The Latest Digital Products Industry Statistics Explained
The global digital content market was valued at $211 billion in 2020.
The statistic “The global digital content market was valued at $211 billion in 2020” indicates the total estimated worth of digital content consumption and distribution across various platforms and industries worldwide in the year 2020. This value encompasses various forms of digital content such as online media, streaming services, digital publishing, gaming, and e-commerce platforms. The size of the market reflects the increasing prominence and impact of digital content in the global economy, driven by factors such as technological advancements, changing consumer preferences, and the growth of digital communication channels. This statistic provides insight into the scale of the digital content market and its significance as a key driver of economic activity and innovation in the modern digital era.
The digital media industry is projected to reach $292.4 billion by 2022.
The statistic stating that the digital media industry is projected to reach $292.4 billion by 2022 indicates the anticipated growth and financial significance of this sector. This figure suggests a substantial increase in revenue attributable to digital media platforms, services, and content creation. The projection implies that companies operating within the digital media industry can expect enhanced opportunities for revenue generation, market expansion, and technological advancements. Furthermore, this statistic serves as a barometer of the industry’s growth potential and socio-economic impact, highlighting the increasing reliance on digital platforms for communication, entertainment, and information dissemination in the contemporary global landscape.
The digital content creation market is expected to grow at a CAGR of 10.4% from 2020-2027.
This statistic means that the digital content creation market is projected to increase at a Compound Annual Growth Rate (CAGR) of 10.4% from the year 2020 to 2027. This indicates a steady and consistent growth rate over the specified time period, suggesting a positive outlook for the industry. The CAGR takes into account the year-over-year growth rate and offers a more accurate representation of the market’s performance compared to simple annual growth rates. A CAGR of 10.4% implies significant expansion and opportunities within the digital content creation sector, potentially driven by advancements in technology, increasing demand for digital content services, and evolving consumer preferences towards digital media.
The global eBooks market size was valued at USD 15.71 billion in 2019.
The statistic that the global eBooks market size was valued at USD 15.71 billion in 2019 represents the total value of eBook sales across the world during that year. This figure reflects the increasing popularity and importance of eBooks in the publishing industry, driven by advancements in digital technology and changing consumer preferences for convenient and accessible content. The market size is a key indicator of the economic significance of eBooks as a product category, highlighting the substantial revenue generated by digital book sales globally in 2019.
59% of all U.S. 18 to 29-year-olds were digital video gamers as of 2020.
The statistic indicates that as of 2020, 59% of all individuals in the United States aged 18 to 29 years were identified as digital video gamers. This suggests that a considerable majority of young adults within this age range engage in playing digital video games. This statistic may reflect the popularity and widespread acceptance of gaming as a form of entertainment and leisure activity among young adults in the United States. It also highlights the significant market share that the digital video gaming industry holds within this demographic, pointing towards the potential impact and influence of gaming on the behaviors and preferences of this age group.
Subscription services generated 86% of U.S. Digital Music Market revenues in 2020.
The statistic indicates that in 2020, subscription services were responsible for generating 86% of the total revenues in the U.S. Digital Music Market. This means that a significant majority of the revenue from digital music in the United States came from subscription-based models, such as streaming platforms like Spotify, Apple Music, and Amazon Music. This dominance of subscription services highlights the shifting consumer preferences towards convenient and on-demand access to a wide range of music content for a recurring fee, as opposed to traditional one-time purchases or downloads. Additionally, this statistic underscores the importance of subscription-based business models in the digital music industry and the ongoing trend of consumers opting for access over ownership in the way they consume music content.
The global digital publishing market will be worth $66.7 billion by 2026.
