The Virtual Reality in Tourism Market Report provides an in-depth and decision-making overview, including definitions, classifications and its applications.
What size is the digital content creation market in the United States in 2018?
According to a new market research report published by Credence Research “Global – Growth, Future Prospects and Competitive Analysis, 2019 – 2027”, the digital content creation market is set to grow with a CAGR of 16.5% during the forecast period.
The digital content creation market is driven by the increasing focus of the organizations on the digital market. As the consumer preferences are shifting from the conventional media, such as TV, radio and magazines, to the digital content. Marketers are also allocating more towards their digital market strategies. The spending on the digital media is estimated to increase from the 28% in 2015 to the 36% by 2020. This is acting as a major factor augmenting the demand for the digital content creation solution across the marketers.
The growing adoption of the social media platforms across the globe is further acting as major factor driving the market growth. Furthermore, the integration of the AI and virtual reality technology is accelerating the adoption of the digital content creation solution. However, the availability of the free content development tools is hampering the market growth.
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The digital content creation market is segmented based on the application into retail & e-commerce, government, automotive, healthcare & pharmaceutical, media & entertainment, education, and travel & tourism. The media and entertainment industry is estimated to account for majority share of around 32% in the digital content creation market. The growing demand for the OTT platforms along with the on-demand video and audio is further accelerating the market growth. On the other hand, retail & e-commerce sector is anticipated to grow significantly during the forecast period.
Asia Pacific’s digital content creation market is anticipated to grow substantially at a CAGR of around 20% during the forecast period. The market is propelled by the increasing adoption of the smartphones and tablets across the region. The growing adoption of the OTT platforms is further accelerating the market growth. Additionally, the increasing adoption of the digital marketing is driving the adoption of the digital content creation solution.
The prominent players of the digital content creation market are Adobe Systems Incorporated, Acrolinx GmbH, Apple Inc., Avid Technology Inc., Arcsoft Inc., Corel Corporation, Magix GmbH, Integra Software Services, MarketMuse Inc., Quark Software Inc., Microsoft Corporation, and Trivantis.
Report Scope by Segments
By Component Segment
o Content Authoring
o Content Transformation
o Content Publishing
o Professional Services
o Managed Services
By Content Format Segment
By Deployment Segment
By Application Segment
• Retail & E-commerce
• Healthcare & Pharmaceutical
• Media & Entertainment
• Travel & Tourism
By Geography Segment
• North America (U.S., Rest of North America)
• Europe (U.K., Germany, France, Rest of Europe)
• Asia Pacific (China, Japan, India, Rest of Asia Pacific)
• Rest of the World (Middle East & Africa, Latin America)