Entertainment - GCC

  • GCC
  • The Entertainment market in the GCC is expected to see substantial growth in the coming years.
  • According to projections, the total revenue in this market is set to reach US$162.00m by 2022.
  • This indicates a promising trend for the entertainment industry in the region.
  • Furthermore, it is anticipated that the market will continue to experience a steady annual growth rate of 12.20%, from 2022 to 2027.
  • This growth is expected to result in a projected market volume of US$273.70m by 2027.
  • These figures highlight the potential for significant expansion within the Entertainment market in the GCC.
  • When examining specific segments within the Entertainment market, it is projected that in-app purchase (IAP) revenue will reach US$123.80m in 2022.
  • Additionally, paid app revenue is expected to reach US$0.09m in the same year.
  • Moreover, advertising revenue is projected to reach US$38.21m in 2022.
  • These figures demonstrate the various revenue streams within the Entertainment market.
  • In terms of user activity, the number of downloads in the Entertainment market is expected to reach 120.80m downloads in 2022.
  • This signifies a substantial level of engagement within the market.
  • Additionally, the average revenue per download is currently estimated to be US$1.34, indicating the value of each user's engagement.
  • It is worth noting that when compared globally, in China generates the highest revenue in the Entertainment market, with an estimated US$12,140.00m in 2022.
  • This showcases the significant market potential and dominance of the Chinese entertainment industry.
  • In summary, the Entertainment market in the GCC is projected to experience substantial growth in the coming years.
  • With promising revenue projections, increased user engagement, and a global perspective, the entertainment industry in the GCC holds significant potential for further development and success.

Key regions: United States, India, Germany, China, South Korea

 
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Analyst Opinion

Since the start of Apple, Inc.'s App Store in 2008 with around 500 apps, mobile apps have come to dominate the digital economy and have quickly outpaced the demand for desktop applications. As of 2021, the Apple App Store and Google Play Store had more than 5 million apps combined. Because many apps from the West are not available in China, many new app stores have emerged there. Digital lifestyles around the world now depend on adopting mobile apps, especially when it comes to social networking. The games industry has also been thoroughly transformed by the app revolution and is demonstrated by the fact that the games category is the largest and highest-grossing app category.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on revenue from in-app purchases, revenue from the purchase of apps, and revenue from advertising, as well as the number of downloads for each app category.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use market data from independent databases and third-party sources, current trends, and reported performance indicators of top market players. In addition, we use relevant key market indicators and data from country-specific associations, such as smartphone users and mobile broadband connections. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption. The main drivers are GDP/capita, level of digitization, and consumer attitudes toward apps.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year in case market dynamics change.

Overview

  • Revenue
  • Downloads
  • Analyst Opinion
  • Key Players
  • Global Comparison
  • Methodology
  • Key Market Indicators
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