Explosive growth in content marketing: Market size to increase by $654.78 million by 2028

New Delhi: In the last couple of years, several studies have reported that the content marketing industry is expected to grow at a CAGR of around 16%. It is a staggering projection, considering how it extrapolates over a few years. From social media influencers to rummy game platforms, and from a new web series to a product brand, everyone needs and is using it. It is hard to imagine where we would be without great content marketing campaigns. 

To reach out to consumers, every business relies on content marketing to a great extent. Take the gaming industry, for instance. The involvement of content marketing in this industry is increasing rapidly. Gone are the days when a fantasy sport, poker, or a rummy app would rely on organic growth. Today, the content marketing industry’s involvement in gaming is generating deep insights as well. For example, a content marketing report recently estimated that gaming covers 65% of the total Indian digital audience. The use of content marketing in every possible industry means that, as an industry, it is growing at a galloping pace.

The growth of content marketing

An industry research paper on content marketing estimates that the industry will continue to grow at a CAGR of 16.9% from 2023 to 2032. At this rate, the content marketing industry could be worth $2 trillion in value. Another study, carried out to estimate the growth of the industry till 2028, has predicted a market value growth of $654 million in four years. This, too, mathematically translates into a CAGR of over 16%.

The content marketing industry is witnessing the use and demand of a diverse range of content formats. Content consumption on social media is a key accelerant for the industry. Even outside of social media, there is a rising adoption of digital platforms that require content marketing. The partnering of content marketers and players from across industries is presenting a never-before opportunity to the content marketing industry.

The making of the content marketing industry

The innovative use of content in marketing a product or service, as a practice, is more than two centuries old. The use of pamphlets and brochures has been common among businesses for ages. The use of printed magazines to insert brand integration in articles was applied by agro-equipment makers John Deere back in the 1890s.

We mustn’t forget that content marketing saw avid use for over a century through radio and television, before finding higher grounds in the digital space. From informative advertisements on television to print commercials in newspapers and magazines, content marketing was shaping up as an integral part of advertising campaigns.  

Cut to the present day, and you have blogs and articles, pictorial graphics and video content flooding your mobile and computer screens. And chances are that you are happy consuming it too. In a survey done last year, 80% of respondents admitted to watching short social media video content daily.

Trends and drivers of content marketing growth

Content marketing is undergoing unprecedented growth. The industry and its practices have become more streamlined and result-oriented. It is addressing its audience in a more pinpointed manner. Businesses are seeing value in content marketing and are no longer shying away from investing in it. Content marketing is no longer as discretionary as it used to be. It is seen as the future of marketing itself. Let us find out why and how things fell into place for the content marketing industry.

From an experimental attempt to capture the consumer’s attention, content marketing has grabbed the spotlight. This has happened within the digital era, i.e., in the last decade or two. Marketers have figured out that by creating high-quality and engaging content, it is possible to get the customer’s interest as well as trust. A viral social media post by a brand works as well as a rummy game tutorial posted on a popular rummy app like Rummy Time. The success doesn’t end with the popularity of the content itself. The marketer can measure the ROI of the content and direct it towards the right audience with the use of content marketing processes and technology.

Apart from its driven approach, content marketing has grown due to the overwhelming vote of approval cast upon it by businesses. Businesses are now seeing the value in investments in content marketing. Marketers have been providing them with quantifiable results of their campaigns, proving to them how content marketing is helping their business. Not surprisingly, the global content marketing software market enjoyed an 18.4% CAGR in the five years ending 2023.

The future is bright for content marketing

We live in an age where businesses don’t ask if content marketing works. Instead, the question is how can we get more from it. This pursuit for higher ROI and better results will continue to push content marketing to the forefront of the marketing industry. AI-generated content is flooding the market at the moment, but it is also making high-quality content stand out. Besides, marketers are using advanced technologies and processes to deliver personalised and engaging content to their audience. With this backdrop, none of the content marketing growth estimates seem surprising.