The statistic that the global digital publishing market will be worth $66.7 billion by 2026 indicates the projected value of the industry as a whole in terms of revenue generated from digital publishing activities. This figure suggests considerable growth in the digital publishing sector over the forecast period, reflecting an increasing trend towards digital content consumption and distribution. Factors contributing to this growth may include the continued rise in digital reading preferences, advancements in technology, the proliferation of mobile devices, and the expanding global reach of digital publishing platforms. The statistic serves as a valuable insight for stakeholders in the digital publishing industry to anticipate market trends, develop strategic business plans, and capitalize on opportunities for innovation and expansion in the upcoming years.
Global digital advertising spending is predicted to reach $517.51 billion in 2023.
The statistic that global digital advertising spending is predicted to reach $517.51 billion in 2023 represents the estimated total amount of money that businesses and organizations worldwide are projected to invest in digital advertising campaigns and initiatives during that year. This figure highlights the significant growth and importance of digital advertising in reaching target audiences and promoting products or services in the modern marketing landscape. The substantial investment in digital advertising reflects the shift towards online platforms and digital technologies as key avenues for reaching consumers effectively and efficiently. This statistic underscores the ongoing trend of digital transformation in the advertising industry and the increasing prominence of digital channels in the overall marketing strategies of businesses around the world.
Streaming apps accounted for over 50% of all digital media usage in 2020.
This statistic indicates that streaming apps, such as Netflix, YouTube, and Spotify, collectively accounted for more than half of all digital media consumption in 2020. This highlights the increasing popularity and dominance of streaming services as a preferred mode of consuming various forms of media, including video, music, and podcasts, over traditional forms of media such as television and radio. The shift towards streaming can be attributed to factors such as convenience, personalized content recommendations, and the wide availability of high-speed internet access. This trend underscores the changing landscape of the media industry and suggests that streaming platforms will continue to play a significant role in how people consume digital media in the future.
46% of global recorded music revenue comes from digital sales.
The statistic states that 46% of total revenue generated from recorded music globally is attributed to digital sales. This indicates a significant shift towards digital platforms in the music industry, highlighting the increasing popularity and accessibility of streaming services, online music stores, and digital downloads. This trend reflects the changing consumer behavior towards purchasing and consuming music, as well as the industry’s adaptation to new technologies and distribution models. The statistic underscores the growing importance of digital sales as a major revenue source for the global recorded music market.
The average US adult will spend over 100 minutes a day on digital video in 2021.
The statistic “The average US adult will spend over 100 minutes a day on digital video in 2021” indicates the significant consumption of digital video content among the adult population in the United States this year. This metric highlights the growing trend of digital video consumption as more individuals turn to online platforms for entertainment, information, and communication. The fact that adults are spending over 100 minutes a day on digital video reflects the widespread adoption of digital technologies and the shift towards online media consumption. This data serves as a key insight into how people are engaging with video content in the digital age and underscores the importance of digital video as a pervasive and influential medium in modern society.
By 2022, user penetration in the eServices market will hit 53.9%.
The statistic “By 2022, user penetration in the eServices market will hit 53.9%” refers to the percentage of the population that will be using eServices by the year 2022. This means that more than half of the population will be utilizing electronic services such as online shopping, digital payments, and other internet-based services. The increasing trend in user penetration indicates a growing reliance on digital platforms for various activities, reflecting the evolving technological landscape and changing consumer behaviors. This statistic highlights the importance for businesses to invest in digital strategies to cater to the demand for eServices and stay competitive in the market.
The music streaming market is expected to reach $27.5 billion by 2026.
The statistic that the music streaming market is expected to reach $27.5 billion by 2026 indicates the projected total revenue generated by the music streaming industry worldwide by the year 2026. This forecast suggests significant growth in the market, showcasing the increasing popularity and adoption of music streaming services among consumers. Factors contributing to this expected growth could include advances in technology, the convenience of on-demand music access, the rise of subscription-based streaming platforms, and the shift away from physical music purchases. As such, this statistic underscores the potential opportunities for growth and investment in the music streaming industry in the coming years.
50% of the global population will use digital banking by 2021.
