Press release
Playout Solutions Market is expected to reach US$1719.2 Mn by 2027
The Insight Partners
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Key Companies: Amagi, Evertz Microsystems, BroadStream Solutions, Harmonic Inc., Belden Inc., Imagine Communications, Pebble Beach Systems, Pixel Power, PlayBox Technology, Florical Systems
The global playout solutions market is accounted to US$ 1019.6 million in 2020 and is expected to grow at a CAGR of 7.7% during the forecast period 2019 - 2027, to account to US$ 1719.2 Mn by 2027. Increasing demand for personalized broadcast services is attributing to the growth of the market. The sports broadcasting industry is undergoing revolutionary innovations with technological developments to provide a better experience for users. Emerging technology and innovative workflows are transforming live sports production. The transition is mainly being driven by standalone streaming services, linear over-the-top (OTT) providers, and companies like Amazon, Facebook, and Twitter, bidding for streaming rights. In the US, increasing shift towards digital video platforms along with increasing bidding from Amazon and Facebook for sports streaming rights is changing the sports landscape in the country. Recently, Amazon obtained broadcasting rights of European Soccer Champions League matches in Germany, strengthening its sports content portfolio. Such demand from users for the personalized sports broadcast services will attribute to the growth of playout solutions market
The sports broadcasting industry is undergoing revolutionary innovations with technological developments to provide a better experience for users. Emerging technology and innovative workflows are transforming live sports production. The transition is mainly being driven by standalone streaming services, linear over-the-top (OTT) providers, and companies like Amazon, Facebook, and Twitter, bidding for streaming rights. In the US, increasing shift towards digital video platforms along with increasing bidding from Amazon and Facebook for sports streaming rights is changing the sports landscape in the country. Recently, Amazon obtained broadcasting rights of European Soccer Champions League matches in Germany, strengthening its sports content portfolio. Such demand from users for the personalized sports broadcast services will attribute to the growth of playout solutions market. The demand for enriched video experiences is expected to pave the way for broadcasters across the world, especially in Asia. The broadband proliferation is increasing across the Asia-Pacific owing to the on-demand consumer viewing. Moreover, subscription-based over-the-top (OTT) platforms such as Netflix are gaining traction in Asia. Moreover, the number of OTT providers is increasing, battling for streaming rights of various sports, including cricket, hockey, and others. All these factors are influencing the market growth for global playout solutions.
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Market Insights-Playout Solutions Market
Growth Of Technology In Every Industry
Despite automation is holding the key to a prosperous future in every industry, the introduction of 5G technology is acting as an automation propeller. Broadcasters and service providers are increasingly using the capabilities of AR, VR, and AI technologies to understand user behavior and deliver customized as well as effective services. Such innovations are expected to add value to consumer experience, and are of vital importance to digital ads. As digital content rendering will depend on the speed of Internet connectivity, the implementation of 5G technology will remain integral to the adoption of playout solutions for digital content broadcasting. The introduction of digitalization is one of the significant factors, which is boosting to the growth of playout solutions market. The digital asset ads can generate opportunities for the demand for playout solutions.
The playout solutions market has been segmented as follows:
Playout Solutions Market - by Component
Hardware
Software
Services
Playout Solutions Market - by Application
Sports
News
Entertainment
Lifestyle And Fashion
Others
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The Insight Partners is a one-stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Healthcare, Manufacturing and Construction, Media and Technology, Chemicals, and Materials.
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