Technavio analysts forecast the global digital content market to grow at a CAGR of close to 10% during the forecast period, according to their latest market research report.
The high utilization of social media is one of the major trends being witnessed in the global digital content market 2019-2023. Social media has become a major data source for many organizations because of their ability to provide instant feedback about the content through blogs and social networking sites. Content developers and advertisers are tapping social computing tools for branding, marketing, broad-based knowledge management initiatives, and recruitments, which will drive cost-efficient collaborations across the global workforce. By registering on social networking sites such as Twitter and Facebook, vendors explore new platforms to market their latest services, products, and solutions to gain public feedback and opinions. The increased importance of sentiment analysis and the advances in text analytics are encouraging organizations to include social media in their business processes.
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According to Technavio analysts, one of the key factors contributing to the growth of the global digital content market is the growing online content consumption:
Global digital content market: Growing online content consumption
In 2017, the online video market witnessed a more than double increase in the number of video clips watched by the online audience compared with 2015. The average Internet speed is increasing worldwide. In December 2017, with a mean global speed of 20.28 Mbps, the mobile downloads increased over 30% as compared to 2016, and mobile uploads increased approximately by 40%. Similarly, a global average of 40.11 Mbps makes fixed broadband downloads 97.8% faster than mobile downloads, and this speed increased approximately by 32% during the same period. Developing countries witnessed a drastic increase in Internet speed. Furthermore, network providers worldwide are providing low-priced, monthly or weekly Internet packages. These schemes benefit consumers and allow them to connect to the Internet at an affordable price. The low-cost or economic data plans offered by network providers have increased the number of Internet users. This has propelled the growth of the global digital content market as consumers can easily access the Internet across various mediums.
According to a senior analyst at Technavio for research on publishing and advertising, The number of smart connected devices worldwide is increasing at a very fast pace, and it is expected to become more than 20 billion by 2020. Owing to the increase in the number of smart connected devices, it becomes easier to watch online content on tablets, laptops, or smartphones. Thus, the demand for digital content will increase as it offers flexibility to end-users in terms of place and time.
Global digital content market: Segmentation analysis
The global digital content market research report provides market segmentation by device type (mobile device and non-mobile device), and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The Americas held the largest share of the market in 2017, accounting for close to 38% share, followed by the APAC and EMEA respectively. However, the APAC region is expected to register the highest incremental growth, followed by the Americas in the next five years.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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