According to the latest report by IMARC Group, titled "Digital Video Content Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global digital video content market size reached US$ 171.5 Billion in 2022. Digital video content is an electronic representation of moving visual images that are accessible through smartphones, tablets, laptops, and smart TVs. It includes television (TV) shows, music videos, movies, and advertisements that are viewed online through various digital platforms. It helps businesses increase their brand awareness and reach a wider audience online. It also facilitates businesses to build stronger relationships with customers by providing valuable information, entertaining content, and personalized experiences.
Global Digital Video Content Market Trends:
At present, the increasing penetration of high-speed internet, low cost WiFi services, and shifting consumer preferences towards over-the-top (OTT) media services, such as Netflix and Amazon prime are among the key factors positively influencing the market across the globe. In addition, the increasing prevalence of live streaming and the growing adoption of social media platforms to connect with audiences in real-time are creating a favorable market outlook. Apart from this, the escalating demand for data and analytics to create personalized video content that connects directly to individual users and helps improve engagement and drive conversions is fueling the market growth. Additionally, businesses are partnering with influencers to promote their products or services through sponsored content. Moreover, the increasing adoption of advanced video analytics tools for measuring engagement, tracking viewer attention, calculating conversion rates, and optimizing video content is strengthening the growth of the market. furthermore, the increasing adoption of advanced technologies, such as augmented reality (AR) and virtual reality (VR), to create immersive video experiences is stimulating the growth of the market. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 355.2 Billion by 2028, exhibiting a CAGR of 12.5% during 2023-2028.
- On the basis of the business model, the market has been segmented into subscription, advertising, download-to-own (DTO), and others.
- Based on the type, the market has been segregated into video-on-demand (VOD) and online video. At present, video-on-demand (VOD) exhibits a clear dominance in the market.
- On the basis of the device, the market has been classified into laptop, PC, mobile, and others.
- Region-wise, the market has been divided into North America; Europe; Asia Pacific; Middle East and Africa; and Latin America. Amongst these, North America enjoys the leading position in the market.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of the key players include Google LLC, Facebook, Inc., Amazon.com, Inc., Netflix, Inc., Snap Inc., Twitter, Inc., Apple Inc., Hulu LLC, and Youku Tudou Inc.
|Base Year of the Analysis
||Business Model, Device, Type, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||Google LLC, Facebook, Inc., Amazon.com, Inc., Netflix, Inc., Snap Inc., Twitter, Inc., Apple Inc., Hulu LLC and Youku Tudou, Inc.
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