The global digital video content market was valued at over $38 billion in 2015 and is expected to surpass $121 billion by 2020, says Technavio.
Technavio has announced its latest market research report on global digital video content market to its media and entertainment services portfolio. This market analysis discusses the major drivers and key emerging trends that will influence the growth of the global digital video content market during the forecast period 2016-2020. Some of the top vendors listed in this industry analysis include Amazon, YouTube, Hulu, and Netflix.
In terms of geographical analysis, the Americas will be the largest region in the global market, accounting for around 42% of the total market share during 2015. High-quality video streaming services provided by YouTube and Netflix is the primary driver of the growth in the American market.
“Virtual reality (VR) and 360⁰ videos are the latest technological advancements in the market. These videos are extremely popular among consumers as they provide improved video viewing experience to the end-users. These videos are recorded using advanced camera systems that have 360⁰ angle feature where viewers get the entire pan and have the ability to rotate the screen as per their viewing choice,” says Ujjwal Doshi, a lead analyst at Technavio for research on media and entertainment services.
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The new industry research report from Technavio analyzes some of the key drivers and trends responsible for the growth of this market and its sub-segments.
Increase in demand for live video streaming solutions
Sports events are the most viewed vertical with the largest live video streaming audience in the digital video content market. These portals provide access to a varied choice of content to customers and platforms like Ustream and Livestream, which are extremely popular among consumers. TV broadcasters like BBC, ESPN, and CNN are also offering live streaming through their online channels. The service providers are also offering flexible services to consumers to increase their market share.
Growing popularity of vertical videos
The increasing use of smartphones is rising the consumption and popularity of vertical videos and digital video content on mobiles devices. Digital video content service providers are adopting vertical video format to optimize their content for smartphone-based viewers. For instance, Snapchat Discover in 2015 was a major platform spearheading the growth of vertical videos, with more than seven billion video views per day.
Increasing popularity of interactive videos
Interactive videos are used to learn about customer preference and to engage viewers. This system enhances the customer experience as viewers can click, swipe, and engage via the call-to-action overlays. These videos have better customer engagement than normal digital videos. It also helps students and professionals as it facilitates distance learning and access to quality content from any corner of the world. The easy availability of content that includes interactive study sessions and cooking lessons will help in the growth of the market. For instance, Coursera and edX provide interactive learning options and also have tie-ups with universities like Harvard and Stanford.
High viewer controls over content
The viewers can choose content from the multiple genres and watch at their convenience without the interference of ads and breaks resulting in the attractiveness of platforms like YouTube and Netflix. Digital video content platforms also provide user-friendly navigation options like the list of content, corresponding prices, and active suggestions giving the users more control and options over the content of the media.
Other prominent vendors in the digital video content market include Apple, AT&T, Blinkbox, British Telecom, CinemaNow, Cox Communications, Crackle, Deutsche Telekom, DirecTV, Indieflix, Popcornflix, Rovi, SnagFilms, Time Warner, Verizon, and Vudu.
This research report includes an in-depth analysis and market shares and sizes of the sub-segments and geography. It provides a comprehensive analysis of the key companies, including their market shares, business overview, key financials, etc. The market study also offers a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global Digital Video Content Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Electronic Home Video Market 2016-2020
- Global Content Authoring Tools Market 2016-2020
- Global Mobile Content Market 2015-2019
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