Mobile Content Market to Reach $2.1 Trillion by 2032 at 23.3% CAGR: Allied Market Research
Allied Analytics LLP
6 min read
Allied Analytics LLP
Rise in use of social media on mobile devices and rise in usage of virtual reality videos are boosting the growth of the global mobile content market. In addition, increase in number of internet users positively impacts the growth of the mobile content market.
NEW CASTLE, Delaware, Jan. 10, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, “Mobile Content Market by Content Type (Mobile Apps, Games, Music, and Others), Revenue Model (In-App Purchases, Advertising, Subscription, Pay-per-Download, and others), and Platform (iOS, Android, and Others): Global Opportunity Analysis and Industry Forecast, 2023-2032”. According to the report, the mobile content market was valued at valued at $266.4 billion in 2022 and is estimated to reach $2.1 trillion by 2032, exhibiting a CAGR of 23.3% from 2023 to 2032.
Prime determinants of growth
Rise in use of social media on mobile devices and rise in usage of virtual reality videos are boosting the growth of the global mobile content market. In addition, increase in number of internet users positively impacts the growth of the mobile content market. However, lack of device fragmentation and lack of security and privacy issues hamper the mobile content market growth. On the contrary, integration of AR and VR technologies are expected to offer remunerative opportunities for the expansion of the mobile content market during the forecast period.
The music segment to maintain its leadership status throughout the forecast period.
By content type, the mobile app segment held the highest market share in 2022, accounting for nearly half of the global mobile content market revenue, as increased internet penetration and gaming technology have continued to improve, resulting in more accessibility to mobile games. However, the music segment is projected to attain the highest CAGR of 26.9% from 2023 to 2032, owing to the unprecedented rise expected in the music population and consequently, the number of music applications in economies such as China and India, which boost the global market.
The subscription segment to maintain its leadership status throughout the forecast period
By revenue model, the advertising segment held the highest market share in 2022, accounting for one-third of the global mobile content market revenue. This is attributed to the growing adoption of interactive ad formats, such as playable ads, augmented reality (AR) ads, and polls drive the market growth. However, the subscription segment is projected to attain the highest CAGR of 26.8% from 2023 to 2032, owing to increase in paid subscriptions led by the creation of original content, acquisition of top-tier programming, and the proliferation of platforms available.
The iOS segment to maintain its leadership status throughout the forecast period
By platform, the android segment held the highest market share in 2022, accounting for more than half of the global mobile content market revenue, as it helps mobile content to improve efficiency and informatization based on the web kit layout and helps in cost management. However, the iOS segment is projected to attain the highest CAGR of 25.2% from 2023 to 2032, as increase in adoption of iOS is growing significantly.
Asia-Pacific maintain its dominance by 2032
Region-wise, North America held the highest market share in terms of revenue in 2022, accounting for nearly two-fifths of the global mobile content market revenue, owing to increase in number of smartphone users and easy access to high-speed Internet and constant demand for innovative games. However, the Asia-Pacific region is expected to witness the fastest CAGR of 26.4% from 2023 to 2032 and is likely to dominate the market during the forecast period, owing to increase in penetration of social media, ability to share gaming experiences with peers, and growing demand for games among teenagers and young adults.
The report provides a detailed analysis of these key players of the global mobile content market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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