Digital Content Creation Market - Forecast(2023 - 2028)
Digital Content Creation Market Report Overview
Digital Content Creation Market size is analyzed to grow at a CAGR of 9.5% during the forecast 2022-2027 to reach $24.1 billion by 2027. A file or information kept or released in a digital format is referred to as digital content. Text, audio and video files, graphics, animation, and photographs are all examples of digital material. Authoring, producing, and distributing digital information are all made easier using a digital content creation software comparison matrix. A content management system (CMS) is used to create, manage, and optimize your consumers' digital experiences. CMS is a piece of software that allows users to search volume, collaborate on the creation, editing, and publishing of digital content such as web pages and blog posts. Over the next few years, the global digital content creation market is expected to continue to rise. The expanding focus of businesses on customer enrollment and advertising over the internet, as well as the increasing use of smartphones and tablets, are the two primary factors driving the global Digital Content Creation market. Furthermore, an increase in company marketing budgets is a crucial driver leading the digital content development market forward. Document Imaging is the conversion of paper documents into bitmaps (digital images) via a scanning process and/or an electronic transfer procedure using a COLD application, and it is utilized in the development of digital content.
The report: “Digital Content Creation Industry Outlook – Forecast (2022-2027)”, by IndustryARC covers an in-depth analysis of the following segments of the Digital Content Creation Market industry.
- The Cloud segment is expected to grow at a CAGR of 40.4% during the forecast period 2022-2027. The public cloud segment's growth is primarily influenced by factors such as ease of deployment, flexibility, and a cost-effective pricing structure.
- During the forecast period, North America is expected to grow at the fastest CAGR of 21.3%. The proliferation of IoT-enabled devices, significant R&D investment in IoT, and the presence of important market participants are driving Digital Content Creation adoption in North America.
- The increased demand for system integrators is expected to accelerate the growth of the Digital Content Creation market. Digital content creation for social media platforms like Twitter, Facebook, and YouTube is growing, propelling the market forward.
- Adoption of voice search and AI are transforming the digital content development sector and are projected to drive market growth throughout the forecast period.
By Deployment, the Digital Content Creation Market has been segmented into Cloud, On-premises. The Cloud segment is expected to grow at a CAGR of 40.4% during the forecast period 2022-2027. The cloud segment's growth is primarily influenced by factors such as ease of deployment, flexibility, and a cost-effective pricing structure. The increasing investment in cloud infrastructure by developed economies such as the United States, China, the United Kingdom, Australia, and Canada is expected to fuel demand for cloud deployment options in the Digital Content Creation market. Industries are changing their business models and operational procedures as a result of digital transformation. In the digital content creation sector, cloud is being democratized for companies and individuals, allowing everyone to participate in the digital economy. Cloud has grown capable of handling the media & entertainment industry workloads, as producers find it easier to transmit stories more cooperatively. In May 2021, WPP Plc announced a partnership with Microsoft Corp. to transform creative content production, starting with the release of Cloud Studio, a cloud platform. The platform enables WPP's global network of ad agencies to generate campaigns from anywhere in the world.
Digital Content Creation Market Segment Analysis - By Industry Vertical
By Application, the Digital Content Creation Market has been segmented into Retail and E-Commerce, Government, Automotive, Healthcare and Pharmaceutical, Media and Entertainment, Education, Travel and Tourism, Others. The Media and Entertainment segment is expected to grow at a CAGR of 16.6% during the forecast period 2022-2027. In the digital content creation sector, the cloud is being democratized for companies and individuals, allowing everyone to participate in the digital economy. As creators find it simpler to communicate tales more cooperatively, the cloud has grown capable of handling workloads in the media and entertainment industry. Content marketing software has been widely adopted in the media and entertainment sector vertical. To satisfy shifting customer expectations, media and entertainment organizations are progressively implementing creative marketing technology to provide a better customer experience and personalized content. Artificial Intelligence (AI), analytics, and Machine Learning (ML) are examples of advanced technologies that assist marketers to streamline their marketing processes and implementing data-driven marketing strategies. Marketers can use the insights acquired from the analytics-based strategy to create effective marketing content for their customers. Content marketing software assists marketers in reducing the complications they confront while generating, publishing, and optimizing content. It also significantly reduces the time required to create and publish content.
Digital Content Creation Market Share Segment Analysis - Geography
By Geography, Digital Content Creation Market has been segmented into North America, Europe, APAC, South America, and RoW. During the forecast period, North America is expected to grow at the fastest CAGR of 21.3%. The region is a mature and well-established market with a good risk appetite and a desire for technical advancements, providing a multitude of chances for social media management vendors and service providers. The region is known for its large number of social media users and the importance of social media management solutions. The use of social media networks as a significant marketing and customer engagement tool for industrial verticals is expected to boost market revenue creation in the region. This region's growth can be ascribed to widespread adoption and penetration of digital content creation tools and services, as well as extensive use of these products in various end-use segments. In June 2021, Adobe Commerce introduced an AI-powered live search feature. Adobe Commerce retailers may give relevant and customized search results to their customers based on their needs.
