Growing popularity of 4K UHD content, increasing demand for the creation, distribution and conversion of video content, increasing shift from traditional to digital advertising channels, rapid advances in areas such as workflow collaboration, artistic creativity and new distribution models in the media and entertainment industries and the rising Media and entertainment storage demand due to COVID-19 pandemic is driving growth in global media and entertainment storage market.
Portland, OR, June 23, 2021 (GLOBE NEWSWIRE) – According to the report released by Allied Market Research, the global Media and entertainment storage market was set at $ 6.63 billion in 2019 and is valued at $ 17.87 billion by 2027, recording a CAGR of 13.7 percent from 2020 to 2027. The report offers an in-depth analysis of the top investment pockets, top winning strategies, drivers, and opportunities. Market size and estimates, the competitive landscape, and changing market trends.
Growing popularity of 4K UHD content, increasing demand for the creation, distribution and conversion of video content, increasing shift from traditional to digital advertising channels, rapid advances in areas such as workflow collaboration, artistic creativity and new distribution models in the media and entertainment industries and the rising Media and entertainment storage demand due to COVID-19 pandemic is driving growth in global media and entertainment storage market. On the other hand, the high cost of media and entertainment storage solutions is somewhat inhibiting growth. However, it is expected that the increasing demand for storage requirements will open up several possibilities in the near future.
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The worldwide broadcast adapts to the interruptions in the entire content supply chain.
On the other hand, however, the majority of the population worldwide are arrested in their homes in order to comply with the quarantine orders. This, in turn, has led to a sharp increase in the demand for streaming services and DVR recording, which has a positive impact on the global media and entertainment storage market. This drift is likely to continue after the pandemic.
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The global media and entertainment storage market is analyzed by component, storage solution, deployment type, storage medium, end user and region. By components, the solutions segment contributed more than three-fifths of the global media and entertainment storage market share in 2019 and is expected to be the leader by 2027. The service segment, on the other hand, would have the fastest CAGR of 15.5% in the forecast period.
Based on storage solutions, the direct-attach storage segment generated more than two-fifths of global media and entertainment storage market sales in 2019 and is expected to remain dominant through the end of 2027. Network-attached storage segment would have fastest CAGR of 16.9% recorded throughout the forecast period.
In terms of the region, North America had the highest share in 2019 and generated around two-fifths of the global market for media and entertainment storage. At the same time, the Asia Pacific market would report the fastest CAGR of 18.4% from 2020 to 2027. The other provinces discussed in the report include Europe and LAMEA.
Leading market players analyzed in the global Media and Entertainment Storage Market report include Cisco Systems, Western Digital, Dell EMC, IBM, Microsoft, NetApp, Oracle, Seagate Technology, Toshiba, and Amazon Web Services. These market participants have pursued various strategies including partnership, expansion, collaboration, joint ventures, and others to strengthen their status in the industry.
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