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Broadcast and Media Technology Market Size & Share - 2033
Broadcast and Media Technology Market Size
As per the report, the broadcast and media technology market size has grown strongly in recent years. It will grow from $52.21 billion in 2023 to $57.21 billion in 2024 at a compound annual growth rate (CAGR) of 9.6%. The broadcast and media technology market size is expected to see rapid growth in the next few years. It will grow to $86.62 billion in 2028 at a compound annual growth rate (CAGR) of 10.9%.
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Rise In Media And Video Streaming Fuels Broadcast And Media Technology Market
A rise in access to media and video streaming is contributing to the growth of the broadcast and media technology market. Streaming media is the process of delivering multimedia data (such as video or audio) from a streaming service provider to an end-user. Streaming media uses HTTP, TCP/IP, and HTML protocols to deliver audio and video elements. For instance, in April 2022, according to a survey by the State of Play report by Nielsen Holdings Inc., a US-based data, information, and market measurement firm, between February 2021 and February 2022, there was a double-digit growth of 18% in Americans' average weekly time viewing a video. The total amount of streamed minutes increased from 143.2 billion to 169.4 billion. Over the last few years, viewers have increased the number of services they subscribe to and pay for. Such an increase in consumption of media and video streaming will propel the broadcast and media technology market growth.
Growing Embrace Of Technological Advancements In The Broadcast And Media Technology Market
Technological advancement is a key trend gaining popularity in the broadcast and technology market. The companies operating in the broadcast and media technology market are focusing on developing innovative products to meet industry demands and expand their market reach across the globe. For instance, in March 2022, Quantum Corporation, a US-based data storage, and management company, launched the Unified Surveillance Platform (USP), a durable, versatile, and secure software platform for recording and storing video surveillance data. Quantum is also offering a new range of smart network video recording servers in addition to this software platform (NVRs). To provide a next-generation, integrated appliance for capturing and recording security video, the Smart NVRs combine the Quantum Unified Surveillance Platform software with a purpose-built NVR server. The Quantum USP software consolidates the server's computing, storage, and networking capabilities into a single unified and scalable system, simplifying video recording infrastructure and lowering the total cost of ownership. Quantum's USP is built on software technologies that it bought from EnCloudEn last year. Quantum has further improved and enhanced the software to satisfy the specific requirements of the video surveillance market.
The broadcast and media technology market covered in this report is segmented -
1) By Solution Type: Web Content Management, Content Storage Solutions, Editorial and Print Workflow, Media/Digital Asset Management, Revenue Management, Ad and Data Management, User management
2) By Hosting Model Type: Integrated, Standalone
3) By End User Type: Broadcasters, Distributors, OTT, IPTV
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Major companies operating in the broadcast and media technology market report are Evertz Microsystems Limited, International Business Machines Corporation, Quantum Corporation, Rohde & Schwarz GmbH & Co. KG, Dell Technologies Inc., Amagi Media Labs Private Limited, Zoomph Inc., PHYTunes Inc., Focal Point VR Ltd, Arqiva Limited, Vislink Technologies Inc., C360 Technologies Inc., Brompton Technology Limited, Grass Valley USA LLC, AVI Systems Inc., Video Stream Networks S. L., WideOrbit Inc., Harmonic Inc., Eletec Broadcast Telecom S. A. R. L., Clyde Broadcast Technology Limited, Sencore Inc., EVS Broadcast Equipment SA, ACORDE Technologies S. A., Cisco Systems Inc., Telefonaktiebolaget LM Ericsson, CommScope Holding Company Inc., Avid Technology Inc., Blackmagic Design Pty. Ltd., Chyron Corporation, Dalet Digital Media Systems S. A., Dolby Laboratories Inc., Imagine Communications Corp., Ross Video Limited, Snell Advanced Media Limited, Sony Corporation, Vizrt Group AS, Xilinx Inc.
Contents of the report:
1. Executive Summary
2. Broadcast And Media Technology Market Report Structure
3. Broadcast And Media Technology Market Trends And Strategies
4. Broadcast And Media Technology Market - Macro Economic Scenario
5. Broadcast And Media Technology Market Size And Growth
…..
27. Broadcast And Media Technology Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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