Dublin, April 24, 2023 (GLOBE NEWSWIRE) -- The "Digital Content Creation Market Size, Share & Trends Analysis Report By Component, By Content Format (Textual, Graphical, Video, Audio), By Deployment, By Enterprise Size, By End-user, By Region, And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global digital content creation market size is anticipated to reach USD 69.8 billion by 2030. The market is expected to expand at a CAGR of 13.5% from 2023 to 2030.
Companies Mentioned
- Adobe
- Corel Corporation
- MarketMuse, Inc.
- Quark Software Inc.
- Integra Software Services Pvt. Ltd.
- Acrolinx
- Google LLC
- PicsArt, Inc.
- Microsoft Corporation
- Canva
The increasing adoption of various technological advancements, such as AI-based applications, increase in the usage of smartphones and the internet, and cloud computing is expected to create growth opportunities for digital content creation tools and services in the global market.
In 2022, according to the IBM Global Adoption AI Index report, 35% of the firms reported using AI in their operations which was a four-point growth from 2021. The key factor for adopting AI was the accessibility that made AI simple to implement throughout the firm, moreover, various firms are also shifting to AI to help them enhance task automation and reduce costs.
The COVID-19 pandemic had a positive impact on the digital content creation market. A global increase in COVID-19 cases slowed the economy, and many corporations were shutting down as a result of partial or total lockdowns.
The growth in the usage of online platforms was driven by lockdowns as people were finding a different medium to entertain themselves during the pandemic, moreover, this caused an increase in the usage of online shopping and streaming platforms. For instance, according to a report by UNCTAD, the online e-commerce store Mercado Libre in Latin America sold two times more products in the second quarter of 2020 as compared to the same period in 2019.
Furthermore, the e-commerce platform Jumia in Africa reported a 50% growth in transactions during the first six months of 2020. Moreover, in 2020, according to a report by BCG, OTT subscriber growth increased by 60% due to the Covid-19 outbreak. The report stated that Indian customers paid more for the content they viewed during the pandemic.
Digital Content Creation Market Report Highlights
- In terms of component, tools dominated the market with a share of 73.7% in 2022. The segment is led by tools owing to their usage in digital marketing which will result in driving the use of digital content creation tools. The services segment is estimated to register a higher CAGR of 14.8% owing to the growth of AI adoption. In 2022, according to the IBM Global Adoption AI Index report, 50% the businesses witnessed benefits from automating their operations through the implementation of AI respectively.
- In terms of content format, video dominated the market with a share of 38.7% in 2022 and registered the highest CAGR of 14.4% in the forecast period. This is owing to the growth in the number of users who feel comfort in watching video content, for instance, according to a survey by google 79% of the respondents in the U.S. said that they found comfort and solace in consuming video content.
- In terms of deployment, the cloud segment dominated the market with a share of 74.7% in 2022 and registered the highest CAGR of over 13.9% in the forecast period. This is owing to the growth of cloud-based digital content creation tools such as Figma, Adobe Creativity Cloud, and several others. In 2021 according to the Design tool survey, 63% of designers preferred to use Figma as their primary tool.
- In terms of enterprise size, the large enterprise segment dominated the market with a share of 61.7% in 2022. In the large enterprise segment, firms are adopting AI at a faster rate. For instance, according to Adobe, four in ten organizations were planning to leverage AI, and in 2020 39% of companies in the large enterprises segment planned to invest in AI. Moreover, small and medium enterprises will register the highest CAGR of over 14.1% owing to the adoption of cloud computing services. According to a cloud computing statistics report published in 2022 by a computer software company, Flexera, the pandemic caused more than 30% of small and medium businesses to use cloud computing.
- In terms of end user, retail and e-commerce dominated the market with a share of 32.4% in 2022 owing to the growth of digital advertising spending in the retail industry, which would drive the creation of digital content. Furthermore, media and entertainment will register the highest CAGR of 14.9%. One of the factors responsible for its dominance is the growth in the OTT video market, according to research by ABI in 2020; the global OTT video market will reach USD 200 billion by 2024.
