Global Media Processing Solutions Market is Expected to Reach US$ 31,586.4 Million by 2027, Growing at an Estimated CAGR of 14.62% Over the Forecast Period Mainly due to the Advancements in Broadband and Internet Services
Some of the players operating in the Media Processing Solutions Market Are Akamai Technologies, Dolby Laboratories, Inc., Encoding.com
PUNE, India, Feb. 26, 2020 /PRNewswire/ -- Media Processing Solutions market is witnessing a notable growth. People are increasingly turning to smartphones, tablets and other mobile and Internet-connected devices to watch videos. IBM's recent survey of nearly 21,000 people across 42 countries confirms that not only are consumers increasingly watching video over the Internet, but they are clearly going mobile, with people using mobile broadband where Wi-Fi is not widely available. Digital disruptors such as Netflix, Amazon, Facebook, Google and Snapchat have embraced the consumer's love for video to fundamentally change the customer video experience.
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In fact, they have reset customer expectations for the media and entertainment (M&E) industry and are now competing with traditional M&E companies for the time, advocacy and money of consumers. Most traditional M&E companies have yet to transform their business models to respond to the new customer expectations. It is time for them to recognize the imperative for Digital Reinvention. They must enthusiastically embrace the opportunities that the marketplace is currently presenting.
Assuming media organizations are successful in creating the insight to achieve the personalization that delights and engages each individual consumer, the next challenge will be scaling their media-processing "factories" to deal with the massively enhanced volume of content and workflows that this approach implies. Media companies will need to implement hyper scalable hybrid cloud systems and cognitive capabilities to manage the exploding media processing throughput necessary to personalize and deliver the targeted video content their audiences want. Emerging technologies like cognitive solutions and block chain are playing a growing role in both revenue and cost optimization. Cognitive tools are already driving significant business value for companies such as Netflix, BBC and the Masters Tournament. And Block Chain supports more effective monetization by ensuring that the right people get paid across the media ecosystem. All these factors will collectively fuel the media processing solutions market.
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Successful companies will need to disrupt their own business models, implement the cognitive and personalized paradigm, change their own bundle for distribution, reinvent their production factory, offload non-core processes and use the released capital to secure new footholds in a changing strategic landscape and an altering industry hegemony.
"Successful companies will need to disrupt their own business models, implement the cognitive and personalized paradigm, change their own bundle for distribution, reinvent their production factory, offload non-core processes and use the released capital to secure new footholds in a changing strategic landscape and an altering industry hegemony. By Region, North America is the largest market but Asia Pacific is projected to grow the highest during the forecast period"
The detailed research study provides qualitative and quantitative analysis of Global Media Processing Solutions market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further across all the major countries. The supply side analysis covers the major market players and their regional and global presence and strategies. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
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Key Findings of the Report:
- In terms of revenue, Global Media Processing Solutions market is expected to reach US$ 31,586.4 million by 2027, owing to Media Processing Solutions being a viable less expensive alternative to other solutions.
- By Offering, Services segment is expected to witness a considerable growth, as there are many number of companies which offer the necessary tools to build a media processing solutions.
- Based on Organization Size, Small and Medium Sized Enterprises segment expected to grow the fastest with a CAGR of 32.7% during the forecast period; as SMEs are focusing on improving the processing time significantly.
- By Type, On-Demand segment accounted for the largest share of 39.10% in the global Media Processing Solutions Market, as short notice, cycle times are compressed, and persistent unit cost processing efficiencies.
- Asia Pacific Media Processing Solutions market is projected to witness the highest CAGR of 15.27% over the forecast period. This is mainly due to increase in internet penetration as well as increasing popularity of online media.
- Some of the players operating in the Media Processing Solutions Market Are Akamai Technologies, Dolby Laboratories, Inc., Encoding.com, Harmonic, Inc., iStreamPlanet, M2A Media Ltd., MediaKind, Pixel Power Ltd., SeaChange International Inc., Synamedia, Vantrix Corporation, amongst others.
Global Media Processing Solutions Market:
By Offering:
- Platforms
- Services
By Organization Size:
- Large Enterprises
- Small and Medium sized Enterprises (SMEs)
By Type:
- On Demand
- Live
By Geography
- North America
- U.S.
- Canada
- Mexico
- Rest of North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Denmark
- Finland
- Iceland
- Norway
- Sweden
- Benelux Union
- Belgium
- The Netherlands
- Luxemburg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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