The digital content market is expected to grow by US$594 billion with year-over-year growth of 13.40%, according to Technavio. The research group says the increasing number of smart connected devices is notably driving the digital content market growth.
According to the report:
° Digital video content will gain a considerable part of the digital content market. Leading companies like Netflix, Amazon.com, and HULU are improving their content and developing new revenue models. Demand for OTT video services has risen as a result of the availability of numerous subscription choices and premium content.
With the adoption of 4G and 5G technologies in emerging economies, the segment’s rise can be ascribed to considerable expansion in high-speed internet infrastructure and telecom network infrastructure.
° Geography – North America will account for 55% of market growth. In North America, the United States is the most important market for digital content.
The market in this region will grow at a slower rate than the market in other regions. Over the forecast period, the rising media and entertainment, telecom, and education sectors will aid the expansion of the digital content market in North America.
