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Digital Content market size is projected to reach US$ 241650 million by 2027, from US$ 161540 million in 2020, at a CAGR of 5.9% - Valuates Reports
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Trends Influencing the Global Digital Content Market
The rise in smart device connections
The availability of smart devices with myriad connectivity options has increased the consumption of digital content. As the pandemic struck people were cooped up inside their homes which resulted in a growing content viewing. Consumers are shifting towards smart TVs, laptops, computers for enjoying an immersive viewing experience. The devices provide seamless, personalized control over their digital content. This in turn is expected to boost the growth of the digital content market during the review period.
Innovations and largescale smartphone penetration
Digital media is booming as consumers and marketers shift towards the online world for their everyday entertainment use. The content delivery, engagement are being made easily accessible through faster connections, cheap data rates, and extensive mobile usage. Social networking sites and content creation software applications are being integrated rapidly to accelerate the reach of the industry. These factors will spur the growth of the digital content market in the subsequent years.
The popularity of OTT platforms
The surge in preference for OTT viewing with flexible subscription models has revolutionized the online content industry. Giants such as Netflix, Amazon Prime are coming up with unique content generating and viewing services to cater to the mass audience. On the other hand, youtube is expanding its video streaming platform along with providing TV services to capture the attention of its target audience. Watching videos, music, playing games, have become easy with quick access within the comfort of your home. Hence the digital content market will continue to develop in the near future.
eCommerce sector growth
Online purchase sales are doubling at a rapid pace. Brands are investing heavily to increase their online presence for converting leads into qualified sales. The internet has become the busiest marketplace with buyers and sellers interacting continuously with each other. Products sell only if reliable and consistent content is available in the form of images, instructional videos, reviews, and descriptions. Hence online media and content are the future moving ahead which will drive the growth of the digital content market.
Digital Content Market Share Analysis
Based on type, games are expected to dominate in the digital content market share with 50% penetration during the forecast period. Based on application, the smartphones segment will maintain dominance in the digital content market share. Based on region, Asia Pacific will provide lucrative opportunities for growth in the digital content market share with 35% followed by Europe and North America with a total of 55%.
Digital Content Market by Type
Movie and Music
Game
Education
Digital Publication
Others
Digital Content Market by Application
Smartphones
Computes
Tablets
Smart TV
STB& Analogue TV
Non-network Consumption Device（CD-Player，game console，etc）
Get detailed report - https://reports.valuates.com/market-reports/QYRE-Othe-2D382/digital-content
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