Digital video, and other forms of mobile entertainment, is still a growing market in the down economy, but a new Juniper Research report highlights the slowdown of growth in the market.

The report notes that the recession will cut mobile entertainment growth by nearly $13 billion over the next five years, with the best case scenario seeing the mobile entertainment market growing at an average annual rate of 15.2% over the next five years to reach $51.5 billion by the end of 2013.

Mobile television and other forms of mobile entertainment may be dealing with the recession like the rest of us, but the future of the industry is still one of growth and innovation. Last month, Mobile Marketing Watch’s Eydie attended the Future of Television West conference, where mobile entertainment was a hot topic.

Juniper Research believes that the market for mobile entertainment grew by around 28% in 2008 to an estimated $25.4 billion. The report notes that the rate at which the market grows in the short and medium term will be dependent to a significant degree on the length and depth of the economic recession.

Juniper includes mobile gaming, adult services, games, music, TV, user-generated content and mobile “infotainment” in the types of mobile entertainment it included in this report. Music remains the most successful segment in terms of revenue generation, despite the collapse of the ringtone market and games remains the second-largest segment.