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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