Digital Subscription Market Size, Share & Growth Report 2031
Digital Subscription Market Size, Share & Growth Report 2031
Segments - Digital Subscription Market by Applications (Household Level and Institutional Level), Industries (Banking, Retail & Consumers, Media & Entertainment, Travel & Tourism, and Publishing), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031
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| Report ID :ICT-SE-4134
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| 215 Pages
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Report Description
The global digital subscription market size was valued at USD 928.42 Billion in 2022, and is anticipated to reach USD 4613.77 Billion by 2031, at a CAGR of 19.5% during the forecast period, 2023-2031. The growth of the market is attributed to the wide acceptance of digitalization across industries, cost-effective digital services, and easy access to various exclusive entertainment programs.
Digital subscription, also known as electronic subscription, refers to a software service for which an individual user or a company has to pay a fixed amount of fees to avail that particular software or services using their smart electronic devices. Through the subscription, a consumer with the help of the Internet can easily access to a particular service for a certain period of time, which is particularly categorized as monthly, quarterly, and annually.
Netflix subscription, which has the biggest subscription service with 221.8 million global paid subscribers till the end of 2021, offer various exclusive streaming service or content for entertainment and wide library of premier original programming for various time periods. Additionally, the cost-effective factor plays a vital role for the rapid expansion of the market.
As per a report by the American Press Institute, based on a survey of 98 US news organizations, the average price for a digital subscription was USD 3.11 per week, a metered paywall model averaging cost to USD 2.97, averaged freemium models was USD 3.52, and some averaged hard paywall model cost to USD 4.43.
Ranging from a mobile application to a web-based online platforms, different types of subscription services are available for different purposes such as image and videos editing, finance & accounting programming, and customer relationship management. Although digital subscription services had been mainly associated with marketing and sales, the services are increasingly adopted across several industries including banking, retail, and travel.
Through the services, users can improve their management network, enhance workflow, and help in developing innovative marketing strategies within a short period of time. Based on the subscription programs; auto-ship, curated box, and access are the three key categorized for users to choose and explore their experience for various services.
The COVID-19 pandemic had generated key opportunities for the massive expansion of the market due to rising demand for subscription service among households as members had to stay inside their home 24/7, impacted by the movement restriction imposed by governments.
Temporary shutdown of theatre and other entertainment spaces along with the emergency closure of malls have resulted in the rapid access to subscription services that facilitate a variety of entertainment programs and easy process for online shopping for consumers.
Digital Subscription Market Trends, Drivers, Restraints, and Opportunities
- Easy accessibility of service providers’ website and unique experience for consumers on ad-free content service of online platforms present key drivers of the market.
- User-friendly system for watching movies online, online shopping, and gaming & videos act as key factors boosting the market.
- Rapid expansion of ecommerce platforms and wide acceptance of online transaction for payment methods are expected to propel the market during the forecast period.
- Concerning issues of users’ data breach and lack of ability to proper management of services among various enterprises across industries are major hurdles that can hamper the market expansion.
- Technological advancement that allow to develop innovative mobile apps and rapid entry of new players are offering several growth opportunities of the market.
Scope of Digital Subscription Market Report
The report on the global digital subscription market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes |
Details |
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Report Title |
Digital Subscription Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2022 |
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Historic Data |
2016–2021 |
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Forecast Period |
2023–2031 |
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Segmentation |
Applications (Household Level and Institutional Level) and Industries (Banking, Retail & Consumers, Media & Entertainment, Travel & Tourism, and Publishing) |
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Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
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Key Players Covered in the Report |
Netflix; Amazon; Flipkart; Microsoft Corporation; Salesforce; Oracle Corporation; TechCrunch; SAP SE; Vigorate Digital Solutions; and Algolia |
Digital Subscription Market Segment Insights
Applications Segment Analysis
Based on applications, the global digital subscription market is bifurcated into household level and institutional level. The household level segment is expected to account for a large market share during the forecast period owing to increasing average number of subscriptions per household and individuals.
Factors such as rising disposable income, changing lifestyle, and increasing spending on entertainment sector among a large number of the population worldwide are key drivers of the segment. On the other hand, the institutional level segment is anticipated to hold a key share of the market in the coming years owing to wide use of the subscription system of academic journals and newspaper’s web content among educational institutions such as universities.
