The global e-commerce books, movies, music, and games market size is expected to reach USD 220.9 billion by 2028, according to a new report by Million Insights. The market is expected to expand at a CAGR of 3.9% from 2021 to 2028. This can be attributed to growing demand for books and Blu-ray discs from developed economies.
The e-commerce division was already flourishing but now, online shopping has gone into hyper-growth. Businesses are undertaking the same in order to meet the demand and stay afloat, as more and more buyers move their consumption online, which in turn, led to are markable impact on the market. Also, it has been clear that shoppers are moving online for products and necessities they want for a lifestyle in isolation.
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Additionally, the increasing standard of living, and rising per capita income, in the developing nations are catering to a rise in demand for these items on e-commerce platforms. Also, people are stocking up on reading material to retain them engaged at home. Also, there has been an increase in demand for music CDs as people find both comfort and passion in playing and listening to music during isolation. All these factors are expected to drive the growth of this market in the coming years.
The DVDs and Blu-ray discs type segment is projected to show steady growth in the market during the forecast period. This growth is credited to the accumulative demand for these products in developed nations such as Germany and the U.K. Growing popularity of 4K television sets and increasing demand for high definition content are anticipated to drive the growth of this segment during the forecast period.
North America is expected to show lucrative growth in this market during forecast period. The reduced rates of products on e-commerce platforms are appealing to shoppers to choose them over in-store purchases across the region. The books segment sales contribute more to this market in North America.
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E-Commerce Books, Movies, Music, And Games Market Report Highlights
• Europe is expected to witness a CAGR of 4.1% from 2021 to 2028 owing to rising demand for books from developed nations such as the U.K. and Germany
• The books type segment accounted for the highest revenue share of 40.0% in 2020 due to rising demand from developed regions
• Asia Pacific dominated the market and accounted for a revenue share of over 35.0% in 2020 due to rising demand for books, DVDs, Blu-ray discs, and computer games owing to the growing inclination of millennials towards these products
E-Commerce Books, Movies, Music, And Games Market Segmentation
Million Insights has segmented the global e-commerce books, movies, music, and games market on the basis of type and region:
E-Commerce Books, Movies, Music & Games Type Outlook (Revenue, USD Million, 2017 – 2028)
E-Commerce Books, Movies, Music & Games Regional Outlook (Revenue, USD Million, 2017 – 2028)
List of Key Players of E-Commerce Books, Movies, Music, And Games Market
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