- The market was dominated by the North American region with a share of 33.8% in 2022, one of the key reasons being the dominance of the music industry in North America, as in North America, according to the Recording Industry Association of America, 83% of the revenue made by the American music industry in 2021 came from streaming services. Moreover, the Asia Pacific region will witness the highest CAGR of over 15.0% in the forecast period, as in July 2022, according to the GSMA report, the 5G subscribers increased by 67% in the developed region of Asia Pacific region respectively.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 182 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $25.6 Billion |
| Forecasted Market Value (USD) by 2030 | $69.8 Billion |
| Compound Annual Growth Rate | 13.5% |
| Regions Covered | Global |
Key Topics Covered:
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 Digital Content Creation Market Industry Outlook
3.1 Market Lineage Outlook
3.1.1 Parent market outlook
3.2 Market Size, Penetration, and Growth Prospect Mapping
3.3 Regulatory Scenario
3.4 Digital Content Creation Market - Market Dynamics
3.4.1 Market driver analysis
3.4.1.1 Growing preferences for cloud-based digital content creation tools and services
3.4.1.2 Growth in AI adoption
3.4.2 Market challenge analysis
3.4.2.1 Creating engaging and search-optimized content at regular intervals
3.4.3 Market opportunity analysis
3.4.3.1 Implementation of video content
3.5 Digital Content Creation Market - PEST Analysis
3.6 Digital Content Creation Market - Porter's Five Forces Analysis
3.7 Digital Content Creation Market COVID-19 Impact Analysis
Chapter 4 Digital Content Creation Market Component Outlook
4.1 Digital Content Creation Market Share By Component, 2021
4.2 Tools
4.2.1 Digital content creation tools market, 2017 - 2030
4.3 Services
4.3.1 Digital content creation services market, 2017 - 2030
Chapter 5 Digital Content Creation Market Content Format Outlook
5.1 Digital Content Creation Market Share By Content Format, 2021
5.1 Textual
5.1.1 Digital content creation textual market, 2017 - 2030
5.2 Graphical
5.2.1 Digital content creation graphical market, 2017 - 2030
5.3 Video
5.3.1 Digital content creation video market, 2017 - 2030
5.4 Audio
5.4.1 Digital content creation audio market, 2017 - 2030
Chapter 6 Digital Content Creation Market Deployment Outlook
6.1 Digital Content Creation Market Share By Deployment, 2021
6.2 On-Premise
6.2.1 Digital content creation on-premise market, 2017 - 2030
6.3 Cloud
6.3.1 Digital content creation cloud market, 2017 - 2030
Chapter 7 Digital Content Creation Market Enterprise Size Outlook
7.1 Digital Content Creation Market Share By Enterprise Size, 2021
7.2 Large-Size Enterprises
7.2.1 Digital content creation large size enterprise market, 2017 - 2030
7.3 Small & Medium-Sized Enterprises
7.3.1 Digital content creation small & medium-sized enterprise market, 2017 - 2030
Chapter 8 Digital Content Creation Market End User Outlook
8.1 Digital Content Creation Market By End User, 2021
8.2 Retail and E-commerce
8.2.1 Digital content creation retail and e-commerce market, 2017 - 2030
8.3 Automotive
8.3.1 Digital content creation automotive market, 2017 - 2030
8.4 Healthcare and Pharmaceutical
8.4.1 Digital content creation healthcare and pharmaceutical market, 2017 - 2030
8.5 Media and Entertainment
8.5.1 Digital content creation media and entertainment market, 2017 - 2030
8.6 Travel and Tourism
8.6.1 Digital content creation travel and tourism market, 2017 - 2030
8.7 Others
8.7.1 Digital content creation others market, 2017 - 2030
Chapter 9 Digital Content Creation Market Regional Outlook
Chapter 10 Competitive Analysis
10.1 Company Market Share Analysis, 2021
10.2 Recent Developments & Impact Analysis, By Key Market Participants
10.3 Vendor Landscape
Chapter 11 Competitive Landscape
For more information about this report visit https://www.researchandmarkets.com/r/q93qqn
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