Global Film And Video Market Expected to Reach $5.14 Billion in 2028, With Continued Growth Forecasted As Per The Business Research Company's Film And Video Global Market Report 2024
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LONDON, Feb. 14, 2024 (GLOBE NEWSWIRE) -- As per The Business Research Company’s Film And Video Global Market Report 2024, the film and video market is set to witness significant growth in the coming years, according to the latest *Film And Video Global Market Report 2024*. The film and video market, which was valued at *$285.62 billion in 2023*, is projected to grow at a compound annual growth rate *(CAGR) of 6.5%* to reach *$304.17 billion by 2024*.*Driving Forces Behind Market Growth*
The film and video market is poised for strong growth, fueled by several key factors. The increasing penetration of smartphones and tablets worldwide is a major driver, enabling consumers to access video content on-the-go. With 4.74 billion smartphone users estimated globally in 2024, and expected to reach *$5.14 billion by 2028*, the demand for mobile-friendly video content is expected to soar.
Moreover, the integration of autonomous drones in film and video production is revolutionizing the industry. These drones offer filmmakers enhanced capabilities, cost-effectiveness, and the ability to capture dynamic aerial shots without the need for traditional equipment like cranes and cable cams.
*Learn More In-Depth On The Film And Video Market *
*https://www.thebusinessresearchcompany.com/report/film-and-video-global-market-report*
*Segmentation and Regional Insights*
The film and video market, as outlined in the report, is segmented by –
1) By Type: Film And Video Production, Film And Video Distribution, Post-Production Services, Film And Video Theatres, Other Film And Video Industries
2) By Genre: Action, Horror, Comedy, Documentary, Drama, Others
3) By Application: Film Company, Film Studio, Other Applications
Among these, film and video production emerged as the largest segment, accounting for 76.07% of the total film and video market in 2023.
Regionally, North America led the market in 2023, followed by Western Europe and Asia Pacific. However, the film and video market report forecasts the Middle East and Africa to be the fastest-growing regions, with anticipated CAGRs of 13.91% and 11.69%, respectively.
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The *Film And Video Global Market Report 2024* provides invaluable insights for industry players looking to capitalize on emerging opportunities and navigate market challenges. By understanding market dynamics, segment trends, and regional forecasts outlined in the report, businesses can strategically position themselves for growth.
For film studios, production companies, and other stakeholders, leveraging the insights presented in the report can inform decision-making processes, drive innovation, and ultimately, enhance competitiveness in the global film and video market.
*Film And Video Global Market Report 2024* by The Business Research Company provides insights on the film and video market size, film and video market segments, film and video market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
The Business Research Company has published over 7,500+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
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