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Online Entertainment Market to Reach $652.5 Bn, Globally, by 2027 at 20.8% CAGR: AMR- Low data tariffs, increase in smartphone penetration, and technological advancements drive the growth of the global online entertainment market. PORTLAND, Oregon, July 6, 2020 /PRNewswire/ -- Allied Market Research published a report, titled, "Online Entertainment Market by Form (Video, Audio, Games, Internet Radio, and Others), Revenue Model (Subscription, Advertisement, Sponsorship, and Others), Devices (Smartphones; Smart TVs, Projectors, & Monitors; Laptop, Desktops, & Tablets; and Others): Global Opportunity Analysis and Industry Forecast 2021–2027." According to the report, the global online entertainment industry generated $183.1 billion in 2019, and is expected to garner $652.5 billion by 2027, growing at a CAGR of 20.8% from 2021 to 2027.  Prime determinants of growth Low data tariffs, increase in smartphone penetration, and technological advancements drive the growth of the global online entertainment market. However, limited digital infrastructure and digital illiteracy in some of the regions hinder the market growth. On the other hand, rise in digital advertising expenditure and digital transformation in the media & entertainment industry present new opportunities in the coming years. Request Sample Report at: https://www.alliedmarketresearch.com/request-sample/6778 COVID-19 Scenario
The video segment to maintain its lead status throughout the forecast period Based on form, the video segment contributed to more than two-fifths of the global online entertainment market in 2019, and is projected to maintain its lead status throughout the forecast period. This is attributed to surge in prominence of the streaming video content from various platforms such as Hulu Plus, Netflix, Amazon Instant Video, iTunes, and others aong with release of various web series to attract customers. However, the internet radio segment is expected to portray the highest CAGR of 27.5% from 2021 to 2027, owing to declining costs of streaming, ease in Wi-Fi connectivity, rise in smartphones usage, and new entrants in music streaming industry. The advertisement segment to maintain its dominance by 2027 Based on revenue model, the advertisement segment held the highest market share in terms of revenue with more than half of the global online entertainment market in 2019, and will maintain its dominance by 2027. This is due to increase in online traffic and surge in brand awareness & improvement in customer conversion rate from social media platforms through advertisements. However, the subscription segment would grow at the highest CAGR of 25.5% during the forecast period, owing to flexibility in terms of billings & payments, ease of distribution, and ability to become offer reliable & consistent revenue stream. North America to lead throughout the forecast period Based on region, North America accounted for the largest share in terms of revenue, accounting for nearly two-fifths of the global online entertainment market share in 2019, and is estimated to continue its lead position throughout the forecast period. This is due to presence of high bandwidth connection at affordable rates, huge smartphones user base, and high digital literacy rate. On the other hand, LAMEA would witness the highest CAGR of 26.6% from 2021 to 2027, owing to the growth of the music industry with rise in penetration of the online streaming platforms such as Spotify and availability of internet connection at affordable rates. For Purchase Enquiry at: https://www.alliedmarketresearch.com/purchase-enquiry/6778 Market players grabbing the largest pie
Avenue Library Subscription | Request for 14 days free trial of before buying: https://www.alliedmarketresearch.com/avenue/trial/starter Get more information: https://www.alliedmarketresearch.com/library-access Similar Reports: Home Care Service Market: Global Opportunity Analysis and Industry Forecast, 2019–2026 Dating Services Market: Global Opportunity Analysis and Industry Forecast, 2019-2026 Reverse Osmosis Membrane Market: Global Opportunity Analysis and Industry Forecast, 2018-2025 Online Gaming Market: Global Opportunity Analysis and Industry Forecast, 2020–2027 About Us Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry. Contact: David Correa Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg 
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