Global Mobile Entertainment Market: Overview
Mobile entertainment comprises of any content typically accessed using smart mobile devices, notably smartphones. Traditionally, the groundwork was laid by the popularity of different types. Thereafter, with the proliferation of apps that allow easy access to different entertainment contents, the mobile entertainment market gathered incredible traction. A case in point is the popularity of music service apps. Key service providers comprise mobile games, mobile music, and mobile TV. The accelerating pace of use of smart devices among populations world over is a key avenue for providers in the mobile entertainment market.
Over the years, a number of mobile app development companies are willing to tap into revenues in the mobile entertainment market. The growing demand for high-definition entertainment content at cost-effective rate is the key business proposition that has kept the audience hooked.
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Global Mobile Entertainment Market: Competitive Analysis and Key Developments
In the backdrop of the lockdown restriction in Covid-19 pandemic, there is expected to be a steep rise in the consumption of mobile entertainment. This trend is likely to fuel the intensity of competition among providers, causing disruption in OTT service models. Most aspiring players in the mobile entertainment market hope to gain revenues by targeting video on demand services. Several key players have already reaped revenue gains by leveraging the success of OTT platforms.
Top players are spending money to gain control on OTT platforms. Numerous players are also regular about updating the mobile entertainment apps. A few players in the mobile entertainment market have consolidated their position by focusing on gaming apps.
Some of the promising players in the mobile entertainment market are Rovio International, Spotify, QuickPlay Media, Electronic Arts, Activision Blizzard, and Google.
Global Mobile Entertainment Market: Key Trends
Over the years, the smartphones have become more affordable than ever across populations. Together with this, the cost of accessing internet has come down drastically, especially noticeable in developing economies. Producers of mobile entertainment have begun putting tall bets on Over-the-Top media services (OTT) and Video-on-Demand (VoD). The chaotic lifestyle of a large section of urban consumers has spurred the consumption of mobile entertainment. Numerous developing economies have been some of fastest growing smartphone markets.
The sheer pace of use of low-cost internet among smartphone users is one of the enabler as well as appearing to be accelerator in the expansion of the mobile entertainment market. By 2022-end, India, a fast developing market is projected to witness 762 million. Such trends open vast avenue for growth in demand for mobile entertainment. The emergence of new OTT service models is a notable trend bolstering new opportunities in the mobile entertainment market. The growing demand for vernacular content among rural population in countries such as India has also unlocked new prospects in the mobile entertainment market.
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Global Mobile Entertainment Market: Regional Assessment
On the regional front, Asia Pacific is a market with vast potential. This is due to the rising demand for cost-effective entertainment through mobile apps across all demography. Also, there is a surge in demand for vernacular mobile entertainment in countries such as India. Further, in recent years, young adults such as office goers have been increasingly getting attracted toward video streaming services on subscription basis. This will open new opportunities for players offering OTT service models. The changing preference of consumers has led to the popularity of OTT models in the Asia Pacific mobile entertainment market. Further, there seems to a vast demand for original entertainment contents in on video demand. The growing popular demand for local content with mainstream actors in India market is a case in point.
Some of the other promising regions are Europe and North America.
The research document on the mobile entertainment market studies the ecosystem with the help of descriptive overviews and important market statistics. A growing consumer base and improvements in mobile technology are the key driving factors in the mobile entertainment market. The market also creates additional growth for all related markets such as minor application-making organizations/inpiduals, smartphones, and entertainment websites. The report explains the industry’s overall capabilities, overall growth rate, and the systems in use. It also explores the major opportunities for growth, as well as restraints on the mobile entertainment market.
The research report investigates statistics from historical and current sources to provide an accurate forecast of the application production details and market size. It will establish a system of European and American regions as having the top players for the mobile entertainment markets.
The research report utilizes Porter’s five force analysis to provide a broad spectrum of easy-to-comprehend market analysis. It goes further to use a value chain assessment and a SWOT analysis to help you stay in touch with the projected chances and competitive trends in the mobile entertainment market.
The key players that dominate the mobile entertainment market are Vodafone, AT & T, Apple, Android, Blackberry, and Motorola Droid.
Major geographies analyzed under this research report are:
- North America
- Rest of the World
This report gives you access to decisive data such as:
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for the coming years
Key highlights of this report
- Overview of key market forces propelling and restraining market growth
- Up-to-date analyses of market trends and technological improvements in the mobile entertainment market
- Pin-point analyses of market competition dynamics to offer you a competitive edge
- An analysis of strategies of major competitors
- An array of graphics and SWOT analysis of major industry segments
- Detailed analyses of industry trends
- A well-defined technological growth map with an impact-analysis
- Offers a clear understanding of the competitive landscape and key product segments
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.