Asia and Oceana Creator Economy Market is Estimated to Witness High...

Asia and Oceana Creator Economy Market is Estimated to Witness High Growth Owing to Expanding Digital Platforms

Posté 2024-01-17 12:15:05

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The global Asia and Oceania creator economy market is estimated to be valued at US$ 135.2 Bn in 2023 and is expected to exhibit a CAGR of 5.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

SWOT Analysis

Strength: The Asia and Oceania creator economy market benefits from a large population with high internet penetration rates across major countries. Social media platforms have over a billion users in the region providing opportunities for creators to monetize their skills and talents. Countries like China, India and Indonesia are home to a young digitally savvy population increasingly consuming online content.

Weakness: Infrastructure limitations remain a challenge in rural areas constraining the reach of creators. Copyright laws are not uniformly enforced across the region exposing some creators to legal risks. Language barriers can restrict the ability of local creators to monetize skills outside their home countries.

Opportunity: Live streaming and short video platforms are gaining immense popularity opening new revenue streams. Demand is rising for localized content around education, entertainment and skills amid greater digital consumption. Partnerships between creators and bigger companies/brands provides opportunities to scale businesses.

Threats: Stricter data privacy regulations could impact targeted advertising revenues for some creators. Piracy remains an issue for monetizing intellectual property in certain nations. Changing algorithms of major social platforms pose risks to established creator businesses relying on those networks.

Key Takeaways

The Global Asia And Oceana Creator Economy Market Size is expected to witness high growth. According to estimates, the market was valued at US$ 135.2 Bn in 2023 and is projected to reach US$ 195.6 Bn by 2030, registering a CAGR of 5.8% during the forecast period.

China dominates the region currently accounting for over 30% of the market owing to the huge population of creators and consumers on local platforms. India is emerging as another major hub for creators given the entrepreneurial culture and rapid digitalization underway. Indonesia is also witnessing a boom in creators capitalizing on the popularity of short video formats regionally.

Key players operating in the Asia and Oceania creator economy market are ByteDance, Kuaishou, Bilibili, Xiaohongshu, YouTube and Instagram. ByteDance owns massively popular apps like TikTok and Douyin driving engagement of creators. Livestreaming platforms operated by Kuaishou and Bilibili have enabled thousands of creators to build sustainable businesses in China. Social commerce platform Xiaohongshu has helped myriad beauty, fashion and lifestyle influencers achieve commercial success. Global platforms YouTube and Instagram continue supporting creator monetization through features like channel memberships, subscriptions and affiliate marketing integrations. The creator industry is poised for exponential growth in the next decade as digital behaviors become further entrenched.

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https://www.ukwebwire.com/asia-and-oceana-creator-economy-market-growth-and-forecasts-analysis/