Today, the increase in global internet users, high-speed connectivity, and unique mobile phone users is driving the uptake of digital content and related services. Technologies like artificial intelligence (AI), machine learning (ML), and extended reality (XR), coupled with evolving consumer behavior, and the rise of data-driven analytics are pushing businesses to find new ways to tackle growth challenges and establish competitive differentiation.
Furthermore, the following headwinds are spurring transformative change in the global digital content services ecosystem:
- The scalability of generative AI (GenAI) is pushing enterprises to integrate it into their products and workflows, as a critical building block for the next iteration of the internet.
- Innovations in immersive technologies like augmented reality (AR) and virtual reality (VR) are finding new applications in gaming, media and entertainment, training and education, design and prototyping, retail and shopping, and healthcare.
- Ensuring speedy content delivery and functionality is becoming increasingly important for businesses to sustain high conversion rates and reduce customer churn.
- Innovative business models are escalating the demand for robust infrastructure/services that help enterprises augment content creation, delivery, processing, and storage, while minimizing latency.
- Customers are spending more time and money on digital entertainment, intensifying the need for providers to augment social gaming and user engagement.
To empower business leaders with actionable intelligence that maximizes innovation, Frost & Sullivan has launched a series of Growth Council Think Tanks on Digital Content Services. These bring together cross-functional experts to identify growth opportunities, address strategic imperatives, and implement best practices, while unlocking future-proof competitive strategies.
Which growth opportunities will help your teams build recurring revenue pipelines in digital content services?
- Capitalizing on Digital Advertising and Demand Side Platforms (DSPs): As businesses and consumers increase their reliance on digital media, online advertising spaces are becoming a central destination for brands and agencies. This implies that several direct-to-consumer services are pivoting to become increasingly digital, while online service providers are diversifying revenue streams by adopting business models that include advertising as a tool to increase revenues.
- Developing Innovative Applications of XR: Advancements in edge computing, displays, sensors, and 5G, are transforming the way individuals engage with digital content in physical or virtual surroundings. Now, as companies across manufacturing, retail, construction, automotive mobility, and healthcare grapple with the dearth of experienced technical employees and workflow challenges, commercial XR hardware is poised to generate new opportunities worth $40.68 billion by 2029, helping businesses maximize operational efficiencies, facilitate remote collaboration, and enhance CX.
To delve deeper into these opportunities, explore the companies that have embraced them successfully, and to hear from experts in the field, click here.
In conclusion, the dynamic digital content services landscape is compelling enterprises to adapt and innovate, unlocking new applications for AR, VR, GenAI, the metaverse, ad-supported video streaming, digital advertising, and social gaming. By embracing disruptive technologies and strategic partnerships, providers can maximize alignment with evolving customer expectations to capitalize on these growth opportunities.
