Digital Content Creation Market Size, Share & Trends Analysis Report, By Component (Software, Hardware, Services, and Others), By Content Format, By Deployment, By Enterprise Size, By End-user, By Region, And Segment Forecasts, 2024-2032
- Published Date:Jan-2024
- Pages: 119
- Format: PDF
- Report ID: PM3366
- Base Year: 2023
- Historical Data: 2019-2022
Report Outlook
The digital content creation market was valued at USD 30.34 billion in 2023 and is expected to grow at a CAGR of 13.4% during the forecast period. The market has witnessed remarkable expansion in recent years, owing to the changing preferences of consumers and the increased emphasis on digitalization by organizations. The market encompasses diverse segments, such as software and tools, which have become more easily accessible and user-friendly. This has led to a rise in the number of individuals and businesses who can create top-quality digital content. The market is expected to experience continued growth in the future.
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Moreover, virtual and augmented reality technologies have contributed to the digital content creation market's growth by providing immersive experiences. The market is expected to grow due to increasing demand across advertising, e-commerce, and media industries. Innovations in technologies such as artificial intelligence and machine learning could further improve digital content creation efficiency. For Instance, In September 2022, Walmart partnered with social media platforms such as TikTok and Snap to create video content for its retail media products. Through this collaboration, Walmart aims to engage with its customers through shoppable content on the platforms. By leveraging the popularity and reach of social media platforms.
The covid-19 pandemic has had significant and mixed effects on the digital content creation market. The demand for digital content creation services has surged with the increased number of people working remotely and spending more time online. However, the pandemic has also caused a reduction in advertising budgets, leading to a slowdown in the production of new content in some industries. Despite the challenges, the pandemic has accelerated the shift towards online platforms and digital transformation initiatives, presenting opportunities for market growth.
Industry Dynamics
Growth Drivers
Factors such as IT investments, AI adoption, and cloud computing implementation drive the market. Additionally, the growth in these factors is fueling the demand for the market. Other factors, such as the lower cost of data storage and the development of e-commerce business platforms, are expected to further drive the market’s growth due to its widespread usage. Due to their low cost, scalability, flexibility, and vast computing capacity, increasing deployment of SaaS or cloud models is another key trend propelling the market growth.
Additionally, the market growth is driven by the expanding smartphone & tablet user base, the declining cost of digital content creation, & digital-based marketing tools. Organizations across the globe are focusing on developing & are implementing varied digital strategies to attract potential clients to meet their growing demand for advanced digital content creation needs. The trend towards digitalization to build a better marketing strategy has also contributed to the growth of the global market.
Report Segmentation
The market is primarily segmented based on components, content format, deployment, enterprise size, end-use, and region.
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By Component |
By Content Format |
By Deployment |
By Enterprise Size |
By End-Use |
By Region |
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The software segment accounted for the largest market share in 2022
In 2022, the software segment held the largest market share. It includes various software tools such as graphic design, video editing, 3D modeling, animation, and content management systems used by creators to efficiently produce high-quality, engaging, and visually appealing content. The rising demand for digital content, the development of advanced software tools and platforms, and the adoption of the SaaS model have contributed to the growth of this segment and led to the market's growth near future.
The service segment registered a substantial growth rate over the study period. It offers tools, services, and hardware for content creation, editing, and distribution. It is competitive, with companies providing personalized support, training, and exclusive features. The segment is expected to grow due to maintenance and servicing requirements. As the market expands, new products and services will emerge, providing access to technology and expertise to enhance content creation.
Video segment is expected to witness fastest growth during forecast period
Demand for digital video content creation has grown substantially, and it is expected to be the market's fastest-growing segment during the forecasted period. The video has emerged as a highly effective segment of engaging with the audience, and businesses are increasingly investing in top-notch video content to showcase their brand, products, and services. As a result, the video digital content creation segment is expected to drive the growth of the overall market in the foreseeable future.
