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Digital Content Market to grow by USD 927 Billion (2024-2028), driven by digital transformation across sectors, Report on how AI is driving market transformation - Technavio
Saturday, December 14, 2024
NEW YORK, Dec. 9, 2024 /PRNewswire/ -- Report with the AI impact on market trends - The global digital content market size is estimated to grow by USD 927 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 15.7% during the forecast period. Digital transformation across sectors is driving market growth, with a trend towards increased utilization of social media. However, limitation in content availability poses a challenge. Key market players include Activision Blizzard Inc., Alphabet Inc., Amazon.com Inc., Apple Inc., AT and T Inc., Baidu Inc., Bloomberg LP, Comcast Corp., Deezer SA, DISH Network L.L.C., Electronic Arts Inc., Gannett Co. Inc., iHeartMedia Inc., Microsoft Corp., Netflix Inc., Nine Entertainment Co. Holdings Ltd., Roku Inc., Sony Group Corp., Tencent Holdings Ltd., and The Walt Disney Co..
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Digital Content Market Scope
Report Coverage
Details
Base year 2023
Historic period
2018 - 2022
Forecast period
2024-2028
Growth momentum & CAGR Accelerate at a CAGR of 15.7%
Market growth 2024-2028
USD 927 billion
Market structure
Fragmented
YoY growth 2022-2023 (%) 13.76
Regional analysis
North America, Europe, APAC, South America, and Middle East and Africa
Performing market
contribution North America at 41%
Key countries
US, China, India, UK, and Germany
Key companies profiled Activision Blizzard Inc., Alphabet Inc., Amazon.com Inc., Apple Inc., AT and T Inc., Baidu Inc., Bloomberg LP,
Comcast Corp., Deezer SA, DISH Network L.L.C., Electronic Arts Inc., Gannett Co. Inc., iHeartMedia Inc.,
Microsoft Corp., Netflix Inc., Nine Entertainment Co. Holdings Ltd., Roku Inc., Sony Group Corp., Tencent
Holdings Ltd., and The Walt Disney Co.
Market Driver
The digital content market is experiencing significant growth due to the increasing importance of social media as a data source for organizations. Content developers and advertisers are utilizing social computing tools for branding, marketing, knowledge management initiatives, and recruitment. Social networking sites, such as Twitter and Facebook, are being used to reach new audiences and gain public feedback. Sentiment analysis and text analytics are driving the inclusion of social media in business processes. Digital content providers are also using social media and internet searches to screen potential talent and understand consumer preferences. Brands and retailers are investing heavily in mobile advertising to reach consumers on their devices. Personalized services, such as location-based technology, are helping vendors target audiences with customized offers. The expansion in content variety is essential for digital content vendors to meet consumer demands for high-quality, meaningful, and relevant content. VR and 360° video content and images are the latest advances in the market, with VR being a popular trend in digital entertainment. These technologies are driving growth in the global digital content market during the forecast period.
In today's digital landscape, social media platforms continue to dominate as key channels for content distribution. Advanced technologies like augmented reality (AR), virtual reality (VR), and mixed reality are revolutionizing content production, offering experiences for consumers. The tools segment is thriving, with solutions for content authoring, graphic design, video editing, web development, and more. Component analysis is crucial for selecting the right tools, considering factors like cloud-based or on-premise deployment, large enterprise IT needs, and cybersecurity. With the rise of cloud computing, zettabytes of data are being generated daily, fueling the demand for content. Lockdown restrictions have accelerated internet usage, leading to increased streaming on platforms like Spotify. IRights management is essential for protecting intellectual property. Figma, Zippia, and SEO tools are popular choices for content creators. Comprar Acciones indicates investing in stocks related to this industry. Textual content remains king, but visuals are gaining ground. Stay ahead of the curve with the latest trends.
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Market Challenges
-- Digital content is a valuable asset and a significant challenge for
providers. Acquiring rights to distribute content on new platforms is a
hurdle, requiring a deep understanding of target markets and adherence
to local regulations. Content owners must balance relationships with
exhibitors and broadcasters to avoid litigation. Competition among
digital content service providers is intense, with players competing on
price, features, and functionality. The digital content market is
fragmented, with large and niche players. Data space requirements exceed
current availability, necessitating content selection and bandwidth
optimization. Scalability increases storage costs, and content
classification can save on transfer costs. These limitations may hinder
market growth during the forecast period.
-- In today's digital age, enterprises of all sizes face challenges in
creating high-quality digital content for their target audiences.
