Media

Driven by the expansion of mobile internet access and increasing connection speeds, the growing number of mobile and streaming devices leads to a steady growth in the demand for all types of digital media. The major shift in the market can be attributed to the COVID-19 pandemic, which has caused a tremendous increase in the demand for media and the need for digitalization. Even though traditional media is more likely to either stagnate or decline on the whole, the increase of the Media market is largely attributable to the segments TV & Video and Games. This positive effect generates more growth, but the digital media segments within the Media market will most likely remain predominant even after the pandemic. Although the USA is still leading the market, it is the Asian countries in particular that are demonstrating how increasing prosperity creates great demand for knowledge, culture, and entertainment. Especially video-on-demand is expected to continue its growth avenue, with Netflix as the current biggest player. According to predictions, however, Disney+ is set to become the most popular streaming service by 2026. In the future, improved technology and new ways of consuming media will align with the increasing consumption by users and exhibit steady growth. With the emergence of the metaverse, for instance, the Media market will face a completely new dimension that will be accessible for consumers and enable new possibilities for consumption. All in all, what can be observed within the Media market is a shift from traditional channels, such as print or non-digital media, to digital forms of media. This effect is expected to become prevalent throughout the entire market and in all regions.