The initial round of research indicates that data is available on the size of the entertainment and technology market, as well as on the value of their subsectors. However, it is limited on the segmentation of the marketing industry and the value of some of its subsectors.
- The market size of the global information technology industry was $7.85 trillion in 2020.
- It was expected to grow to $8.37 trillion in 2021.
- The major subsectors of the market are IT services, computer hardware, telecom, and software products.
- The global computer hardware market size was worth $862.93 billion in 2020.
- The global telecom market was valued at $2.56 trillion in 2020.
- The software products market size was $930.93 billion in 2020.
- Using a CAGR calculator, we calculated that the IT services market was worth about $1 trillion in 2020, based on the data that it was supposed to grow at a CAGR of 8.02% to reach $1.12 trillion in 2025.
- According to Statista, the market size of the global entertainment and media industry was $2 trillion in 2020. It was expected to grow to $2.2 trillion in 2021.
- The report by Market Research Future predicted that the market will reach $5.1 trillion in 2030, growing at a CAGR of 8.9%.
- Using a CAGR calculator, we calculated the 2020 value, which would be $2.2 trillion.
- The US entertainment and media industry is the largest globally, with market size of $717 billion.
- According to Mobility Foresights, the major subsectors are filmed entertainment, music, video games, OTT platforms, and internet advertising.
- Based on the report by PwC, which was included as a potentially helpful source, key subsectors are cinema, traditional TV and video, OTT video, gaming and eSports, and internet advertising.
- The total advertising spending in 2021 was $649.22 billion globally.
- The ad spending in the US in 2020 was $240.25 billion.
- According to Statista, marketing services was a $475 billion industry in 2021.
- According to the American Marketing Association, key types of marketing are influencer marketing, relationship marketing, viral marketing, green marketing, keyword marketing, guerilla marketing, outbound marketing, inbound marketing, search engine optimization, and content marketing.
- Asana provides ten most common subtypes of traditional marketing (personalized marketing, direct mail, partner marketing, telemarketing, PR, word-of-mouth, stealth marketing, brand marketing, and cause marketing). It also lists seven key types of digital marketing (inbound marketing, search engine marketing, content marketing, social media marketing, email marketing, and mobile marketing) and two types of event marketing (experiential and interactive).
Marketing Subsectors - Market Sizes
- The size of the global PR industry was around $92.55 billion in 2021.
- The global direct mail market size was $58.41 billion in 2020. It was forecast to grow to $61.14 billion in 2021.
- The outbound telemarketing market size was $10.23 billion in 2020.
- The market sizes of outbound and inbound marketing are only available in paywalled reports.
- The search engine optimization market size was $46.7 billion in 2020.
- The global social media management market size was $14.4 billion in 2020.
- The global email marketing market was valued at $7.5 billion in 2020.
- The value global mobile marketing market was estimated at $66.42 billion in 2020.
- The size of the event marketing industry is not available but the virtual event marketing sector alone was a $94.04 billion market in 2020.
- The global digital marketing market was valued at $305 billion in 2020.
- Data on other subsectors is not publicly available.
Summary of Findings
- Within the first hour, we were able to provide the available data on the market size and segmentation for the requested markets, as well as market sizes for some of the subsectors.
- We recommend continuing the research to provide more information on the segmentation and value of each subsector for the entertainment market.
- Data on the size and segmentation of the marketing industry, as well as the value of each subsector, was limited. However, we collected and presented the most relevant findings.
- We can provide 5-7 insights on the industry to provide additional context around its state and direction.
- We focused on global data, providing US figures when they were readily available. The availability of US-specific figures is very limited. Also, the report provided as a helpful source also has a global scope. We will assume the same geographic scope for further research.