Media & Entertainment
Overview of the global wearable payment market
Technavio’s market research analyst predicts the global wearable payment market to grow at an impressive CAGR of more than 59% between 2016 and 2020. Mobile payment through wearable devices is the latest trend in the payment industry. Wearable payment is gaining huge traction in both developed and developing countries owing to the convenience offered by wearable devices to make contactless payments. The increased penetration of wearable devices has also prompted several companies to install NFC POS terminals in their stores so that customers can make contactless payments. Moreover, the decreasing costs of NFC technology and the growth of the NFC ecosystem that supports diverse NFC applications have compelled vendors to integrate NFC technology into wearable devices, which, in turn, will further drive the growth of the global wearable payment market during the forecast period.
The emergence of host card emulation (HCE) is one of the latest developments in this market. HCE is an on-device technology that allows wearable or mobile devices to perform card emulation on an NFC-enabled device without depending on access to a secure element. Technavio expects that HCE will gain immense popularity over the forecast period as it is likely to be widely adopted by banks and some leading over-the-top players for NFC payments. The UK’s Barclays Bank is one of the most popular institutions to utilize this advanced technology.
Competitive landscape and key vendors
Characterized by the presence of numerous players, the global wearable payment market is highly competitive in nature. Apple, Jawbone, Google, MasterCard, Samsung Electronics, and Visa are the leading vendors in the market. These vendors contend
Global market overview for consumer drones
The global market for consumer drones is expected to experience profound growth during the forecast period and will post an impressive CAGR of over 23% by 2020. The extensive use of consumer drones for photography is a noteworthy factor facilitating the prospects for growth in this market. At present, most drones are equipped with a camera to capture aerial photographs. Hobbyists also use drones to take pictures of bird nests, aerial views of building structures, and roads. Also, many consumer drones are used at weddings to take photos from an aerial view. Drones are becoming increasingly popular for photography as they are not expensive and provide a photographer with a different vantage point, which is crucial in photography.
Another key trend fostering the prospects for growth in this market is the usage of virtual reality (VR) in drones. VR is the new trend in the entertainment domain and is making its way to various digital arenas, particularly the digital video content market. Following the success of VR videos, major players in the market such as Parrot and DJI are also integrating VR into their drones. For instance, the Bebop, developed by Parrot, is a consumer camera drone that is integrated with VR headsets like Oculus Rift. The drone can be easily controlled with the help of a mobile app or a physical flight controller that is operated using mobile data or broadband.
Competitive landscape and key vendors
The global consumer drones market is one of the fastest growing markets and is
Overview of the global virtual reality (VR) content market
Technavio’s market research analyst predicts the global virtual reality (VR) content market to grow tremendously during the forecast period, posting an impressive CAGR of almost 128%. The growth of the VR content market is directly proportional to the growth of the gaming market. The gaming market is the highest adopter of VR content. VR offers a simulated environment through its hardware and software, which provides users a virtual experience while gaming. The majority of the revenue in the global VR content market is generated through the sales of hardware devices, live viewing formats, and spectator content. The number of gamers who prefer VR over traditional gaming devices has increased, thanks to the growing benefits for VR headsets equipped with sensors, which offer synchronized sound and sight. The introduction of smartphone-integrated VR headsets is the latest trend in this market. Samsung and HTC are the leading manufacturers of such technologically advanced, portable, and stand-alone devices. Also, the declining costs of VR components such as sensors, cameras, and displays is propelling vendors to develop cost-effective products, thereby leading to the growth of the VR content market in the coming years.
