Customer outreach is important to enhance market scope, finds Frost & Sullivan's Digital Media team
SANTA CLARA, California, Feb. 22, 2017 /PRNewswire/ -- The demand for cost-competitive smart storage solutions is surging in media and entertainment (M&E). Data explosion due to digitized publishing, advertising, gaming and online video is intensifying storage needs. Post-production accounts for approximately 10.6 percent of the total storage market and will experience increasing investment until 2022, due to the adoption of low-priced, flexible hybrid, cloud and flash storage solutions.
New Frost & Sullivan analysis, Global Media and Entertainment Storage Market, Forecast to 2022, finds that optimized tables, smart phones, gaming consoles (Xbox, Playstation, Oculus Rift, etc.), IP-enabled set-top boxes, and IP-enabled television can share data more easily. Furthermore, constant technological advancement will compel collaboration between professional video content creators, photographers and designers, steering the M&E storage market to reach projected revenues of $7,875.4 million by 2022.
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North America and Latin America continue to lead the M&E storage market, with companies focusing on acquisition and partnership. Despite the current geo-political situation in Europe and the Middle East, signs of development and expansion remain. Markets in Japan and China also are gathering pace.
"The market has been growing and maturing, with video content developers now moving beyond 4K and 8K toward 12K resolutions," said Frost & Sullivan Digital Media Research Analyst Elvia Valdes. "Adaptive technologies such as cloud, flash, and hybrid, are overtaking conventional storage solutions, including network-attached storage (NAS), direct-attached storage (DAS), and storage-area network (SAN)."
Storage companies should implement big data analytics to increase their outreach and become one-stop solution providers. Informing customers of the innovative formats and allied benefits will convince them to invest.
"Increasingly, companies within the M&E market are moving toward a unified or clustered smart storage architecture. Many of them are turning into a combination of NAS and SAN storage, while other companies are opting to work with hybrid storage," observed Valdes. "Technologies such as visualization continue to provide a huge traction as well."
Global Media and Entertainment Storage Market, Forecast to 2022 is part of Frost & Sullivan's Digital Media Growth Partnership Service program.
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Global Media and Entertainment Storage Market, Forecast to 2022
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