PUBLISHER: The Business Research Company | PRODUCT CODE: 1465683
PUBLISHER: The Business Research Company | PRODUCT CODE: 1465683
Broadcast automation software is a suite of tools meticulously crafted to streamline broadcasting operations across diverse platforms and databases. It optimizes workflows, augments flexibility, and ensures seamless integration with IT environments and video server solutions. By reducing manual intervention and enhancing efficiency, it elevates the overall broadcasting experience for both broadcasters and viewers alike.
The primary classifications of broadcast automation software products include web-based and hybrid solutions. Web-based software facilitates radio broadcasters in uploading and storing pre-recorded content on computer hard disks or cloud-based platforms, enabling direct broadcasting from the designated computer. These solutions encompass software and services tailored for various applications, including entertainment, healthcare, education, government, and others.
The broadcast automation software market research report is one of a series of new reports from The Business Research Company that provides broadcast automation software market statistics, including broadcast automation software industry global market size, regional shares, competitors with a broadcast automation software market share, detailed broadcast automation software market segments, market trends and opportunities, and any further data you may need to thrive in the broadcast automation software industry. This broadcast automation software market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The broadcast automation software market size has grown exponentially in recent years. It will grow from $1.74 billion in 2023 to $2.13 billion in 2024 at a compound annual growth rate (CAGR) of 22.1%. The growth observed during the historic period can be attributed to several factors, including the growing complexity in broadcast media planning, increased adoption of cloud-based solutions, rising demand for smart devices, heightened need for operational efficiency and cost reduction, as well as an increasing demand for personalized content and audience engagement.
The broadcast automation software market size is expected to see rapid growth in the next few years. It will grow to $4.38 billion in 2028 at a compound annual growth rate (CAGR) of 19.8%. The projected growth in the forecast period can be attributed to several factors, including the rising popularity of multimedia streaming applications, increasing demand for seamless broadcasting in single channel environments, growing need for automation in broadcasting and entertainment industries, rising demand for high-quality content, and increasing investments in broadcasting infrastructure. Key trends expected during this period include advancements in technology, the widespread adoption of cloud-based solutions in broadcasting, integration of artificial intelligence (AI) and machine learning technologies, the emergence of personalized and interactive content experiences, and a shift towards IP-based and remote production workflows.
The surging popularity of multimedia streaming applications is poised to drive the expansion of the broadcast automation software market in the foreseeable future. Multimedia streaming entails the delivery of compressed video or audio content over the Internet, enabling immediate playback without the need for downloading. This growth is fueled by various factors, including widespread smartphone, tablet, and smart TV adoption, robust high-speed internet availability, and escalating demand for on-demand content. Broadcast automation software emerges as a vital component in simplifying content management for media streaming platforms, facilitating tasks such as content ingestion, transcoding, and delivery across diverse devices and networks. Moreover, broadcast automation software ensures seamless multimedia content transmission by automating precise broadcast media planning tasks. Recent data from Netflix Inc. underscores this trend, with paying subscribers reaching 231 million by the first quarter of 2023, up from 223 million in the fourth quarter of 2022, highlighting the pivotal role of multimedia streaming applications in propelling the growth of the broadcast automation software market.
Key players in the broadcast automation software market are prioritizing advanced technological solutions, such as radio automation software, to enhance broadcasting efficiency and effectiveness. Radio automation software represents a transformative tool in the radio broadcasting sector, automating essential tasks necessary for radio station operations. For example, in March 2023, Aiir, a US-based IT service management company catering to broadcast radio stations, introduced PlayoutONE version 5, a radio automation software geared towards enhancing speed, efficiency, and user productivity. This latest iteration features notable improvements to WebVT, enabling broadcasters to conduct broadcasts from any location using only a web browser. The update enhances the broadcasting experience by reducing latency and enhancing audio quality. PlayoutONE V5, offered as a complimentary update for existing customers, caters to broadcasters worldwide, catering to individual broadcasters and broadcast stations alike, underlining the commitment to advancing broadcasting technology for global audiences.
In November 2023, Symphony Technology Group, a US-based private equity firm specializing in data, software, and analytics, successfully acquired Avid Technology Inc. for $1.4 billion. This strategic acquisition positions Avid to attain the necessary speed of innovation, scale, and performance to sustain its leadership in the industry, with a profound focus on innovation and delivering customer value. Additionally, the acquisition aims to expedite Avid's growth in the broadcast automation software market. Avid Technology Inc., headquartered in the US, is a technology multimedia company offering a comprehensive media workflow management solution, including broadcast automation functionalities.
Major companies operating in the broadcast automation software market are Belden Incorporated, Harmonic Inc., Grass Valley, Avid Technology, Evertz Microsystems, Ross Video, Amagi Corporation, Imagine Communications, Visualization in Real-Time (Vizrt), Snell Limited, Dayang Technology Development Inc., Dalet Digital Media Systems, Bitcentral Inc., Video Stream Networks (VSN), Automated Video Editing (Aveco), Pebble Beach Systems, BroadStream Solutions, ENCO Systems Inc., Cinegy GmbH, Pixel Power Ltd., Florical Systems, PlayBox Technology, OASYS Automated Playout, Orad Hi-Tec Systems
North America was the largest region in the broadcast automation software market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the broadcast automation software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the broadcast automation software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The broadcast automation software market includes revenues earned by entities by providing services such as content management, playout automation, live event management, monitoring and control, and multi-channel management. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Broadcast Automation Software Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on broadcast automation software market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for broadcast automation software ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The broadcast automation software market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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The continued but declining impact of COVID-19 on supply chains and consumption patterns.