Digital Content Creation Market – Snapshot
Digital content is a file or information stored or published in a digital format. Digital content can be in many forms, from text and audio and video files, to graphics, animation, and images. Digital content creation software helps in authoring, publishing, and distributing digital content. The market for digital content creation is estimated to grow to US$ 43,237.7 Mn by 2026, recording a CAGR of 16.8%.The extensive use of social media such as Twitter, LinkedIn, and others has created an enormous demand for digital content. Furthermore, with advent of virtual reality and artificial intelligence, there is sudden increase in demand for digital content creation tools.
The digital content creation market is driven by the increasing emphasis of enterprises on customer engagement and relevant advertisement through means of the internet. This in turn is boosting the digital content creation sector globally. Furthermore, the growing marketing budget of enterprises is boosting the growth of the digital content creation market.The global digital content creation market is anticipated to grow prominently during the forecast period due to the rapidly growing demand for social media marketing. By implementing digital content creation tools, enterprises are enhancing sales and promoting their brands. Furthermore, the education sector is flourishing due to the use of digital content creation tools.
However, huge availability of free content creation tools is affecting the large-scale use of digital content creation tools. Furthermore, certain governments have imposed laws pertaining to the digital content released in the light of various privacy issues. Thus, the usage of digital content tools in these countries is restricted, which is limiting the growth of the market.
A key trend boosting market growth is the increasing deployment of SaaS or cloud model. The technology is attracting a huge customer base due to its cost-effectiveness, scalability, flexibility, and massive processing power. Furthermore, changing content creation processes are also changing the way digital content creation tools are being used.
The digital content creation market is segmented on the basis ofcomponent, deployment type, enterprise size, content format, and end-use industry. Based on component, the market is segmented into tools and services. Tools can be further segmented intocontent authoring, content transformation, and content publishing. Furthermore, services can be bifurcated into professional services, and managed services. Based on content format, the market is segmented into textual, graphical, video, and audio. In terms of enterprise size, the market is segmented into small & medium enterprises, and large enterprises.
Further, the market on the basis of deployment type is segmented into cloud and on premise. In terms of end-use industry, the market is segmented into retail & e-commerce, government, automotive, education, healthcare & pharmaceutical, media & entertainment, travel & tourism, and others (manufacturing, utilities). Media & entertainment and retail industries are dependent on various end-to-end and on-demand content creation tools. This is attributable to the large amount of content required in these industries and the need to save time to develop original and error-free content.
From a geographical standpoint, North America is expected to hold a major share in the digital content creation market. Growth in this region is attributed to strong adoption and penetration of digital content creation tools and services, as well as considerable application of digital content creation tools in different end-user segments across the region. Asia Pacific is expected to witness lucrative growth due to rising adoption of digital content creation tools in countries such as China, India, and Japan that are focused on developing strong internet infrastructure and digital technology which is providing huge opportunities to vendors present in the market. Furthermore, the markets in South America and Middle East & Africa (MEA) are also expected to grow prominently during the forecast period. Growing awareness and adoption of digital content creation across Middle East & Africa and South America is offering new opportunities for key players operating in the global digital content creation market.
Major vendors are investing huge amounts in digital content creation tools since the market is expanding rapidly. Furthermore, underlying technological advancements and rising trend of digital content creation are encouraging the development of a wide-ranging suite of tools and services for different types of content. Moreover, prevailing software vendors are rapidly increasing their sales and distribution networks in order to reach the most distant customers. Key market players profiled in the digital content creation market report include Acrolinx GmbH, Adobe Systems Incorporated, Aptara Inc., Apple, Inc., Corel Corporation, Integra Software Services Pvt. Ltd., MarketMuse, Inc., Microsoft Corporation, Quark Software, Inc. and Trivantis.