Artificial Intelligence
Digital Content Creation Global Market Report 2023
New York, June 12, 2023 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Digital Content Creation Global Market Report 2023” – https://www.reportlinker.com/p06466681/?utm_source=GNW
The global digital content creation market is expected to grow from $21.62 billion in 2022 to $24.72 billion in 2023 at a compound annual growth rate (CAGR) of 14.36%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The digital content creation market is expected to reach $14.39 billion in 2027 at a CAGR of 14.3%.
The digital content creation market includes revenues earned by entities by providing content-creating and management services such as blogging, article writing, maintaining and updating websites, online commentary, photography, videography, maintenance of social media accounts, editing services, and distribution of digital media.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Digital content creation refers to the provision of information to digital media, for a target audience in specific settings. It is used for marketing or publication by creating communication channels through different digital formats or mediums such as speech, writing, or any of various arts for self-expression and dissemination.
North America was the largest region in the digital content creationmarket in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in digital content creation report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of components in digital content creation are tools and services.Digital content creation tools refer to the software or tools that aid in content development for marketing purposes in an organization and they are used in developing written or visual material based on various ideas for a targeted audience in the form of a blog, video, infographic, or other content format for effective communication.
The types of formats are textual, graphical, video, audio, and others and these are deployed cloud and on-premises by small and medium enterprises and large enterprises. It is used in various sectors of industries such as hospitality, retail, automotive, travel and tourism, healthcare, pharmaceuticals, media and entertainment, government, and others.
Growth in AI adoption is driving the growth of the digital content creation market going forward.Artificial intelligence is a field that combines computer science and large datasets to solve problems.
It consists of a group of technologies that allow computers to perform a wide range of advanced functions.Artificial intelligence is used in digital content creation for creating articles, blog entries, social media posts, and product descriptions by leveraging natural language processing (NLP) and machine learning algorithms to interpret user intent and analyze massive volumes of data to generate unique and relevant content.
For instance, in May 2022, according to a report published by International Business Machines Corporation (IBM), a US-based technology corporation, according to data from 7,502 enterprises worldwide, the adoption rate of AI internationally increased dramatically and was at 35%, up four points from the previous year. AI is expected to be adopted by 13% more organizations in 2022 than in 2021. 35% of organizations have used AI in their organization, 42% are contemplating AI adoption, and two-thirds (66%) are either executing or planning to use AI to accomplish their sustainability goals. Therefore, the growth in AI adoption is driving the growth of the digital content creation market.
Technological advancement is the key trend that is gaining popularity in the digital content creation market.Major companies operating in the digital content creation market are focused on developing technologically advanced products to strengthen their position in the market.
For instance, in February 2023, Knorish Frameworks Private Limited, an India-based unlisted private company providing technology solutions to help professionals and businesses, introduced FunnelsGPT, an artificial intelligence content creation tool to assist organizations in developing better and faster content.FunnelsGPT is powered by predictive generative text-based AI technology that supplies course designers in an organization with high-conversion landing page material, appealing social media posts, and compelling ad copy to help them build their online presence and improve conversion rates.
Additionally, it can scour various content pieces, provide exceptional solutions in seconds, and allow developers to write better content for marketing and promoting activities.
In August 2020, Accenture plc, a US-based professional services company acquired CreativeDrive for an undisclosed amount.Through this acquisition, Accenture plc aims to strengthen its market presence in content creation by solving challenges in content creation and creating a content revolution in a creative, cost-effective, and agile manner.
CreativeDrive is a US-based content creation company.
The countries covered in the digital content creation market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The digital content creation market research report is one of a series of new reports that provides digital content creation market statistics, including digital content creation industry global market size, regional shares, competitors with a digital content creation market share, detailed digital content creation market segments, market trends and opportunities, and any further data you may need to thrive in the digital content creation industry. This digital content creation market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06466681/?utm_source=GNW
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