Graphical, audio, and video content are essential for engaging customers
on various digital platforms. However, producing such content can be
time-consuming and resource-intensive for medium and large-sized
enterprises. Google LLC dominates the digital landscape with its search
engine and various content consumption tools like YouTube and Google
Podcasts. Industries like retail and ecommerce, automotive,
pharmaceutical, entertainment, travel and tourism, and more, rely
heavily on digital content to reach their customers. Content creators
use tools like Quark Software's QuarkXPress 2022 to produce
professional-grade digital content. AI and machine learning are
increasingly being used to create personalized content, making social
media usage a crucial part of digital strategies. Brands strive for
online presence through branded content on digital media, focusing on
customer engagement and brand loyalty. Budgets for digital content
creation continue to grow, with video content being a major investment
area. Traditional text-based content still holds importance, but
businesses need to adapt to the changing digital landscape to stay
competitive. Sound Chart is an excellent example of a platform catering
to the audio content needs of businesses.
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Segment Overview
This digital content market report extensively covers market segmentation by
1. Content Type
-- 1.1 Digital video content
-- 1.2 Digital game content
-- 1.3 Digital text content
-- 1.4 Digital audio content
2. Application
-- 2.1 Smartphones
-- 2.2 Computers
-- 2.3 Smart TV
-- 2.4 Others
3. Geography
-- 3.1 North America
-- 3.2 Europe
-- 3.3 APAC
-- 3.4 South America
-- 3.5 Middle East and Africa
1.1 Digital video content- The digital video content segment dominates the global digital content market due to its large market share. Leading players like Netflix, Amazon, and Hulu are enhancing their offerings and experimenting with new business models. The demand for over-the-top (OTT) video services has various subscription options and premium content. High-speed broadband and telecom network infrastructure advancements, including 4G and 5G technologies, are significant growth drivers in emerging economies. In developed economies, the popularity of the subscription-based model fuels the segment's growth. Internet access expansion, the rise in connected devices, and user-friendly online video catalogs contribute to digital video content adoption. Social media video posts attract more inbound links than text posts, making video content an effective marketing tool. Short-form video services like Vine and Instagram's 15-second format cater to modern consumers' attention spans. The shift to online video content consumption is a trend that will continue, with attractive video catalogs and competitive pricing from providers. New vendors entering the market and the focus on premium OTT content fuel competition and consumer awareness. Entertainment and infotainment, food, travel, fashion, gaming, spiritual content, sports, and live events are popular video content categories, driving consumer interest. (Word count: 100)
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Research Analysis
In the digital age, IT has become a crucial aspect of our lives, with cloud computing playing a significant role in storing and managing data. Amidst lockdown restrictions, the internet has become a lifeline, enabling US to stream music on platforms like Spotify, work remotely, and connect with others through social media. Cybersecurity Ventures predicts that by 2025, 95% of businesses worldwide will be using cloud services, leading to an increase in data usage, reaching zettabytes. Content creators have seized this opportunity, producing high-quality content in various formats such as blog posts, videos, podcasts, and infographics for digital platforms. Tools like Figma, Zippia, and SEO tools have made content creation more accessible and efficient. Digital strategies are essential for businesses to reach their target audiences effectively in this dynamic digital landscape.
Market Research Overview
In the digital age, IT has revolutionized the way businesses connect with their target audiences. Cloud computing has enabled the storage and delivery of vast amounts of digital content, including zettabytes of textual, graphical, audio, and video data. The lockdown restrictions have further accelerated the shift towards online platforms, with streaming services like Spotify and enterprise-sized, medium, and large businesses adopting digital content and digital platforms for blog posts, videos, podcasts, infographics, social media, and more. Content creators are utilizing advanced tools like Figma, Zippia, SEO tools, and AI-driven machine learning to produce high-quality, personalized content for their audiences. Google LLC dominates the digital landscape with its search engine and various digital media offerings. Retail and ecommerce, automotive, pharmaceutical, entertainment, travel and tourism, and other industries are investing heavily in digital content production to boost customer engagement, brand loyalty, and online presence. The tools segment includes content authoring, graphic design, video editing, web development, and more. Deployment modes include cloud-based and on-premise solutions. Advanced technologies like augmented reality, virtual reality, and mixed reality are also transforming the way businesses create and deliver experiences to their customers. Stay tuned for the latest trends and insights in the digital content market.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
-- Content Type
-- Digital Video Content
-- Digital Game Content
-- Digital Text Content
-- Digital Audio Content
-- Application
-- Smartphones
-- Computers
-- Smart TV
-- Others
-- Geography
-- North America
-- Europe
-- APAC
-- South America
-- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio
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