The global digital video content market is expected to post a CAGR of close to 3% during the period 2019-2023, according to the latest market research report by Technavio.
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Technavio has published a new market research report on the global digital video content market from 2019-2023. (Graphic: Business Wire)
A key factor driving the growth of the global digital video content market size is the increasing penetration of mobile computing devices. With the growing digital literacy, availability of low-cost smartphones, and the increasing Internet penetration, the popularity of mobile computing devices such as laptops, smartphones, and tablets, have increased significantly. The increasing investments in communication network infrastructure are further promoting the adoption of mobile computing devices. The growing penetration of mobile devices positively impacts all forms of OTT services as almost all vendors in SVOD, AVOD, and TVOD formats, offer mobile apps. Therefore, the increasing penetration of mobile devices will propel the digital video content market growth during the next five years.
As per Technavio, the rising popularity of DCB in the OTT market will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global digital video content market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global digital video content market: Rising popularity of DCB in the OTT market
The global OTT market is witnessing a significant growth in subscription base in video streaming applications, which is encouraging vendors to convert freemium users to paid subscribers. The growing popularity of DCB is one of the major factors that positively impacting the OTT market. DCB platform allows consumers to make third-party payments through mobile bills. DCB is currently trending among users as it offers more convenience and security compared with other forms of payment modes. Thus, the increasing partnerships between OTT streaming service providers and DCB platform providers are expected to drive the growth of the OTT market, thereby fueling the overall digital video content market during the forecast period.
“Apart from the rising popularity of DCB in the OTT market, other factors such as the implementation of artificial intelligence (AI), and the growing number of cross-platform partnerships will have a significant impact on the digital video content market growth during the forecast period,” says a senior analyst at Technavio.
Global digital video content market: Segmentation analysis
This market research report segments the global digital video content market by deployment (Pay TV, and OTT), and geographic regions (APAC, North America, Europe, MEA, and South America).
The North American region led the digital video content market in 2018, followed by Europe, APAC, South America, and MEA respectively. The growth of the digital video content market in North America can be attributed to factors such as the growing OTT market, and the presence of several international and domestic players. The growth in North America is mainly led by the US and Canada, as both of these countries are witnessing significant growth in the subscriber base of OTT services.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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