Digital content is a file or information stored or published in a digital format. Digital content can be in many forms, from text and audio and video files, to graphics, animation, and images. Digital content creation software helps in authoring, publishing, and distributing digital content. The market for digital content creation is estimated to grow to US$ 43,237.7 Mn by 2026, recording a CAGR of 16.8%.The extensive use of social media such as Twitter, LinkedIn, and others has created an enormous demand for digital content. Furthermore, with advent of virtual reality and artificial intelligence, there is sudden increase in demand for digital content creation tools.
The digital content creation market is driven by the increasing emphasis of enterprises on customer engagement and relevant advertisement through means of the internet. This in turn is boosting the digital content creation sector globally. Furthermore, the growing marketing budget of enterprises is boosting the growth of the digital content creation market.The global digital content creation market is anticipated to grow prominently during the forecast period due to the rapidly growing demand for social media marketing. By implementing digital content creation tools, enterprises are enhancing sales and promoting their brands. Furthermore, the education sector is flourishing due to the use of digital content creation tools.
However, huge availability of free content creation tools is affecting the large-scale use of digital content creation tools. Furthermore, certain governments have imposed laws pertaining to the digital content released in the light of various privacy issues. Thus, the usage of digital content tools in these countries is restricted, which is limiting the growth of the market.
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A key trend boosting market growth is the increasing deployment of SaaS or cloud model. The technology is attracting a huge customer base due to its cost-effectiveness, scalability, flexibility, and massive processing power. Furthermore, changing content creation processes are also changing the way digital content creation tools are being used.
The digital content creation market is segmented on the basis ofcomponent, deployment type, enterprise size, content format, and end-use industry. Based on component, the market is segmented into tools and services. Tools can be further segmented intocontent authoring, content transformation, and content publishing. Furthermore, services can be bifurcated into professional services, and managed services.