Digital Content Creation Market Drivers
One of the primary factors driving the growth of the Digital Content Creation market is the increasing number of IoT devices in various application sectors:
The increased demand for system integrators is expected to accelerate the growth of the Digital Content Creation market. The number of IoT devices globally is set to rise from 13.8 Billion in 2021 to over30 Billion by 2025. Digital content creation for social media platforms like Twitter, Facebook, and YouTube is growing, propelling the market forward. In order to improve customer in-store experiences, software providers in the digital content creation business are increasing their R&D activities. For example, The Amazon GoTM stores, have set the bar for innovation in their interactive digital platform, which is known for its "grab and go" approach. As a result, prominent retailers in the digital content creation sector are experimenting with engaging marketing methods to attract customers to make repeat purchases. In June 2021, Ads creative studio was introduced by Google Marketing Platform. It is a unified system for creating advertisements that allows for the creation of captivating audio, display, and video adverts. Customers will be able to create and innovate adverts using an interactive, user-friendly user interface in Ads Creative Studio.
Adoption of voice search and AI are transforming the digital content development sector and are projected to drive market growth throughout the forecast period:
Personalization marketing, voice search, and AI are transforming the digital content development sector in the hospitality industry. As a result, the hospitality industry is predicted to grow in the digital content creation market and is embracing digital technologies at a rapid pace. As a result, hospitality marketers are concentrating on email marketing to generate leads and raise awareness within their target audience. According to a report, in the U.S alone, over 135 Million people use voice search technology. Targeted emails help stakeholders develop a personal relationship with customers, which leads to even more visits. SME growth is accelerating in high-growing areas such as Asia-Pacific (APAC) and the Middle East, contributing considerably to the expanding market. In this demographic, social media creation and management solutions are great since they allow marketers to communicate directly with their audiences across several social media platforms at a low cost. Marketing and sales strategies are increasingly heavily reliant on digital content generation software tools and service platforms. And, in nearly every business, digital marketing is now a critical, if not vital, component of every marketing department. The content developed through fiction has the potential to entertain the target audience. This is an extremely vital feature today, as internet consumers are quickly distracted and will not stay on any type of material for long. However, if a corporation can capture their attention and entertain them, it is likely that they will watch or listen to the entire content on their own, and even back for more. In June 2021, On its lightning platform, Salesforce introduced a new low-code tool for developers. This low-code app development and automation technology, as well as innovative elastic computing, is designed for interactive app development and automation. It includes AI-driven data protection, identity management, and capability development to assist teams in generating more revenue.
Digital Content Creation Market Challenges
The worldwide digital content creation market is being hampered by high service costs and the availability of free content development tools:
The high cost of services and the availability of free content creation tools are two key factors that are limiting the worldwide digital content creation market. Free content creation tools like Ubersuggest, INK, Others. The widespread availability of free content production tools is limiting the usage of digital content creation tools on a big scale. Furthermore, in light of numerous privacy concerns, certain governments have enacted regulations governing the distribution of digital content. Thus, the utilization of digital content tools in these nations is restricted, which is limiting the expansion of the market. Due to budgetary and technological constraints, end-users in some locations still prefer to employ traditional marketing approaches rather than adopt new technologies. It could have an impact on the uptake of content marketing software and services. The cost of writing a blog in the United States and the United Kingdom ranges from $200 to $750 for a 1000-word blog. The cost per word ranges from $0.30 to $0.90. In nations like India and the Philippines, the cost of creating blog material ranges from $100 to $300 for a 1000-word blog. Experienced writers charge between $0.10 and $0.50 per word.
Digital Content Creation Market Landscape
Technology launches, acquisitions, Partnerships and R&D activities are key strategies adopted by players in the Digital Content Creation Market. In 2021, the market of Digital Content Creation Market share has been fragmented by several companies. Digital Content Creation top 10 companies include
- Adobe Systems
- Corel Corporation
- Acrolinx GmbH
- Integra Software Services
- Quark Software
- In June 2021, On its lightning platform, Salesforce introduced a new low-code tool for developers. This low-code app development and automation technology, as well as innovative elastic computing, is designed for interactive app development and automation. It includes AI-driven data protection, identity management, and capability development to assist teams in generating more revenue.
- In June 2021, Ads creative studio was introduced by Google Marketing Platform. It is a unified system for creating advertisements that allows for the creation of captivating audio, display, and video adverts. Customers will be able to create and innovate adverts using an interactive, user-friendly user interface in Ads Creative Studio.
- In February 2020, M-Files Corporation partnered with ELITE, a provider of document management solutions. ELITE will work with companies across the United Kingdom to provide a solution for efficiently managing information and documents as part of its relationship with M-files. It plans to use M-Files' expertise to help its clients shift from outmoded network folder-based schemes to dynamic enterprise content management systems in industries like banking, retail, education, and manufacturing.
Relevant Report Titles:
Report Code: ITR 36676
Report Code: ESR 0695
Digital Media Production Software Market
Report Code: ITR 16108
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