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The digital video content market is estimated to grow by USD 691.3 billion at a CAGR of 18.08% between 2023 and 2028. The expansion of the market is influenced by factors, such as the rising number of partnerships and acquisitions within the Video on Demand (VOD) market. Additionally, the increasing use of mobile computing devices contributes significantly to market growth. Investments in communication network infrastructure, particularly in developing countries, are also playing a crucial role in driving this growth. As mobile devices become more prevalent and network capabilities improve, the demand for VOD services is expected to rise, further supported by strategic business collaborations and acquisitions. These mobile computing elements collectively contribute to the dynamic evolution of the market, creating new opportunities and enhancing service delivery across various regions.
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The market encompasses various forms of media, including TV shows, movies, music videos, advertisements, and educational content. These contents are accessible via digital platforms on smartphones, tablets, laptops, and smart TVs, catering to the younger population's preferences. Text, Audio, Video, Graphics, and Photographs are integral components of digital video content. The advent of Artificial Intelligence (AI) and IT technologies, such as Cloud computing, have revolutionized content creation, distribution, and consumption. E-newsletters and Blog posts serve as additional channels for content dissemination. Pay TV and Over-The-Top (OTT) services have disrupted traditional advertising models, leading to a shift towards subscription-based models. Personal Computers and Mobiles are essential devices for accessing and engaging with digital video content. Music streaming platforms have also emerged as significant players in the market. The market is rapidly evolving, driven by the younger population and their increasing use of digital media. The expansion of 4G and internet proliferation has enhanced online traffic, fueling the demand for digital video services and live streaming videos. As social media platforms and cable TVs vie for attention, digital video content is also leveraged for promotional purposes and B2B communication. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The increasing penetration of mobile computing devices is a major factor driving the market share growth. The increasing penetration of mobile computing devices such as smartphones, laptops, and tablets is driven by multiple factors. These factors include growing digital literacy, rising per capita income, availability of low-cost smartphones, investments in communication network infrastructure, and increasing Internet penetration. According to Technavio, global smartphone shipments in 2018 were recorded at 1,585.50 million units, which are expected to reach 1655.00 million units by 2023.
This increasing penetration of mobile computing devices positively impacts all forms of OTT services. This is because almost all the market vendors in SVOD, AVOD, and TVOD formats, such as Netflix, Amazon.com, and AT&T, offer mobile apps. These services were initially offered by vendors through websites. However, the growing penetration of mobile devices encouraged market vendors to develop mobile apps for streaming. Due to such reasons, the demand for digital video content will continue to grow in the forecast period.
The implementation of AI by OTT service providers is another factor supporting the market share growth. Many OTT service providers are implementing advanced technologies such as AI to improve customer experience and expand their customer base. AI is implemented into multiple aspects, starting from creation and production to postproduction, marketing, and advertisement and distribution. Basically, the AI algorithm analyzes the data of multiple users regarding genres of media watched, most-watched media content, most liked media content, and others. Based on this analysis, OTT platforms automatically recommend content to users. This allows users to navigate easily and find relevant content.
Therefore, OTT service providers such as Netflix and Amazon.com are implementing AI across their OTT platforms to increase customer satisfaction. Personalization is one of the major factors to gain traction in this market. OTT players such as Netflix and Amazon.com create promos targeted at specific consumers based on their past preferences. By using AI, a viewerâs preference can be recognized, and an advertisement relevant to that preference can be used. Therefore, this will significantly aid in the growth of the market during the forecast period.
The availability of pirated video content on online platforms will be a major challenge for market share growth. Users can download digital video content using torrent files with the help of software such as BitTorrent. The use of services such as BitTorrent is illegal, as the content shared through it is mostly copyrighted, which makes it illegal to share. Users can download any TV show, movie, documentary, and video through these torrent files free of cost. This eliminates the need for a subscription to video streaming services. Torrents offer a single source to download all such content.
In addition, the content shared through torrents is mostly ad-free, which is an advantage over AVOD streaming services. Essentially, several users prefer to use torrents and do not subscribe to these services, which is a significant challenge to the growth of the market. The growth of the market is hindered by the growing market of video piracy.
