USD 25.6 billion
Digital Media Market Size, Share, Growth Analysis, By Streaming Services (Subscription Video on Demand (SVOD), Ad-supported Video on Demand (AVOD), Transactional Video on Demand (TVOD), and Live Streaming Platforms), By Social Media (Social Networking Platforms, Microblogging Platforms, Video Sharing Platforms, and Image Sharing Platforms), By Online Advertising(Display Advertising, Search Engine Advertising, Social Media Advertising, Video Advertising), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG50U2001 |
Region:
Global |
Published Date: April, 2024
Pages:
177
|Tables:
94
|Figures:
76
Digital Media Market Insights
Global Digital Media Market size was valued at USD 25.6 billion in 2022 and is poised to grow from USD 29.08 billion in 2023 to USD 80.66 billion by 2031, growing at a CAGR of 13.6% in the forecast period (2024-2031).
In recent years, the global digital media market has been experiencing massive boom, driven with the aid of various factors which includes increasing internet penetration, rising phone utilization, and the growing call for for digital content material. Over-the-pinnacle (OTT) streaming services have come to be increasingly famous, with a shift from traditional cable and satellite TV to on-demand digital content material. Major players within the industry, such as Netflix, Amazon Prime Video, Disney , and others, keep to spend money on original content introduction to draw and retain subscribers.
Additionally, digital advertising expenditure has visible considerable growth as advertisers allocate budgets to online platforms. The capability to target specific demographics, song consumer conduct, and measure marketing campaign overall performance has made virtual advertising attractive for groups.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Google ads
Fastest Growth
Video Advertising
Growth Rate
13.6% CAGR
Global Digital Media Market ($ Bn)
Country Share for North America Region (%)
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Digital Media Market Segmental Analysis
The global Digital Media market is segmented into four major segments i.e. by Streaming Services, social media, Online Advertising, and region. Based on Type, it is divided into Subscription Video on Demand (SVOD), Ad-supported Video on Demand (AVOD), Transactional Video on Demand (TVOD), Live Streaming Platforms. Based on social media, it is bifurcated as Social Networking Platforms, Microblogging Platforms, Video Sharing Platforms, Image Sharing Platforms. Based on Online Advertising it is segregated into, Display Advertising, Search Engine Advertising, Social Media Advertising, Video Advertising, Native Advertising. Based on region, the market is segmented into United States, Canada, and Mexico.
Analysis by Type
Netflix has a considerable and various library of authentic and certified content material, catering to a worldwide target market. With a robust worldwide presence, Netflix has efficiently elevated its attain and tailored its content to diverse regions. The employer consistently invests closely in growing original content, attracting subscribers with extraordinary and terrific productions.
Disney benefits from a rich portfolio of iconic franchises inclusive of Marvel, Star Wars, Pixar, and Disney classics. It appeals to a wide demographic, families, with a focus on infant-friendly and family-orientated content. It also offers package deals that consist of Hulu and ESPN, imparting a variety of content material for specific audience segments.
Analysis by Online Advertising
Google is the maximum widely used search engine globally, making Google Ads a effective platform for reaching audiences actively looking for merchandise or facts. Google Ads offers diverse ad codecs, together with search commercials, show ads, video ads, and app merchandising, permitting advertisers to reach audiences throughout distinct channels. Google leverages person records to allow targeting, reaching specific demographics, hobbies, and behaviours.
With the growing recognition of video content across structures, video marketing, particularly on systems like YouTube and TikTok, became experiencing tremendous boom. Video commercials provide a dynamic and engaging format, shooting customers' interest and conveying messages efficiently.
Global Digital Media Market By Online Advertising
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Digital Media Market Regional Insights
North America, mainly the US, has historically been a dominant pressure within the international digital media marketplace. The area has a properly established technological infrastructure, a large client base, and is home to most important generation and leisure companies.
With its big and growing population, increasing net penetration, and the adoption of digital technology, the Asia-Pacific is poised for fast boom. Countries like India, with a burge "Ad Blocking to Prevent Market Growth". Google, Facebook, Amazon, Netflix and Twitter are some of the largest digital media companies in North America, particularly in the United States. These companies drive innovation and establish breakthroughs in the creation, distribution and consumption of digital content around the world.
Asia-Pacific is the most populous region in the world, with a rapidly growing middle class and urban population. Countries such as China, India, Japan, South Korea, Southeast Asian countries have huge consumer markets with diverse tastes and consumption patterns. Asia Pacific is the most densely populated region in the world, with middle class and cities sizes of population is growing rapidly There is a large consumer market. Ongoing online population is also projected to contribute substantially to the vicinity's virtual expansion.
Global Digital Media Market By Region
- Largest
- Fastest
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Digital Media Market Dynamics
Drivers
Increasing Proliferation of High-Speed Internet Connectivity
- The giant proliferation of high-pace internet connectivity, allowing seamless get right of entry to digital content across numerous gadgets. The growing adoption of smartphones, coupled with expanding mobile networks, has empowered customers to interact with virtual media every time, anywhere. The surge in demand for on-call for content, specially through streaming offerings, displays converting client choices and a shift far from conventional media consumption.
