Even though it revealed a cooling in optimism, the latest Business Confidence Index (BCI) from the Mobile Entertainment Forum is projecting a $36 billion mobile media industry for 2010.

The Mobile Entertainment Forum is the global trade body of the mobile media and entertainment industry. It represents the leading companies throughout the entire mobile entertainment value chain, and works on behalf of its diverse membership to facilitate industry growth, shape regulation and deliver competitive advantage to its members.

Compiled by KPMG and capturing a year's worth of quarterly industry sentiment, the latest BCI points to a consistent positive growth for the mobile media and entertainment industry , with a cooling in optimism from Q3 2009.

Commented Andrew Bud, the Global Chair of MEF, "Since its launch in January 2009, the BCI has underlined the industry's ability to weather the storm of the recession and leverage the new opportunities presented by the proliferation of smartphones and digital economy business models. With the global economic recovery underway, the first aggregate results of the Annual BCI point to a toughened industry which has readjusted growth predictions from 33% growth in Q2, down to 24%."

KPMG found that the industry has had to adapt to the challenges of the global economic downturn, reducing annual growth projections. However it reported that there is optimism in the rise of applications, which look set to drive the industry forward as it continues towards recovery.

Added Rimma Perelmuter, MEF Executive Director, "By comparing each set of BCI findings, we have identified clear regional market variations between December 2008 and December 2009. Last year demonstrated significant growth in C&S America (up from a 2% share in December 2008 to 7% in December 2009), Africa & the Middle East (4% to 10%) and APAC (9% to 12%).

"These findings highlight a growth trend in market share across the Southern Hemisphere, but also a decline for Northern Hemisphere regions, particularly in North America and Western Europe. Looking forward to the next 12 months, general stability is projected across the global market which indicates a degree of market caution."