Multi-Billion Dollar Digital Content Creation Market To Grow at a Prominent Rate in Coming Years

FinancialNewsMedia.com News Commentary

PALM BEACH, Fla., June 24, 2021 /PRNewswire/ -- Digital content creation is a tool that helps to create content such as textual, video, audio, and graphical. Due to the advent of virtual reality and artificial intelligence, digital content creation tools are witnessing a sudden increase in demand during the forecast period. Enterprises are using this tool for sales and promoting their brands by implementing digital content. Additionally, this tool offers various benefits such as cost-effectiveness, flexibility, scalability, and massive processing power. Thus, influencing the growth of the digital content creation market.  Digital content creation software helps in authoring, distributing, and publishing digital content that is triggering the demand for the digital content creation market. The extensive use of social media such as LinkedIn, Twitter, Facebook, Instagram, and among others is growing demand for digital content which boosts the growth of the market. However, the availability of open-source software is the key hindering factor for the growth of the digital content creation market. Furthermore, increasing digitalization, availability of high-speed internet connectivity, and growing use of social media marketing are expected to boom the growth of the digital content creation market.   Active Companies in the markets today include Grom Social Enterprises, Inc. (OTCQB: GRMM), fuboTV Inc. (NYSE: FUBO), AMC Theatres (NYSE: AMC), Roku, Inc. (NASDAQ: ROKU), iQIYI Inc. (NASDAQ: IQ).

A recent report from InsightSLICE said that The Global Digital Content Creation Market size is expected to reach US$ 38.2 billion by 2030 at a CAGR of 12% during 2020 and 2030. The report said "The businesses are focusing on implementing digital marketing strategies to benefit from the increased online traffic and are adopting digital content creation tools and services.This has fueled the growth of the digital content creation market during past couple of years. The prevalence of COVID-19 has encouraged organizations in strengthening their digital footprint for sustainable growth. With majority of the operations conducted from isolation, the digital content creation has helped organizations to keep up with their digital strategies. This is anticipated to drive the global digital content creation market in coming years."