The report includes the adoption lifecycle of the market, covering from the innovatorâs stage to the laggardâs stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
ABC- The company offers digital video content which includes vlogs, animated graphics interchange format, live videos, recorded presentations, and webinars.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the Pay TV segment will be significant during the forecast period. The growth of the market is driven by the shift of customers from cable TV to satellite TV. This is mainly observed in emerging countries such as India, Indonesia, and Malaysia. The major reason for this shift is the reduced network infrastructure cost due to the use of microwave signals for transmission, which minimizes the need for cables. Government regulations in many countries are also making people shift to satellite TV connections. This not only helps government and market vendors to offer an improved broadcasting infrastructure but also provides efficient control over broadcasting. Hence, due to these factors, there is significant adoption of Pay-TV subscriptions, which is expected to drive the growth of the market in focus during the forecast period.
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The Pay TV segment was valued at USD 161.80 billion in 2018. Pay-TV is a type of digital video content delivery method where the customer is required to have a traditional cable or satellite dish to access content offered by the service provider. It is further divided into subscription-based Pay-TV and on-demand Pay-TV. The growth of the global Pay-TV market is driven by the increasing demand for IPTV, which is a type of content delivery method where the Internet is used to deliver TV programs that are either live or on-demand. IPTV is often confused with OTT as the content in both is delivered through the Internet. However, IPTV is delivered over the service provider's own infrastructure (hardware/equipment), whereas OTT is delivered via the public Internet. Such factors will increase the market during the forecast period.
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North America is estimated to contribute 43% to the growth of the global market during the forecast period. Technavioâs analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The AVOD segment is expected to significantly drive the growth of the market in the region. AVOD allows users to log in for free and stream videos. However, the content offered through this service is ad-supported. AVOD is beneficial to all the stakeholders in the value chain. Consumers get free access to digital video content, whereas content providers generate revenue from companies that want to feature their ads. Advertising companies get access to customers and can implement target marketing. Hence, AVOD subscription is witnessing significant growth in the region. Several vendors are trying to enter this market, which is expected to drive the growth of the market. Hence, due to the above factors, the total subscriber base for OTT services is rising significantly in the region, which will drive the growth of the market.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion " for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
Digital video content marketing refers to the promotion of brands or products through the creation and distribution of engaging video content. This form of marketing has gained significant traction in recent years due to the increasing popularity of digital platforms and the rising consumer preference for visual content. Marketers utilize various digital channels such as social media, websites, and video sharing platforms to reach their target audience. Video content marketing strategies include pre-produced videos, live videos, and user-generated content. Industries like the hotel industry, healthcare and pharmaceutical, and media and entertainment are investing in personalization marketing and voice search to engage viewers. Despite the benefits, challenges such as piracy of content and the competition between Download To Own (DTO) and on-premise options continue to impact market dynamics.
Furthermore, pre-produced videos are created in-house or by external production companies and can range from explainer videos, product demos, to educational content. Live videos offer real-time engagement and can include webinars, Q&A sessions, or product launches. User-generated content, on the other hand, leverages the power of the audience by encouraging them to create and share videos related to the brand or product. Effective video content marketing requires a clear understanding of the target audience, their preferences, and the platform they use. Marketers must also focus on creating high-quality, engaging, and shareable content to stand out in a crowded digital landscape for entertainment purposes. Additionally, video content marketing requires a solid distribution strategy to ensure maximum reach and impact. In conclusion, digital video content marketing is a powerful tool for brands and businesses looking to engage with their audience and build a strong online presence. By creating and distributing high-quality, engaging, and shareable video content, marketers can effectively reach and connect with their target audience, driving brand awareness, leads, and sales.
Market Scope |
|
Report Coverage |
Details |
Page number |
181 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 18.08% |
Market growth 2024-2028 |
USD 691.3 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
15.55 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 43% |
Key countries |
US, China, UK, India, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Alphabet Inc., Amazon.com Inc., Apple Inc., AT and T, Chicken Soup for the Soul LLC, Comcast Corp., Lions Gate Entertainment Corp., Meta Platforms Inc., Netflix Inc., One Day Video Ltd., Roku Inc., Snap Inc., Sony Group Corp., Stir Fry Content Kitchen, The Walt Disney Co., Twitter Inc., Verizon, Viacom18 Media Pvt. Ltd., Walmart Inc., and Youku Tudou Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, Market growth and Market Forecasting, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for Market forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Deployment
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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