"Interactive Content and Influencer Marketing to Drive Market Demand"
- Interactive content such as quizzes, polls, and interactive infographics have become increasingly popular to engage audiences and make content more engaging. This trend is driven by a growing desire for personalized and delivered experiences about their involvement. Influencer marketing is a popular way for brands to reach audiences through social media. This trend is due to the growing influence of social media personalities and the ability to target niche audiences through influencer shares. With data privacy and security concerns on the rise, many consumers are increasingly selective about the types of digital media they consume. This trend is driving a shift towards secure and transparent digital channels. These trends are fuelling the rapid growth of the global digital media market.
Restraints
High Concern and Scrutiny Over Data Privacy and Security
- One of the primary market restraints that is the growing difficulty and scrutiny over information privateness and security. As digital media systems gather extensive consumer records for targeted advertising and personalized content, there's a growing awareness and regulatory awareness on defensive individuals' privacy rights. Additionally, the saturation and competition inside the marketplace result in a fragmented panorama, making it challenging for brand new entrants to establish themselves. Moreover, issues associated with virtual piracy and unauthorized distribution of content material pose threats to the highbrow property rights of content creators and vendors.
Ad Blocking to Restrict the Market Growth
- Ad blocking software has become increasingly popular in recent years, and many consumers choose to block online ads to improve their browsing experience. This can limit the effectiveness of digital advertising and reduce the revenue of digital media companies get over it. The digital media market is becoming increasingly saturated, with more and more content being produced and distributed online. This can make it harder for individual artists and businesses to stand out and reach their target audience.
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Digital Media Market Competitive Landscape
The aggressive surroundings of the Digital Media market are dynamic and marked by the presence of key players vying for marketplace percentage throughout various segments. Social media platforms, led by using Facebook, Instagram, Twitter, and emerging players like TikTok, interact in non-stop innovation to capture and preserve consumer attention, with a focus on brief-form movies and interactive functions. In the area of online advertising, platforms like Google and Facebook dominate digital advert spending, utilizing their great consumer statistics and cantered advertising and marketing abilities.
Top Player’s Company Profiles
- Amazon
- Netflix
- TikTok
- Snapchat
- Spotify
- Adobe Inc.
- Tencent
- Activision Blizzard
- Electronic Arts (EA)
- Microsoft
- Sony Interactive Entertainment
- Roku
- Hulu
- Vimeo
Recent Developments
- July 2023: Emerging in July 2023, Threads, owned via Meta, arrives at the social media scene amidst considerable shifts happening at X (previously Twitter) following its acquisition via Elon Musk in 2022.
- In May 2021, AT&T declared their intentions to part ways with their old partner, WarnerMedia and enter partnership with another prominent player in the real-world entertainment, Discovery Inc. This merger plan worth USD 43 Billion aims at creating a fresh independent entity that focuses on digital media such as streaming content and compete with other giants such as Netflix and Disney+.
- In May of 2021, Meta Platforms Inc., which oversees Facebook, Instagram, and WhatsApp, finalized its purchase of Giphy, a widely used platform for sharing GIFs (Graphics Interchange Format). The objective of this acquisition was to seamlessly integrate Giphy's vast GIF library into Meta's offerings, enriching user interaction and involvement across its platforms.
Digital Media Key Market Trends
Rising Evolution of Augmented Reality (Ar) And Virtual Reality (Vr) Technologies: The evolution of augmented fact (AR) and virtual truth (VR) technologies is creating immersive and interactive virtual reviews, impacting gaming, content material intake, and even digital events. Live streaming, within the context of social media and e-sports, is becoming increasingly famous, imparting real-time engagement possibilities for audiences and advertisers alike. The upward thrust of podcasting as a preferred medium for both content material creators and customers are obvious, with structures investing in original podcast content material and advertisers recognizing the ability of this format.
Digital Media Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
Global Digital Media marketplace analysis well-known shows a dynamic market with several standout trends and difficulties. The market is pushed by escalating internet penetration, vast adoption of smartphones, and the surge in demand for on-demand content material. However, concerns around facts privateness, severe marketplace opposition, and regulatory demanding situations pose super restraints. Streaming services, social media, and online advertising are pivotal product kinds contributing to market boom. Geographically, North America and Asia-Pacific are key areas experiencing good sized increase. Key market trends include the upward push of brief-form video content, the mixing of augmented fact (AR) and virtual fact (VR) technologies, and the increasing significance of e-commerce inside digital media systems.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 25.6 billion |
| Market size value in 2031 | USD 80.66 billion |
| Growth Rate | 13.6% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Digital Media Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Digital Media Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Digital Media Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Digital Media Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Digital Media Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Digital Media Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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