Predicting the Market Share of the Global Halal Media Industry
DOI:
https://doi.org/10.58968/hs.v2i2.705Keywords:
Halal Media, Global Halal Industry, Forecasting, Time Series, Exponential SmoothingAbstract
The global halal media industry is a crucial subsector within the halal economic ecosystem, showing significant growth in line with the increasing global Muslim population and digital media penetration. This study aims to predict the development of total assets of the global halal media industry in the coming period using a time series forecasting approach. The data used are the total assets of the global halal media industry for the 2012–2017 period sourced from the IE Global Report. The forecasting methods applied include Trend Analysis, Exponential Smoothing with Trend, and Multiplicative Decomposition, with the assistance of QMV 3 software. The results show that all three methods produce relatively consistent growth projections, with low Mean Absolute Percentage Error (MAPE) values, ranging from 0.03 to 0.04. In 2019, total assets of the global halal media industry are estimated to be in the range of USD 228.75 billion to USD 230.61 billion. These findings indicate that the halal media industry has stable and sustainable growth prospects, thus potentially becoming a strategic pillar in the development of the global halal economy.
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