Pune, India, April 17, 2023 (GLOBE NEWSWIRE) -- According to our latest study on "Playout Solutions Market Size Report, 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.
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Global Playout Solutions Market Growth Drivers:
• Increasing demand for high-quality content: With the rise of streaming platforms and the popularity of high-definition content, broadcasters and media companies need reliable and efficient playout solutions to deliver high-quality content to their audiences.
• Advancements in technology: The development of new technologies, such as cloud-based playout solutions and IP-based broadcasting, is driving the growth of the Playout Solutions Market. These technologies offer greater flexibility and scalability, enabling media companies to deliver content to a wider range of devices and platforms.
• Growing adoption of automation: The use of automation in playout solutions is increasing, as it can help media companies reduce costs, improve efficiency, and minimize errors. Automation also allows for the creation and delivery of content across multiple platforms and devices.
• Increasing demand for personalized content: Personalization is becoming increasingly important in the media industry, as audiences seek content that is tailored to their individual preferences. Playout solutions can help media companies deliver personalized content to their audiences, driving the growth of the Playout Solutions Market.
• Growing demand for live sports and events: Live sports and events are a major driver of the playout solutions market, as broadcasters and media companies require reliable and efficient solutions to deliver these events to their audiences in real-time.
Global Playout Solutions Market Recent Developments:
• Increased adoption of cloud-based solutions: Cloud-based playout solutions are becoming increasingly popular, as they offer greater flexibility and scalability compared to traditional hardware-based solutions. Cloud-based solutions can also help media companies reduce costs and simplify their workflows.
• Advancements in automation technology: The use of automation technology in playout solutions is increasing, with more advanced solutions available that can help media companies automate their workflows and reduce the risk of errors. Automation can also help media companies deliver content to a wider range of devices and platforms.
• Growing demand for IP-based broadcasting: IP-based broadcasting is becoming increasingly popular, as it offers greater flexibility and scalability compared to traditional broadcasting methods. IP-based solutions can help media companies deliver content to a wider range of devices and platforms, including mobile devices and smart TVs.
• Increased focus on security: As the threat of cyber attacks continues to grow, media companies are placing greater emphasis on security when choosing playout solutions. Vendors are responding by offering more secure solutions that incorporate advanced encryption and other security features.
• Greater integration with other solutions: Playout solutions are being increasingly integrated with other solutions, such as content management systems and advertising platforms. This integration can help media companies streamline their workflows and improve their overall efficiency.
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Introduction of 5G Technology to Provide Lucrative Opportunities for Playout Solutions Market Growth During Forecast Period:
Automation holds the key to a prosperous future in every industry, and the introduction of 5G technology acts as an automation propeller. The deployment of 5G networks will enhance the broadcaster's business, whose linear channels need live viewing experiences. As the demand for buffer-free video streaming and high-quality content rises, the 5G technology drives the OTT viewer experience to the next level. 5G ensures possibilities like a seamless live stream experience that does not keep buffering or lag annoyingly. 5G unlocked bandwidths of over 1 GHz giving a massive boost to both live streaming and VOD with a 10x decrease in end-to-end latency, 20X faster speed, and higher bandwidth. 5G is expected to help increase viewer engagement in linear channels, allowing for the coverage of a wider variety of live events. Broadcasters and service providers are increasingly using the capabilities of AR, VR, and AI technologies to understand user behavior and deliver customized and effective services. Such innovations are expected to add value to the consumer experience and are vital to digital ads. As digital content rendering will depend on the speed of the internet connectivity, the implementation of 5G technology will remain integral to the adoption of playout solutions for digital content broadcasting. Thus, 5G offers massive network capacity, allowing broadcasters to provide more than 100 Mbps bandwidth per user and serve more sessions at scale regarding video streaming. 5G brings dramatically faster access to network speed and the network infrastructure. 5G is expected to provide new opportunities for video and cable providers to grow their reach, thereby boosting playout solutions market growth.
Global Playout Solutions Market: Industry Overview
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.
The playout solutions market in North America is projected to witness significant market growth from 2022 to 2028. North America is one of the fastest-growing economies in the world, with a well-established IT industry that continues to attract investment and support innovation. The region has the world's most advanced Information Technology (IT) sector. Digitalization among cable operators has created opportunities to expand the regional market. Due to technological developments, old televisions with an antenna have been replaced with smart televisions. Digitalization of air TV channels has increased the number of new TV stations in different cities. Abilene/Sweetwater, Alexandria, Billings, and Binghamton are among the new channels that started in Texas, Louisiana, Montana, and New York, respectively. The rising number of such channels across different cities is likely to create enormous opportunities for the playout solutions market in North America in the coming years.
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Global Playout Solutions Market: Competitive Landscape and Key Developments
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 leading market players profiled in the playout solutions market report. Several other essential market players were analyzed for a holistic view of the market and its ecosystem. The report provides detailed market insights, which help the key players strategize their market growth. A few developments are mentioned below:
In September 2022, Amagi announced the general availability of its broadcast-grade cloud playout product, Amagi CLOUDPORT, on Google Cloud Marketplace. The partnership elevates Amagi's SaaS offerings to its customers by combining the advantages of Amagi's live and on-demand video infrastructure services with Google Cloud's solutions.
In January 2021, Evertz Technologies Limited announced an asset purchase agreement with Harman International for Studer, an audio brand, technology, and related assets provider. Evertz planned to develop next-generation products to meet future broadcast customer needs while creating synergies between its current product suite and the Studer product environment.
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