Playout Automation Global Market
The Business Research Company recently released a comprehensive report on the Global Playout Automation Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.
According to The Business Research Company’s, The playout automation market size has grown rapidly in recent years. It will grow from $1.08 billion in 2023 to $1.28 billion in 2024 at a compound annual growth rate (CAGR) of 18.9%. The growth in the historic period can be attributed to the rise of over-the-top (OTT) services, regulatory compliance requirements, the emergence of 24/7 broadcasting, expansion of multichannel broadcasting, and demand for cost efficiency.
The playout automation market size is expected to see rapid growth in the next few years. It will grow to $2.59 billion in 2028 at a compound annual growth rate (CAGR) of 19.2%. The growth in the forecast period can be attributed to increasing demand for broadcast content, the transition to IP-based workflows, the rising popularity of UHD (Ultra High Definition) and HDR (High Dynamic Range) content, the emergence of cloud-based playout services, and demand for multiplatform content distribution. Major trends in the forecast period include advanced graphics and branding, integration of AI and ML, compliance and monitoring tools, and security and content protection.
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Market Drivers and Trends:
The expansion of the broadcasting industry is expected to propel the growth of the playout automation market going forward. The broadcasting industry encompasses the production, distribution, and transmission of audiovisual content, including television and radio programs, to mass audiences via various platforms and technologies. The broadcasting industry is rising due to increasing demand for diverse content consumption options and the proliferation of digital platforms. Playout automation improves broadcasting operations by efficiently scheduling and managing the playout of audiovisual content across multiple channels, enhancing workflow efficiency, and ensuring continuous on-air operation. For instance, in November 2023, according to the Canadian Radio-television and Telecommunications Commission (CRTC), a Canada-based government agency, broadcasting revenues experienced a 1.2% increase from the 2021 to the 2022 broadcast year. Revenue from the Digital Media Broadcasting Unit (DMBU) increased to $5.46 billion in 2022, reflecting a growth of approximately 11.2% compared to $4.91 billion in 2021. Similarly, discretionary TV revenue rose to $4.09 billion in 2022, marking an increase of approximately 3.3% from $3.96 billion in 2021. Therefore, the expansion of the broadcasting industry is driving the growth of the playout automation market.
Major companies operating in the playout automation market are increasing their focus on developing new technological solutions, such as cloud playout solutions, to gain a competitive edge in the market. Cloud playout solutions are software-based systems that allow broadcasters and media organizations to manage and automate the playout of audiovisual content using cloud infrastructure. For instance, in March 2024, Brightcove, a US-based software company, launched Cloud Playout 2.0, a playout automation solution that allows organizations to curate linear channel experiences. This new version simplifies the management of linear channels and offers a centralized platform for creating, distributing, and monetizing them. It enables organizations to schedule and deliver channels to owned-and-operated websites and apps, as well as FAST platforms, diversify monetization options, engage audiences, and manage ad pod placement and duration to maximize revenue. This advanced solution streamlines workflows, enabling users to easily manage content, schedule programming, and distribute channels efficiently within a centralized platform.
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Major Key Players of the Market:
iHeartMedia Inc., Grass Valley USA LLC, Harmonic Inc., Ross Video Ltd, Evertz Microsystems Ltd., Imagine Communications, Dalet SA, NVerzion Inc., Amagi Corp., VSN (Video Stream Networks), Aveco, PlayBox Technology, Crispin Corporation, ENCO Systems Inc., Etere Pte Ltd, Axel Technology SRL, Pebble Beach Systems, BroadStream Solutions, Avmeda LLC, Cinegy LLC, Pixel Power Ltd., HARDATA Inc., Florical Systems, 305broadcast
Playout Automation Market 2024 Key Insights:
• The playout automation market size is expected to see rapid growth in the next few years. It will grow to $2.59 billion in 2028 at a compound annual growth rate (CAGR) of 19.2%.
• Broadcasting Industry Expansion Fuels Growth In The Playout Automation Market
• The Evolution Of Cloud Playout Solutions Drives Competition In The Playout Automation Market
• North America was the largest region in the playout automation market in 2023
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