Market Insights report
Digital Media is defined as audiovisual media contents and applications that are distributed directly over the Internet. This includes digital video content, digital music as well as digital games for different devices and electronically published written content. The worldwide revenue of US$627.7 billion in 2023 is expected to grow to US$848.5 billion up to 2027.
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By inventing the letterpress in 1450, Johannes Gutenberg laid the foundation for the reproduction of information on a massive scale. During the following centuries, this progress not only covered books, it also lead to the development of other media like music and videos becoming mass products as well. While radio and TV contributed to this emerging knowledge society in an analog way, PCs and the internet made the shift to the digital world. Now books, music, videos, and also video games are easily accessible on almost any device from anywhere in the world.
With this report we provide a comprehensive overview of the state of the Digital Media market as it is today as well as a prognosis with detailed information on twelve different market markets in the areas of Video Games, Video-on-Demand, ePublishing, and Digital Music. Besides all relevant market figures such as total and average revenues, and user and subscription numbers for the years from 2017 to 2027, we furthermore give detailed insights on current trends, key players, and important background knowledge of the Digital Media market.
Comparing the three major Digital Media markets – the U.S., China, and Europe – the U.S. is the biggest market in 2023 and will still be by 2027. In the U.S. market, revenues of US$104.3 billion are generated in 2022. Albeit having a relatively small CAGR of 8%, the market is expected to exceed revenues of US$195.8 billion by 2027. The second biggest Digital Media market is China with a market volume of US$67.3 billion in 2022. Growth rates of 8.2% annually will lead to revenues of US$145.4 billion in 2027, then accounting for half of all revenues generated in Asia. The market in Europe is worth US$96.5 billion in 2022 and Video Games being the biggest market. Revenues are expected to grow at a CAGR of 7.4% by 2027, resulting in revenues of US$128.3 billion.
Driven by the expansion of mobile internet access and growing connection speed rates, the increasing number of mobile and streaming devices leads to a steady growth in demand for all types of Digital Media. Particularly Asian countries demonstrate how increasing prosperity results in an exploding desire for knowledge, culture and entertainment. Thus, digital media of all forms provide the perfect source for satisfying these needs.
Note: CAGR: Compound Annual Growth Rate
Digital Media overview
Digital Media overview
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