Media Function Virtualization: Introduction
- Media function virtualization is used by the media and entertainment sector to improve operational efficiency of broadcasters and content distributors. Media function virtualization has modernized the broadcast distribution infrastructure and eliminated the need of function-specific hardware.
- Media function virtualization platform offers numerous functionalities to broadcasters such as processing, transmission, media network monitoring, and signal processing. Media function virtualization software uses open source platforms for uninterrupted delivery of software. The platform enables video transcoding and content calibration to be hosted as edge computing services, which simplifies traffic management and network bandwidth.
- The global media function virtualization market is projected to grow at a rapid pace during the forecast period due to increase in adoption of media function virtualization by the media and entertainment sector.
Global Media Function Virtualization Market: Dynamics
Global Media Function Virtualization Market: Key Drivers and Restraints
- Increase in need to address high bandwidth entertainment services such as video on demand and live streaming is anticipated to boost the global media function virtualization market during the forecast period. This is primarily because media function virtualization ensures low latency in the delivery and production of live content such as news & sports and maximizes IP networks.
- Rise in demand for transformation of broadcast and need to migrate broadcast equipment to software and IP-based models are the major factors expected to propel the global media function virtualization market in the next few years
- Growing trend of digitalization of broadcast equipment such as transformation of media in real-time transport and processing equipment hardware to software is likely to augment the global media function virtualization market during the forecast period.
- Increase in demand for cost-effective operations and need to quickly broadcast content in real-time among end-users are projected to boost the global media function virtualization market in the next few years.
- Rise in the OTT platform has brought about various changes in the TV industry. TV providers are facing various challenges to stay ahead of the competition. Hence, increase in need of the TV industry to transform business model from content creation to distribution has driven the demand for media function virtualization, which is anticipated to fuel the growth of the global market during the forecast period.
- Moreover, advent of digital technologies such as cloud computing, Internet of Things (IoT), and artificial intelligence (AI) is expected to boost the demand for media function virtualization across the globe during the forecast period
- However, lack of awareness and privacy concerns are likely to hamper the global media function virtualization market during the forecast period.
Impact of COVID-19 on Global Media Function Virtualization Market
- Increase in cases of COVID-19 across the globe has led to economic slowdown. Developed countries have been significantly affected by the pandemic. Content creation or production in the media & entertainment sector has been suspended globally. Shooting has been adversely impacted in most countries due to partial or full lockdown. This, in turn, is projected to restrain the global media function virtualization market during the COVID-19 pandemic.
- However, media function virtualization helps media and entertainment companies to transform their business model from content creation to distribution. It enables media transport and processing by software rather than hardware. This is anticipated to boost the global market during the forecast period.
North America to Hold Major Share of Global Media Function Virtualization Market
- In terms of region, the global media function virtualization market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America
- North America dominated the global media function virtualization market in 2019 due to the presence of large number of players and adoption of media function virtualization in the region
- The media function virtualization market in Asia Pacific is projected to grow at a rapid pace during the forecast period. This can be attributed to increase in adoption of OTT platforms and digitalization of media and entertainment sector in countries such as India, China, and Japan.
Global Media Function Virtualization Market: Competition Landscape
A number of local, regional, and international players are active in the media function virtualization market. Rapid technological advancements have presented significant opportunities in the market. Vendors of media function virtualization focus on an inorganic growth strategy such as strategic collaborations and merger & acquisition with technology partners to develop innovative and advanced solutions to enhance offerings and market reach. For instance, in March 2020, Net Insight AB acquired Live IP media virtualization platform and software product portfolio from Aperi, a provider of virtualized media production.
Key Players Operating in the Global Media Function Virtualization Market Include:
- Atos SE
- Infosys Limited
- Net Insight AB
- Nevion AS
- Red Hat, Inc.
Global Media Function Virtualization Market: Research Scope
Global Media Function Virtualization Market, by Component
- Software/ Platform
Global Media Function Virtualization Market, by Deployment
Global Media Function Virtualization Market, by Enterprise Size
- Large Enterprises
Global Media Function Virtualization Market, by End-user
- Studios & Creators
Global Media Function Virtualization Market, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
- Media Virtualization Software
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.