Digital Content Creation Market poised to peak revenue by 2027 | VMR
Digital content creation tools and services capture the attention of businesses in the retail and hospitality industries to advance digital marketing strategies
ALBANY, NEW YORK, UNITED STATES, September 22, 2021 /EINPresswire.com/ — The digital content creation market has evolved rapidly over the past decade, building on a growing assessment of the growing role of digital marketing strategies in business expansion. At the same time, the tools and services that allow companies to develop their digital presence have multiplied and expanded.
Small Businesses Adopt Digital Content Creation Tools To Boost Their Online Presence
The demand for digital content among small and medium-sized enterprises (SMEs) has increased around the world. Creators use innovative user interfaces and designs to appeal to small businesses. The rising trend of digital content among them will likely provide additional opportunities for players in the digital content creation market.
The last decades have witnessed an increasing digitization of the economy, expanding the prospects for the digital content creation market. However, companies in some industries have been relatively slow to adopt digital-centric marketing approaches to formulate their growth strategies. This is largely due to their preference to lag behind or late adopt an innovative digital tool.
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In recent months, the COVID-19 pandemic has revolutionized the way businesses across industries select their consumer value propositions and target them to seize profitable avenues. The pandemic-induced drop in consumer spending has made them see digital marketing strategies in a new light, especially social media promotion. This has boosted investments in the digital economy and ultimately unlocked vast revenue opportunities for players in the digital content creation market. Indeed, social media marketing has become the new paradigm of the digital economy and offers vast sources of income for creators of digital content.
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Cloud providers partner with media and entertainment industry players
In recent years, digital ad spending has increased, especially after the start of the COVID-19 pandemic in several economies around the world. This is a key trend that is increasing opportunities for service providers and technology companies in the digital content creation market. The global market valuation is expected to grow at a CAGR of 17% in 2019-2027.
The media and entertainment industry is at the forefront of using digital content creation tools to collaborate and find new approaches to telling stories to audiences. They are investing more and more in the deployment of SaaS in order to accelerate the production and post-production processes. The trend is expected to open up lucrative avenues in the digital content creation market in the near future. The growing demand for digital content by OTT service providers has boosted revenue generation, for example.
The hospitality industry is another lucrative sector for players in the digital content creation market. There is a growing temptation for gamers to exploit email marketing to attract potential customers or to build trust between existing customers.
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Retailers Leverage Digital Content Strategy To Improve In-Store Experience, Retail Sector Share To Rise From 21% In 2019 To 26% By 2027
The retail industry is another key industry that has the potential to deliver substantial revenue to players in the digital content creation market. In 2020, several brick-and-mortar stores switched to a digital-centric approach to stay afloat during restricted economic activities during COVID-19 outbreaks in various economies. Digital content creation service providers have jumped on the bandwagon and offer a range of products to meet the needs of these customers. This cemented the prospects for the digital content creation market.
Other companies in the retail industry that already had a digital presence quickly ramped up their digital marketing efforts.
North American market takes the lead, Asia-Pacific market is full of potential revenue
Globally, North America held the largest market share in the digital content creation market. Growth has been increasingly propelled by a broad penetration of digital content creation tools and services in the region.
Asia-Pacific is emerging as the hotbed of opportunity, with growth driven by widespread demand and production of digital content in China, Japan and India. Advances in the region’s digital economies and advancements in internet technologies strengthen the outlook, notes the study on the digital content creation market.
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Global Digital Content Creation Market: Segmentation
Digital Content Creation Market, By Component
o Content creation
o Content transformation
o Content publication
o Professional services
o Managed services
Digital Content Creation Market, By Content Format
Digital Content Creation Market, By Deployment Type
• On the site
Digital Content Creation Market, By Company Size
• Small and medium enterprises
• Large companies
Digital Content Creation Market, By End Use Industry
• Health and pharmaceuticals
• Media and entertainment
• Travel and tourism
• Others (manufacturing, utilities)
Digital Content Creation Market, By Region
• North America
• Asia Pacific
• Middle East and Africa
• South America
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