Harnessing AI’s Transformative Power: Impact on the Broadcast and Media Technology Market

Overview and Scope:
The broadcast and media technology 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 examples of broadcast and media technology.

Sizing and Forecast:
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  growth in the historic period can be attributed to immersive media and virtual reality, digital transformation, internet revolution, content on-demand, mobile and portable devices..

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%.  The growth in the forecast period can be attributed to remote production and collaboration tools, regulatory changes and standards, hybrid broadcast-broadband services, cloud-based solutions, rise of ai and machine learning,content monetization and advertising.. Major trends in the forecast period include streaming dominance, live content and interactivity, personalization and ai,immersive experiences, remote workflows..

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Segmentation & Regional Insights:
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

North America was the largest region in the broadcast and media technology market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the broadcast and media technology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth:
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.

Key Industry Players:
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.

The broadcast and media technology market report table of contents includes:
1. Executive Summary

2. Market Characteristics

3. Market Trends And Strategies

4. Impact Of COVID-19

5. Market Size And Growth

6. Segmentation

7. Regional And Country Analysis

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27. Competitive Landscape And Company Profiles

28. Key Mergers And Acquisitions

29. Future Outlook and Potential Analysis

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