Industries Segment Analysis
On the basis of industries, the market is segregated into banking, retail & consumers, media & entertainment, travel & tourism, and publishing. The media & entertainment segment is projected to dominate the market during the forecast period since the rising popularity of Amazon Prime, Netflix, and other online subscription platforms that offer access to a vast pool of entertainment programs such as movies and web series.
On the other hand, the retail & consumers segment is anticipated to register a high growth rate during the targeted period owing to the expansion of ecommerce, wide adoption of advanced third party apps to ensure smooth function of retail service, and provide effective consumer relationship management.
Regional Analysis
In terms of regions, the global digital subscription market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Europe and North America are two major regions dominating the market and they both are likely to represent a large market share of the market in the coming years.
Early acceptance of digitalization and advanced digital services along with the wide establishment of a chain of world-class universities and educational institutions present main factors boosting the markets of these two regions.
On the other hand, Asia Pacific is a fast-growing region and the regional market is expected to constitute a key share of the market during the projected period owing to increasing awareness of digital subscription process of various online services and platforms. Additionally, the rising number of young adults using smart devices for video streaming and gaming further push the market expansion in the region.
Segments
The global digital subscription market has been segmented on the basis of
Applications
- Household Level
- Institutional Level
Industries
- Banking
- Retail & Consumers
- Media & Entertainment
- Travel & Tourism
- Publishing
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
Competitive Landscape
Key players competing in the global digital subscription market are Netflix; Amazon; Flipkart; Microsoft Corporation; Salesforce; Oracle Corporation; TechCrunch; SAP SE; Vigorate Digital Solutions; and Algolia.
Some of these player have adopted various business development strategies such as merger or acquisition, partnership or collaboration, and launching new subscription systems to expand their consumer base globally and gain a competitive edge in the market.
Google Workspace, HubSpot, Adobe, and Slack are some of the key platforms that offer subscription models for users or enterprises who can access to innovative software for their effective management of business operations.
A digital-born subscription-based French news platform, MediaPart is home to 67 million people in France and has more than 170k subscribers who are paying €11m/month, thereby, generating €16.6 million in revenues with 20% operating margin.
Table Of Content
1. Executive Summary2. Assumptions and Acronyms Used
3. Research Methodology
4. Digital Subscription Market Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Digital Subscription Market Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Digital Subscription Market Market - Supply Chain
4.5. Global Digital Subscription Market Market Forecast
4.5.1. Digital Subscription Market Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Digital Subscription Market Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Digital Subscription Market Market Absolute $ Opportunity
5. Global Digital Subscription Market Market Analysis and Forecast by Applications
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Applications
5.2.2. Y-o-Y Growth Projections by Applications
5.3. Digital Subscription Market Market Size and Volume Forecast by Applications
5.3.1. Household Level
5.3.2. Institutional Level
5.4. Absolute $ Opportunity Assessment by Applications
5.5. Market Attractiveness/Growth Potential Analysis by Applications
6. Global Digital Subscription Market Market Analysis and Forecast by Region
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Region
6.2.2. Y-o-Y Growth Projections by Region
6.3. Digital Subscription Market Market Size and Volume Forecast by Region
6.3.1. North America
6.3.2. Latin America
6.3.3. Europe
6.3.4. Asia Pacific
6.3.5. Middle East and Africa (MEA)
6.4. Absolute $ Opportunity Assessment by Region
6.5. Market Attractiveness/Growth Potential Analysis by Region
6.6. Global Digital Subscription Market Demand Share Forecast, 2019-2026
7. North America Digital Subscription Market Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.2. North America Digital Subscription Market Market Size and Volume Forecast by Country
