The global mobile content market is expected to soar to US$18.6bn in 2017, jumping from US$6.5bn in 2011, and growing at a compound annual growth rate (CAGR) of 19pc from 2011 to 2017, a new report suggests.
In the overall global market, the US mobile content market was the largest regional market, with a revenue share of 30.3pc in 2011, Mobile Content Market – Global and the U.S. Industry Analysis, Size, Share, Trends and Forecasts, 2011 – 2017 reveals. Moreover, faster adoption of mobile content in the region will increase the market share of the US to 41.0pc in 2017.
The mobile content market is made up of mobile games, mobile music and mobile video. Mobile games were the largest market segment, with a revenue share of 53.3pc in 2011. The segment will further consolidate its position with 61.7pc market share in 2017. The global mobile games market was worth US$3.5bn in 2011, and is expected to reach US$11.4bn in 2017 with a CAGR of 21.9pc from 2011 to 2017.
Reasons behind the growth in the mobile content market include continuous product innovations and advancement in mobile devices with high-end multimedia functionalities. In addition, increase in mobile bandwidth and the rising popularity of mobile devices among the elderly population are also growth factors.
Key factors that impact the mobile content market while purchasing mobile content include content features, innovation and smart devices in the market.
The report indicates that mobile music and video revenue is expected to decline with the growth in cloud-based services and thus would influence users’ purchasing decisions. Stakeholders may find the market-entry barriers to be on the higher side for the mobile content market due to higher competition in this segment.