Press release
Broadcast And Media Technology Market To Be Driven By The Rapid Technological Advancements In The Forecast Period Of 2023-2028
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter's Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
Forecast CAGR (2023-2028): 6.9%
Forecast Market Size (2027): USD 62.12 billion
The global broadcast and media technology industry is being driven by advancements in communication sector as the world has become more interconnected. As broadcasting firms strive to provide clients with a seamless communication experience, the industry is expected to experience substantial improvements in the coming years. Furthermore, the rising use of the internet, as well as increasing access to media and video streaming, have further propelled the growth of the broadcast and media technology industry.
Broadcast and Media Technology Industry Definition and Major Segments
Media broadcasting refers to public broadcast of audio and video. Media broadcasting is required for the audience to be able to listen to radio programmes, watch television shows or other digital platforms.
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The broadcast and media technology market, on the basis of platform, can be segmented into:
Terrestrial
Satellite
Cable
OTT
IPTV
On the basis of application, the market can be segmented into:
Broadcaster
Studios and Creators
Distributors
OTT
IPTV
Others
On the basis of components, the market can be divided into:
Software
Services
Among these, while software is further subdivided into on-premises and cloud-based segments, services is subdivided into consulting, support and maintenance, and managed services segments.
On the basis of its solution, the market can be bifurcated into:
Web Content Management
Content Storage Solutions
Editorial and Print Workflow
Media/Digital Asset Management
Revenue Management
Ad and Data Management
User Management
On the basis of hosting type, the market segmented into:
Integrated
Standalone
Among these, while standalone is further subdivided into content creation/storage and content distribution.
The regional markets include:
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
Broadcast and Media Technology Market Trends
The broadcast and media technology industry is being driven by the continual growth and integration of technology to give improved broadcasting services to clients. Because of the rising on-demand content penetration, live video streaming popularity, increased digital advertising, and improving network architecture have aided to the industry's growth. Furthermore, content consumption continues to rise as more next generation linked devices are adopted, resulting in a better customer experience. Moreover, new broadcasting and media systems has significantly bolstered the growth of the industry by addressing changing patterns of content consumption.
Key Market Players
The major players in the market are Evertz Technologies Limited, Video Stream Networks S.L., Harmonic Inc., and Others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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