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 2022 to 2028.
Rise in Cloud-Based Playout Solutions Fuels Playout Solutions Market Growth
In the internet and over-the-top (OTT) delivery era, traditional in-house hardware and customized software solutions are expensive. Shift to OTT involves migrating from the traditional broadcasting model to digital distribution platforms. In the competitive broadcasting industry, the cloud is expected to play a pivotal role in offering content-rich services on multiple platforms. Advancements in technology and shift in consumer behavior are revolutionizing streaming services. The demand for scalability and agility is triggering the adoption of cloud playout solutions in the broadcasting industry. The increasing demand for video or interactive viewing has led to the approval of cloud-based solutions. For instance, CLOUDPORT, offered by Amagi, is an award-winning cloud-based playout platform that can be used to deliver channels across satellite, fiber, and IP.
Cloud-based playout solutions allow new broadcast operations to be activated without configuring existing hardware. Factors such as rising prices for content rights, increasing competition from agile entrants, and growing need for reduction in up-front technology investments are paving the way for cloud-based playout solutions. Media and entertainment is a large and diverse sector, which includes video and audio content distribution, publishing, film, music, gaming, and social media. BBC, Discovery, and ITV are among the first adopters of cloud solutions, and many other media houses are adopting cloud-based playouts at a rapid pace. As the need for cloud-based playout solutions in the broadcast industry for low cost and high scalability increases, the demand for market players who provide cost-effective and efficient streaming is rising, driving the playout solutions market growth.
During the pandemic, many countries adopted lockdown measures, due to which streaming consumption skyrocketed. In March 2020, millions of people moved to the internet for entertainment and more, due to which internet hits surged by 50–70%, according to preliminary statistics. According to an article by Forbes, streaming also jumped by at least 12%. Further, online streaming services provided by brands such as Netflix and Disney+ have seen 12% growth. According to IntoTheMinds, Netflix saw the number of subscriptions soar by 22.8% in the first quarter of 2020. All such factors boosted the playout solutions market growth during the pandemic.
Key Findings of Study:
The playout solutions market is segmented based on component, application, and geography. Based on component, the playout solutions market is segmented 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.
Based on component, the playout solutions market is categorized into hardware, software, and services. In 2022, the software segment dominated the playout solutions market. A playout software automates both live and on-demand content, media asset management, scheduling, encoding, and cross-platform delivery in the playout solutions market. The playout software solutions are versatile and flexible, which makes them compatible with any major file format. Through software playout, the broadcasters ensure high-quality content streaming across various devices, such as TV, and mobile phones. Playout software also provides Quad 3G SDI or UHD 12G output, along with SD and HD output; further, they can provide IP output while ensuring conventional production. As the business environment worldwide becomes more complicated and challenging, broadcasters are continuously adopting flexible technology to adapt to these changes. Cloud-based playout software is a promising solution to achieve this flexibility and scalability. It allows broadcasters to launch new channels and deliver traditional and OTT content more efficiently without much investment. All these factors are contributing to the growth of the software segment in the playout solution market.
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