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DUBLIN, June 2, 2022 /PRNewswire/ — The “Digital Video Content Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” report has been added to ResearchAndMarkets.com’s offering.
The global digital video content market reached a value of US$ 151.4 Billion in 2021. Looking forward, the publisher expects the market to reach US$ 391.1 Billion by 2027, exhibiting a CAGR of 13.38% during 2022-2027. Keeping in mind the uncertainties of COVID-19, they are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor
Digital video content comprises TV shows, movies, music videos and advertisements that are viewed online on various digital platforms. It represents one of the most convenient modes of entertainment, which is accessible through smartphones, tablets, laptops and smart TVs. Currently, there is a rise in the demand for digital video content, especially from the younger population, owing to the boosting sales of smartphones and the increasing number of devices that can support digital media. Besides this, the popularity of digital video content also enables brands to introduce new products on digital platforms, thus reaching a broad consumer base
Due to the rising internet penetration, over-the-top (OTT) media services, such as Amazon Prime Video, Netflix, Hulu and YouTube, are gaining popularity around the world. In line with this, the expansion of 4G, in confluence with the easy access to Wi-Fi services, is reducing the overall cost of digital services worldwide. As a result, a significant part of the population is replacing their cable TVs and shifting …
Full story available on Benzinga.com
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