Entertainment - Asia

Asia

The Entertainment market in Asia is expected to experience significant growth in the coming years.
According to projections, the total revenue in this market is estimated to reach US$15.81bn by 2022.
Furthermore, it is anticipated that the market will continue to expand at an annual growth rate of 10.20% (CAGR 2022-2027), resulting in a projected market volume of US$25.91bn by 2027.
Within the Entertainment market, in-app purchases (IAP) are expected to contribute significantly to the revenue.
It is projected that the revenue from in-app purchases will reach US$8.10bn in 2022.
Additionally, paid app revenue is expected to reach US$0.03bn in the same year.
Moreover, advertising revenue in the Entertainment market is projected to reach US$7.69bn in 2022.
The number of downloads in the Entertainment market is also expected to increase substantially.
By 2022, it is projected that there will be a total of 8.31bn downloads downloads in this market.
Currently, the average revenue per download is estimated to be US$1.90.
In terms of global comparison, in China stands out as the country generating the highest revenue in the Entertainment market.
It is projected that in China will generate US$12,140.00m in revenue in 2022.
This indicates the significant presence and influence of the Entertainment market in China.
Overall, the Entertainment market in Asia is poised for substantial growth, with projections indicating a promising future for the industry.

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

Market

Region

Region comparison

Currency

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.