The statistic that 50% of the global population will use digital banking by 2021 indicates the expected widespread adoption of digital banking services around the world. This means that half of the world’s population will likely access their banking services through online platforms, mobile apps, and other digital channels by the year 2021. This trend is driven by factors such as technological advancements, convenience, and the increasing availability of internet access worldwide. As more people embrace digital banking, traditional brick-and-mortar banks may need to adapt to these changing preferences or risk becoming less relevant in the financial industry.
Mobile apps are expected to generate over $935 billion in revenue by 2023.
The statistic that mobile apps are expected to generate over $935 billion in revenue by 2023 signifies the significant financial impact and continued growth of the mobile app industry. This projection reflects the increasing consumer demand for mobile applications across various sectors such as entertainment, gaming, communication, e-commerce, and productivity. The revenue generated from mobile apps includes in-app purchases, subscriptions, advertising, and app downloads, highlighting the diverse monetization strategies employed by app developers and businesses. The statistic underscores the lucrative opportunities present in the mobile app market and underscores the importance for businesses to invest in and capitalize on the mobile app sector to remain competitive and drive revenue growth.
E-Learning Market size surpassed USD 200 billion in 2019 and is anticipated to grow at over 8% CAGR between 2020 and 2026.
The statistic “E-Learning Market size surpassed USD 200 billion in 2019 and is anticipated to grow at over 8% CAGR between 2020 and 2026” indicates that the global e-learning industry exceeded a value of $200 billion in 2019 and is expected to continue its growth trajectory with a compound annual growth rate (CAGR) of over 8% between 2020 and 2026. This suggests a strong positive trend in the e-learning market, driven by factors such as increasing demand for online education, technological advancements, and the adoption of e-learning solutions across various sectors. The projected growth rate highlights the ongoing shift towards digital learning platforms and presents opportunities for stakeholders in the industry to capitalize on the expanding market potential.
The global market for Web Design Services is projected to reach US$40.8 billion by 2027.
The statistic indicates that the global market for Web Design Services is expected to grow significantly and reach a value of US$40.8 billion by the year 2027. This projected growth suggests an increasing demand for web design services as businesses and individuals seek to establish and enhance their online presence. Factors such as the continued expansion of e-commerce, the importance of user experience, and the proliferation of digital platforms contribute to the anticipated growth in the web design industry. This statistic serves as a valuable insight for businesses operating in the web design sector, highlighting the potential opportunities for growth and market expansion in the coming years.
The digital asset management market is projected to reach $8.1 billion by 2024.
The statistic that the digital asset management market is projected to reach $8.1 billion by 2024 indicates the expected growth in the valuation of the industry by that year. This projection suggests a significant increase in the demand for digital asset management solutions, driven by factors such as the exponential growth of digital content and the need for efficient organization, retrieval, and distribution of such assets across various industries. The substantial market value also reflects the increasing recognition of the importance of managing digital assets effectively to enhance productivity, streamline workflows, and ensure compliance with regulations. This projection serves as an important indicator for businesses and investors looking to capitalize on the opportunities presented by the growing digital asset management market.
Conclusion
Ultimately, the statistics presented highlight the rapid growth and promising future of the digital products industry. Businesses and consumers alike are embracing digital products at an increasing rate, leading to significant opportunities for innovation and revenue generation. By leveraging these insights, industry players can better understand market trends, consumer preferences, and competitive dynamics to drive their success in this dynamic and evolving landscape.
References
0. – https://www.www.alliedmarketresearch.com
1. – https://www.www.grandviewresearch.com
2. – https://www.www.researchandmarkets.com
3. – https://www.www.businessinsider.com
4. – https://www.www.statista.com
5. – https://www.www.emarketer.com
6. – https://www.www.globenewswire.com
7. – https://www.www.gminsights.com
8. – https://www.www.riaa.com
9. – https://www.www.comscore.com
10. – https://www.www.prnewswire.com
11. – https://www.www.ifpi.org