However, graphical content is projected to experience significant growth owing to various industries' increasing utilization of visual content in creating engaging digital content. Graphic content has proven to effectively communicate data and ideas, making it a popular choice for businesses seeking to enhance their online presence. With the rise of social media platforms and the shift towards visual storytelling, the demand for high-quality graphical content is expected to increase further.
Cloud-based segment is dominating the market during projected period
Cloud-based tools dominate digital content creation due to their scalability, cost-effectiveness, and accessibility. These tools provide a centralized platform accessible from anywhere, which reduces infrastructure costs and scales resources up or down based on business needs. Businesses should consider adopting cloud-based tools to stay competitive in the growing digital content creation market. The on-premise digital content creation software holds a significant market share and is a major player in the industry due to its ability to provide businesses with greater control and customization. However, companies must consider several factors before adopting on-premise software, including hardware requirements, software compatibility, and maintenance costs.
North America dominated the market in 2022
North America dominates the market due to several leading technology companies, a well-established IT infrastructure, and high adoption rates of digital technologies in this region. Furthermore, the acceptance of a wide range of audio and video in this region is also expected to boost the market growth in the coming years. Therefore, areas will continue to grow at a steady pace soon.
However, the Asia Pacific region is expected to grow significantly due to increasing demand for digital content creation tools and services in several countries. Various regional acquisitions are expected to drive the need for the global market further. With the rise of digital transformation initiatives and the increasing adoption of digital platforms in various industries, the demand for high-quality digital content is expected to surge, boosting the region's growth.
Competitive Insight
Some of the major players operating in the market include Acrolinx; Adobe Systems; Aptara; Corel Corporation; Integra Software; MarketMuse; Quark Software; Trivantis; Apple; Avid Tool; Amazon.com; Dish Network; Google; Alibaba; Baidu; Tencent; Verizon; Sina; Facebook; Picsart; Canva; Comcast.
Recent Developments
- In September 2021, Shutterstock, known for offering stock photos, videos, and music, announced that it had acquired PicMonkey, a well-known platform for photo editing and graphic design. This acquisition was made to broaden Shutterstock’s capabilities in visual content creation.
- In August 2021, Unity Technologies, a prominent provider of platforms for developing and managing interactive, real-time 3D (RT3D) content, formally declared the acquisition of Parsec, a cloud gaming startup. This acquisition aims to enhance Unity’s capabilities in creating cloud-based virtual and augmented reality content.
Digital Content Creation Market Report Scope
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Report Attributes |
Details |
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Market size value in 2024 |
USD 34.34 billion |
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Revenue forecast in 2032 |
USD 93.64 billion |
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CAGR |
13.4% from 2024– 2032 |
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Base year |
2023 |
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Historical data |
2019– 2022 |
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Forecast period |
2024 – 2032 |
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Quantitative units |
Revenue in USD billion and CAGR from 2024 to 2032 |
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Segments covered |
By Component, By Content Format, By Deployment, By Enterprise Size, By End-Use, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America; Middle East & Africa |
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Key companies |
Acrolinx GmbH; Adobe Systems Incorporated; Aptara Inc.; Corel Corporation; Integra Software Services Pvt Ltd.; MarketMuse; Microsoft Corporation; Quark Software; Trivantis; Apple; Avid Tool; Magic GmbH; Activision Blizzard; Amazon.com; Bloomberg; CBS; Comcast; Deezer; DIRECTV; Dish Network; Electronic Arts; Google; Alibaba; Baidu; Tencent; Verizon; Sina; Facebook; Picsart; Canva; Comcast. |
FAQ's
The digital content creation market size is expected to reach USD 93.64 billion by 2032.
Key players in the digital content creation market are Acrolinx; Adobe Systems; Aptara; Corel Corporation; Integra Software; MarketMuse; Quark Software; Trivantis.
North America contribute notably towards the global digital content creation market.
The digital content creation market expected to grow at a CAGR of 13.3% during the forecast period.
The digital content creation market report covering key segments are components, content format, deployment, enterprise size, end-use, and region.
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