New Delhi: The country will emerge as the fastest growing market in the global entertainment and media (E&M) space over the next five years, with a size of over Rs100,000 crore by 2011, a PricewaterhouseCoopers (PwC)study says.

Over the same period, the global E&M industry will grow at a compound annual rate of 6.4 per cent, to $2 trillion, global consultancy firm PricewaterhouseCoopers said in its study.

While identifying Asia-Pacific as the fastest-growing region, PwC said the rapid growth in this region would be led by India and China.

"India will be the fastest growing (country) over the next five years at 18.5 per cent CAGR while China will continue to record double-digit annual gains that will average 16.8 per cent CAGR," it said.

The global outlook projects Indian E&M industry revenue at Rs1,20,871 crore in 2011, against Rs51,715 crore in 2006, according to the study. Internet advertising is expected to emerge as the fastest growing segment over the next five years, driven by the growing number of Internet users, PwC analysts said.

The average spending in Asia Pacific would be at 9.6 per cent, the fastest for any region, moving up to $470 billion in 2011 from $297 billion in 2006.

The report also points out that the US, the largest market in the world, would grow at the slowest pace.