7.2.1. U.S.
7.2.2. Canada
7.3. Absolute $ Opportunity Assessment by Country
7.4. North America Digital Subscription Market Market Size and Volume Forecast by Applications
7.4.1. Household Level
7.4.2. Institutional Level
7.5. Basis Point Share (BPS) Analysis by Applications
7.6. Y-o-Y Growth Projections by Applications
7.7. Market Attractiveness/Growth Potential Analysis
7.7.1. By Country
7.7.2. By Product Type
7.7.3. By Application
7.8. North America Digital Subscription Market Demand Share Forecast, 2019-2026
8. Latin America Digital Subscription Market Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Latin America Average Pricing Analysis
8.2. Latin America Digital Subscription Market Market Size and Volume Forecast by Country
8.2.1. Brazil
8.2.2. Mexico
8.2.3. Rest of Latin America
8.3. Absolute $ Opportunity Assessment by Country
8.4. Latin America Digital Subscription Market Market Size and Volume Forecast by Applications
8.4.1. Household Level
8.4.2. Institutional Level
8.5. Basis Point Share (BPS) Analysis by Applications
8.6. Y-o-Y Growth Projections by Applications
8.7. Market Attractiveness/Growth Potential Analysis
8.7.1. By Country
8.7.2. By Product Type
8.7.3. By Application
8.8. Latin America Digital Subscription Market Demand Share Forecast, 2019-2026
9. Europe Digital Subscription Market Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Europe Average Pricing Analysis
9.2. Europe Digital Subscription Market Market Size and Volume Forecast by Country
9.2.1. Germany
9.2.2. France
9.2.3. Italy
9.2.4. U.K.
9.2.5. Spain
9.2.6. Russia
9.2.7. Rest of Europe
9.3. Absolute $ Opportunity Assessment by Country
9.4. Europe Digital Subscription Market Market Size and Volume Forecast by Applications
9.4.1. Household Level
9.4.2. Institutional Level
9.5. Basis Point Share (BPS) Analysis by Applications
9.6. Y-o-Y Growth Projections by Applications
9.7. Market Attractiveness/Growth Potential Analysis
9.7.1. By Country
9.7.2. By Product Type
9.7.3. By Application
9.8. Europe Digital Subscription Market Demand Share Forecast, 2019-2026
10. Asia Pacific Digital Subscription Market Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Asia Pacific Average Pricing Analysis
10.2. Asia Pacific Digital Subscription Market Market Size and Volume Forecast by Country
10.2.1. China
10.2.2. Japan
10.2.3. South Korea
10.2.4. India
10.2.5. Australia
10.2.6. Rest of Asia Pacific (APAC)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Asia Pacific Digital Subscription Market Market Size and Volume Forecast by Applications
10.4.1. Household Level
10.4.2. Institutional Level
10.5. Basis Point Share (BPS) Analysis by Applications
10.6. Y-o-Y Growth Projections by Applications
10.7. Market Attractiveness/Growth Potential Analysis
10.7.1. By Country
10.7.2. By Product Type
10.7.3. By Application
10.8. Asia Pacific Digital Subscription Market Demand Share Forecast, 2019-2026
11. Middle East & Africa Digital Subscription Market Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Middle East & Africa Average Pricing Analysis
11.2. Middle East & Africa Digital Subscription Market Market Size and Volume Forecast by Country
11.2.1. Saudi Arabia
11.2.2. South Africa
11.2.3. UAE
11.2.4. Rest of Middle East & Africa (MEA)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Middle East & Africa Digital Subscription Market Market Size and Volume Forecast by Applications
11.4.1. Household Level
11.4.2. Institutional Level
11.5. Basis Point Share (BPS) Analysis by Applications
11.6. Y-o-Y Growth Projections by Applications
11.7. Market Attractiveness/Growth Potential Analysis
11.7.1. By Country
11.7.2. By Product Type
11.7.3. By Application
11.8. Middle East & Africa Digital Subscription Market Demand Share Forecast, 2019-2026
12. Competition Landscape
12.1. Global Digital Subscription Market Market: Market Share Analysis
12.2. Digital Subscription Market Distributors and Customers
12.3. Digital Subscription Market Market: Competitive Dashboard
12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
12.4.1. Netflix
12.4.2. Amazon
12.4.3. Flipkart
12.4.4. Microsoft Corporation
12.4.5. Salesforce
12.4.6. Oracle Corporation
12.4.7. TechCrunch
12.4.8. SAP SE
12.4.9. Vigorate Digital Solutions
12.4.10. Algolia
Methodology
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