DUBLIN--(BUSINESS WIRE)--The "Broadcast And Media Technology Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the global broadcast and media technology market.
The global broadcast and media market is expected to grow from $43.69 billion in 2021 to $48.47 billion in 2022 at a compound annual growth rate (CAGR) of 10.9%. The broadcast and media market is expected to reach $72.09 billion in 2026 at a CAGR of 10.4%.
Major players in the broadcast and media technology market are Evertz Technologies Limited, IBM Corporation, Quantum Corporation, ROHDE & SCHWARZ GmbH & Co. KG, Dell Inc. (EMC Corporation), Grass Valley, AVI Systems, Video Stream Networks S.L., WideOrbit Inc., Harmonic Inc., Eletec Broadcast Telecom S.A.R.L, Clyde Broadcast, Sencore, EVS Broadcast Equipment, and ACORDE Technologies S.A.
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The broadcast and media technology market consist of sales of the broadcast and media technology by entities (organizations, sole traders, and partnerships) that refer to a variety of communication systems that entail transferring data across long distances utilizing electronic and electromagnetic approaches.
Radio and television broadcasting technology, satellite broadcasting technology, digital cable and satellite television technology, digital terrestrial television, and satellite television technologies are the examples of broadcast and media technology.
The various solutions in broadcast and media technology include web content management, content storage solutions, editorial, and print workflow, media/digital asset management, revenue management, ad and data management, and user management. Web content management is a software used to manage content allowing multiple contributors to create, edit and publish. The hosting models in the broadcast and media technology include integrated and standalone. The end users of broadcast and media technology include broadcasters, distributors, OTT, and IPTV.
North America was the largest region in the broadcast and media technology market in 2021. The regions covered in the broadcast and media technology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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 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. According to the survey, 58% of people who pay for video subscriptions do so for three or more streaming services, up from 32% in 2019. Such an increase in consumption of media and video streaming will propel the growth of broadcast and media technology market.
Technological advancement is a key trend gaining popularity in the broadcast and technology market. The companies operating in 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.
In September 2021, Valsoft Corporation Inc., a Montreal-based company that offers end-to-end software solutions for the broadcast industry acquired VSN Innovation and Media Solutions for an undisclosed amount.
This deal will help Valsoft put Aspire Software (an operating group of the company) in a new vertical to strengthen the company's expansion in Spain. VSN Video Stream Networks S.L. is a Japan-based industry leader in media and broadcasting solutions and its products manage the whole media life cycle in a unified and seamless manner, from ingest to broadcast and archive.
The countries covered in the broadcast and media technology market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
For more information about this report visit https://www.researchandmarkets.com/r/tn9ies