In terms of geography, APAC is expected to witness the highest growth rate during the forecast period, owing to the increased adoption of VR in countries like China and Japan. Much of the region’s growth can be attributed to the large number of local and global players who are
Overview of the global public relations (PR) market
Market research analysts at Technavio predict the global public relations (PR) market to grow at a moderate CAGR of around 7% during the forecast period. PR can act as an effective reputation management tool for brands, politicians, public figures, NGOs, hospitals to leverage their strengths in shaping public opinion. The power to reach mass audience is one of the most predominant advantages of PR owing to their enhanced credibility. The importance of PR is increasing significantly across organizations which is helping them to position themselves better among stakeholders. Technavio estimates that an average PR campaign generates 8 times more credibility than an advertising campaign. In the recent times, the scope of public relations is witnessing a dynamic change where the PR professionals are not just responsible for media mentions but also provide a strategic aim to protect the reputation of their brands. One of the latest developments in this market is the growing popularity of digital PR campaigns that are viewed three times more than the traditional ones. These digital campaigns allow campaigners to track the performance and effectiveness of PR through real-time information, which helps companies to plan their future campaigns in a better way.
In terms of geography, the Americas accounted for the majority of the PR revenue in 2015 and will continue to dominate the market during the forecast period. The US alone accounted for around 75% of the total revenue in this region. The huge number of global vendors based in the US is one of the major factors contributing to the high market share of the Americas. The growing use of digital mediums, especially social media, will spur further growth of the market in the Americas in the coming years.
Overview of the global photo merchandising market
According to the analysts at Technavio, the global market for photo merchandising will grow impressively at a CAGR of almost 10% by 2020. A major factor leading to the growth of this market is the trend of mass retail participation. Improvements in the supply chain network have enabled retail distributors to act as a catalyst. Even in the digital age, a high percentage of consumers prefer buying goods from stores. The growing retail participation in the photo merchandising market provides consumers with an option to customize and inspect products and make necessary changes immediately. Retail stores play a very important role in product purchases as customers still consider the in-store buying experience as one of the key buying criteria when evaluating the exclusivity of the photo merchandise.
By 2020, North America will be the largest market for photo merchandising owing to the high disposable income of the populace in this region and the growing popularity of photo cards. Sending photo cards on different occasions is a tradition in the region, as photo cards account for more than 40% of revenue in the photo merchandising market. As of 2015, approximately 65% of total revenue in the global photo card market was generated from the North American region. However, it has also been observed that the scope for growth and innovations are minimal in the market as photo merchandising is already a large industry in this region.
Competitive landscape and key vendors
The global photo merchandising market is highly competitive as most vendors are continually competing against their rivals to gain a larger market share. Though the market has reached saturation in North America and Western Europe, the threat of new entrants cannot be
Overview of the global streaming media device market
Technavio’s market research analyst predicts the global streaming media device market to grow at a CAGR of more than 17% between 2016 and 2020. The growing integration of digital video content with streaming media devices will act as a major driving force for the growth of the global streaming media device market. Streaming media devices enable users to play movies and TV shows on TV. They allow users to improve and manage the media streaming for live or on-demand content. The integration of the digital video content with streaming media devices offers consumers the flexibility to watch the content of their choice at a convenient time. Streaming media devices also provide user-friendly navigation options such as a list of content, corresponding prices, and related content and topics.
Rising implementation of cloud services, which allows users to access a diverse range of pay-per-use computing sources, is the latest trend gaining traction in the market. Several firms in the digital video content market are adopting cloud computing services to improve portability, and enabling subscribed users to access digital content stored in remote servers, irrespective of the devices they use. The growing consumer inclination toward access-based approach, which allows subscribing to video libraries stored in the cloud has propelled streaming device manufacturers to invest in cloud computing services for higher revenues.
Competitive landscape and key vendors
Currently, intense vendor competition exists in the global streaming media device market.
The media and entertainment industry has always been at the forefront of technological innovation, as it is the only industry that touches almost every individual globally in one way or another. Investment in this industry is strong and it will continue to benefit from heavy investment for future growth.
Advertising agencies, entertainment news bureaus, and social media agencies are a just a few of the many types of organizations that make up the much larger media and entertainment industry. Paramount Pictures and Warner Bros., for example, are two large film studios that are contributing to the growth and development of the media and entertainment industry.
Technavio’s media and entertainment domain provides leveragable insights into the many facets of the media and entertainment industry and why it is important and thriving. Our portfolio of reports covers consumer electronics, gaming, the Internet and e-commerce, mainstream media and entertainment, and publishing and advertising.