Global Entertainment and Media Market to be Propelled by the Increased Consumption of Video Games, Virtual Reality (VR), Smart TV, and Over-the top (OTT) Video by CAGR of ~6% During 2023 – 2033

Kenneth Research published a report titled “Entertainment and Media Market: Global Demand Analysis & Opportunity Outlook 2033” which delivers detailed overview of the global entertainment and media market in terms of market segmentation by type, application, and by region.

Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.

The global entertainment and media market is expected to hold a revenue of ~ USD 4 trillion by 2033, growing from ~ USD 2 trillion in 2022. The market growth can be attributed to the growing popularity of video games, the massive rise in the consumption of VR, Smart TV, and OTT video platforms, and the considerable revenue collected by the global box office.

The global entertainment and media market is expected to grow at a CAGR of approximately 6% from 2023-2033. The market is segmented by application into wired, wireless, and others. Of these, the wired segment is anticipated to hold the largest market share by the end of 2033, owing to the large reliance on traditional media for information and news and the increase in the use of fiber optic networks.

The global entertainment and media market is divided into five major regions, including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in North America is projected to hold the largest market share by the end of 2033, backed by the potential for different types of media for entertainment and the large amount of multilingual content produced and consumed.

The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.

Massive Growth in the Consumption of VR to Boost the Market Growth     

~172 million people globally have been estimated to use VR. The immersive engagement experience that viewers get from VR, the effective way in which VR helps preserve personal interaction in different realms despite the requirement for physical distancing during the pandemic, and the prospective growth of 5G is thought to increase user volume in VR.

However, challenges regarding personalization and data privacy, mobile phone ad interactions, and the steady decline of traditional media are expected to operate as key restraints to the growth of the global entertainment and media market over the forecast period.

This report also provides the existing competitive scenario of some of the key players of the global entertainment and media market which includes company profiling of Comcast Corporation, The Walt Disney Company, Bertelsmann SE & Co. KGaA, BBC, Paramount, Warner Media, LLC, Charter Communications, Inc., Nintendo Co., Ltd., NEWS CORP, Home Box Office, Inc., and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global entertainment and media market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

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