The latest report by IMARC Group, titled “Digital Video Content Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, finds that the global digital video content market reached a value of US$ XX Billion in 2018. Digital video content refers to videos, movies, TV shows and advertisements which are streamed online. It is a convenient mode of entertainment which provides on-demand services to customers. It can be accessed through devices like mobile phones, laptops and tablets. As over-the-top (OTT) media services such as Amazon Prime Video, Netflix, Hulu and YouTube are gaining popularity among the young generation, they are augmenting the consumption of video content across the globe.
One of the major factors which are catalyzing the growth of the global digital video content market is the increasing penetration of the internet. In addition to this, due to the expansion of 4G and the emergence of 5G technology, internet speed is improving rapidly. The easy access to broadband and Wi-Fi services, along with the lowered costs of digital devices, has encouraged the users to shift to digital video services for entertainment purposes. Moreover, various TV channels are offering their programs on online streaming services, which has helped online platforms in taking over traditional cable TV. Apart from this, the robust growth of social media platforms has enabled users to share videos online. Further, several companies are making a shift from conventional modes of advertising to video advertisements on social media to capture the attention of the targeted audience. On account of these factors, the market is anticipated to expand at a CAGR of X%, reaching a value of US$ XX Billion by 2024.
- Based on the business model, the market has been categorized into advertising, subscription, download-to-own (DTO) and others.
- On the basis of the type, the market has been bifurcated into video-on-demand (VOD) and online video content. Amongst these, online video content represents the largest segment.
- Based on the device type, the market has been segmented into laptops, personal computers, mobiles and others.
- On the geographical front, the market has been segregated into North America, Asia Pacific, Europe, Middle East and Africa, and Latin America. Currently, North America holds the majority of the market share.
- The competitive landscape of the market has been analyzed in the report. Some of the key players operating in the market include Google, Facebook, Amazon, Netflix, Hulu LLC, Apple Inc., Twitter, Snap Inc. and Youku.
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