According to a new market research report issued by Credence Research, the digital content creation market is set to grow by 16.5% during the forecast period.
Key questions answered in this report
- What was the market size of digital content creation in 2018 and forecast up to 2027?
- Which is the largest regional market for digital content creation?
- What are the major trends followed in digital content creation market across different regions?
- Who are the key companies in the digital content creation market?
- What are the key strategies adopted by the leading digital content creation companies in market?
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The market for digital content creation is driven by the increasing focus of organizations on the digital market. Consumer preferences are shifting from conventional media, such as TV, radio and magazines, to digital content. Marketers are also putting more effort into their digital market strategies. Digital media spending is estimated to increase from 28 per cent in 2015 to 36 per cent by 2020. This is acting as a key factor in increasing the demand for a solution to digital content creation across marketers.
The increasing adoption of social media platforms across the globe continues to act as a major driver of market growth. In addition, the integration of AI and virtual reality technology accelerates the adoption of a digital content creation solution. However, the availability of free content development tools is hindering market growth.
The market for digital content creation is segmented by applications in retail & e-commerce, government, automotive, healthcare & pharmaceutical, media & entertainment, education and travel & tourism. The media and entertainment industry is projected to have a majority share of around 32 per cent of the digital content creation market. The increasing demand for OTT platforms, along with on-demand video and audio, is accelerating the growth of the market. On the other hand, the retail and e-commerce sector is projected to grow significantly during the forecast period.
Browse Full Report Originally Published by Credence Research at: https://www.credenceresearch.com/report/digital-content-creation-market
The market for digital content creation in Asia Pacific is expected to grow substantially at a CAGR of around 20% during the forecast period. The market is driven by the growing adoption of smartphones and tablets throughout the region. The growing adoption of OTT platforms further accelerates market growth. Furthermore, the increasing adoption of digital marketing is driving the adoption of a solution for the creation of digital content.
The prominent players of the digital content creation market are Adobe Systems Incorporated, Acrolinx GmbH, Apple Inc., Avid Technology Inc., Arcsoft Inc., Corel Corporation, Magix GmbH, Integra Software Services, MarketMuse Inc., Quark Software Inc., Microsoft Corporation, and Trivantis.