LONDON, May 09, 2023 (GLOBE NEWSWIRE) -- The Global Market Model, The Business Research Company’s flagship product, is the world’s most comprehensive database of integrated market information that provides information on 27 industries covering 5000+ markets.
Media Industry Worth
The global media market was valued at $2214.4 billion in 2022. The market accounted for 2.2% of the global GDP. The web content, search portals and social media market was the largest segment of the media market, accounting for 29.2% of the total in 2022. The USA was the leading market in the media market, accounting for 31% of the total in 2022.
Factors Driving Media Industry Growth
Per media industry forecast report, some of the factors driving the global media market are -
- High forecast growth rates in web content, search portals and social media market
- Increase in the use of internet-accessible devices
- Increase in network speeds, and others.
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Media Industry Growth Forecast
The Global Market Model, in its latest forecast for the media market, has kept the expected forecast growth, compound annual growth rate (CAGR) over the next ten years unchanged. The media market size is expected to grow at a CAGR of 8.8% from 2022 to 2032. The companies spending on media services was reduced due to budget constraints. The reduced consumer spending on these services due to lower discretionary income and the cost-of-living crisis was already taken into account during our previous forecast update. Hence, our forecasts for the global media industry are parallel to the media market share 2022 – 2023.
The Global Market Model allows further in-depth analysis on the following key industry indicators -
- Number of enterprises
- Number of employees
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