As the mobile phone market continues its explosive worldwide growth, the mobile entertainment industry is being taken along for the ride.
The global mobile entertainment market will grow at an annual rate of nearly 19% through to 2014, when it will be worth an estimated $54 billion, says private market research firm Business Insights.
Smartphones will drive the massive surge in popularity, with apps and high-speed mobile networks also following in its profitable wake. The iPhone leads the way, while Google’s Android OS will be left to fight it out with the likes of the upcoming Nokia-Microsoft platform to see who can grab the most of what is left of the Apple pie.
Mobile music accounts for the bulk of revenue in today’s mobile entertainment industry. Market value was estimated at $10 billion in 2008, and it is expected to more than double to $21 billion by 2014, growing at over 13% per year.
Mobile Video Leading Market Growth
But the biggest growth will be seen in mobile video, with huge predictions of over 36% compound annual growth. Currently the second-largest revenue generator in the segment by some distance, the value of mobile video is expected to increase sevenfold, jumping from $2 billion in 2008 to $14 billion in 2014.
Asia-Pacific has the greatest share of the global mobile entertainment market, accounting for 57% of revenue in 2009. Western Europe generated over 20%, while North America came in third with 13% of the global market.
Key Players - Mobile Entertainment Industry
- Top mobile game publishers: DeNA mobiles, EA mobile, Gameloft, Glu Mobile, Gmode
- Top global mobile music service providers: Nokia, Spotify, Deezer, Shazam, Pandora, Rhapsody, Last.fm
- Top mobile video vendors: O2, Orange, Vodafone, Alcatel Lucent, Flo TV/Qualcomm, MobiTV