SAN FRANCISCO, May 6, 2020
SAN FRANCISCO, May 6, 2020 /PRNewswire/ -- The global digital content market size is expected to enlarge by the forecast period. Increased consumption of digital content in various formats supported by penetration of smartphone devices with high internet speed has enabled consumers to access media and entertainment by discretion. Lately, in the recent years, the digital media market has grown tremendously. For instance, Amazon, Apple TV, Boxee and Netflix are some of the major examples of entertainment hub. Conspicuously, mobile devices have taken over in the past few years and the market has seen an unprecedented growth in the past few years. This makes easier for consumers to access internet, and music & video content in one go. Further, this growth is attributed to the popularity of digital media and entertainment services. For instance, video content dominates the data consumption but with ongoing improvements, internet supports voice technology to a far extent resulting in a huge development of audio and video content with graphics support. OTT platforms such as subscription-based channels and YouTube have catalyzed the growth for audio/visual data streaming.
From the marketing and advertising perspective, marketers are now shifting their focus on digital media and spending heavily on digital mediums. In the past few years, the global spending on digital media has grown significantly. Advertising trends and shift in budget allocation methods has undergone a paradigm shift and it is also anticipated that the global spending may cap up to 40% by 2022 that is mainly due to high adoption of digitization for advertising and marketing. Objectively, the growing investment by stakeholders, local content providers, platform providers and telecom operators have a significant role to play by investing in the development of content ecosystems that helps in accessing a wider consumer base.
The market of digital content is driven by increase in connected devices and significant demand for unique content platforms. For instance, Netflix platform offers a huge spectrum of movies, documentaries and plays from all across the world. Therefore, rising popularity of OTT platforms with simplified payment options have been driving the market development. Digital content for commercial purpose is gaining a huge momentum owing to rise in trend of personalized content driven by user preference. On the other hand, user data collection techniques have improved that helps content providers to streamline content channels for users based on accumulated data.
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Globally, the landscape for digital content is uneven i.e. it operates in full-swing in the markets of U.S., Canada, Europe, etc. while it is in intermediate stages in India Philippines and some parts of Asia. Improvement in content quality is one of the biggest factor for market development in these countries. However, factors such as lack of channel standardization, dearth of technical competent workforce and growing competition inhibit the market growth in the forecast span. By type, the market of digital content can be segmented as games, education, digital publication and movie and music. Digital publication registered the largest growth in the recent years. With the growing wave of digitalization, digital publication is gaining a huge attention and it is expected to maintain a huge popularity in the following years.
By application, the digital content market can be segmented as computers, smartphones, Smart TV, Tablets, and non-network consumption device. Smartphones held the largest share in the recent years attributing to growing popularity and increase in content consumption through applications. The trend of Smart TV is gaining a huge popularity owing to the hardware improvements and picture quality. By region, the digital content industry can be segmented as North America, South America, Europe, Asia Pacific, Middle-East and Africa. North America and Europe are likely to gain a significant market share in the global scenario attributing to the rise in demand for digital channels and increase in consumption rate. Moreover, increase in revenue share through OTT platforms is contributing to the popularity of digital channels as well as helping in enlarging customer reach. Additionally, the regional market is influenced by annual growth in web content driven by high conversion rates. Some of the key players in the digital content market are Tencent, Sony, Google, Apple, Amazon, Facebook, Nexon, Warner Bros, DeNa, NCSoft, Deezer and Square Enix. Major players are adopting strategic collaboration and alliances to support business expansion and strengthen their market position.
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This report provides detailed historical analysis of global market for Digital Content from 2013-2018, and provides extensive market forecasts from 2019-2028 by region/country and subsectors. It covers the sales volume, price, revenue, gross margin, historical growth and future perspectives in the Digital Content market.
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