Global Broadcast Automation Software Market Highlights 2022 – 2030
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.
Major Macro-Economic Indicators Impacting the Market Growth
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.
Global Broadcast Automation Software Market Regional Synopsis
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:
- North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook
Market Segmentation
Our in-depth analysis of the global broadcast automation software market includes the following segments:
By Product
- Web-Based
- Cloud-Based
- Hybrid
By Solution
- Software
- Service
By Application
- Entertainment
- Education
- Healthcare
- Government
- Others
Growth Drivers
- Growing Demand for Seamless Broadcasting in Single Channel Environments
- Rising Popularity of Multimedia Streaming Applications
Challenges
- Connectivity Issues Associated with Broadcast Automation Software
Top Featured Companies Dominating the Market
- Chetu Inc.
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Advanced Broadcast Services Limited
- AMC Networks Inc.
- Axel Technology Srl
- The Chyron Corporation
- IABM
- Imagine Communications Corp.
- Schedule it Ltd.
- MEDIAGENIX NV
- WideOrbit Inc.
