LONDON--(BUSINESS WIRE)--The global digital video content market is expected to post a CAGR of around 3% during the period 2020-2024, according to the latest market research report by Technavio. Request a free sample report
Factors such as growing digital literacy, rising per capita income, and rising internet penetration have increased the adoption of mobile devices such as smartphones, tablets, and laptops. This is encouraging market vendors to develop apps that allow users to stream video content through their mobile devices. These apps also record personal information of users, which helps vendors in retaining their customers by targeted advertising. The rising penetration of mobile devices is positively influencing OTT services, which is crucial in driving the growth of the market.
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As per Technavio, the growing number of partnerships and acquisitions in VOD will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Global Digital Video Content Market: Growing Number of Partnerships and Acquisitions in the VOD Market
The growing demand for VOD services is encouraging many players in the market to form strategic alliances to expand their geographical presence, product portfolio, customer base, and market share. For instance, in January 2019, ViacomCBS Inc. (ViacomCBS) acquired Pluto TV. The acquisition added millions of new Pay-TV customers to the company. It also enabled its customers to access Pluto TVs digital content for free without subscription. Such acquisitions and partnerships will boost the growth of the global digital video content market during the forecast period.
“Implementation of AI by OTT service providers and the rising popularity of DCB in the OTT market will further boost market growth during the forecast period,” says a senior analyst at Technavio.
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Global Digital Video Content Market: Segmentation Analysis
This market research report segments the global digital video content market by deployment (Pay-TV and OTT) and geography (APAC, Europe, MEA, North America, and South America).
The North American region led the digital video content market in 2019, followed by Europe, APAC, South America, and MEA respectively. During the forecast period, the North American region is expected to register the highest incremental growth. This is due to the significant growth in the subscriber base of OTT services in the region.
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Some of the key topics covered in the report include:
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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