DUBLIN-(BUSINESS WIRE)-The “Online Entertainment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” report has been added to ResearchAndMarkets.com’s offering.
The global online entertainment market size reached US$ 294.16 Billion in 2021. Looking forward, the publisher expects the market to reach US$ 1,049.31 Billion by 2027, exhibiting a CAGR of 23.61% during 2021-2027.
Companies Mentioned
Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
The concept of online entertainment refers to accessing material over the internet, such as music, movies, and web shows. There are currently more entertainment services available online, which provides users with a greater selection of content.
The most common online entertainment sources include video streaming, music streaming, video chat communication, and multi-player gaming.
In addition to this, this form of entertainment also involves entertainment interactive functions and content, such as social networking services, graph management, forums, geolocation reviews, and ratings.
As a result, users can choose from a wide range of easily accessible material, which is mostly free and low-priced. Entertainment over the internet has gained significant traction due to the immense popularity of on-demand content and OTT platforms.
The market is majorly driven by the continual technological advancements in smart devices providing enhanced visual and listening experiences to the users. This can be attributed to a considerable increase in the penetration of smartphones among the masses. In addition to this, the widespread adoption of internet-enabled smart devices, including smart TVs, laptops, desktops, and smart projectors, have led to an increased demand for online entertainment content, thus fueling the market.
Moreover, the easy availability of internet service at affordable prices, along with the growing data tariffs, are providing an impetus to the market growth. The market is further propelled by the rapid digitization in the media and entertainment sector. Apart from this, the rising popularity of OTT platform subscriptions and the escalating number of OTT application downloads are creating a positive market outlook.
Some of the other factors contributing to the market include the increasing size of touchscreen displays, the expanding expenditure on digital advertisements, the emergence of high-speed 5G internet, inflating disposable income levels and extensive research and development (R&D) activities conducted by the key players.
Key Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the global online entertainment market report, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on form, revenue model and device.
Breakup by Form:
Breakup by Revenue Model:
Breakup by Device:
Breakup by Region:
North America
Asia-Pacific
Europe
Latin America
Key Questions Answered in This Report:
For more information about this report visit https://www.researchandmarkets.com/r/opvo6w
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ResearchAndMarkets.com
Laura Wood, Senior Press Manager
[email protected]
For E.S.T Office Hours Call 1-917-300-0470
For U.S./ CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
