Global Digital Publishing Market 2020-2024| Growing Adoption of OTT Standards to Boost the Market Growth

The global digital publishing market is expected to grow by USD 64.83 billion during 2020-2024, according to the latest market research report by Technavio. Request a free sample report

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Technavio has announced its latest market research report titled global digital publishing market 2020-2024 (Graphic: Business Wire)

Several countries such as the UK, Australia, and the US have already migrated toward digitized cable TVs, while countries such as India are currently in Phase III of digitization. Digitization provides transparency and offers benefits such as the availability of more channels with better quality and significantly improved viewing experience. With the digitization mandate, there has been an increase in set-top-boxes, thereby creating a demand for quality content and video-on-demand and streaming functionalities. In countries like China, where the digitization of cable TV is already mature, the adoption of IPTV and OTT media services is high. This development throws light on the large market available for the delivery of digital content through VOD and streaming mediums, thereby positively impacting the market during the forecast period.

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As per Technavio, the growing adoption of OTT standards 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 Publishing Market: Growing Adoption of OTT Standards

Over the years, the communication industry has been witnessing significant growth in OTT applications. OTT services include YouTube, Facebook, Skype, Netflix, and Viber. OTT delivers video and audio data using the Internet without the interference of service providers. Moreover, operators are also focusing on integrating OTT into set-up boxes (STBs). Furthermore, the availability of powerful mobile devices is further enhancing the capabilities of OTT video services for consumers. Also, OTT apps such as Hulu Plus and Netflix are becoming more popular among consumer groups than TV Everywhere apps. As a result, the adoption of OTT services is increasing, thereby driving the growth of the digital publishing market.

“Proliferation of mobile applications, increased Internet penetration, and digitization of paperback books will have a significant impact on the growth of the digital publishing market during the forecast period,” says a senior analyst at Technavio.

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Global Digital Publishing Market: Segmentation Analysis

This market research report segments the digital publishing market by type (text content, video content, and audio content) and geography (Europe, North America, APAC, South America, and MEA).

The APAC region led the digital publishing market in 2019, followed by North America, Europe, MEA, and South America. The growth of the digital publishing market share in APAC can be attributed to factors such as the presence of established vendors, and the growing popularity of Pay TV and subscription TV in APAC.

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