Global Markets for Entertainment Technologies
August 12, 2008
Wellesley, Mass—According to a new technical market research report, GLOBAL MARKETS FOR ENTERTAINMENT TECHNOLOGIES (IFT067A) from BCC Research, the global market for entertainment technology was worth $57.3 billion in 2006. This is expected to increase to $66.9 billion in 2008, and by 2013 the market should be worth $83.3 billion, a compound annual growth rate (CAGR) of 4.5%.
The market is divided into entertainment technology devices and programmed entertainment technology. Entertainment technology devices include technology toys and gadgets, home theater systems, multifunctional personal devices, consumer imaging technology, in-vehicle entertainment systems and out-of-home entertainment technology. Programmed entertainment technology includes television and online entertainment and fixed media entertainment.
The entertainment technology devices segment has the larger market share, generating $43.5 billion in 2006 and an estimated $50.9 billion in 2008. This should increase at a CAGR of 4.8% to reach $64.5 billion in 2013. Entertainment technology devices comprised approximately 76.1% of the overall entertainment technology market in 2008, forecast to rise to approximately 77.4% of the overall market in 2013.
Programmed entertainment technology is the second largest segment, worth $13.8 billion in 2006. This is expected to increase to $16.0 billion in 2008 and $18.8 billion in 2013, for a CAGR of 3.3%. Programmed entertainment technology comprised approximately 23.9% of the overall entertainment technology revenues in 2008, forecast to decrease to approximately 22.6% in 2013.
Entertainment technology is a consumer-driven market in which advertising and marketing are very important, since entertainment technology purchases or services are generally optional ones, made with disposable income. Entertainment technology ranges from single-purchase novelty items to extensive systems of products that create and promote an ongoing entertainment choice and also a lifestyle.
Global Markets for Entertainment Technologies( IFT067A )
Publish Date: Jul 2008
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