Time and intent – universal constants that have the propensity to heal, and damage irretrievably. This is particularly true in the case of the media and entertainment industry, wherein less than favorable storage mediums can encourage the damage of original content and render them unfit or undesirable for popular consumption. Thankfully, an entire industry is dedicated to ensuring that this isn’t the case, and per the market analysts at Technavio, this market for global media and entertainment storage is set for profitable growth through 2017-2021.
With names such as Amazon Web Services, Dell EMC, IBM, Microsoft and Toshiba, featuring as active players in the global media and entertainment storage market, the playing field is very competitive and posts some serious challenge to fresh entrants. However, innovation and the provision of satisfactory long-term solutions are the key requirements here, thus, this market is known for its dynamism.
What factors will drive the media storage market in the near future?
As a vendor, take a step back and look at the bigger picture. What are your primary concerns pertaining to the global market in general and your exclusive listing of products and services in particular? As per the comprehensive market research report from Technavio, the following factors are the key drivers that will shape this market through the next five years.
Growing shift from traditional to digital advertising channels- The key here is the move onto digital media storage as that allows the posts and advertisements to be viewed without any locational constraints. Simplifying the user experience pays rich dividends.
Rise in the popularity of 4K UHD content- Enhanced video quality is preferred over sketchy solutions. And, as any marketer will tell you, the target audience always prefers the best available option. Innovative solutions such as 4K Ultra High Definition (UHD) content has helped companies like Netflix establish themselves firmly atop the media storage food chain.
Increase in the demand for live video streaming solutions- While your potential customers are leading busy lives, they prefer their entertainment content to be conveniently accessible and accountable. Live video streaming offers the convenience and thus has emerged as a major template for media storage.
High brand recall on online advertisement channel- Advertisers prefer posting their ads on digital media portals as they tend to make a better impact on the audience than traditional ad campaigns. These ads are usually interactive and purposeful, thus online media storage solutions benefit from this ad revenue as well.
Viewer control over content- Today, more and more viewers prefer accessing digital video content through platforms such as YouTube and Netflix as these usually offer free content or insist on a nominal subscription. Importantly, the viewers can decide upon the type and delivery mode of the content themselves, adding to the convenience factor as mentioned earlier.
For similar insights, download the free sample of the associated market research report from Technavio.
In summation, the audience is moving away from the traditional means of consuming entertainment and the associated industries must make the shift as well. When it comes to the media and entertainment industry, innovation and the provision of user-centric solutions will eventually win the day.