Digital media production is the process in which digital files are created, enhanced, encoded, and distributed using numerous methods of processing via computer hardware and software applications. These files represent assorted media types, including audio, video, graphic, and written content as seen on the Internet. These media types are most often specifically coded to function in a pre-determined environment or platform. Digital media production exists as the primary discipline for the creation of digital music, streaming video, and other content made available to a mass audience.
Key factors that drive the growth of the global digital media production software market include rise in demand for online video games. Growth in ICT expenditure also boosted the growth of the digital media production software industry. Moreover, rise in use of social media marketing and growth in demand for website designing positively impacts the growth of the market. In addition, surge in use of AI and machine learning in digital media production software boosts the growth of the market across the globe. However, factors such as rise in cyber security threats and high cost of implementation limit the growth of the market. On the contrary, increase in penetration of digital marketing is expected to offer remunerative opportunities for the expansion of the market during the forecast period.Furthermore, increased demand in the entertainment industry as consumers turn towards online movies and entertainment amid the coronavirus pandemic. Hence, shifting towards digital consumption for entertainment during the pandemic, such as online games, online movies, and online entertainment applications provides the major growth factors for the digital media production software market.
The digital media production software market is segmented on the basis of type, deployment mode, application, and region. By type, it is divided into digital content creation, digital content management and interactive TV. By deployment mode, the market is bifurcated into on-premise and cloud. By application, it is divided into digital advertising, online games, e-learning and others. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Some of the major players in the market are Brightcove Inc., Apple Inc., Adobe, Acquia, Inc., Bynder, CSG, DNN Corp, HubSpot, Inc., IBM Corporation and Oracle.
The study provides an in-depth analysis of the global digital media production software market along with the current trends and future estimations to elucidate imminent investment pockets.
Information about key drivers, restrains, and opportunities and their impact analysis on the market size is provided in the report.
The Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
The quantitative analysis of the global digital media production software market for the period 2021-2031 is provided to determine the market potential.
Key factors that drive the growth of the global digital media production software market include rise in demand for online video games. Growth in ICT expenditure also boosted the growth of the digital media production software industry. Moreover, rise in use of social media marketing and growth in demand for website designing positively impacts the growth of the market. In addition, surge in use of AI and machine learning in digital media production software boosts the growth of the market across the globe. However, factors such as rise in cyber security threats and high cost of implementation limit the growth of the market. On the contrary, increase in penetration of digital marketing is expected to offer remunerative opportunities for the expansion of the market during the forecast period.Furthermore, increased demand in the entertainment industry as consumers turn towards online movies and entertainment amid the coronavirus pandemic. Hence, shifting towards digital consumption for entertainment during the pandemic, such as online games, online movies, and online entertainment applications provides the major growth factors for the digital media production software market.
The digital media production software market is segmented on the basis of type, deployment mode, application, and region. By type, it is divided into digital content creation, digital content management and interactive TV. By deployment mode, the market is bifurcated into on-premise and cloud. By application, it is divided into digital advertising, online games, e-learning and others. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Some of the major players in the market are Brightcove Inc., Apple Inc., Adobe, Acquia, Inc., Bynder, CSG, DNN Corp, HubSpot, Inc., IBM Corporation and Oracle.
Key Benefits For Stakeholders
:The study provides an in-depth analysis of the global digital media production software market along with the current trends and future estimations to elucidate imminent investment pockets.
Information about key drivers, restrains, and opportunities and their impact analysis on the market size is provided in the report.
The Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
The quantitative analysis of the global digital media production software market for the period 2021-2031 is provided to determine the market potential.
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Key Market Segments
By Type
- Digital Content Creation
- Digital Content Management
- Interactive TV
By Deployment Mode
- On-Premise
- Cloud
By Application
- Digital Advertising
- Online Games
- E-learning
- Others
By Region
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
- Key Market Players
- Bynder
- HubSpot, Inc.
- Acquia, Inc.
- Apple Inc.
- DNN Corp
- CSG
- IBM Corporation
- Oracle
- Brightcove Inc.
