Mobile is set to be the fastest growing media platform over the next five years, according to a new report by Informa Telecoms & Media, reports NetImperative. The global market for mobile entertainment is expected to reach $42.8 billion by 2010, nearly tripling from the current $15.8 billion.

Global revenues from mobile games are predicted to rise from $2.6 billion this year to $11 billion by the end of the decade, overtaking the music and adult-content categories. The number of mobile phones is set to climb from 1.8 billion to 3 billion.

Multiplayer games could amount to over 20 percent of the mobile gaming market by 2010, but Informa warns that inadequate handsets will stifle mobile gaming. Also, mobiles will increasingly support MP3 audio, holding 50-60 full tracks, according to the firm's predictions.