Posted October 01, 2018 10:31:56Electronic products and digital content have emerged as an increasingly important part of the consumer electronics landscape and a major driver of growth for digital businesses.
With the rise of e-commerce and mobile devices, the digital product space is becoming more competitive.
In 2018, the market for digital products and content is expected to grow to USD $3.5 billion and will be expected to be worth USD $12.4 billion by 2022.
While the growth of digital products in 2018 has been impressive, the number of digital content and product categories has been increasing.
The market for products and services in 2018 is expected as USD $4.2 billion, up 17.4% from USD $2.8 billion in 2017.
Digital content and products sales in 2018 are expected to increase by USD $6.3 billion, or 16.5% from 2017.
While the market will be more fragmented due to the introduction of new platforms and technologies, the increase in digital content revenue is expected.
The growth of ecommerce and the mobile app marketplace have contributed to the digital content market’s growth.
In the US, digital content is projected to grow from USD 20.3 to USD 38.3 million in 2019, according to a study by the research firm eMarketer.
The growth of the ecommerce market is expected increase from USD 15.3 per cent in 2019 to USD 36.3 in 2020.
The total value of digital product sales in the US in 2018 was USD 3.5 trillion, a rise of USD 5.5 to USD 9.4 trillion in 2019 and USD 7.4 to USD 11.9 trillion in 2020 according to eMarketers research.
The digital content ecosystem continues to be expanding rapidly and is expected grow to more than USD 3 trillion by 2021.
Digital products and products in 2017 accounted for nearly 30% of digital revenue, up from less than 5% in 2018.
In 2020, digital products accounted for 30.3% of total digital revenue and grew by 18.4%, while the digital products market is forecast to grow USD 7 billion by 2021, up 18.5%.