- Adobe
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: DIGITAL MEDIA PRODUCTION SOFTWARE MARKET, BY TYPE
CHAPTER 5: DIGITAL MEDIA PRODUCTION SOFTWARE MARKET, BY DEPLOYMENT MODE
CHAPTER 6: DIGITAL MEDIA PRODUCTION SOFTWARE MARKET, BY APPLICATION
CHAPTER 7: DIGITAL MEDIA PRODUCTION SOFTWARE MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report, the digital media production software market was valued at $11.4 billion in 2021, and is estimated to reach $36.3 billion by 2031, growing at a CAGR of 12.6% from 2022 to 2031.The Digital Media Production Software Market is likely to experience a significant growth rate of 12.6% from 2022-2031 owing to increasing market demand from the entertainment sector and rise in digital media platforms.
Digital media production is the process in which digital files are created, enhanced, encoded, and distributed using numerous methods of processing via computer hardware and software applications. The definition of digital media production is constantly changing as the boundaries of technology expand each day. In many cases, it refers to the production of visual media, as in digitally enhanced animation; or new media creation, including website creation, multimedia authoring, and the creation of computer games. Since digital media files are based on the binary numeral system, which refers to the individual states of zero and one as a representation of data, the types and possibilities of creation are endless as technology progresses. Logically, digital media production encompasses an area responsible for multiple processes, which in turn has the potential to create media of numerous genres and styles.
Key factors that drive the growth of the global digital media production software market include rise in demand for online video games. Growth in ICT expenditure also boosted the growth of the digital media production software industry. In addition, the rising use of social media marketing propelling the growth of the market. However, high initial investments, and cyber security threats are responsible for hampering the growth of the digital media production software market. On the contrary, increasing penetration of digital marketing is anticipated to provide growth opportunities for global digital media production software industry during the forecast period. Moreover, increased demand in the entertainment industry as consumers turn towards online movies and entertainment amid the coronavirus pandemic. Hence, shifting towards digital consumption for entertainment during the pandemic, such as online games, online movies, and online entertainment applications provides the major growth factors for the digital media production software market.
The digital media production software market is segmented on the basis of type, deployment mode, application, and region. By type, it is divided into digital content creation, digital content management and interactive TV. By deployment mode, the market is bifurcated into on-premise and cloud. By application, it is divided into digital advertising, online games, e-learning and others. Region wise, it is analyzed across North America (the U.S., and Canada), Europe (the UK, Germany, France, Italy, Spain, and rest of Europe), Asia-Pacific (China, India, Japan, Australia, South Korea and rest of Asia-Pacific), and LAMEA (Latin America, Middle East and Africa).
The key players profiled in the study include Brightcove Inc., Apple Inc., Adobe, Acquia, Inc., Bynder, CSG, DNN Corp, HubSpot, Inc., IBM Corporation and Oracle. The players in the market have been actively engaged in the adoption various strategies such as acquisition, product launch and partnership to remain competitive and gain advantage over the competitors in the market. For instance, in August 2022, Media Components announced a new partnership with HubSpot, the leading growth platform. As a Certified Agency Partner, Media Components is looking forward to this partnership for increasing clients' businesses through inbound software, services, and support. In addition, Developed countries such as UK and U.S. are increasingly targeted by the key players to develop and launch digital media production software in marketplace. For instance, in February 2022, Brightcove Inc., the global leader of video for business, announced it has acquired Wicket Labs, an audience insights company that gives users visibility into content and subscriber analytics. With the acquisition of Wicket Labs, Brightcove customers have access to content and subscriber insights to make data-driven decisions to improve subscriber acquisition, conversions, engagement, and retention.
Key Market Insights
By type, the digital content creation segment was the highest revenue contributor to the market, and is estimated to reach $17.16 billion by 2031, with a CAGR of 11.1%. However, the interactive TV segment is estimated to be the fastest growing segment with the CAGR of 15.0% during the forecast period.By deployment mode, the on-premise segment was the highest revenue contributor to the market, and is estimated to reach $17.49 billion by 2031, with a CAGR of 10.3%.
By application, the digital advertising segment dominated the global market, and is estimated to reach $14.23 billion by 2031, with a CAGR of 10.5%. However, the E-learning segment is expected to be the fastest growing segment during the digital media production software market forecast.
Based on region, North America was the highest revenue contributor, accounting for $4.14 billion in 2021, and is estimated to reach $10.09 billion by 2031, with a CAGR of 9.5%.
Companies Mentioned
- Bynder
- HubSpot, Inc.
- Acquia, Inc.
- Apple Inc.
- DNN Corp
- CSG
- IBM Corporation
- Oracle
- Brightcove Inc.
- Adobe
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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