Mobile Entertainment to Reach $54 Billion by 2014

According to a report from companiesandmarkets.com, the global mobile entertainment market will grow at a CAGR of 18.8% to reach $54 billion by 2014 from $19 billion in 2008. The growth will be driven by smartphones, high-speed mobile broadband networks, apps and emerging markets.The mobile music segment is the largest contributor to the industry's revenue and will grow at a CAGR of 13.2% to more than double from $10 billion in 2008 to $21 billion by 2014. Mobile video, which is the second largest revenue generator, will experience the highest growth rates at 36.1% CAGR, to increase by seven times from $2 billion to $14 billion between 2008-14.In 2009, the world's largest mobile entertainment market was Asia Pacific, with more than half of global revenues (57%) generated in the region. It was followed by Western Europe at 21% and North America at 13%.