Inclination towards Immersive Technological Advancement, Opens New Doors for Revolutionizing the Broadcast & Media Technology Industry to Achieve a CARG of 8.4% by 2030

Immersive technologies such as virtual reality and augmented reality facilitate gaining traction, states the recently published report description by a leading consulting, data analytics, and market research firm, Markntel Advisors. This integration of AR and VR in broadcast & media technology transforms the content into immersive, engaging, and interactive. Additionally, consumer preference has shifted towards more engaging and attention-seeking content, which can be easily available using these advanced technologies. This is the reason, behind the incredible demand for broadcast and media technology.  

The report further comprises “Global Broadcast and Media Technology Market Research Report: Global Broadcast and Media Technology Market Share, Size, Analysis, Trends, Bifurcations - By Component (Software [On-Premises, Cloud], Services [Consulting, Support & Maintenance, Managed Services]), By Solution (Web Content Management, Content Storage Solutions, Editorial and Print Workflow, Media/Digital Asset Management, Revenue Management, Ad and Data Management, User Management), By Hosting Model (Integrated, Standalone [Content Creation/Storage, Content Distribution]), By End User (Broadcaster [Terrestrial, Satellite, Cable], Studios & Creators, Distributors, OTT, IPTV), By Region (North America, South America, Europe, The Middle East & Africa, Asia-Pacific), By Company (AVI Systems, Dell Inc., Evertz Microsystems Limited, Grass Valley USA LLC, Harmonic Inc., IBM Corporation, Quantum Corporation, Rohde & Schwarz GmbH & Co. KG, VSN Video Stream Networks S.L., Wide Orbit Inc., Ateme, Clyde Broadcast, Sencore, EVS Broadcast Equipment, ETL Systems Ltd, Others Forecast (2024-2030)”, According to the report, the Global Broadcast and Media Technology Market size is projected to grow at a CAGR of around 8.4% during the forecast period, i.e., 2024-30. The market growth is also driven by mounting demand for immersive experiences, cloud-based solutions, IP-based broadcast infrastructure, 5G network rollout, evolving media formats, and global development of streaming platforms.

Leading Segmentation Analysis Based On Application, and Region

The Broadcast and Media Technology market is segmented into five segments based on components, solutions, hosting models, end-users, and region

• Based on Hosting Model, the market is segmented into Integrated, and Standalone [Content Creation/Storage, Content Distribution] in 2024, The standalone segment will dominate the Broadcast and Media Technology Market
• Based on End Users, the market is segmented into Broadcasters [Terrestrial, Satellite, Cable], Studios & Creators, Distributors, OTT, and IPTV, The OTT segment dominates the Broadcast and Media Technology Market
• Based on region, the market is segmented into North America, South America, Europe, Middle East & Africa, and Asia-Pacific, in 2024, Asia-Pacific is expected to dominate the Broadcast and Media Technology Market

Key Takeaways

• Market Growth: The global Broadcast and Media Technology Market is estimated to grow at a CAGR of around 8.4% during the forecast period, i.e., 2024-30. 
• Growth Driver: The Broadcast and Media Technology market expands with Increasing Deployment of 5G Technology
• Market Challenge: The Broadcast and Media Technology Market is expected to be hampered by Piracy and Copyright Infringement.
• By Hosting Model: The standalone category dominates the market segment by product due to adaptability, scalability, cost-efficiency, and less vendor lock-in, among others.
• By End Users: The OTT category dominates the market segment by product due to the rise of OTT platforms such as Netflix, Amazon Prime Video, and Disney+
• Regional Dominance: Asia Pacific dominates the Broadcast and Media Technology market due to the internet penetration, increased acceptance of OTT services, rising demand for high-quality content, and government backing.

Frequently Asked Questions (FAQs)-

1. What is the expected CAGR value of the Broadcast and Media Technology Market during the forecast period?
2. What are the trends influencing the current scenario of the Broadcast and Media Technology market?
3. What key factors would propel and impede the Broadcast and Media Technology industry across the Globe?
4. How has the industry been evolving in terms of geography & Broadcast and Media Technology adoption?
5. Which region will dominate the global Broadcast and Media Technology in 2024?
6. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?
7. Which is the Leading end-user segment in the Broadcast and Media Technology market?