Digital Content Market Is Estimated To Witness High Growth Owing To...

Digital Content Market Is Estimated To Witness High Growth Owing To Growing Consumption Of Smart Devices.

Veröffentlicht 2023-11-16 11:20:38

The Digital Content market is estimated to be valued at US$ 2.98 Bn in 2023 and is expected to exhibit a CAGR of 6.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
The digital content market includes content such as digital games, apps, music, videos, eBooks, and digitalized physical goods. With the rising adoption of smartphones and smart devices, the consumption of digital content has increased significantly. Digital content empowers users with access to information, entertainment, and the ability to communicate seamlessly.

Market Dynamics:
Growing smartphone penetration is a major driver fueling growth of the digital content market. Rising adoption of smartphones owing to various advantages such as portability, ease of use, and connectivity has spurred demand for digital content. According to research, over 6 billion smartphones were shipped globally in 2021. The availability of high-speed internet connectivity is also supporting market growth. In many developing regions, affordable data plans and availability of public Wi-Fi hotspots have increased internet access. This has boosted online content consumption. Additionally, increasing investments by content producers and publishers to develop engaging and interactive digital content is expected to support market expansion over the forecast period.