Media Production Software Market Projected to Register an Impressive Growth Through 2027
Rapidly growing demand for media production software
across various end use industries is to drive the growth of the global
production software market.
According to TechSci Research report on, “Media Production Software Market
- Global Industry Size, Share, Trends, Opportunity,
and Forecast, 2017-2027”,
the
global media production software market is anticipated to witness robust
CAGR over the forecast period 2023-2027 due to its increasing demand in the
rapidly growing gaming industry. Media production software is increasingly
being employed in designing high-definition games. Moreover, rising demand for
media production software in expanding film industry to manage all aspects of
production including scheduling, call sheets, budgeting, etc. is also adding to
the market growth. The software help filmmakers to create a significant digital
impact on the movie and deliver high-quality content to the audiences. Even
making commercials with media production software has become a lot simpler and
achieving a final ad or film can be done in a very short span of time. Several
companies are extensively investing in developing a high-quality advertisement
to market their products over social media and television channels in order to
expand and attract a larger consumer base. They are also wide utilizing media
production software in designing their websites and are incorporating
high-definition images and short videos in the websites to make them
interesting and engaging. Apart from this, the rising adoption of media
production software by virtual education platforms to make interactive
educational content for better understanding of the topic is expected to drive
the market growth. Thus, the increasing usage of media production software in
advertising, ICT, education and several other infotainment, and entertainment
sectors is anticipated to propel the growth of the global media production
software market in the coming years.
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The
global media production software market is segmented by broadcast channel,
product type, enterprise type, operating system, competitive landscape, and
regional distribution.
Based
on the broadcast channel, the market is divided into radio waves, cable,
satellite, and others. Among these, the satellite segment is expected to hold a
significant market share in the coming years. This is primarily because
satellite provides better picture quality as signals are directly transmitted to
the user’s home. Therefore, satellite media has better quality when compared to
cable and radio waves. Moreover, satellite offers more channels and choice
options whereas the choice of cable is limited. Along with this, the satellite
option is more economical when compared to radio waves and cable. As a result,
the satellite segment is anticipated to hold a prominent market share of the
global media production software market.
By
product type, the market is segmented into films, commercials, audio/video
messages, and others. Among these, the film segment is anticipated to hold a
considerable market share over the forecast years. This is primarily because
media production software allows film producers to produce high-definition
films. The media production software is extensively utilized in the film post-production
field to add special visualizations to the film to create a lasting impression
on the audiences. Before the introduction of media production software, this
was a painstaking procedure for filmmakers. Apart from this, the commercial
segment is also anticipated to grow at a rapid pace in the coming years due to
the growing investments of the companies in marketing their products on various
media platforms.
Based
on the enterprise type, the market is divided between SME and large. The large
enterprise segment is anticipated to hold a prominent market share in the
coming years. Compared to SMEs, large enterprises have the capability to
allocate more funds in the development of commercials to market their product
via social media and television channels. Hence, the demand for media
production software is more from large enterprises than SMEs.
By operating system, the market is fragmented
between iOS and Android. Among these, the Android segment is projected to have
a significant market share in the coming years. This is primarily because the Android
operating system is more economical and customizable, whereas iOS is relatively
expensive and less customizable. Moreover, the battery life of the Android
operating system hardware is more than the iOS systems. However, the market
share of iOS operating system is anticipated to grow at a fast pace in the
coming years, owing to its improved battery life in the new variants. Moreover,
iOS is known to offer more security and protection from malware and viruses, which
is expected to contribute to the market growth.
A
list of major market players of the global media production software market includes:
- Acquia Software Company
- Apple Inc.
- Brightcove Inc.
- CSG International Corporation
- DNN Platform
- Ephox Corporation
- Fiksu Company
- Google LLC
- IBM Corporation
- Oracle Corporation
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“The
proliferating number of online businesses and social media influencers are
increasingly adopting audio and video editing software solutions in order to
produce high-quality and interactive content, which is leading to high adoption
of media production software. Moreover, major market players are taking
significant initiatives to improve their software and provide an updated version
to the users. For instance, Adobe Systems Inc., a global leader in digital
media software products is promoting its Adobe Premiere Element software, which
is gaining immense traction due to its all-in-one video solution for editors.
Besides, the surging entertainment industry and the high demand for quality
audio products are providing lucrative growth opportunities to the existing and
new market players.,” said Mr. Karan Chechi, Research Director, TechSci
Research, a research based global management consulting firm.
“Media production software Market –
Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027, Segmented By Broadcast Channel
(Radio Wave, Cable, Satellite, Wireless, Internet), By Product Type (Films,
Commercials, Audio/Video Messages, Others), By Enterprise Type (SME, Large), By
Operating System (iOS & Android) and By Region” has evaluated
the future growth potential of global media production software market and
provides statistics & information on market size, structure, and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in global media production software market.
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