Digital Media Market to Reach USD 2,648.96 Billion by 2032 | SNS Insider

The Digital Media Market is growing rapidly, driven by streaming, mobile adoption, AI, and evolving ad strategies across industries

AUSTIN, TX, UNITED STATES, February 28, 2025 /EINPresswire.com/ -- The Digital Media Market, valued at USD 874.42 billion in 2023, is projected to reach USD 2,648.96 billion by 2032, growing at a 13.16% CAGR. Expansion is driven by shifting consumer behavior, increasing digital content consumption, and evolving ad spend distribution. The rise of streaming services, mobile platforms, and interactive media shapes content trends. Advancements in AI, VR, and AR enhance digital experiences, accelerating growth and transforming advertising strategies in an increasingly tech-driven landscape.

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Keyplayers:
Fuji Media Holdings, Inc. (Fuji TV, Fuji On Demand)
Apple, Inc. (iPhone, Apple TV+)
Disney (Disney+, Hulu)
AT&T (DIRECTV, AT&T TV)
Sony Corporation (PlayStation 5, Sony Pictures Entertainment)
Netflix, Inc. (Netflix Streaming, Netflix Originals)
Paramount (Paramount+, CBS All Access)
Charter Communications Inc. (Spectrum TV, Spectrum Internet)
Thomson Reuters (Westlaw, Reuters News)
Amazon.com, Inc. (Amazon Prime, Amazon Fire TV)
Fox Corporation (Fox News, Fox Sports)
S&P Global (S&P Capital IQ, S&P Dow Jones Indices)
Kaltura, Inc. (Kaltura Video Cloud, Kaltura TV Platform)
Facebook (Facebook App, Facebook Marketplace)
Google (YouTube, Google Ads)
TikTok (TikTok App, TikTok For Business)
Twitter (Twitter App, Twitter Ads)
Instagram (Instagram App, Instagram Ads)
Snapchat (Snapchat App, Snap Spectacles)
Pinterest (Pinterest App, Pinterest Ads)
Spotify (Spotify Premium, Spotify Free)
Adobe Inc. (Photoshop, Adobe Acrobat)
Tencent (WeChat, Tencent Video)

By Content Type, Video Segment Dominates with 43% Market Share in 2023, Audio Segment Poised for Fastest Growth
In 2023, the video segment held the largest revenue share of 43% due to the increasing popularity of online streaming platforms such as Netflix, YouTube and Amazon Prime. Its dominance is further solidified by the growing demand for on-demand video, live streaming, and online entertainment. Wi-Fi and Bluetooth lead to the segment’s take-off and growth, and in particular, video technology for 4K video and 5G streaming.
Audio segment is expected to witness a growth rate of 15.84% CAGR during 2024-2032 owing to the growing popularity of podcasts, audiobooks, and music streaming platforms such as Spotify and Apple Music. The growing consumption of content through mobile increases the demand for audio-based entertainment. Moreover, echnological advancements in voice and, due to the proliferation of smart devices, audio is expected to be a major driver of the growth of digital media market in future

By Platform, Smartphones Dominate Digital Media Market with 42% Revenue Share in 2023, Computers to Witness Fastest Growth
The smartphone segment was the leading contributor toward the growth of Digital Media Market in 2023, generating around 42% of the total revenue. This leadership is driven by widespread smartphone usage for content consumption and the prevalence of mobile-first applications and platforms. Smartphones pack speedy mobile internet (including 5G), high-resolution displays, and intuitive interfaces, which continuously promote the consumption of digital media on smartphones as the device to access digital content.

The computer section is estimated to develop on 15.52% CAGR throughout 2024-2032 owing to growing requirements for additional screens along with elevated productivity methods. The boom of remote study, telecommuting, and gaming pushes demand for high-performance computers. Moreover, hardware and software technology evolution further enhances the experience of digital media on desktops and laptops, leading to preference for computers as content consumption platform.

By Application, Marketing & Advertisement Segment Leads, Streaming Segment Poised for Fastest Growth
In 2023, the Marketing & Advertisement segment held the largest share in the Digital Media Market, accounting for approximately 33% of total revenue. As consumer behavior increasingly shifts toward online interaction, platforms like social media and search engines have allowed brands to better target their ideal customers. The ability to track ad performance in real-time, along with the rise of influencer marketing, continues to grow, making digital advertising the preferred option for businesses that want to achieve measurable and impactful engagement.

The Streaming segment is anticipated to grow with a 15.26% CAGR during from 2024-2032 owing to growing demand for on-demand video content. The proliferation of streaming platforms such as Netflix, Disney+, and YouTube, combined with the popularity of smart TVs and mobile devices, has opened new opportunities for marketers to reach audiences. Moreover, the deployment of 5G networks also improves both the quality and accessibility of streaming services, which is contributing positively to the growth of the digital media segment.

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By Industry Vertical, Entertainment Segment Leads Digital Media Market, Retail Segment Set for Fastest Growth
In 2023, the Entertainment segment accounted for the largest portion of the Digital Media Market, contributing nearly 27% of revenue in total. This leadership is driven by increasing demand for digital content, including movies, TV shows, gaming, music, etc. Consumer engagement is fuelled by online gaming, social media and streaming platforms. Furthermore, developments in immersive technologies such as VR and AR improve entertainment experience which also strengthens the segment’s strong market position.

The Retail segment is expected to grow with 15.20% CAGR during the forecast period 2024-2032. Digital media has a key role to play in retail marketing with personalized advertisements, influencer marketing, etc. leading to increasing customer engagement. Systems like credit/debit cards, mobile wallets, and contactless payments are also becoming increasingly mainstream among consumers, paving the way for sector development through online shopping portals and services accelerating this process, rendering digital media an indispensable component of contemporary retail approaches.

North America Leads Digital Media Market with 39% Revenue Share in 2023, Asia Pacific Set for Fastest Growth
The Digital Media Market was led by North America in 2023 and is expected to maintain a share of around 39% in overall revenue. And this leadership is powered by the presence of big digital media players such as Netflix, Google and Amazon as well as good digital infrastructure and broad internet access. Few countries rival the region's support for digital media consumption with high smartphone penetration and the adoption of technologies like 5G and AI-powered content recommendations.

Asia Pacific is estimated to grow at the fastest CAGR during 2024-2032 owing to rapid urbanization, increased usage of smartphones, and enhanced internet infrastructure. Growing middle-class populations and rising disposable income drive demand for digital media, especially in entertainment and e-commerce. X dot services for M&V of media entities in Africa, along with the exponential growth of local content platforms and digital advertising, are significant factors in market expansion, making the region an important digital media philanthropy hub.

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