- The key vendors in the media and entertainment market in China 2015-2019 are China Central Television, Dalian Wanda Group Corp. Ltd., Enlight Media Co. Ltd., Shanghai Media Group (SMG), Television Broadcasts Ltd., and Tencent Holdings Ltd.
London, 29 May 2015: Technavio, an independent tech-focused global research firm, has announced the publication of its market research report on the media and entertainment market in China 2015-2019. A key trend that facilitates growth of the media and entertainment market in China is the increase in adoption of cloud services. Cloud computing services are readily adopted by firms because it enhances portability, which in turn allow users to access digital content stored in remote servers. Gaming and music streaming markets have access to cloud services, which allow users to play games and stream music online. The media and entertainment market in China is expected to grow at a CAGR of 11.29% during the forecast period of 2014-2019.
Increasing popularity of smartphones and tablets is a major factor that drives market growth of the media and entertainment market in China. These devices are portable and provide easy access to entertainment services like streaming music and games. Recent developments made in the field of mobile applications and websites has helped the music subscription services to attract a large audience. Market growth of the media and entertainment market in China is measured on the basis of increased disposable income and fast penetration of the smartphone and tablet into the market space.
“Cloud computing services are rapidly being adopted by firms because of the enhanced portability, which allows subscribed users access to the digital content stored in remote servers. Irrespective of the device used by them,” says Faisal Ghaus, Vice President of Technavio Research.
“Consumers are gradually switching to the access-based approach, where they can subscribe to digital music libraries stored in the cloud.”
To define the market conditions in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
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