(MENAFN- PR Newswire) NEW YORK, April 16, 2024 /PRNewswire/ -- The global
digital video content market size is estimated to grow by USD 464.62 bn from 2023 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 14.84% during the forecast period. North America held the largest share of the global market in 2022, and the market in the region is estimated to witness an incremental growth of
43%.
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![Technavio has announced its latest market research report titled Global Digital Video Content Market 2023-2027]( "Technavio has announced its latest market research report titled Global Digital Video Content Market 2023-2027")
Technavio has announced its latest market research report titled Global Digital Video Content Market 2023-2027 Major Players in the Market
Numerous companies are capitalizing on this growing trend by implementing strategic measures such as alliances, partnerships, mergers, and acquisitions. Among the notable players in the cheese based snacks market are:
Alphabet Inc., Amazon Inc., Apple Inc., AT and T Inc., Chicken Soup for the Soul LLC, Comcast Corp., Lions Gate Entertainment Corp., Meta Platforms Inc., Netflix Inc., One Day Video Ltd., Roku Inc., Snap Inc., Sony Group Corp., Stir Fry Content Kitchen, The Walt Disney Co., Twitter Inc., Verizon Communications Inc., Viacom18 Media Pvt Ltd., Walmart Inc., Youku Tudou Inc.
Analyst Review
The Digital Video Content Market encompasses a vast array of media formats, including TV shows, movies, music videos, advertisements, and educational content. These digital offerings are accessible via smartphones, tablets, laptops, and smart TVs, catering to the younger population's preferences for Text, Audio, Video, Graphics, Photographs, and AI-driven IT solutions. Cloud computing enables the delivery of on-demand services like Pay TV, Over-The-Top (OTT) platforms, and Subscription-based models. Advertisers leverage these digital platforms to reach consumers through E-newsletters, Blog posts, and personalized mobile ads. The fusion of IT, Music, and various multimedia formats continues to revolutionize the way we consume and engage with content.
Key Market Drivers
The Digital Video Content Market is experiencing significant growth due to the increasing demand for Over-The-Top (OTT) services. Sectors such as the Hotel industry, Media and Entertainment, Automotive, Healthcare and Pharmaceutical, and Education are leveraging personalization marketing through OTT platforms. Technological advancements, including Voice search and the expansion of 4G, facilitate access to digital video content on personal computers, mobiles, smartphones, tablets, laptops, and smart TVs. Strategic partnerships and acquisitions among vendors, including BBC and Discovery Communications, enable the provision of subscription-based services featuring TV shows, movies, music videos, advertisements, and educational content. The younger population's preference for digital media and the shift from Pay TV to OTT services further fuel market expansion. However, challenges such as internet proliferation and piracy of content persist.
Challenges and Opportunities
The digital video content market experiences significant growth, driven by social media platforms, live streaming videos, and various forms of multimedia content such as Text, Audio, Video, Graphics, and Photographs. AI and IT innovations, including Cloud computing, facilitate content creation and distribution. E-newsletters, Blog posts, and B2B communication are essential tools for promotion. Online traffic is a key performance indicator, with the hotel industry, personalization marketing, voice search, and On-premise and Cloud solutions leveraging video content. Sectors like Automotive, Healthcare and pharmaceutical, Media and entertainment, Pay TV, Over-The-Top (OTT), and Advertising invest heavily in video content. Subscription models and personal computers, mobiles, educational content, and Music cater to diverse audiences. However, the market faces challenges due to internet proliferation and piracy of content, particularly through illegal torrents and services like BitTorrent, which undermine Subscription-based business models.
The digital video content market experiences robust growth, fueled by OTT service providers offering TV shows, movies, music videos, advertisements, and more on digital platforms. Smartphones, tablets, laptops, and smart TVs are popular devices for accessing this content, particularly among the younger population. Pay-TV providers expand their offerings through cross-platform partnerships, enabling subscriptions to SVOD and AVOD services like Netflix and Prime Video. Digital media consumption continues to surge with the expansion of 4G and the rise of cable TV alternatives. Entertainment purposes and promotional uses of digital video services are prevalent on social media platforms, live streaming videos, and text, audio, video, graphics, and photograph-rich content. AI, IT, Cloud computing, e-newsletters, blog posts, B2B communication, and online traffic further fuel the market's growth. Industries like the hotel industry, automotive, healthcare and pharmaceutical, media and entertainment, and education also leverage digital video services for personalization marketing, voice search, on-premise, and cloud solutions.
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Market Overview
In the dynamic and evolving landscape of digital media, the Video Content Market plays a pivotal role. This market encompasses a plethora of elements, including Technology, Video, Shows, Movies, Music, Advertisements, and Platforms. Technology serves as the backbone, enabling the creation, distribution, and consumption of digital video content. Platforms like YouTube, Vimeo, and Netflix provide a space for content creators to monetize their Movies, Shows, and Advertisements through various monetization methods. The Content itself is diverse, ranging from educational to entertainment, and caters to a global audience. The Digital Video Content Market is a thriving industry, driven by innovation, consumer demand, and technological advancements. It's a world where Creativity meets Technology, and where Entrepreneurship and Artistry converge.
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.
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Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
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SOURCE Technavio
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