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.

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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).

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. 'Facebook', 'Google', 'Amazon', 'Netflix', 'TikTok', 'Twitter', 'Instagram', 'Snapchat', 'LinkedIn', 'Pinterest', 'Spotify', 'Adobe Inc.', 'Tencent', 'Activision Blizzard', 'Electronic Arts (EA)', 'Microsoft', 'Sony Interactive Entertainment', 'Roku', 'Hulu', 'Vimeo'

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.

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.

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Digital Media Market Insights

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