|The mobile phone industry is set to reach $47billion in value in the next three years according to research.|
The Juniper Research project has estimated that the total global mobile entertainment market is currently worth over $17billion and a steep rise is expected.
The analyst firm forecasts this to grow to $47 billion by 2009 and $77 billion by 2011, as broadcast mobile TV and mass market casual games really take off.
The global market will be dominated by the Asia Pacific and European regions. Over the whole period 2006 to 2011, Asia Pacific is forecast to contribute 37% of global mobile entertainment revenues and Europe 35%.
Mobile music is currently the largest sector of mobile entertainment and 80% of mobile music revenues come from ringtones.
Bruce Gibson, Senior Consultant at Juniper Research, said, 'There are tremendous revenue opportunities for all value chain participants in mobile entertainment over the next few years. Busy lifestyles in both developed and developing markets means that consumers will have to grab entertainment and relaxation as and when they can.'