Playout Solutions Market is expected to reach US$ 1,892.26 million by 2028

Increase in Demand for Personalized Broadcasting Services Boosts Playout Solutions Market Growth

According to our latest study on “Playout Solutions Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Component and Application,” the market is projected to grow from US$ 1,169.02 million in 2022 to US$ 1,892.26 million by 2028; it is estimated to record a CAGR of 8.7% from 2023 to 2028.

The broadcasting industry is undergoing revolutionary technological innovations to provide a better user experience. Emerging technologies and innovative workflows such as playout are transforming live news and sports production. The transition is mainly driven by standalone streaming services, linear over-the-top (OTT) providers, and companies such as Amazon and Twitter bidding for streaming rights. In the US, the increasing shift toward digital video platforms, along with increasing bidding from Amazon for streaming rights, is changing the streaming landscape in the country. For instance, Amazon obtained broadcasting rights to European Soccer Champions League matches in Germany, strengthening its sports content portfolio. The demand for enriched video experiences is expected to pave the way for broadcasters worldwide, especially in Asia. Broadband proliferation is increasing across Asia Pacific owing to on-demand consumer viewing. Moreover, subscription-based over-the-top (OTT) platforms such as Netflix are gaining traction in Asia. India ranks second in the ownership of smartphones, making it one of the largest markets for personalized broadcast services. Increasing access to data in rural areas has dramatically uplifted the streaming video market. For instance, Hotstar, India’s homegrown streaming platform, leads the country’s OTT space. In addition, SonyLIV and JioTV, among others, are known to be popular live-streaming services. Moreover, the number of OTT providers is increasing, and they are battling for streaming rights for various sports, including cricket and hockey. As the demand for personalized services increases, broadcasters seek playout solutions to distribute high-quality content in a flexible and scalable way. Hence, the increasing demand for personalized broadcasting services drives the playout solutions market.

Playout Solutions Market – by Region

The playout solutions market is segmented based on component, application, and geography. Based on component, the playout solutions market is categorized into hardware, software, and services.  Based on application, the playout solutions market is segmented into sports, news, entertainment, lifestyle and fashion, and others. By geography, the playout solutions market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South America.

Impact of COVID-19 Pandemic on Playout Solutions Market Growth

The COVID-19 outbreak dramatically impacted the global economy during its peak in 2020 in its initial days, hampering business activities in various industries and forcing them to change the way they work overnight. As lockdowns prevailed in most countries, industries temporarily halted their operations. The pandemic caused unprecedented changes for consumers, businesses, and communities on a global scale. Due to the lockdown measures, consumers from various countries had to stay home, increasing free time and media and TV intake. Also, consumers drastically shifted their consumption preferences during the pandemic and viewed digital entertainment products more as necessities as they spent more time at home. The COVID-19 pandemic forced consumers to embrace new interactions and technologies that minimized human contact and improved efficiency, which was possible through the cloud playout solution in the broadcast TV industry. During the pandemic, the adoption of cloud-based playout solutions among broadcasters has grown tremendously, driving the playout solutions market. Thus, the COVID-19 outbreak positively influenced the playout solutions market.

Amagi, Evertz, BroadStream Solutions, Harmonic Inc, Belden Incorporated (Grass Valley), Imagine Communications, Pebble Beach Systems, Pixel Power, Playbox Technology, and Florical Systems are among the key market players operating in the playout solutions market.

Contact Us
 
Phone: +1-646-491-9876
Email Id: sales@theinsightpartners.com