Published Date: 28-Feb-2023
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According to a new report, published by KBV research, The Global Digital Content Creation Market size is expected to reach $50.2 billion by 2028, rising at a market growth of 13.2% CAGR during the forecast period.
The Services segment is showcasing a CAGR of 14.2% during (2022 - 2028). The segment's expansion results from the fact that users must frequently maintain and service the software and apps that businesses provide them.
The Video segment acquired maximum revenue share in the Global Digital Content Creation Market by Format in 2021 thereby, achieving a market value of $22.2 billion by 2028. This might be attributed to the rising popularity of social media platforms, which allow users to watch and share videos online. Furthermore, due to rising smartphone sales and an increase in the number of devices that can handle digital media, there is a spike in demand for digital video material, particularly among the younger generation.
The On-Premise segment has shown the growth rate of 10.9% during (2022 - 2028). This is because on-premise digital content production programs like Blender, Simplygon, and Adobe Premiere Pro are increasingly being used. Several companies throughout the globe continue to use on-premise deployment strategies because of the security benefits they provide. In addition, end customers with strict regulations often choose for an on-premise deployment strategy.
The Large Enterprises segment is leading the Global Digital Content Creation Market by Organization Size in 2021 thereby, achieving a market value of $30.9 billion by 2028. This is because there are so many well-known companies offering services for content production, like Microsoft Corporation, Adobe, Google LLC, Figma, and many more. In addition, the industry is growing in this sector due to significant corporations' extensive usage of digital material to develop more robust public relations.
The Media & Entertainment segment is poised to grow at a CAGR of 13.6% during (2022 - 2028). The expansion of OTT in the Asia Pacific area will accelerate the rise of digital content production in the media and entertainment sector. The online content industry has changed OTT watching with flexible subscription models and has become more popular. Giants like Netflix and Amazon Prime are developing original content creation and streaming platforms to reach a broad audience. In contrast, YouTube is enhancing its video streaming platform and offering TV services to attract its intended audience.
The North America market dominated the Global Digital Content Creation Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $17.4 billion by 2028. The Europe market is exhibiting a CAGR of 13% during (2022 - 2028). Additionally, The Asia Pacific market would showcase a CAGR of 14% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/digital-content-creation-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Adobe, Inc., Corel Corporation (KKR & Co., Inc.), MarketMuse, Inc., Quark Software, Inc. (Parallax capital partners, LLC), Integra Software Services Pvt. Ltd., Acrolinx GmbH, Google LLC (Alphabet, Inc.), PicsArt, Inc., Microsoft Corporation, and Canva Pty Ltd.
By Organization Size
Unique Offerings from KBV Research
North America Digital Content Creation Market size & Opportunities 2022-2028
Europe Digital Content Creation Market & Growth Forecast 2022-2028
Asia Pacific Digital Content Creation Market Share & Industry Outlook to 2028
LAMEA Digital Content Creation Market Growth, Trends & Forecasts 2022-2028