps. It is much higher than US, where the population spends 50% on these solutions. Thus, ample opportunities lie for entertainment solutions providers to launch new products.
Key Developments in Mobile Entertainment Market
May 2018 - AT&T started rolling out of the app update for DirecTV Now internet-TV streaming service, which will provide all customers DVR access coupled with 20 hours of storage for no extra charge.
March 2017 - Epic Games, the company which made Fortnite announced the game for iOS-based mobile devices. Also, the company stated that Android version would be launched in the coming few months.
Major Players: AMAZON INC., APPLE INC., AT&T INC., ELECTRONIC ARTS INC., FACEBOOK, GOOGLE LLC, NETFLIX INC., ONMOBILE GLOBAL LIMITED, ROVIO ENTERTAINMENT CORPORATION, SNAP INC., SPOTIFY TECHNOLOGY SA, and TENCENT HOLDINGS LIMITED, amongst others.
Reasons to Purchase Mobile Entertainment Market Report
Current and future adoption outlook of Mobile Entertainment in the developed and emerging markets
Analysing various perspectives of the market with the help of Porter’s five forces analysis
The operating system that is expected to dominate the market
Regions that are expected to witness fastest growth during the forecast period
Identify the latest developments, market shares and strategies employed by the major market players.
3 months analyst support along with the Market Estimate sheet (in excel)
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