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IN THE NEWSAugust 2021- Chyron released version 4.1 of its PRIME Live platform which offers robust, broadcast quality production capabilities. The platform is deployable on-premise, in cloud, and as a hybrid integration.
February 2021- MBC Group chose WHATS’ON, the broadcasting management system by MEDIAGENIX to replace their current BMS and manage all their on-demand services in a linear manner.
The global broadcast automation software market is estimated to garner a large amount of revenue and grow at a robust CAGR over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed to the growing demand for seamless broadcasting in single channel environments, and rising popularity of multimedia streaming applications across the globe. Apart from these, planning broadcast media is a complex and tedious task that needs to be performed with high precision. This in turn is expected to augment the sales of broadcast automation software in the upcoming years in view of its ease to provide reasonable accurate timekeeping. Furthermore, increasing adoption of smart devices, coupled with upsurge in implementation of cloud-based solutions are projected to offer ample growth opportunities to the market in the near future. As of 2021, the total number of smartphone users in the world are more than 6 billion, i.e., almost 80 percent of the global population. In addition, the total number of people who own a smart and feature phone is about 7 billion.
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The market is segmented by application into entertainment, education, healthcare, government, and others, out of which, the entertainment segment is anticipated to hold the largest share in the global broadcast automation software market. This can be accounted to the large population still preferring to watch news and sports events on smart or traditional televisions, and growing demand for global and national entertainment content from all age groups. Additionally, on the basis of product, the hybrid segment is evaluated to observe the highest growth during the forecast period, which can be credited to the shifting preference of consumers to online and streaming media platforms, and increase in penetration of smartphones, smart TVs and other connected devices worldwide. Along with these, high flexibility, cost efficiency and real time access to broadcasting content offered by hybrid deployment are also predicted to boost segment growth in the future.
The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in ICT sector has significantly contributed towards GDP growth, labor productivity, and R&D spending among other transformations of economies in different nations of the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to the economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.
On the basis of geographical analysis, the global broadcast automation software market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in Asia Pacific is estimated to witness noteworthy growth over the forecast period on the back of the growing adoption of advanced technologies, and presence of large number of TV households in the region, especially in India and China. In the financial year 2018, more than 185 million households in India owned a TV set, which increased up to about 194 million and 200 million in FY 2019 and FY 2020 respectively.
In addition, the rising demand for on-demand content services is also assessed to propel APAC’s market growth in the coming years. Moreover, the market in North America is projected to occupy the largest share during the forecast period ascribing to the high usage of sophisticated broadcasting technologies, and strong presence of prominent market players in the region.
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The global broadcast automation software market is further classified on the basis of region as follows:
Our in-depth analysis of the global broadcast automation software market includes the following segments:
FREQUENTLY ASKED QUESTIONS
The major factors driving market growth are growing demand for seamless broadcasting in single channel environments, and rising popularity of multimedia streaming applications.
The market is anticipated to attain a robust CAGR over the forecast period, i.e., 2022 – 2030.
Connectivity issues associated with broadcast automation software are estimated to hamper the market growth.
Asia Pacific will provide more business opportunities for market growth owing to the growing adoption of advanced technologies, and presence of large number of TV households in the region, especially in India and China.
The major players in the market are Chetu Inc., Advanced Broadcast Services Limited, AMC Networks Inc., Axel Technology Srl, The Chyron Corporation, and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by product, solution, application, and by region.
The entertainment segment is anticipated to hold largest market size and is estimated to grow at a notable CAGR over the forecast period and display significant growth opportunities.
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