
Broadcasting and media technology market
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The broadcast and media technology market is projected to grow dramatically to $55.92 billion by 2024, anticipating advancements in remote production, AI, immersive media and virtual reality.
What is the expected market size of the global broadcast and media technology market and its growth rate?
The broadcast and media technology market is witnessing a robust growth trajectory.
• The market size was estimated at $55.92 billion in 2024 and is expected to grow to $60.61 billion by 2025, reflecting a compound annual growth rate (CAGR) of 8.4%.
• The rising trend in market value is attributed to the increasing demand for immersive media and virtual reality, digital transformation and the Internet revolution.
• The market is forecast to reach $99.12 billion by 2029 at a compound annual growth rate (CAGR) of 13.1%. Future market growth will be fueled by remote production and collaboration tools, regulatory changes and standards, hybrid broadcast-broadband services, and the rise of artificial intelligence.
What is driving growth in the broadcast and media technology market?
Increased media access and the rise of video streaming are key drivers of the growth of the broadcasting and media technology market. The delivery of multimedia content by streaming service providers to end users is highly dependent on HTTP, TCP/IP and HTML protocols, which contribute significantly to the market growth. A notable example is the 18% annual growth in the average weekly time Americans spend watching videos between February 2021 and February 2022, according to a Nielsen Holdings Inc. survey. The increase in media and video streaming consumption will drive market growth in the coming years.
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Who are the key players driving the broadcasting and media technology market growth?
Prominent companies in the broadcasting and media technology market include:
• Evertz Microsystems Limited
• International Business Machines Corporation
• Quantum company
• Rohde & Schwarz GmbH & Co. KG
• Dell Technologies Inc.
• Amagi Media Labs Private Limited
What are the main trends in the broadcasting and media technology market?
Key trends dominating the future of the Broadcast and Media Technology market include:
• Streaming dominance
• Live content and interactivity
• Personalization AI
• Immersive experiences
• Remote workflows
What are the segments of the global broadcast and media technology market?
• Solution Type: Web content management, content storage solutions, editorial and print workflow, media or digital asset management, revenue management, advertising and data management, user management
• Hosting model type: Integrated, Standalone
• End user type: broadcasters, distributors, OTT, IPTV
Which region is the market leader in broadcasting and media technology?
North America will be the largest market for broadcasting and media technology in 2024. During the forecast period, Asia Pacific is expected to become the fastest growing region. The report also covers market dynamics in regions such as Western Europe, Eastern Europe, South America, the Middle East and Africa.
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What is covered in the global Broadcast and Media Technology Market report?
– Market Size Analysis: Analyze the Broadcast And Media Technology market size based on key regions, countries, product types and applications.
– Market Segmentation Analysis: Identify different sub-segments within the broadcasting and media technology market for effective categorization.
– Key Player Focus: Focus on key players to define their market value, share and competitive landscape.
– Growth trend analysis: research individual growth trends and prospects in the market.
– Market Contribution: Evaluate the contributions of various segments to the overall market growth of the Broadcast and Media Technology market.
– Growth Factors: Detail key factors influencing market growth, including opportunities and drivers.
– Industry Challenges: Analyze challenges and risks impacting the Broadcast and Media Technology market.
– Competitive developments: Analyze competitive developments, such as expansions, agreements and new product launches in the market.
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This release was published on openPR.