LONDON–(BUSINESS WIRE)–The global media and entertainment storage market is expected to grow by USD 5.85 billion during 2020-2024, according to Technavio. According to the report, the market has been negatively impacted due to the spread of the pandemic. The imposition of total lockdown by governments worldwide has resulted in the slowdown in business activities of various end-users, such as broadcasters and television networks. However, with things getting back to normal, the market is expected to gain traction and have a steady growth over the forecast period.
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The media and entertainment storage market is driven by the rising use of digital advertising channels. In addition, other factors such as the rise in popularity of 4K UHD content are expected to trigger the media and entertainment storage market toward witnessing a CAGR of over 8% during the forecast period.
The media and entertainment storage market demand will increase during the forecast period owing to the widespread growth of the COVID-19 pandemic. Also, as per Technavio’s pandemic-focused market research, market growth is likely to increase in 2020 as compared to 2019.
With the continuing spread of the novel coronavirus pandemic, organizations across the globe are gradually flattening their recessionary curve by leveraging technology. Many businesses will go through response, recovery and renew phases. Building business resilience and enabling agility will aid organizations to move forward in their journey out of the COVID-19 crisis towards the Next Normal.
This post-pandemic business planning research will aid clients to:
- Adjust their strategic planning to move ahead once business stability kicks in.
- Build Resilience by making effective resource and investment choices for individual business units, products and service lines.
- Conceptualize scenario-based planning to mitigate future crisis situations.
View our Market Snapshot to identify key growth regions and top-performing segments
Key Considerations for Market Forecast:
- Impact of lockdowns, supply chain disruptions, demand destruction, and change in customer behavior
- Optimistic, probable, and pessimistic scenarios for all markets as the impact of pandemic unfolds
- Pre- as well as post-COVID-19 market estimates
- Quarterly impact analysis and updates on market estimates
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Major Three Media And Entertainment Storage Market Participants:
Amazon.com Inc.
Amazon.com Inc. operates its business across segments such as North America, International, and Amazon Web Services. The company offers a broad set of global compute, storage, analytics, application, database, and deployment services. These services help organizations to move faster, lower costs, and scale applications.
Cisco Systems Inc.
Cisco Systems Inc. operates its business through segments such as Product and Service. The company offers UCS storage series which is widely adopted across multiple industries. For media and entertainment, the UCS solution is a more cost-efficient way to store and access with scalable infrastructure.
Dell Technologies Inc.
Dell Technologies Inc. operates its business through segments such as Infrastructure Solutions Group, Client Solutions Group, and VMware. The company offers Dell EMC PowerScale network-attached storage (NAS) which is ideal for 4K uncompressed digital media content creation and high-performance compositing, rendering and VFX.
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Media And Entertainment Storage Market 2020-2024: Segmentation
Media and entertainment storage market is segmented as below:
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End-user
- Broadcast
- Production And Post-production
- Media Agencies
- Advertising
- Others
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Geography
- North America
- Europe
- APAC
- South America
- MEA
-
Solution
- Network-attached Storage
- Storage Area Network
- Direct-attached Storage
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Market Drivers
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Vendor Landscape
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